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Support & Resistance Levels

This Blog provides futures market outlook for different commodities and futures trading markets, mostly stock index futures, as well as support and resistance levels for Crude Oil futures, Gold futures, Euro currency and others. At times the daily trading blog will include educational information about different aspects of commodity and futures trading.

Weekly Newsletter #1055 Day Trading Mind Traps & Trading Levels for Week Ahead

Cannon Futures Weekly Newsletter Issue #1055

Dear Traders,

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Day Trading Mind Traps

“One way our brain helps keep us safe is to protect us from an awareness of our weaknesses. The brain believes that it is better to be falsely confident than recognize the real risks. This protective mechanism tends to work against us in trading.” Kenneth Reid, Ph.D

MINDING THE MIND

The mind can play tricks on us. Intuitive Trading is an attempt to mind read the market, which makes us susceptible to whipsaws. Hindsight Bias causes traders to underestimate the difficulty of trading, while Competency Bias causes us to over-estimate our abilities. These are mental banana peels that set us up for a fall.

INTUITIVE TRADING

Intuitive trading is a natural response to excessive randomness and non-linearity in the market. But making informed guesses is not the same as formulating a rule-based pattern-recognition system that gives a trader a true edge. Without a rule-based plan, intuitive traders expend a great deal of energy mindreading the market, which will not improve your odds of success. In fact, professional traders make a good living exploiting the emotionally-driven behavior of intuitive amateurs.

….Read More by clicking here

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 when it comes to Futures Trading.

 

Futures Trading Levels

6-21-2021

 

Weekly Levels

Reports, First Notice (FN), Last trading (LT) Days for the Week:

https://mrci.com

Date Reports/Expiration Notice Dates

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

Big Moves After FOMC; Join our Exclusive Facebook for up to Date Futures News & Support and Resistance Levels 6.18.2021

Dear Traders,

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Big moves across the board the day after FOMC.
Strong US $ resulted in weak metals, grains and currencies. Strong bond market and VERY volatile stock index trading.
Nasdaq making all time highs while Dow was down over 500 points at one point.
If you are a member of our FREE Facebook group, you would have had access to the information below BEFORE the day started ( if you are NOT a member, simply visit: https://business.facebook.com/groups/1105191589938254/ ) :
06.17.21 Thursday post FOMC days can see very large moves.
SCO = STOP CLOSE ONLY
MA= MOVING AVERAGE
GOOD MORNING.
FOMC DECISION:
FED FUNDS
NO CHANGE 0 – 0.25%
ASSET PURCHASES PROGRAM of
$120 billion per month remains intact.
2021 INFLATION FORECAST:
UP 1.0%
From 2.4% to 3.4%
Unemployment:
Seen at 4.5% for 2021
3.8% for 2022
THE DEFLATIONARY SPIRAL MAY STILL
BE LINGERING. THAT’S WHY THE INFLATIONARY TRADE ISN’T GAINING ANY TRACTION AND THE FED MAY BE CORRECT
ALGO IS LONG THE US $ AGAIN, WHICH
IS HAMMERING THE GOLD & SILVER.
Chicago
Export Sales 7:30
Jobless Claims 7:30
U S&P
KEY MA 4191.75
LOW yesterday 4190.25
MUST HOLD!
CLOSE BELOW 4191.50 triggers 4156.00
KEY MA 4173.75
Market must hold to
maintain SECULAR Bull TREND.
4173.50 close triggers 4105.00
4063.75 is MASSIVE MA SUPPORT
CRITICAL MA SUPPORT!!
4018.75
MUST HOLD!!
U S&P
ALGO RESISTANCE:
4240.25
4231.50 Buy SCO
4224.00
U S&P Closed 4213.00 -23.50
ALGO SUPPORT:
4194.75
4186.50 Sell SCO
4177.00
U NASDAQ
MA SUPPORT:
13,697.75
MAJOR SUPPORT
13,656.75 *******
KEY MA!!
MUST HOLD!!
A close below damages the Secular Bull trend and triggers 13,470.00
CRITICAL MA SUPPORT
13,422.50 ******
LAST MA 13,418.00
U NASDAQ Closed 13,972.75 -49.00
ALGO SUPPORT:
13,970.25
13,942.50 Sell SCO
13,911.50
13,710.74
13,649.50 Sell SCO
13,578.25
U NASDAQ
FIBONACCI RETRACEMENTS:
14,155.25 to 12,906
38.2% = 13,679
50.0% = 13,531.25
61.8% = 13,384.50
N CRUDE
74.75 is the next OBJECTIVE,
then 80.00 long term.
N CRUDE Closed $72.15 +0.03
N CRUDE
ALGO SUPPORT:
70.65
70.30 Sell SCO
69.91
67.93 Key MA
66.11 CRITICAL MA
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 when it comes to Futures Trading.
To access a free trial to the ALGOS shown in the chart along with other tools? (Arrows possible buy/sell, diamonds = possible exit/ tighten stops) visit and sign up for a free trial for 21 days with real-time data.

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 when it comes to Futures Trading.

 

Futures Trading Levels

6-18-2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

ES Chart for Review & Support and Resistance Levels 6.17.2021

Dear Traders,

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FOMC lived up to it’s hype.
Tight narrow ranges before the announcement and volatile two sided action right before and after.
10 min chart for your review below as well as some insight into the verbiage that is moving the markets:
The Fed keeps benchmark rates and the pace of bond-buying unchanged but the biggest shift is a hawkish tilt to its rate forecasts as Fed median projections show 2 rate-hikes by end-2023 and 7 FOMC members see a hike in 2022…
To access a free trial to the ALGOS shown in the chart along with other tools? (Arrows possible buy/sell, diamonds = possible exit/ tighten stops) visit and sign up for a free trial for 21 days with real-time data.

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 when it comes to Futures Trading.

 

Futures Trading Levels

6-17-2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

Suggestions on Trading During FOMC Days & Support and Resistance Levels 6.16.2021

Dear Traders,

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Tomorrow we have FOMC.
The following are my PERSONAL suggestions on trading during FOMC days:
·    Reduce trading size
·    Be extra picky = no trade is better than a bad trade
·    Choose entry points wisely. Look at longer time frame support and resistance for entry. Take the approach of entering at points where you normally would have placed protective stops. Example, trader x looking to go long the mini SP at 3925.00 with a stop at 3919.00, instead “stretch the price bands” due to volatility and place an entry order to buy at 3919.75 and place a stop a few points below in this hypothetical example ( consider current volatility along with support and resistance levels).
·    Expect the higher volatility during and right after the announcement
·    Expect to see some “vacuum” ( low volume, big zigzags) right before the number.
·    Consider using automated stops and limits attached to your entry order as the market can move very fast at times.
·    Keep in mind statement comes out at 1 Pm Central time, the news conference which dissects the language comes out 30 minutes later so the volatility window stretches out.
·    Know what the market was expecting, learn what came out and observe market reaction for clues
·    Be patient and be disciplined
·    If in doubt, stay out!!
September is now front month for stock indices ( ES, NQ etc.), currencies, financials ( TBonds etc.)
Symbol for Sept. is U.
Example: ESU21

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 when it comes to Futures Trading.

 

Futures Trading Levels

6-16-2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

September Contracts Fully Trading & Support and Resistance Levels 6.15.2021

Dear Traders,

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September is now front month for stock indices ( ES, NQ etc.), currencies, financials ( TBonds etc.)
Symbol for Sept. is U.
Example: ESU21

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 when it comes to Futures Trading.

 

Futures Trading Levels

6-15-2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

Rollover to September Currencies & Support and Resistance Levels 6.11.2021

Dear Traders,

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Starting tomorrow MAKE sure to trade September currencies as well.
Starting tomorrow many traders will start trading the SEPTEMBER contract rather than the JUNE contract.
Symbol for Sept. is U.
Example: ESU21
The rollover period will be complete by next Friday when June contracts expire into cash.
Here are a few pointers from Austin Lachapelle, Cannon Trading Broker:
With the volume looking to change in the equity indices my recommendation is to make sure you are trading strategies on larger time-frames till the end of this week. If using volume indicators be more cautious on the data that has been gathered. The June contract will start rolling into the September tomorrow. I recommend switching your charts and trading to the September month by days end. Be a little more cautious on the close Thursday and Friday as larger players will begin to sell the June and could possibly be more cautious when buying the September at these levels.
Tomorrows levels published today will still show June contract until the Sept. volume is higher.
To get the Sept. levels do the following:
Substract 9 points for the Sept. ES
Substract 95 points for the Sept. YM
Substract 10 points for the Sept. NQ
Substract 3 points for the RTY
Add 9 points for the euro ( 6E)

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 when it comes to Futures Trading.

 

Futures Trading Levels

6-11-2021

Tomorrows levels published today will still show June contract until the Sept. volume is higher.
To get the Sept. levels do the following:
Substract 9 points for the Sept. ES
Substract 95 points for the Sept. YM
Substract 10 points for the Sept. NQ

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

Rollover In US Stock Index Futures & Support and Resistance Levels 6.10.2021

Dear Traders,

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Tomorrow, June 10th is rollover day in US stock index futures.
Starting tomorrow many traders will start trading the SEPTEMBER contract rather than the JUNE contract.
Symbol for Sept. is U.
Example: ESU21
The rollover period will be complete by next Friday when June contracts expire into cash.
Here are a few pointers from Austin Lachapelle, Cannon Trading Broker:
With the volume looking to change in the equity indices my recommendation is to make sure you are trading strategies on larger time-frames till the end of this week. If using volume indicators be more cautious on the data that has been gathered. The June contract will start rolling into the September tomorrow. I recommend switching your charts and trading to the September month by days end. Be a little more cautious on the close Thursday and Friday as larger players will begin to sell the June and could possibly be more cautious when buying the September at these levels.

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 when it comes to Futures Trading.

 

Futures Trading Levels

6-10-2021

Tomorrows levels published today will still show June contract until the Sept. volume is higher.
To get the Sept. levels do the following:
Substract 9 points for the Sept. ES
Substract 95 points for the Sept. YM
Substract 10 points for the Sept. NQ

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

VAREA Signal Trading Alerts & Support and Resistance Levels 6.08.2021

Dear Traders,

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VAREA Signal Trading Alerts
Directly to your Inbox!
  • A dynamic research tool for Futures traders based on revolutionary algorithmic IP. Experienced management team has combined decades of trading experience with superior programming capability to produce this unparalleled algorithmic trading product.
  • Daily email to traders identifying trading opportunities (signals) on more than 20 specific tickers per a discrete set of rules and conditions/algorithms.
  • Packages are signals only (Basic, $99/month) or signals with execution suggestions by VAREA trading specialists (Premium, $199/month) and get a free month of the Premium product when you sign up. Contact your broker for implementation instructions to get you started.

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 when it comes to Futures Trading.

 

Futures Trading Levels

6-09-2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

Futures Support and Resistance Levels 6.08.2021

Dear Traders,

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Get Real Time updates and more on our private FB group!

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 when it comes to Futures Trading.

 

Futures Trading Levels

6-08-2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

Versea Signal Trading Alerts & Support and Resistance Levels 6.04.2021

Dear Traders,

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Get Real Time updates and more on our private FB group!
Big moves across the board and we have monthly unemployment numbers tomorrow at 5:30 AM Pacific/ 8:30 Am EST.
VAREA Signal Trading Alerts
Directly to your Inbox!
  • A dynamic research tool for Futures traders based on revolutionary algorithmic IP. Experienced management team has combined decades of trading experience with superior programming capability to produce this unparalleled algorithmic trading product.
  • Daily email to traders identifying trading opportunities (signals) on more than 20 specific tickers per a discrete set of rules and conditions/algorithms.
  • Packages are signals only (Basic, $99/month) or signals with execution suggestions by VAREA trading specialists (Premium, $199/month) and get a free month of the Premium product when you sign up. Contact your broker for implementation instructions to get you started.

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 when it comes to Futures Trading.

 

Futures Trading Levels

6-04-2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

Day Trading Crude Oil Futures & Support and Resistance Levels 6.03.2021

Dear Traders,

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Both crude oil and natural gas numbers will be out tomorrow as it is a short trading week.
I wrote the following article on day-trading crude oil futures a few years back and I feel it has some excellent pointers which can help trading any markets. Read the article HERE.

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 when it comes to Futures Trading.

