Cannon Futures Weekly Newsletter Issue # 1150
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Have a safe Memorial Day Weekend. Trading Schedule HERE
In this issue:
- Important Notices – Juneteenth Holiday Hours
- Trading Resource of the Week – Trading 101 Video: Where are my Targets?
- Hot Market of the Week – July Oats
- Broker’s Trading System of the Week – NEW Crude Oil Trading System
- Trading Levels for Next Week
- Trading Reports for Next Week
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- Important Notices – Juneteenth Holiday Hours
Monday, June 19, 2023 US bank will be closed in observance of Juneteenth. There will be no money transactions Wires, ACH, Internal transfer and or currency conversion.
Trading Resource of the Week –
Projecting Possible Price targets
By Ilan Levy-Mayer, VP
Watch the video below to get an idea on how to use Fibonacci extensions along with candle sticks to project possible price targets.
Try a
FREE demo of the platform used to show the charts in this educational article. The platform is FREE and has charts, news, DOM, T&S, Alerts, advanced order entry, options and MUCH MORE!
A Cannon broker will be able to assist, provide feedback and answer any questions.
Hot market of the week is provided by QT Market Center, A swiss army knife charting package that’s not just for Hedgers, Cooperatives and Farmers alike but also for Spread traders, Swing traders and shorter time frame application for intraday traders with a unique proprietary indicator that can be applied to your specific trading needs.
July Oats finally stabilized their slide last month and then activated upside PriceCount objectives on the correction higher. Chart is satisfied its first count to $3.81 where it would be normal to get a near-term reaction in a form of consolidation or corrective trade. If you can sustain for the strength from here, the second count would project the possible run to the $4.10 area
PriceCounts – Not about where we’ve been , but where we might be going next!
The PriceCount study is a tool that can help to project the distance of a move in price. The counts are not intended to be an ‘exact’ science but rather offer a target area for the four objectives which are based off the first leg of a move with each subsequent count having a smaller percentage of being achieved. It is normal for the chart to react by correcting or consolidating at an objective and then either resuming its move or reversing trend. Best utilized in conjunction with other technical tools, PriceCounts offer one more way to analyze charts and help to manage your positions and risk. Learn more at
www.qtchartoftheday.comTrading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors. Past performance of actual trades or strategies is not necessarily indicative of future results.
With algorithmic trading systems becoming more prevalent in portfolio diversification, the following system has been selected as the broker’s choice for this month.
PRODUCT
Crude Oil
SYSTEM TYPE
Intraday
Recommended Cannon Trading Starting Capital
$10,000
COST
USD 140 / monthly
The performance shown above is hypothetical in that the chart represents returns in a model account. The model account rises or falls by the average single contract profit and loss achieved by clients trading actual money pursuant to the listed system’s trading signals on the appropriate dates (client fills), or if no actual client profit or loss available – by the hypothetical single contract profit and loss of trades generated by the system’s trading signals on that day in real time (real‐time) less slippage, or if no real time profit or loss available – by the hypothetical single contract profit and loss of trades generated by running the system logic backwards on back adjusted data.
Please read full disclaimer HERE.
Questions about the markets? trading? platforms? technology? trading systems? Get answers with a complimentary,
confidential consultation with a Cannon Trading Company series 3 broker.
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Trading Levels for Next Week
Daily Levels for June 19th, 2022
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
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Would you like to receive daily support & resistance levels?
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Weekly Levels
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Trading Reports for Next Week
First Notice (FN), Last trading (LT) Days for the Week: www.mrci.com
This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts herein contained are derived from sources believed to be reliable but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgment in trading.
Good Trading!
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
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