 

Futures Trading Levels

6-03-2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

Most Common Pitfalls To Avoid When Trading Futures-Commodity Futures & Support and Resistance Levels 6.02.2021

Dear Traders,

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Wishing all of you excellent trading in the month of June!
May your trading have all of the following and more:
  • Patience
  • Discipline
  • Trading Plan
  • Money management
  • Good Risk-reward trades

Most Common Pitfalls To Avoid When Trading Futures-Commodity Futures

500 experienced futures brokers were asked what caused most futures traders to lose money when comes to trading futures.
Their answers reflected the trading experience of more than 10,000 futures traders.  Download the PDF and find out what they said.
1) Have A Plan
Many futures traders trade without a plan. They do not define specific risk and profit objectives before trading. Even if they establish a plan, they “second guess” it and don’t stick to it, particularly if the trade is a loss. Consequently, they overtrade and use their equity to the limit (are undercapitalized), which puts them in a squeeze and forces them to liquidate positions. Usually, they liquidate the good trades and keep the bad ones.
2) News Factor
Many traders don’t realize the news they hear and read has, in many cases, already been discounted by the market.
3) Trade Objectively
After several profitable trades, many speculators become wild and non conservative. They base their trades on hunches and long shots, rather than sound fundamental and technical reasoning, or put their money into one deal that “can’t fail.”
4) Know Your Size
Traders often try to carry too big a position with too little capital and trade too frequently for the size of the account.

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 when it comes to Futures Trading.

 

Futures Trading Levels

6-02-2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

Memorial Day Trading Schedule, Indicators that can Help you with Exits & Support and Resistance Levels 5.31.2021

Dear Traders,

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Memorial Day Futures CME GLOBEX Trading Schedule below:

Trading Videos 101: Curious on an indicator that can help you with EXITS? How about using a certain indicator as a trailing stop?

Watch the latest trading videos we have posted and see if you can pick a tip or two on trading smarter!
In this week’s newsletter we are sharing four videos, each a few minutes long. The videos discuss practical tips for trading and sharing our experience with you
1. Using bolinger Bands as a possible tool for exiting trades
2. One way you can use the Parabolics study ( also known as PSAR) to manage current positions, possibly as a trailing stop
3. Different ways traders can utilize support and resistance levels in their trading.
4. Entering trades on a stop, using “price confirmation”.
5. Utilizing Range Bar charts for shorter term trading as a way to try and filter out some noise.

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 when it comes to Futures Trading.

 

Futures Trading Levels

5-31-2021

Weekly Levels

Economic Reports, source: 

www.mrci.com/reports.php

 

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 here in 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 judgement in trading.

Memorial Day Trading Schedule & Support and Resistance Levels 5.28.2021

Dear Traders,

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Memorial Day Futures CME GLOBEX Trading Schedule below:

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 when it comes to Futures Trading.

 

Futures Trading Levels

5-28-2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

Rollover to August Gold & September Bonds, Memorial Trading Schedule & Support and Resistance Levels 5.26.2021

Dear Traders,

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August is FRONT month for gold.
September will be front month for bonds/ 10 years etc. starting tomorrow.
Memorial Day Futures CME GLOBEX Trading Schedule below:

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 when it comes to Futures Trading.

 

Futures Trading Levels

5-27-2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

Memorial Day 2021 Holiday Schedule for CME / Globex and ICE Exchange

Memorial Day 2021 Holiday Schedule for CME / Globex and ICE Exchange

*Dates and times are subject to change

If you have any questions, please call the CME Global Command Center at +1 800 438 8616, in Europe at +44 800 898 013 or in Asia at +65 6532 5010

Globex® Memorial Day 2021 Holiday Schedule for CME / Globex and ICE Exchange

More details at: http://www.cmegroup.com/tools-information/holiday-calendar.html 

ICE Futures Memorial Day 2021 Holiday Schedule for CME / Globex and ICE Exchange

Detailed holiday hours for ICE Futures: https://www.theice.com/holiday-hours

The above sources were compiled from sources believed to be reliable. Cannon Trading assumes no responsibility for any errors or omissions.  It is meant as an alert to events that may affect trading strategies and is not necessarily complete.  The closing times for certain contracts may have been rescheduled.

Gold Settles Above 1900 for the First Time in a Long Time & Support and Resistance Levels 5.26.2021

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Nice close for gold futures, settling above 1900 for the first time in a while.
We shared the weekly chart on Friday along with a quick overview/ outlook.
Today’s price action is positive in our opinion for the technical picture of the yellow metal. Daily chart along with levels to watch in the chart below. Click for larger image.

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 when it comes to Futures Trading.

 

Futures Trading Levels

5-26-2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

Micro Bitcoin Futures Chart Review & Support and Resistance Levels 5.25.2021

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Today was one of these “trending Mondays” for stock indices.
It was a strong upward trend with little pull backs all the way towards the last 15 minutes of trading.
Bitcoin on the other hand experienced more intraday volatility both sides of the fence.
30 Minutes Chart of the MICRO Bitcoin futures for your review below/
Micro Bitcoin Futures 30 minute chart

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 when it comes to Futures Trading.

 

Futures Trading Levels

5-25-2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

10 Key Questions on Measuring Your Trading Progress, Crude Oil Chart Review & Support and Resistance Levels 5.21.2021

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10 Key Questions on Measuring Your Trading Progress, Success

At some point in nearly everyone’s trading timelines, they wonder how their trading successes (or failures) compare with those of other traders. Wondering just how well you stack up to other traders in the industry is a natural curiosity and a human psychological tendency. However, actually knowing the success or failure rates of others doesn’t do a lot to move you farther down the road of where you want to be regarding trading success.
Most traders also wonder about the success rates of the “professional” traders—the ones who make their living solely by the profits they generate from trading. I will provide you with an answer to this question at the end of this feature.
Below are 10 questions regarding measuring your own trading progress and success. These questions should help you determine where you stand in this challenging field of endeavor.
1. What is trading “success?” This is a most basic question. Most would agree that ultimate trading success is defined as being profitable at trading—making more money than you lose. There are other secondary factors that also define success in trading, such as finding a “balance” between trading and other life activities. But it’s being profitable at trading that is the benchmark of defining success.
2. What is trading “progress?” Beginning traders should not expect to have immediate and ultimate success trading futures, stocks or FOREX markets. What they can expect in the early going is to make steady progress through gaining knowledge and experience. Even veteran successful traders continue to make trading progress. Achieving and maintaining trading success requires continual progress—namely continuing to seek out trading and market knowledge. Traders who truly enjoy the “progress” and process of trading do have a significant trading edge over those who do not enjoy learning and gaining experience.
3. At what point in my trading timeline should I expect trading “success?” Trading success (winning trades) can come right away—even for the beginning traders. What is less likely for the inexperienced traders is sustained trading success. Beginners can even run into a “hot streak” that skews the overall reality of trading. Immediate (and likely fleeting) success for a beginning futures trader can do longer-term psychological harm—if he or she does not fully recognize and understand the hard work and perseverance required on the road to trading success. Many times I get questions from less-experienced traders that go something like this: “I’ve been trading two years and I’ve only been able to about break even.” My reply to them is, “Hey, you should not be too discouraged with those results. Many traders don’t have that kind of success in the early going.”
4. How long will it take to go from being a less-experienced trader to an experienced and hopefully successful trader? Determining a precise timeline at which trading success will arrive will vary greatly among traders. Some beginning traders will spend nearly full time coming up to speed. Others may spend an hour or two a week on the subject. There is no right answer on how much time to spend studying trading and markets. I have many readers who are taking up trading in retirement. I have a few that have taken up trading over the age of 80 years. One is never too young or too old to learn about markets and trading. A general rule would be for a beginning trader not to expect sustained trading success within a few months. More likely is a timeframe of a few years to achieve sustained trading success. Now you see why money management is so important in futures trading. You have to survive before you can succeed!
5. When should I “throw in the towel” and admit that trading is not for me? There is no one right answer to this question. If trading is making you miserable and creating other bad habits (kicking the dog), then it’s time to quit—or at least take an extended break. If you do not have the financial resources to trade futures, then you should not participate. Futures trading should be conducted only with money a trader can stand to lose, without impacting other more important obligations, such as grocery and rent money. It is important to point out that the beginning futures traders who “flame out” first are usually the ones who did not have the financial resources to trade futures in the first place.
6. Am I still hungry for trading and market knowledge? One should never stop endeavoring to gain more knowledge about markets and trading. Even the successful veterans who’ve been in the business for many, many years will say that they are still learning on a daily basis. If you are still striving to learn more about this business–and are enjoying doing it–then that’s a positive signal.
7. How many trading losers should I absorb before I change my trading plan of action? This is a real tough one to answer. Again, there is no single right answer. However, if you believe you have a well-founded and thoroughly researched trading plan of action, don’t abandon it just because you are on a losing streak. All traders have winning and losing streaks. That’s a part of trading. Traders enjoy the winning streaks and do not enjoy the losing streaks. But during the losing streaks they forge ahead, knowing that their plan of action is still solid. Trading plans can certainly be tweaked, such as trading fewer contracts or trading less frequently during a losing streak. For most traders, a complete overhaul of one’s trading plan is probably a last resort that merits much consideration.
8. How can I keep myself motivated on the winding road to trading success? Traders who enjoy the entire process of trading don’t really need a lot of motivational help because they are already fascinated by what they are reading and learning. But during a losing streak or some other “dry spell” in trading—when morale can slip—it is prudent to read some trading books that are based less on specific methodologies and more on trading psychology. Attending trading seminars is a great way for a trader to become reinvigorated. (And it’s also a great value to those already invigorated!) You not only will gain fresh trading and market knowledge, but you also will get to see and speak with the seminar lecturers as well as traders who are in the same position as you.
9. How much should I listen to other traders when trying to evaluate my own trading progress or my own trading plan? It is good to have a trading partner or “buddies” with whom to share your ideas and to discuss markets and trading. The learning curve improves when a trader has another trader or traders with similar experience with whom to share ideas. It is also beneficial to have an experienced mentor to help guide you through the “rough waters” that all traders experience at times. But at some point, most traders do want to be more or less autonomous in their decision-making. As many traders gain more experience, knowledge and confidence, they will use outside influences as “second opinions” to reinforce or provide another angle to their own sound opinions. Many traders also have full-time “day jobs” and need outside sources to help save them time and to keep track of what’s going on in all the markets.
10. What is the average success rate of the “professional” trader? I have not seen any “official” studies of the percentage of winning trades of the average professional trader. However, it is generally agreed upon by many in our industry that the better professional traders have a winning percentage of around 4 out of every10 trades—or a 40% winning percentage. Breaking this down even further, it is estimated that half of the winning trades are only small winners and not much better than break-even. Thus, it can be loosely extrapolated that most of the professional futures traders make most of their money on one or two trades out of every 10. This only underscores the importance of sound money management in futures trading—namely cutting losses short and letting winners run.
That’s it for now. Next time, we’ll examine another important issue on your road to trading success.
Jim Wyckoff is the proprietor of the analytical, educational and trading advisory service, “Jim Wyckoff on the Markets.” He has a website at www.jimwyckoff.com
Important: Trading commodity futures and options involves a substantial risk of loss.
The recommendations contained in this letter are of opinion only and do not guarantee any profits.
Past performances are not necessarily indicative of future results.
Daily Crude Oil Chart

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 when it comes to Futures Trading.

 

Futures Trading Levels

5-21-2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

Extremely High Intraday Volatility, ES Chart Review & Support and Resistance Levels 5.20.2021

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Intraday Volatility in stock index futures is extremely high. Actually across many markets BTC futures leading the volatility but metals, energies and grains have seen higher volatility. I noticed the stock index futures today as i was actively monitoring and trading with some clients and saw the ES make 20 points moves and more, BOTH ways in the same 15 minutes….Intraday chart for illustration below.
  1. Learn to reduce trading size. Perhaps trade smaller contracts like the micros.
  2. Adjust stops and entries based on volatility ( ATR/ Parabolics).
  3. Be extra picky on entries without chasing trades.
  4. Understand that loses are part of trading and this is definitely not a good time to “fight the markets”.
  5. Focus more on risk management and ways to protect certain positions as needed. Survive to trade another day.
Markets are moving extremely fast and at times quoting systems, platforms can’t even keep up.
The risk is MUCH GREATER than I have seen, yet some traders look for it.
That is ok, as long as you :
Know the rules, understand current margins, know where the circuit breakers are/ limit moves.
Figure out your max risk.
After you do all that, feel free to trade but jumping in and trying to trade without the basic knowledge above is like jumping into a stormy ocean without a life vest…..
Mini S&P 10 Minute continuation chart

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 when it comes to Futures Trading.

 

Futures Trading Levels

5-20-2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

Bitcoin Chart Review and Highlight & Support and Resistance Levels 5.19.2021

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With recent correction in Bitcoin, I am sharing the daily chart for your review below along with some levels to watch – notice the recent low and the FIB levels…..
41980 followed by 36760 sticks out as major support.
46650 will act as first resistance.

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 when it comes to Futures Trading.

 

Futures Trading Levels

5-19-2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

Sell off In Bitcoin & Support and Resistance Levels 5.18.2021

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Sell off in Bitcoin, rally in gold and silver, very choppy action in stock indices to start the week.
Some of our morning excerpt below for a different type of insight into the markets – join our FB group for free to view these updates in real-time at https://www.facebook.com/groups/1105191589938254 :
GOOD MORNING.
NO NUMBERS THIS MORNING
TOMORROW
HOUSING STARTS & PERMITS
Money managers again had strong hands in looking for any weakness to buy. With the LONG END of the interest rate at negative and the FED’s Q.E. of
$80 billion a month / $1.44 TRILLION for the year, they’re forcing money managers to take risk. The only place for returns now is equities. Also the 1st nine to 12 months of inflation is positive for equities, then they turn the lights out.
The FED also has the stimulus money as an undercurrent for now.
M S&P
4159.50 OBJECTIVE has been met.
LOW was 4105.25 ****
Friday’s SUPPORT was 4106.25 ****
SUPPORT 4162.00
4093.75
CRITICAL KEY SUPPORT!!
CLOSE BELOW TRIGGERS
4017.50
MASSIVE SUPPORT
3976.75
M S&P
RESISTANCE:
4245.50
4217.25 Buy SCO
4193.00
M S&P Closed 4169.00 +62.00
SUPPORT:
4095.25
4067.25 Sell SCO
4034.75
M S&P
FIBONACCI RETRACEMENTS:
4238.25 to 3710.50
38.2% = 4037.00 *****
50.0% = 3974.50
61.8% = 3912.25
Money flow for M S&P’S:
Negative= N / Positive= P
M CRUDE -0.13 / Neutral
N COPPER +2.45 / P
M BONDS +0.01 / Neutral
M YEN + 0.155 / N
M PALLADIUM +2.40 / P
M US$ – 0.093 / P
M NASDAQ
MAJOR RESISTANCE 13,257.25
CLOSE ABOVE TRIGGERS SHORT COVERING UP TO 13,367.50
KEY RESISTANCE 13,523.00
MAJOR RESISTANCE 13,674.09
KEY PIVOT 13,368.75
M NASDAQ
RESISTANCE:
13,997.00
13,855.50 Buy SCO
13,733.75
M NASDAQ Closed 13,387.00 +286.75
SUPPORT:
13,318.50
13,217.75 Sell SCO
13,100.50
M NASDAQ
FIBONACCI RETRACEMENTS:
14,064 to 12,200
38.2% = 13,348.50
50.0% = 13,128.25
61.8% = 12,908.00 / LOW 12,915
Important: Trading commodity futures and options involves a substantial risk of loss.
The recommendations contained in this letter are of opinion only and do not guarantee any profits.
There is not an actual account trading these recommendations.
Past performances are not necessarily indicative of future results.

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 when it comes to Futures Trading.

 

Futures Trading Levels

5-18-2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

Price Limit Rules; Soybean Futures Outlook & Support and Resistance Levels 5.14.2021

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Traders, Know Your Limits
Are you trading any futures contracts that incorporate daily price limits?
A price limit is the maximum price range permitted for a futures contract in each trading session. When markets hit the price limit, different actions occur depending on the product being traded. Markets may temporarily halt until price limits can be expanded, remain in a limit condition or stop trading for the day, based on regulatory rules.
It’s important to know these price limits during the trading day to make sure your trades are never left hanging during a price limit halt.
Visit the CME Group web site for the price limits that apply to the markets you’re trading:
Beans daily chart for your review below. The big question…is this a simple profit taking pull back of a major bull run or the beginning of reversal to the downside? Time will tell but some levels to watch below. Click for LARGER IMAGE

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 when it comes to Futures Trading.

 

Futures Trading Levels

5-14-2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

A Closer Look at Nasdaq Futures (NQ) & Support and Resistance Levels 5.13.2021

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A quick look at NASDAQ100 futures, the NQ in the chart below:
NASDAQ 100 Futures Picking Up Speed On The Way Down
Ilan Levy-mayer – Wed May 12, 12:01PM CDT
On May 4th I shared the following post: Nasdaq 100 Shifted Momentum
As sometimes happen, the chart provided me with the right clues and the market dropped quite a bit since then.

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 when it comes to Futures Trading.

 

Futures Trading Levels

5-13-2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

Futures Support and Resistance Levels 5.12.2021

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No words of wisdom today…simply levels and reports for tomorrow below.

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 when it comes to Futures Trading.

 

Futures Trading Levels

5-12-2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

Join our Private Facebook Groups for Futures Market Updates & Support and Resistance Levels 5.11.2021

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Join our private Facebook group for early morning insight that relates both for shorter term traders as well as longer them traders.
With today’s Dow Futures high at 35,000 I could not help myself but share the following post from Mid March….
Needless to say, some of the insight we share is right and at times wrong but overall I feel this is valuable information and another useful point of view.
IMPORTANT PLEASE NOTE: TRADING COMMODITY FUTURES AND OPTIONS INVOLVE SUBSTANTIAL RISK OF LOSS. THE RECOMMENDATIONS CONTAINED IN THE LETTER IS OF OPINION AND DOES NOT GUARANTEE ANY PROFITS. THERE IS NOT AN ACTUAL ACCOUNT TRADING THESE RECOMMENDATIONS.  THESE ARE RISKY MARKETS AND ONLY RISK CAPITAL SHOULD BE USED. PAST PERFORMANCES ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.

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 when it comes to Futures Trading.

 

Futures Trading Levels

5-11-2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

How Should We as Traders Confront Risk? & Support and Resistance Levels 5.07.2021

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With NFP ( non Farm Payroll) report tomorrow – monthly un employment, I thought the following article is worth featuring:

RISK

It is a four letter word. As traders it is something that we thrive on and dread. We chase and fear. We look for and look to avoid. It is RISK. Without it, there is no opportunity for profit. Without it trading lacks potential. With it, failure and heartache are the consequences when it is abused.
  Risk itself is not a bad thing. When it is misused by traders, it becomes a problem. Controlled risk presents traders with exciting and profitable opportunities. Uncontrolled, it brings the end to the dreams and careers of many traders.
  How should we as traders confront risk? The first step is to respect it. Realize the damage it can do to our account equities when it is abused. The two most important tools that we have to control risk are stops and position size. Oh, I know, you hate stops. We all do. We have all been stopped out at the high or low only to see the market immediately move in the direction that we thought it would. But without using stops on every trade that we enter, disaster will eventually prevail. I have a love/hate relationship with my stop orders. I hate to place them, but love how they save me from large, unacceptable account crushing losses. It is the same for all successful traders. Those foolish enough to trade without stop protection are risking disaster on every trade. Unless you as a trader have developed perfect discipline to exit a losing trade quickly, and according to your pre-entry criteria, stops are mandatory. And admit it, at least to yourself…..do you have perfect discipline? I think not.
  The other critical element in controlling risk is position size. By this I mean the percentage of your equity that you are risking per trade. I do not risk more than 3.5% of my equity on any trade. Some traders are comfortable risking 5% of their equity. This amount for me is an amount of risk with which I am comfortable. It allows for aggressive trading, and it allows me to stay in the game ( financially and psychologically) even after a series of losses. This aspect of strategy building is often forgotten by the novice trader. These folks have dreams of “the big hit” or the monster trade that allows their account equity to soar to heights unimagined by mere mortals. The problem is, oops, what if you are wrong? This type of trading/thinking is out of control. It leads to broken dreams and short careers. You must always remember that this is a highly volatile, sophisticated business. Treat it as such. If you want to gamble, jump on an airplane and visit Las Vegas.
  The futures markets are highly leveraged, as we all know. Those traders that abuse risk by not respecting its power will eventually join the long list of former futures traders. Risk must be treated like a beautiful, intelligent woman. Treated with respect, wonderful things can happen. But, abuse it, or disrespect it, and suffer the consequences.
  As a futures trader you have to embrace taking risk. Understand its impact. Respect it. Stay in control of it. Develop a trading method that makes risk an asset to your account instead of an enemy of your account. Risk/reward analysis is an important part of our everyday lives. Can I make it thru the intersection before the light turns red? Do I need to re-apply my sunscreen? Should I have one more beer before driving home? In trading, always keep in mind your risk versus the reward. A 50% gain in your account is not equal to a 50% loss of equity. A 50% winning trade puts you up by one half. But a 50% loss means that you have to double your equity to get back to your starting point. Respect your risk levels. Trade only using a risk level that you, personally, are comfortable with.
  Rome wasn’t built in a day. Neither will your account be built in a day, or a week. Respect risk. Enjoy it’s benefits and your trading in rest of this year and in 2011 will produce profits and satisfaction. Enjoy the ride.
IMPORTANT PLEASE NOTE: TRADING COMMODITY FUTURES AND OPTIONS INVOLVE SUBSTANTIAL RISK OF LOSS. THE RECOMMENDATIONS CONTAINED IN THE LETTER IS OF OPINION AND DOES NOT GUARANTEE ANY PROFITS. THERE IS NOT AN ACTUAL ACCOUNT TRADING THESE RECOMMENDATIONS.  THESE ARE RISKY MARKETS AND ONLY RISK CAPITAL SHOULD BE USED. PAST PERFORMANCES ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.

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 when it comes to Futures Trading.

 

Futures Trading Levels

5-07-2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

Futures Trading Levels 5.06.2021

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No commentary today.

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 when it comes to Futures Trading.

 

Futures Trading Levels

5-06-2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

Spread Chart of NQ-ES Review, Micro BTC Webinar Tomorrow! & Support and Resistance Levels 5.05.2021

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Dear Traders,

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Volatile day in the markets today.
NASDAQ 100 has shifted into short term bear mode for now while SP 500 is still holding above key levels ( IMO).
Spread chart of NQ-ES below for your review. It is a daily chart of NQ prices MINUS ES prices. As you can see last few trading days the ES is keeping more strength versus the NQ.
As I mentioned in previous blog posts, may ways to try and “skin the cat”….day trading or scalping INDEX futures is only one.
Some traders will trade spreads like the ES/ NQ on an intraday basis or longer, some traders will look at other markets like gold, crude and bonds ( versus focusing on the indices only) and some traders will trade a basket of products, being active based on where they feel opportunities are like Micro Bitcoin.
MICRO Bitcoin webinar tomorrow!
SPACE is LIMITED, so reserve your space now!

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 when it comes to Futures Trading.

 

Futures Trading Levels

5-05-2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

MICRO Bitcoin Futures #microBTC

MICRO BTC Futures #microBTC
By Mark O’Brien, Senior Broker

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On March 30, a CME Group press release announced that it would introduce a new Micro BTC futures contract. Monday, May 3rd will be the futures contract’s first day of trading. This new futures contract reflects CME Group’s expansion of crypto derivatives that includes their Bitcoin futures contract launched in 2017, Bitcoin options in early 2020 and their Ether futures contract just last February.

When its open-sourced software was released in 2009, Bitcoin became the very first digital asset, or cryptocurrency to work as a medium of exchange. Since then, approximately 1800 other cryptocurrencies have been created with a market capitalization that topped $2 trillion this month. Strikingly, Bitcoin comprised approximately half that market cap.
The current Bitcoin futures contract’s underlying asset is 5 Bitcoin and with Bitcoin currently trading between $50K-$60K, the futures contract’s base value is ±$250K-$300K. And unlike nearly all other futures contracts whose margins are set and adjusted fairly infrequently by their exchanges, Bitcoin’s Initial Margin Requirement is recalculated every day based on its closing price, currently at roughly 40% of its base value – over $125K, currently.
The new Micro Bitcoin futures contract’s underlying asset is 1/10 Bitcoin (1/50 the size of the current 5-Bitcoin futures contract).
Needless to say, at 1/50th the leverage of the current Bitcoin futures contract, the smaller-sized Micro BTC futures contract will give traders the ability to fine-tune Bitcoin exposure.  And it goes without saying, these contracts trade on a regulated exchange where all participants see the same prices and quotes.  Participants enjoy true market transparency and price discovery.
The Micro Bitcoin futures contract builds on the strength and liquidity of CME Bitcoin futures by giving you more choice and flexibility to manage your Bitcoin exposure and add versatility to your trading strategies.
For more information or a professional consultation, or to try a futures trading platform demo, contact Cannon Trading Co.

Disclaimer – Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involve substantial risk of loss and is not suitable for all investors. Past performance is not indicative of future results. 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.

Micro BTC 1st Day of Trading & Support and Resistance Levels 5.04.2021

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Dear Traders,

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MICRO BTC first day was today!
We will host John Bria of CME group for a webinar this Wednesday, review action and volume of the first 3 days and talk about:
• The evolution of cryptocurrency
• CME Group Micro Bitcoin product overview
• Explanation of Bitcoin Reference Rate and real-time index
• Difference in futures v spot transaction costs
• Scaling in and out with Micro Bitcoin Futures
• How to use Micro Bitcoin Futures to manage risk
SPACE is LIMITED, so reserve your space now!
In between, lets take a look at the 30 minute chart of MICRO BTC from its first trading day.

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 when it comes to Futures Trading.

 

Futures Trading Levels

5-04-2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

Weekly Newsletter #1049 JOIN US in Introducing Micro Bitcoin Futures, Lean Hogs Chart Review & Trading Levels for Week Ahead 5.03.2021

Cannon Futures Weekly Newsletter Issue # 1049

Dear Traders,

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Trading 201 WEBINAR: Introducing Micro Bitcoin Futures Micro-sized Bitcoin, Major Possibilities

Wed, May 5, 2021 1:30 PM – 2:30 PM PDT
BTC Futures
Cannon Trading & CME Group invite you to attend a webinar on Wednesday, May 5, about the NEW CME Group Micro BTC Futures. Join John Bria, CME Group’s Director of Client Development & Sales, as he discusses the growth of crypto, how this micro product has come to fruition and the opportunities that lie ahead for the active trader community.
An Introduction to Micro BTC Futures
Join us for an interactive session where John Bria, CME Group’s Director of Client Development & Sales, as he covers the fundamentals of Micro BTC Futures, while exploring ways in which active individual traders can use these products to diversify their portfolio.
In This Webinar You Will Learn:
• The evolution of cryptocurrency
• CME Group Micro Bitcoin product overview
• Explanation of Bitcoin Reference Rate and real-time index
• Difference in futures v spot transaction costs
• Scaling in and out with Micro Bitcoin Futures
• How to use Micro Bitcoin Futures to manage risk
SPACE is LIMITED, so reserve your space now!
Risk: 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

Click Here to Reserve your Seat NOW

Market Pick Review for the Week:

Hogs weekly chart below. Market is a bit overbought and may have a small correction however the trend and bias are still bullish and we finished Friday limit up basis the June contract.
Demand from China has slowed down a bit, however, summer is seasonally friendly for hogs. Should be an interesting price action next week. Experienced traders may look into selling vertical call spreads with 45 days left to expiration.
BTC Futures
To access a free trial to the ALGOS shown in the chart along with other tools? (Arrows possible buy, squares = possible exit/ tighten stops) visit and sign up for a free trial for 21 days with real-time data.
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 when it comes to Futures Trading.

 

Futures Trading Levels

5-03-2021

BTC Futures

 

Weekly Levels

Reports, First Notice (FN), Last trading (LT) Days for the Week:

https://mrci.com

Date Reports/Expiration Notice Dates

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

Last Trading Day Tomorrow & Support and Resistance Levels 4.30.2020

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Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

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Dear Traders,

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Just like that and April last trading day is tomorrow!
Last trading days and first trading days of the months will at times have unique characteristics. Possible larger moves, sharper turns etc.
Large traders/ funds will try to “close the books for the month”, book profits or losses etc.
Do you homework, go over notes from your journal and be prepared.
I wrote a quick piece on Live Cattle Futures along with chart and possible trade idea which you can find in details here:

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 when it comes to Futures Trading.

 

Futures Trading Levels

4-30-2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

FOMC Action is Choppy for the Markets, Support and Resistance 4.29.2021

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Dear Traders,

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FOMC is now behind us.
Looks like possible rotation from NASDAQ ( hi tech) to Russell a broader index.
Today’s action was a “typical Federal Open Market Committee day as of late….” choppy action all the way to the decision and then even more choppiness just with larger “bands”.
I know some day traders who DO NOT trade on Federal Open Market Committee days but I myself was never able to find a strong correlation one way or the other.
July silver and July copper are front months now – May is heading into delivery period. Same with Sugar, coffee, cotton.
Federal Open Market Committee

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 when it comes to Futures Trading.

 

Futures Trading Levels

4-29-2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

FOMC Rate/ Language will be out tomorrow!, Trading Videos & Support and Resistance Levels 4.28.2021

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Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

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Dear Traders,

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FOMC rate/ language will be out tomorrow! Be ready, know the times reports are coming and look at your notes/ past market behavior for any clues.
This is a MARKET MOVING EVENT!!
Trading Videos 101: Curious on an indicator that can help you with EXITS? How about using a certain indicator as a trailing stop?
Watch the latest trading videos we have posted and see if you can pick a tip or two on trading smarter!
In this week’s newsletter we are sharing four videos, each a few minutes long. The videos discuss practical tips for trading and sharing our experience with you
1. Using Bollinger Bands as a possible tool for exiting trades
2. One way you can use the Parabolics study ( also known as PSAR) to manage current positions, possibly as a trailing stop
3. Different ways traders can utilize support and resistance levels in their trading.
4. Entering trades on a stop, using “price confirmation”.
5. Utilizing Range Bar charts for shorter term trading as a way to try and filter out some noise.

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 when it comes to Futures Trading.

 

Futures Trading Levels

4-28-2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

Earnings Season is In Play, Bitcoin Webinar & Support and Resistance Levels 4.27.2021

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Dear Traders,

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Earnings season is in play. Be aware.
Grains have made some large upside moves as well as coffee and sugar recently if you are not following. Some of it is on the heels of US$ being weaker.
Bitcoin futures are volatile as well with large swings intraday. MICRO BTC coming out next week!
Would you like a bit more insight AHEAD of the trading day?
get info/ insight like this below which was posted around 5 AM this morning Pacific Time:
GOOD MORNING.
NEW LOW CLOSE US$ @ 90.839
DOWN 0.482.
BULLISH for S&P’s, COPPER,
GOLD CRUDE, GRAINS, SOFTS, ETC.
PARADOXICALLY, GOLD & SILVER
ARE NOT REACTING.
M EUROCURRENCY MADE A NEW HIGH CLOSE, BREAKING OUT ABOVE
**100 DAY MA @ 120.915**
CLOSED @ 121.05 UP 0.85
LOOK FOR M CRUDE TO RALLY
REFLATIONARY pressures continues
GRAINS & LUMBER.
LUMBER Closed limit up again 48.00
COPPER still parabolic!
Very bullish underlying indicator
for economy!
Secular BULL market in S&P’s until a 4090.50 occurs.
M S&P objective 4205.00
DOW 35,000
GERMAN BUNDS:
10) -0.252%
20) +0.034%
30) +0.293%
U.S. RATES:
FED FUNDS WINDOW:
(K) CLOSED 0.1825% -0.50
02) 0.151%
10) 1.542%
30) 2.222%
2/10 Yield Curve Closed 1.391%
5/30 Yield Curve Closed 1.428%
M US$ / Closed 90.839 0.482
RESISTANCE:
91.31
91.19 Buy SCO
91.09
M DOW / Closed 33,941 +232
SUPPORT:
33,997
33,896 Sell SCO
33,810
M S&P / Closed 4171.50 +43.75
SUPPORT:
4152.00
4139.00 Sell SCO
Money flow for M S&P’S:
Negative= N / Positive= P
M CRUDE -0.92 / N
K COPPER +8.15 / P
M BONDS -0.16 / N Nasdaq
M YEN +0.09 / N
M PALLADIUM +38.0 / P
M US$ -0.031 / P
K LUMBER closed 1372.50 +48.00 LIMIT
M CRUDE / Closed $62.14 +$0.71
SUPPORT:
60.48
59.84 Sell SCO
59.08
RESISTANCE:
64.00
63.34 Buy SCO
62.77
M BONDS / Closed 158.09. -0.05
SUPPORT:
158.04
RESISTANCE:
158.24
158.12 Buy SCO
K COPPER / Closed $4.3360 +6.30
SUPPORT:
4.2880
4.2660 Sell SCO
4.2410
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 when it comes to Futures 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 when it comes to Futures Trading.

 

Futures Trading Levels

4-27-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Biden Proposed Tax Move Markets, ES Chart Review & Support and Resistance Levels 4.23.2021

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Dear Traders,

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News move the markets. Are you Curious About The Futures Market Now?
Take a look at the ES 15 min chart below when the news on Biden and proposed taxes came out…. Market dropped 20 points in approx. 2 minutes…Right around noon central.
To stay on top of the news in real-time, both visually and audibly, I personally use a few sources. One of them is Bettertrader.co
ES15 minute chart
To access a free trial to the ALGOS shown in the chart along with other tools? (Slanted arrows possible buy, Diamonds = possible exit/ tighten stops) visit and sign up for a free trial for 21 days with real-time data.

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 when it comes to Futures Trading.

 

Futures Trading Levels

4-23-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Futures Trading Levels for April 22nd, 2021

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Dear Traders,
Today’s action in Silver, gold, SP and NQ lead me to write the quick piece below.
Few words on BREAKOUT trading.
The concept is one of many different traders use.
Some like to use COUNTRER TREND trading.
others look at ORDER FLOW, some will use support and resistance mainly and hopefully more traders will master a few different techniques and use the appropriate one depending on the type of trading day that is developing in front of their eyes.
The concept of break out trading looks for the market to “snap out” of a certain trading range and continue moving in that direction. The toughest part is to filter out the “fake breakouts” and recognize early enough which breakouts have the potential to be a powerful one.
A few tips to explore:
Look for a breakout on a smaller time frame that will coincide with a longer time frame CURRENT trend. So you may look at a daily trend and look for a breakout on the hourly chart?
You may trade smaller time frames and look for breakouts that will coincide with the 30 minute chart time frame.
Last but not least ( for today only of course as I am sure there are MUCH more than the short few pointers I am sharing….) try utilizing different type of charts and do your homework in regards to which breakouts seem to work better than others. Look at RANGE BAR charts, explore VOLUME charts, maybe even take a look at Renko bars and other types as well.
30 MINUTES chart of ES below with 4 different pointers to look at, marked A through D. CLICK for larger IMAGE. ALWAYS much easier to look back in hindsight and explain what happened….I wish it was that easier when trading live….Click on the chart so you are able to read the pointers along with some insight for educational purposes.
To access a free trial to the ALGOS shown in the chart along with other tools? (Slanted arrows possible buy, diamonds = possible exit/ tighten stops) visit and sign up for a free trial for 21 days with real-time data.

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 when it comes to Futures Trading.

 

Futures Trading Levels

4-22-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Trading the 30 Year Bonds In Place of the NQ? 30 Year Bond Chart for Review & Support and Resistance Levels 4.21.2021

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Dear Traders,

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Spoke with a client today I have not spoken with in a while and was happy to hear from him that his own day trading improved once he SWITCHED over from NQ to ZB ( mini NASDAQ to T bonds).
Why am I happy you may ask?
  1. Always good to hear your clients trading is improving
  2. I am in believe that different markets are better for different traders and that it is worth while to explore other markets for trading. I personally like to mix and match 3-5 markets . Sometimes even moving from NQ to MNQ can help.
  3. When it comes to short term trading my favorites ( personally) are: ES/MES, MNQ ( I feel NQ can be too much at these price levels and you probably need $30k to day trade 1 NQ ), CL, GC, ZB, ZS
Here is something I wrote on bonds a while back and worth sharing:
Each market has a different personality, different behavior along with different times of the day when it is most active. If you are finding that the ES (mini SP) is not giving you enough OR too much risk/opportunities then start monitoring a couple of other markets and perhaps explore them in demo / simulated mode.
I think that there are more than a few markets that are suitable for day-trading. Below you will find some observations, tips along with what are unique about these markets, personality and most active trading hours (interest rates, mostly the ten year and 30 year).
In most platforms, the symbols are ZB for 30 year bonds and ZN for 10 year notes.
Product Symbol
ZB
Contract Size
The unit of trading shall be U.S. Treasury Bonds having a face value at maturity of one hundred thousand dollars ($100,000) or multiples thereof
Price Quotation
Points ($1,000) and 1/32 of a point. For example, 134-16 represents 134 16/32. Par is on the basis of 100 points.
Product Symbol
ZN
Underlying Unit
One U.S. Treasury note having a face value at maturity of $100,000.
Deliverable Grades
U.S. Treasury notes with a remaining term to maturity of at least six and a half years, but not more than 10 years, from the first day of the delivery month. The invoice price equals the futures settlement price times a conversion factor, plus accrued interest. The conversion factor is the price of the delivered note ($1 par value) to yield 6 percent.
Price Quote
Points ($1,000) and halves of 1/32 of a point. For example, 126-16 represents 126 16/32 and 126-165 represents 126 16.5/32. Par is on the basis of 100 points.
Tick Size
(minimum fluctuation)
One-half of one thirty-second (1/32) of one point ($15.625, rounded up to the nearest cent per contract), except for intermonth spreads, where the minimum price fluctuation shall be one-quarter of one thirty-second of one point ($7.8125 per contract).
Contract Months
The first five consecutive contracts in the March, June, September, and December quarterly cycle.
These contracts are often affected by many of the economic reports that come out at 8:30 AM Eastern and there is very active volume between the hours of 8 AM EST and 3 PM EST
Volume on both contracts is very good. Ten years will often have 1 million contracts traded per day (might be the second most active US futures market after the mini SP 500) and the bonds will avg. around 300,000 contracts.
These markets can experience very volatile movements during and right after different reports but then will often trade smooth or in an intraday trend the rest of the day.
30 MINUTES chart of ZB ( t-bond futures) for your review below
30 Year Bond Futures Chart
To access a free trial to the ALGOS shown in the chart along with other tools? (Slanted arrows possible buy, pink squares = possible exit/ tighten stops) visit and sign up for a free trial for 21 days with real-time data.

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 when it comes to Futures Trading.

 

Futures Trading Levels

4-21-2021

c

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Bitcoin Driving Force? BRTI Chart for Review & Trading Levels 4.20.2021

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Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

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Dear Traders,

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Bitcoin seem to be the driving force behind some of the moves to start the week…..
Daily chart of the BRTI, the index of Bitcoin below for your review.
Notice the Index tested major support level ( red line) and for NOW was able to bounce of it…..
MICRO bitcoin futures contracts are coming soon!! May 3rd. We will send more info before hand but feel free to reach out to your cannon broker/ contact if you have any questions.
Bircoin Futures Daily Chart
To access a free trial to the ALGOS shown in the chart along with other tools? (Slanted arrows possible buy, pink squares = possible exit/ tighten stops) visit and sign up for a free trial for 21 days with real-time data.

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 when it comes to Futures Trading.

 

Futures Trading Levels

4-20-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Stock Index Futures Climb Higher, ES Chart Review & Support and Resistance Levels 4.16.2021

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Stock index futures continue to climb higher.
The speed of the move and the slope of the move starting to slow down…..
Next objective S&P’S is 4205.
However, If S&P’s relax, we could retrace back
to 4102.00. Then 4088.75 becomes SUPPORT. Finally, 4079 must HOLD.
A CLOSE below neutralizes the SECULAR BULL TREND.
Last SUPPORT is 4068.00.
The market speed, intraday behavior, volatility and more are MUCH different than what we saw prior to Good Friday. Almost as if someone flipped the switch….
Hourly SP500 chart for your review below, notice no “red bars”, mostly signals of trend resuming ( blue arrows) with a couple of possible “profit taking” in the form of red diamonds…..:
Mini ES (S&P) 60 Minute Chart
To access a free trial to the ALGOS shown in the chart along with other tools? (Slanted arrows possible buy, pink squares = possible exit/ tighten stops) visit and sign up for a free trial for 21 days with real-time data.

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 when it comes to Futures Trading.

 

Futures Trading Levels

4-16-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

One Way to Eliminate Fear and Greed While Day Trading & Futures Trading Levels 4.15.2021

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One Way to Eliminate Fear and Greed While Day Trading
Disclaimer
The methods described in this article are for educational purposes only. Past results are not necessarily indicative of future results. The author and the publisher assume no responsibility for your trading results. Trading involves a high degree of risk. No recommendation is being made to buy any stock, commodity, option or other financial instrument. Consult your financial advisor before starting any investment system.
It is a known fact that fear and greed can be a trader’s worst enemies.
I’ve found one way that has helped some clients deal with fear and greed and their cousin, “getting out of winners too soon and staying in losers too long.”
What is it?
Entering multiple contracts. Now with the MICROS, this trading approach is more feasible for many more traders than before.
Entering Multiple Contracts: Philosophy
In order to enter multiple contracts while day trading, one has to have the appropriate risk capital and margin requirements. But the advantage of trading more than one “unit” or splitting your trading size into two or more parts is as such:
If you enter a trade with one contract (or if you are treating your trading size as one unit, meaning you enter a trade with 4 contracts and exit the trade with 4 contracts), you can face a very quick dilemma, especially when day-trading. Consider the two following scenarios:
1. You get in and very quickly you are up 2 mini SP points…what do you do? Do you take profit? Bring your stop loss closer? How do you avoid getting out too early or too late?
2. You enter a trade and it goes against you rather quickly…if you get out then it is a loser…but the little voice in your head says “what if the market goes back up?”
In the first case scenario, when market decided to be nice to us and moved in our direction, I like to exit half of my positions relatively quickly. In the case of the mini SP, this would be around 11 ticks profit.
What I’ve found is that this will allow me to manage the rest of the trade in a much more relaxed manner. Since I’ve already locked profits in, now I can look for a proper stop close to my break-even level. I can analyze my next target more realistically and, if the market provides room for additional gains, be there to participate.
In the second case scenario, I can choose to risk a smaller amount or use a tight stop on the first half of my position and a bit wider stop on the other half of the position. This can help prevent the scenario when one does not get out of a trade because mentally one does not want to accept the loss.
Of course, there is much more to trading and day trading. Entry signals, exit techniques, why and when to get in a trade, and so on — all of these are key.
But I hope that this tip will assist you while trading and will prevent some of the instances where you get out of a trade too late or too early.

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 when it comes to Futures Trading.

 

Futures Trading Levels

4-15-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Futures Support and Resistance Levels 4.13.2021

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No commentary today – just levels and reports below to help you plan better for the next trading day!

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 when it comes to Futures Trading.

 

Futures Trading Levels

4-14-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Short Trading Videos and Futures Support and Resistance Levels 4.13.2021

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Dear Traders,

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Some nice short videos on different trading techniques one can explore at:
·    Ever wondered when to exit a trade? Take a look at what Ilan has to share on Bollinger Bands and a study called PARABOLICS
·    Some common uses you can make of support and resistance levels.
·    Filter out the noise with range bar charts
·    “Price Confirmation”
To access a free trial to the ALGOS shown in the videos along with other tools? (Slanted arrows possible buy, pink squares = possible exit/ tighten stops) visit and sign up for a free trial for 21 days with real-time data.

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 when it comes to Futures Trading.

 

Futures Trading Levels

4-13-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

SP500 Makes an All Time High w/ Chart & Support and Resistance Levels 4.09.2021

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And just like that…..Sp500 Futures made an all-time high.
The stimulus by the FED is the driving force….
Below is what I PERSONALLY consider valuable insight every morning by our friend, Al Bicoff. This was posted this morning on our FB group at https://www.facebook.com/groups/1105191589938254 :
GOOD MORNING.
We discussed these scenarios last month. HISTORY can repeat itself.
No two Bull or Bear markets are alike. This pandemic is similar to 1918 (post WW1), which originated in China, unfortunately killing 50 million globally. The pent up demand led to the Roaring 20’s, which is the cycle we’re presently in. With the FED all in with unprecedented stimulus, we could see a 8-9% GDP number!
Q.E. is $120 billion a month, coupled
with the 3 stimulus packages and the new $2.2 trillion infrastructure in the pipeline. Also, the FED is allowing inflation to run hot, above their 2% target, using a weak US$, as its main catalyst. Lastly, the SHORT END may remain untouched for 2 years.
Eventually, the FED will lose control of the LONG END of the curve!
Future CAVEAT, is that we all know how the Roaring 20’s ended on Oct. 29, 1929.
M S&P’s objective is 4,101 until a close
below 4023.50 occurs.
M DOW 35,000
WEEKLY mini SP chart for your review below.
Sp500 Futures Mini S&P, ES Weekly Chart
To access a free trial to the ALGOS shown in the chart along with other tools? (Slanted arrows possible buy, pink squares = possible exit/ tighten stops) visit and sign up for a free trial for 21 days with real-time data.

Good Trading

Sp500 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 when it comes to Futures Trading.

 

Futures Trading Levels

4-09-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Emini Russell Chart & Support and Resistance 4.08.2021

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Different rhythm to the market this week with Emini Russell versus what we saw last week before Good Friday.
Almost like two different animals all together…
Market rhythm, correlation between markets, money flow between assets, scheduled reports, longer term picture as well as volatility cycles all affect the intraday price action as well.
As far stock index futures, the emini Russell, RTY, has been a little smoother to trade in my opinion than the mini SP and MINI NASDAQ.
30 min chart for your review below:
Emini Russell Chart

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 when it comes to Futures Trading.

 

Futures Trading Levels

4-08-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Join us in our Private Facebook Group for Real Time Trade Updates, YM Chart Review & Support and Resistance Levels 4.07.2021

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Different rhythm to the market this week versus what we saw last week before Good Friday.
Market rhythm, correlation between markets, money flow between assets, scheduled reports, longer term picture as well as volatility cycles all affect the intraday price action as well.
Do your homework each day before you start trading and keep notes.
If you like to have access to “wisdom nuggets” like the ones below shared BEFORE the market open, then join our private FB group at:
Here are some note from how we started the week yesterday –
04.05.21 Monday Morning commentary by Al Bicoff
SCO = STOP CLOSE ONLY
XX = STOP
GOOD MORNING.
M S&P held ALGO’S SCO @ 3966.00
on Friday and exploded higher.
LOW was 3964.50
S&P objective is 4,050
US$ traded -0.28 again, triggering
short covering in GOLD, SILVER & CRUDE
BULLISH for EQUITIES!
BONDS, paradoxically rallied with S&P’s,
taking some insurance over the long weekend against EQUITIES.
Someone is wrong. BONDS or S&P.
Educated guess, BONDS. Therefore,
BONDS will break and S&P’S will rally.
DOW objective 35,000
GERMAN BUNDS:
10) -0.322%
20) -0.028% / negative again
30) +0.229%
U.S. RATES:
FED FUNDS WINDOW:
(J) CLOSED 0.1825% UNCH
02) 0.162%
10) 1.673%
30) 2.334%
2/10 Yield Curve Closed 1.511%
5/30 Yield Curve Closed 1.428%
M US$ / Closed 92.947 -0.289
SUPPORT:
92.92
92.81 Sell SCO
92.70
M DOW / Closed 33,037 +139
SUPPORT:
32,962
32,887 Sell SCO
32,804
M S&P / Closed 4010.00 +42.50
SUPPORT:
3995.50
3983.50 Sell SCO
3970.50
Money flow for M S&P’S:
Negative= N / Positive= P
K CRUDE down 1.01 / N
K Copper up 11.35 / P
M BONDS down 0.06 / P
M YEN up 0.115 / N
M PALLADIUM down 22.80 / N
M US$ down 0.046 / P
K LUMBER closed 1012.60 +3.50
K CRUDE / Closed $61.45 +$2.29
RESISTANCE:
65.86
64.52 Buy SCO
63.36
SUPPORT:
58.98
57.78 Sell SCO
56.39
M BONDS / Closed 156.07 +1.20
RESISTANCE:
158.11
157.23 Buy SCO
157.06
SUPPORT
155.06
154.21 Sell SCO
154.01
K COPPER / Closed $3.9905 -0.50
RESISTANCE:
4.1815
4.1415 Buy SCO
4.1070
SUPPORT:
3.9935
3.9685 Sell SCO
3.9400
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 when it comes to Futures Trading.
YM= Mini Dow 30 minute chart for your review below.
Emini Dow YM Futures Chart

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 when it comes to Futures Trading.

 

Futures Trading Levels

4-07-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Futures Trading Support and Resistance Levels 4.06.2021

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Commentary will resume tomorrow.

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 when it comes to Futures Trading.

 

Futures Trading Levels

4-06-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Good Friday Trading Schedule & Support and Resistance Levels 4.02.2021

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Good Friday this week. A bit different than most Good Fridays:
Heads up: usually, on Good Friday, ALL markets are closed. One of the few holidays when that happens. This year with NFP report ( unemployment) taking place on Good Friday, April 2nd, the CME modified the schedule and equity index futures, currency futures (Bitcoin included) and rate futures will be open for a limited amount of time to allow for hedging/ risk etc., see below:

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 when it comes to Futures Trading.

 

Futures Trading Levels

4-02-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Good Friday Holiday Trading Schedule & Support and Resistance Levels 4.01.2021

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Good Friday this week. A bit different than most Good Fridays:
Heads up: usually, on Good Friday, ALL markets are closed. One of the few holidays when that happens. This year with NFP report ( unemployment) taking place on Good Friday, April 2nd, the CME modified the schedule and equity index futures, currency futures (Bitcoin included) and rate futures will be open for a limited amount of time to allow for hedging/ risk etc., see below:

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 when it comes to Futures Trading.

 

Futures Trading Levels

4-01-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Good Friday Trading Schedule + Dollar Index Chart Review & Support and Resistance Levels 3.31.2021

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Last trading day of the month is tomorrow. The trading day is also FULL of reports. Be ready, know when reports are out. I use a tool I really like, called BetterTrader.co Free trial available.
Good Friday this week. A bit different than most Good Fridays:
Heads up: usually, on Good Friday, ALL markets are closed. One of the few holidays when that happens. This year with NFP report ( unemployment) taking place on Good Friday, April 2nd, the CME modified the schedule and equity index futures, currency futures (Bitcoin included) and rate futures will be open for a limited amount of time to allow for hedging/ risk etc., see below:
Dollar Index Chart for your review below. The DX has been a driving force behind moves in many commodities as most commodity futures are US$ based.
To access a free trial to the ALGOS shown in the chart along with other tools? (Slanted arrows possible buy, pink squares = possible exit/ tighten stops) visit and sign up for a free trial for 21 days with real-time data.

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 when it comes to Futures Trading.

 

Futures Trading Levels

3-31-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Good Friday 2021 Holiday Schedule for CME / Globex and ICE Exchange

Good Friday 2021 Holiday Schedule for CME / Globex and ICE Exchange

*Dates and times are subject to change

If you have any questions, please call the CME Global Command Center at +1 800 438 8616, in Europe at +44 800 898 013 or in Asia at +65 6532 5010

Globex® Good Friday 2021 Holiday Schedule for CME / Globex and ICE Exchange

More details at: http://www.cmegroup.com/tools-information/holiday-calendar.html 

ICE Futures Good Friday 2021 Holiday Schedule for CME / Globex and ICE Exchange

Detailed holiday hours for ICE Futures: https://www.theice.com/holiday-hours

The above sources were compiled from sources believed to be reliable. Cannon Trading assumes no responsibility for any errors or omissions.  It is meant as an alert to events that may affect trading strategies and is not necessarily complete.  The closing times for certain contracts may have been rescheduled.

EMini Dow (YM) Chart Review & Support and Resistance Levels 3.30.2020

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Friday and today we saw “extra erratic” behavior in stock index futures.
Some attribute this to the liquidation of hedge funds on the equities side.
Others voiced their opinion to me that while in points the moves are erratic, if you translate the moves into PERCENT % of change, it is not too much different than a 18 months ago or so…we are simply trading much higher so the same % move equals more in terms of points.
Either way, for me personally it has been tough to read the markets as of lately, especially the indices. Couple of things that have helped are: using the MICROS so I can place stops/ entries and targets based on the chart and NOT my fear index. The other is diversifying with other markets, for example my read with 30 yr bonds and crude oil have been better.( I also started using the mini crude with some clients pending account size for the same reason above: “reduce the heart attack index”) . Last but not least, I PERSONALLY found out that with recent volatility the Emini Dow YM or MYM ( micro Dow) as well as the RTY and M2K ( mini and micro Russell) have been easier for me to read than trying to make sense of ES and NQ.
30 minutes chart of the Emini Dow YM below for illustration of the above comments.

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 when it comes to Futures Trading.

 

Futures Trading Levels

3-30-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Price Action & Clues to Look For, Mini Russell Chart Review, & Support and Resistance Levels 3.25.2021

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Look for clues from other markets, Money flow between markets.
Who is leading the way?
Are bonds leading the way? perhaps crude oil prices?
How about among stock indices?
These past few days it seems to me that small caps are leading the way and not the NASDAQ like it was a few weeks ago.
Look for clues from the price action in the mini Russell (RTY)?
Explore/ learn possible spread trading like YM vs. ES
RTY vs. YM?
NQ vs ES?
2*RTY vs NQ? or perhaps 1 mini Russell vs 5 MNQ?
Just sharing some thoughts and ideas for you to explore and do some homework on….
30 minutes chart of the mini Russell from today below.
E-Mini Russell Futures
To access a free trial to the ALGOS shown in the chart along with other tools, visit and sign up for a free trial for 21 days with real-time data.

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 when it comes to Futures Trading.

 

Futures Trading Levels

3-26-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Using Range Bar Charts when Trading & Futures Support and Resistance Levels 3.24.2021

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Why I like using range bar charts for daytrading futures
video below

Range Bar Charts Video:

Why I like Using Range Bar Charts for Day-trading Futures

Good Trading

Range Bar Charts, Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involve substantial risk of loss and are 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 when it comes to Futures Trading.

 

Futures Trading Levels

3-25-2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

ES Chart Review & Support and Resistance Levels 3.24.2021

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Look for clues from other markets, Money flow between markets, small excerpt from my colleague Al Bicoff that he sent me this morning before the cash open:
Money flow for M S&P’S:
K CRUDE down 2.34 / negative
K Copper down 5.05 / negative
M BONDS up 0.17 / negative
M YEN up 0.035 / negative
M PALLADIUM down 2.0 / negative
M US$ up 0.427/ negative
30 minutes chart of the ES from today below.
ES 30 Minute Chart

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 when it comes to Futures Trading.

 

Futures Trading Levels

3-24-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Bollinger Bands & Parabolics for Trade Exits? & Support and Resistance Levels 3.23.2021

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Updates include variety of trading topics and insight like
How I like to use Bollinger bands and Parabolics for trade exits
video below:
How I like to Use Bollinger Bands and Parabolics for Trade Exits

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 when it comes to Futures Trading.

 

Futures Trading Levels

3-23-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Crude Oil Futures Chart Review & Support and Resistance Levels 3.19.2021

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Wow Crude Oil Futures!! May is now front month. CLK21 or GCLK21 or CLEK21
Daily chart below for reference.
Crude Oil Futures Daily Chart

Good Trading

Crude Oil 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 when it comes to Futures Trading.

 

Futures Trading Levels

3-19-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

ES Tick Chart Review & Support and Resistance Levels 3.18.2020

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FOMC days are definitely different type of trading days!
Quiet choppy pre FOMC and then volatile, two sided action followed by a small sell off and then a sharp rally.
Write some notes in your trading journal. What the market did, how did you react, as much insight as you can so before the next FOMC meeting you can look back and use the notes for better trading.
Intraday ES ( mini SP500 ) chart below for your review.
Note the chart is a RANGE BAR chart, 12 ticks range bars in this case, covering the action from the actual announcement.
Emini ES Tick Chart

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 when it comes to Futures Trading.

 

Futures Trading Levels

3-18-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Rollover Indices/ Currencies/ Financials, FOMC Tomorrow & Support and Resistance Levels 3.16.2021

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It’s that time of the year where June contract is the front month for all stock indices/ currencies/ financials and other markets!
Rollover!!
Tomorrow we have FOMC.
Normally the volatility is around the actual rate cut/increase….This time it is 99.99% of no change. Language in the statement will be the main feature.
However, FOMC days do have unique behavior and this time my guess is, it will be around the language used after the announcement.
The following are my PERSONAL suggestions on trading during FOMC days:
·    Reduce trading size
·    Be extra picky = no trade is better than a bad trade
·    Choose entry points wisely. Look at longer time frame support and resistance for entry. Take the approach of entering at points where you normally would have placed protective stops. Example, trader x looking to go long the mini SP at 3925.00 with a stop at 3919.00, instead “stretch the price bands” due to volatility and place an entry order to buy at 3919.75 and place a stop a few points below in this hypothetical example ( consider current volatility along with support and resistance levels).
·    Expect the higher volatility during and right after the announcement
·    Expect to see some “vacuum” ( low volume, big zigzags) right before the number.
·    Consider using automated stops and limits attached to your entry order as the market can move very fast at times.
·    Keep in mind statement comes out at 1 Pm Central time, the news conference which dissects the language comes out 30 minutes later so the volatility window stretches out.
·    Know what the market was expecting, learn what came out and observe market reaction for clues
·    Be patient and be disciplined
·    If in doubt, stay out!!

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 when it comes to Futures Trading.

 

Futures Trading Levels

3-17-2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

Modifying Your Trading Strategy in Volatile Market Conditions & Support and Resistance Levels 3.16.2021

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The different pulse of the markets on different days makes a big difference. The strategies used on fast and volatile market may not work when the same market is choppy and quieter. I think that maybe there are some rare strategies that will work in all market environments but I have never seen one yet….So be aware of how the market/ markets you are trading are acting.
What type of action did the overnight session had?
How did the first 30 minutes of primary session went ( in markets like stock index futures where the underlying asset, i.e. stocks, just opened)?
Does it seem like the day ahead will be one of those speedy, crazy type of price action? or perhaps choppy? possibly a trending day?
Certain strategies will work better. Know what weapons in your trading arsenal will work better in what type of market conditions and try to adjust accordingly.

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 when it comes to Futures Trading.

 

Futures Trading Levels

3-16-2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

Join us on our Private Facebook Group w/ Real Time Future Market Updates & Support and Resistance Levels 3.12.2021

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Here is what we shared this morning around 730 AM CDT….
Valuable information, in MY OPINION.
REAL TIME TRADE ALERTS/UPDATES on FACEBOOK

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 when it comes to Futures Trading.

 

Futures Trading Levels

3-12-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Futures Support and Resistance Levels 3.11.2021

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Very few words of wisdom today!
Trade well, be safe, remember to breathe and have a game plan while trading, if you ever catch yourself just REACTING and pulling the trigger with no game plan behind, take a break, pause and reset.
Get Real Time updates and more on our private FB group!

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 when it comes to Futures Trading.

 

Futures Trading Levels

3-11-2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

Adjusting Trading Style w/ Market Volatility, Join Cannon Trading Real Time Trade Alerts Group & Support and Resistance Levels 3.09.2021

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Market pace, dynamics, volatility and the speed of movement are fascinating to say the least.
requires traders to adjust in more than one way.
Reduce trade size?
Widen up targets and stops?
Consider short term options?
Use MICROS rather than the minis?
Get Real Time updates and more on Cannon Trading’s private FB group!
Examples of info shared intraday can be seen below in the screen shots!!
Cannon Trading Facebook Group Real Time updates
Cannon Trading Facebook Group Real Time updates

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 when it comes to Futures Trading.

 

Futures Trading Levels

3-10-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Looking at Short Term Options & Support and Resistance Levels 3.09.2021

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We started the week exactly where we left off….High, erratic type of volatility. It started on the open Sunday night and did not stop all the way through the session.
When markets move that fast, one way you may want to explore is trading very short term options rather than futures.
Example: You think the SP500 ( ES or MES) are going down today. If you use futures and place a “normal stop” most chances today is that you would have gotten stopped out. A possible alternative to explore is to use the Monday expiration mini SP options. If you buy a put, your risk in that specific example is limited to premium + cost of trade.
You will have MUCH better staying power and a chance to profit if you are correct.
This is obviously a very simple, briefly explained example but our series 3 brokers will be happy to expand, answer questions and review the + and _ of diff. strategies.
One last note about the options, at times activity on options can be used as another possible signal. Example, market is rallying but the closer to the money puts are actually gaining value? that is a sign that there is additional demand and possible pressure lower.

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 when it comes to Futures Trading.

 

Futures Trading Levels

3-09-2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

Volatility Continues, ES Chart Review & Support and Resistance Levels 3.04.2021

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Volatility continues. Rates are the driving force now days.
June is now the front month for rates.
May is front month for silver, copper and most grains.
April crude and natural gas. OPEC meeting tomorrow!
Get Real Time updates and more on our private FB group!
Hourly chart of the ES below for your review along with potential levels of support and resistance.
Mini S&P ES Futures 60 minute chart

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 when it comes to Futures Trading.

 

Futures Trading Levels

3-04-2021

Futures Trading Levels 3.04.2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Rapid Volatility in the Futures Markets & Support and Resistance Levels 3.05.2021

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NFP tomorrow. Non Farm Payrolls.
Market moving event that comes out at 7:30 AM central time.
Markets have been moving EXTREMELY FAST. I was watching price action in the NQ, Copper, Crude oil and few more and the velocity of the price moves was something I have not seen since last March when COVID started.
I Personally feel that if you are trading some of these very volatile markets you should have the STOP order attached to your entry. At times I have seen the NQ move over 60 points in less than 15 seconds….
Understand that with this volatility he BANDS get wider. I don’t see how anyone can make money if they are only use 2 points stop on the ES unless they have a crystal ball…..
If you feel over stressed because of volatility, consider reducing trading size, perhaps trading MICROS rather than the minis.
Remember to breath while trading. Try to have the full trading plan before you pull the trigger.

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 when it comes to Futures Trading.

 

Futures Trading Levels

3-05-2021

Futures Support & Resistance Levels 3.05.2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Mini Nasdaq Chart & Support and Resistance Levels 3.03.2021

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Time to trade June bonds, May silver and May copper as well as May grains.
Stock futures and currencies don’t roll over until mid March and we will send a separate notice.
The recent volatility reminds me of last March, when COVID started.
I have a few points to make:
  1. Take a look at the below chart from today on the mini NASDAQ this volatility will play both sides and in MY OPINION this is not a market to just buy and hold using futures….You need to be able to react and adjust positions according to market action and sentiment.
  2. DON’T try to predict tops and bottoms….
  3. Learn to reduce trading size. Perhaps trade smaller contracts like the micros.
  4. Understand that loses are part of trading and this is definitely not a good time to “fight the markets”.
  5. Focus more on risk management and ways to protect certain positions as needed.
  6. Survive to trade another day.
  7. LIMITS guidelines visit: https://www.cmegroup.com/trading/equity-index/faq-sp-500-price-limits.html
Emini Nasdaq NQ Chart

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 when it comes to Futures Trading.

 

Futures Trading Levels

3-03-2021

Futures Support & Resistance Levels 3.03.2021

Economic Reports, source: 

 www.BetterTrader.co

BetterTrader Economic Indicators

 

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 here in 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 judgement in trading.

US Bonds Futures Chart & Support and Resistance Levels 3.02.2021

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I think March has most trading days of any month.
I wish all of you a great trading month ahead!
Volatility continues. Rates are the driving force now days.
June is now the front month for rates.
May is front month for silver, copper and most grains.
Weekly chart of the US bonds below for review.
30 Year Bond Futures Chart

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 when it comes to Futures Trading.

 

Futures Trading Levels

3-02-2021

Futures Support & Resistance Levels 3.02.2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

High Volatility in Futures Markets, NQ Chart & Support and Resistance Levels 2.25.2021

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Time to trade June bonds, May silver and May copper as well as May grains.
Stock futures and currencies don’t roll over until mid March and we will send a separate notice.
Tomorrow is the last trading day of the month ( yup…February is a very short trading month….). First and last trading days of the month, can at times experience even higher volatility as large traders may close positions/ profits & losses to start a fresh month.
Also some markets will have end of month options expirations.
The recent volatility reminds me of last March, when COVID started.
I have a few points to make:
  1. Take a look at the below chart from today on the mini NASDAQ this volatility will play both sides and in MY OPINION this is not a market to just buy and hold using futures….You need to be able to react and adjust positions according to market action and sentiment.
  2. DON’T try to predict tops and bottoms….
  3. Learn to reduce trading size. Perhaps trade smaller contracts like the micros.
  4. Understand that loses are part of trading and this is definitely not a good time to “fight the markets”.
  5. Focus more on risk management and ways to protect certain positions as needed.
  6. Survive to trade another day.
  7. LIMITS guidelines visit: https://www.cmegroup.com/trading/equity-index/faq-sp-500-price-limits.html
Emini Nasdaq NQ 60 minute chart

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 when it comes to Futures Trading.

 

Futures Trading Levels

2-26-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Futures Support and Resistance Levels 2.25.2021

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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 when it comes to Futures Trading.

 

Futures Trading Levels

2-25-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Why Use Tick & Volume Charts, Mini NQ Review and Support & Resistance Levels 2.23.2021

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Why I like to use tick and volume charts for scalping
Today I decided to touch more on an educational feature rather than provide a certain market outlook.
Many of my clients and blog readers know that when it comes to short term trading I am a fan of using volume charts, tick charts, range bar charts and Renko charts rather than the traditional time charts like the 1 minutes, 5 minutes etc.
My rule of thumb is that if you as a trader make decisions based on charts that are less than 15 minutes time frame, it may be worth your time to research, back test and do some homework as to potentially using other type of charts like volume charts , Range charts etc.
Volume charts will draw a new bar once a user defined number of contracts traded. Example mini SP 10,000 volume chart will draw a new bar once 10,000 contracts traded.
Range bar charts will draw new charts once price action has exceeded a user pre define price or ticks range. Example might be an 18 ticks range bar chart on crude oil.
While the volume charts rely ONLY on volume, the range bar charts rely ONLY on price action.
Their main advantage over traditional time charts is twofold in my opinion:
1. If the market is moving fast, reports came out or there is heavy volume in the market, the traditional 5 minute chart will need 5 minutes to complete the next bar before it provides you with a signal…if you day traded futures before you will know what 5 minutes can do….The volume charts or range bar charts in this case will complete the bars MUCH faster because there is strong price action and strong volume and will be able to provide a signal faster than the time charts.
2. On the flip side, there are times when the market is dead…low volume, sideways, choppy action. If you are using the 3 minute chart and a moving avg. cross over, you may get a signal simple because time has passed and the moving averages crossed even though the market is pretty dead….If you are using a volume chart and the market is slow…it will take a while for the bars to complete and hence it may filter out some “noise” in the market.
Below is a 5,000 CVB ( constant volume Bar) of the NQ. If you like a free trial to the “turning points indicators” highlighted in the charts below or to discuss more in depth different charts and strategies, feel free to visit us!
Mini NQ Volume Bar Chart

Mini Nasdaq Futures Volume Bar Chart

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 when it comes to Futures Trading.

 

Futures Trading Levels

2-24-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Volatility Remains High & Support and Resistance Levels 2.23.2021

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We started the week with a weaker US$, higher crude oil prices, higher metals along with a shift in stock indices with money flowing out of the NASDAQ and more into the Dow Jones.
Volatility remains high and with the risk of sounding like a broken record, have a game plan and trade management outline before you just jump in long or short any market…..
Spreads are another tool to consider and familiarize yourself with ( good article here)

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 when it comes to Futures Trading.

 

Futures Trading Levels

2-23-2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

Copper Futures Highs & Support and Resistance Levels 2.19.2021

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Tomorrow is Friday, Feb. 19th. Reports and numbers for the trading day are below.
I noticed over the years that diff. week days have diff. behavior….
I was running one system in the past that found out its worst performing day was Friday….and coded the system not to trade on Fridays.
I also noticed that Mondays have a better chance of a trend day – perhaps because the longer term traders were able to make decisions based on the weekly charts?
Maybe I am over analyzing….but either way, keeping a trading journal with diff. details on market behavior, reactions to the diff. trading reports, how you acted and traded etc. can provide you with great insight down the road.
Copper reached a new 52 weeks high, highest level since Sept. 2012 – weekly chart for your review below.
Copper Futures Weekly Chart

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 when it comes to Futures Trading.

 

Futures Trading Levels

2-19-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Bitcoin Futures Chart & Support and Resistance Levels 2.18.2021

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No words of wisdom today. I think market movement drained me today…..
However, Bitcoin futures chart is “screaming: Please post me…I am over $50,000…..” but since I want to share a MONTHLY chart, I am sharing the monthly chart of Bitcoin Real Time Index, not the actual futures contract which is only a few years old. Fibonacci extensions are displayed on the chart – just for fun.
Bitcoin Futures Chart

Bitcoin Futures Monthly Chart

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 when it comes to Futures Trading.

 

Futures Trading Levels

2-18-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Platinum Futures Chart & Support and Resistance Levels 2.17.2021

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Higher volatility after the long weekend in variety of markets.
Bond are trading lower and crude is above $60.
Bitcoin futures traded above 50,000….
Platinum gold spread is moving even faster in favor of Platinum ( daily chart below).
Dynamics are changing intraday and at times fast.
Some days are choppy, some days are fast and here and there we get some strong trend days.
Must be nimble and focused while trading, today and every day.
Platinum Daily Chart Below – click on chart for larger image.
Platinum Futures Daily Chart

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 when it comes to Futures Trading.

 

Futures Trading Levels

2-17-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Presidents Day Trading Schedule & Futures Trading Levels 2.12.2021

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No words of wisdom today. Please review the Presidents Day Trading Schedule below.
Presidents Day Futures Trading Schedule 2021
Presidents Day Futures Trading Schedule

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 when it comes to Futures Trading.

 

Futures Trading Levels

2-12-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

President’s Day Trading Schedule 2021, Mini Nasdaq Chart and Futures Support & Resistance Levels 2.11.2021

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As stock index futures increase in price, the same 1-2% intraday movements translate into MUCH larger POINTS movement intraday.
The MICROS are becoming more and more attractive option for trading for accounts less than $10,000.
Feel free to reach out and chat with a licensed broker or visit our MICROS resource page.
Daily chart of the NQ below for your review.
Might be overbought but the uptrend still in tact.
Mini Nasdaq Daily Chart
Presidents Day Futures Trading Schedule 2021
Presidents Day Futures Trading Schedule

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 when it comes to Futures Trading.

 

Futures Trading Levels

2-11-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Presidents Day 2021 Holiday Schedule for CME / Globex and ICE Exchange

Presidents 2021 Holiday Schedule for CME / Globex and ICE Exchange

Presidents Day Futures Trading Schedule 2021

CME GLOBEX Presidents Day Schedule

 

*Dates and times are subject to change

If you have any questions, please call the CME Global Command Center at +1 800 438 8616, in Europe at +44 800 898 013 or in Asia at +65 6532 5010

Globex® President’s Day 2021 Holiday Schedule for CME / Globex and ICE Exchange

More details at: http://www.cmegroup.com/tools-information/holiday-calendar.html 

ICE Futures President’s Day 2021 Holiday Schedule for CME / Globex and ICE Exchange

Detailed holiday hours for ICE Futures: https://www.theice.com/holiday-hours

The above sources were compiled from sources believed to be reliable. Cannon Trading assumes no responsibility for any errors or omissions.  It is meant as an alert to events that may affect trading strategies and is not necessarily complete.  The closing times for certain contracts may have been rescheduled.

Futures Trading Resources & Support and Resistance Levels 2.10.2021

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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 when it comes to Futures Trading.

 

Futures Trading Levels

2-10-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Silver Daily Chart & Support and Resistance Levels 2.05.2021

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Silver…..it has been a very volatile ride both sides….What’s next?
Non Farm Payrolls tomorrow…..NFP is definitely a market mover!
Silver Daily Continuation Chart
To access a free trial to the ALGOS shown in the chart along with other tools, visit and sign up for a free trial for 21 days with real-time data.

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 when it comes to Futures Trading.

 

Futures Trading Levels

2-05-2021

Futures Support & Resistance Levels 2.05.2021

Economic Reports, source: 

 www.BetterTrader.co

BetterTrader Reports 2.05.2021

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 here in 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 judgement in trading.

Futures Trading Support & Resistance Levels 2.04.2021

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No words of wisdom today…simply trading levels and reports for your information below.

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 when it comes to Futures Trading.

 

Futures Trading Levels

2-04-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Emini NQ Active Chart & Futures Support and Resistance Levels 2.03.2021

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The volatility right around the time AMZN & GOOGL earnings came out was unreal!!
Add on top of it the recent volatility in silver futures and if you are in search of volatility….there is plenty around, for good and bad.
Take a look at the 10 SECONDS chart of the NQ below from todays close…..
$2000 against you or in your favor per one mini Nasdaq in 90 seconds!!
Emini Nasdaq Chart

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 when it comes to Futures Trading.

 

Futures Trading Levels

2-03-2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

Futures Silver Chart & Support and Resistance Levels 2.02.2021

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First day of February started out with continued volatility across different markets ( silver, stock index futures and a few more).
Wishing all of you successful trading this month!
Silver weekly chart below for your viewing.
Futures Silver Chart

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 when it comes to Futures Trading.

 

Futures Trading Levels

2-02-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Futures Support & Resistance Levels 1.29.2021

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And just like that the last trading day of January 2021 is upon us…..
If the first month of 2021 is any indication, then we may have a VERY volatile year ahead!

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 when it comes to Futures Trading.

 

Futures Trading Levels

1-29-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Survivor Day-Trader & Futures Support and Resistance Levels 1.28.2021

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Survivor Day-Trader
By: Ilan Levy-Mayer, Cannon Trading VP
Survivor Day Trading
This article was published by the Stocks, Futures, & Options Magazine in September, 2007 and was written by our VP, Ilan Levy-Mayer. We think this article is timeless and whether you are beginner or advanced trader, you will enjoy it.
Perhaps the greatest luxury I have in this business is the ability to observe the experiences of many traders with different personalities, life schedules and risk capital, each trading in a variety of markets. What most astute brokers realize is that, over time, as some individuals prematurely exit winners while others desperately cling to losers.
I started as a commodity broker back in 1998, when commissions of $25 per round turn for the E-minis were considered a deep discount. I had the luxury of observing many types of day traders and saw things from the sidelines that most traders could not see during the heat of battle, one of which is the importance of solid money management for the long-term survival of day trade.
Day trading is by definition a trade that is initiated and completed during the same trading day. In this wide category, you will find many types of traders. On one end of the spectrum are scalpers, who go for one or two ticks of profit several times a day in trades lasting just seconds. On the other side are speculators who stay in a position from the start of the day until the close. One of the main appeals of day trading for all types is that the trader goes home flat without having to worry about positions. When the market closes, the day is done.
Money management, as the name implies, is applying prudent principles to help conserve your trade (risk) capital. Without risk capital to trade, a speculator does not have a chance to succeed.

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 when it comes to Futures Trading.

 

Futures Trading Levels

1-28-2021

Futures Support & Resistance Levels 1.28.2021

Economic Reports, source: 

 www.BetterTrader.co

Better Trader Reports 1.28.2021

 

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 here in 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 judgement in trading.

Soybean Future Trading Daily Chart & Futures Support and Resistance Levels 1.27.2021

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The difference between yesterday and today is one of the strongest contrasts I have seen!
The market went from driving at 180 MPH, erratically…to driving 25 MPH, obeying all the speed bumps.
Was it news headlines yesterday? Lack of news today? Did market participants get tired? Are you prepared for future trading?
Normally volatility will go in waves and now from 100% to 10% in one day.
If one could only forecast volatility, would make ones trading life much easier.
Speaking of volatility, FOMC tomorrow along with Crude Oil numbers before that and a few more reports.
Know what news are coming, which ones affect the markets you trade.
While I touch base quite often on ES, NQ and other stock indices, I also like to follow other markets. Some are better for shorter term trading some are better for swing or longer term etc. future
trading predictions really depends on how they are performing. One of these markets, soybeans futures. Daily chart below. Click for larger Image.
Future Trading

Good Future Trading

Trading Futures, Options on Future Trading, 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 when it comes to Futures Trading.

 

Futures Trading Levels

1-27-2021

Futures Support and Resistance Levels 1.27.2021 / Future Trading

Economic Reports, source: 

 www.BetterTrader.co

BetterTrader Reports 1.27.2021 / Future Trading

 

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 here in 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 judgement in trading.

Futures Support and Resistance Levels 1.26.2021

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What crazy price action today in stock index futures….all over the place, erratic moves, very tough in my opinion…..
Manage risk first, look for profits second.
Easier said than done but worth mentioning.

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 when it comes to Futures Trading.

 

Futures Trading Levels

1-26-2021

Economic Reports, source: 

 www.BetterTrader.co

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 here in 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 judgement in trading.

Futures Support and Resistance Levels 1.22.2021

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Manage risk first, look for profits second.
Easier said than done but worth mentioning.

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 when it comes to Futures Trading.

 

Futures Trading Levels

1-22-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Emini ES 60 min Chart & Support and Resistance Levels 1.21.2021

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It is very interesting to observe the different type of trading days the market presents us with.
Some are very choppy, some are extremely volatile both ways and some can be “dead” at times. Every now and again we get a big strong move. Up or down that behaves like a “text book example”. Much easier to observe AFTER the fact and this is exactly what the hourly chart of the mini SP 500 shows you.
A buy signal, followed by “price confirmation”, market holding on to the support level at 1289.50 and rallying hard on inauguration day.
Hourly ES chart from today, 1.20.21
ES Futures 1 hour chart 1.20.2021

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 when it comes to Futures Trading.

 

Futures Trading Levels

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Futures Live Cattle Weekly Chart & Support and Resistance Levels 1.20.2021

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Markets have had a “weird rhythm” these past few days. Between MLK holiday we had yesterday and Inauguration tomorrow, it seems like there is a wait for something….not sure if it make sense or not but one can feel it by observing the tape.
During times of uncertainty, RISK management, patience and discipline become even more important.
Live Cattle Weekly Chart for Longer term Perspective. We had a possible upside breakout on the daily today.
Futures Live Cattle Weekly Chart

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 when it comes to Futures Trading.

 

Futures Trading Levels

1-20-2021

Futures Support & Resistance Levels 1.20.2021

Economic Reports, source: 

 www.BetterTrader.co

BetterTrader Futures Reports 1.20.21

 

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 here in 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 judgement in trading.

MLK Trading Schedule, Monthly Soybeans Chart, & Support and Resistance Levels 1.15.21

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MLK trading schedule below.
Take note as most markets will halt at noon central.
CME GLOBEX ML King Jr Holiday Schedule 2021
Monthly Soybeans Chart for Longer term Perspective.
Monthly Soybean Chart

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 when it comes to Futures Trading.

 

Futures Trading Levels

1-15-2021

 

Futures Support & Resistance Levels 1-15-2021

Economic Reports, source: 

 www.BetterTrader.co

BetterTrader 1.15.2021

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 here in 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 judgement in trading.

Martin Luther King Jr. 2021 Holiday Schedule for CME / Globex and ICE Exchange

Martin Luther King Jr. 2021 Holiday Schedule for CME / Globex and ICE Exchange

CME GLOBEX Martin Luther King Jr. Futures Holiday Schedule

*Dates and times are subject to change

If you have any questions, please call the CME Global Command Center at +1 800 438 8616, in Europe at +44 800 898 013 or in Asia at +65 6532 5010

Globex® Martin Luther King Jr 2021 Holiday Schedule for CME / Globex and ICE Exchange

More details at: http://www.cmegroup.com/tools-information/holiday-calendar.html 

ICE Futures Martin Luther King Jr 2021 Holiday Schedule for CME / Globex and ICE Exchange

Detailed holiday hours for ICE Futures: https://www.theice.com/holiday-hours

The above sources were compiled from sources believed to be reliable. Cannon Trading assumes no responsibility for any errors or omissions.  It is meant as an alert to events that may affect trading strategies and is not necessarily complete.  The closing times for certain contracts may have been rescheduled.

Volume Based Trading Emini NQ & Support and Resistance Levels 1.14.2021

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Today I am sharing an example of using volume chart along with FIB levels when following intraday market action.
Market is NQ
Chart type is CVB = constant volume bar
5000 contracts traded complete one bar.
This model uses a theory that when it comes to short term day trading, volume is much more important than time, hence the use of volume bars. I use bars of between 1,000 to 18,000 contracts traded (pending the specific market, based on recent volatility, trade volume and a few other factors). That means that instead of bars completing based on time frame (i.e. 1 minute or 15 minutes etc.), we use volume instead of time. So each time X,000 contracts traded, a new bar will complete.  When the specific market has high volume and is moving fast, the bars will complete faster. When market is in low volume without much action, the bars will complete slower.
For me personally, this has helped getting signals ahead of time when there is fast action in the market and avoiding false signals when volume is low.
Needless to say volume charts on their own are no crystal ball and there is much more to trading but may help you take a look at your charts from a a diff. angle.
NQ Emini - Nasdaq Volume Base Chart

NQ Emini – Nasdaq Volume Base Chart, 5000 contracts 1.13.2021

To access a free trial to the ALGOS shown in the chart along with other tools, visit and sign up for a free trial for 21 days with real-time data.

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 when it comes to Futures Trading.

 

Futures Trading Levels

1-14-2021

Futures Support & Resistance Levels 1.14.2021

Economic Reports, source: 

 www.BetterTrader.co

BetterTrader Futures Reports 1.14.21

 

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 here in 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 judgement in trading.

Futures Support & Resistance Levels 1-13-2021

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Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

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Dear Traders,

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No words of wisdom today…..or a chart for review….
Just trading levels and reports below.
If you are still “hungry for some trading tidbits” – then click here.

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 when it comes to Futures Trading.

 

Futures Trading Levels

1-13-2021

Futures Support & Resistance Levels 1-13-2021

Economic Reports, source: 

 www.BetterTrader.co

 

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 here in 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 judgement in trading.

Big Moves in Metals Sector & Futures Support and Resistance Levels 1.12.2021

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Big Moves in the metals sector the last few days, including the “favorite child” – Dr. Copper….
Previous sell signals in the shape of red diamonds only generated very small downward moves if any, compare to the same exact signal to the buy side = mechanics of a bull trend. The big question today is will we see more follow through on this sell signa?
Copper Futures Daily Continuation Chart 1.11.2021

Big Moves in the metals sector the last few days, including the “favorite child” – Dr. Copper….

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 when it comes to Futures Trading.

 

Futures Trading Levels

1-12-2021

Futures Support & Resistance Levels 1.12.2021

Economic Reports, source: 

 www.BetterTrader.co

BetterTrader Economic Indicators 1.12.2021

 

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 here in 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 judgement in trading.

Bitcoin Index Futures Soar & Support and Resistance Levels 1.08.2021

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Dear Traders,

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Monthly NFP ( non farm payroll ) tomorrow before the market opens, normally a market moving report.
Bitcoin Index from the CME chart for your review simply because it screams out, “What’s next,” now that the total value of the entire cryptocurrency market has eclipsed $1trillion. Some have harkened back to Tulip mania in 1637, considered the first recorded speculative bubble. Of all things, prices for tulip bulbs were what skyrocketed then dramatically collapsed. Others have contended Bitcoin’s rise has just begun, holding out values of $100-, $150- then $200,000. They may both be right; they may both be wrong.
Bitcoin Futures Weekly Chart 1.07.2021

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 when it comes to Futures Trading.

 

Futures Trading Levels

1-08-2021

Futures Support and Resistance Levels 1-08-2021

Economic Reports, source: 

 www.BetterTrader.co

BetterTrader Futures Reports 1.08.2021

 

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 here in 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 judgement in trading.

Volatility in the Futures Markets & Trading Risk Management, Support & Resistance Levels 1.07.2021

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Dear Traders,

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If the first THREE trading day of 2021 are any indication of the year to come….Better fasten your seatbelts!!
  1. Learn to reduce trading size. Perhaps trade smaller contracts like the micros.
  2. Understand that loses are part of trading and this is definitely not a good time to “fight the markets”.
  3. Focus more on risk management and ways to protect certain positions as needed.
  4. Survive to trade another day.
Markets are moving extremely fast and at times quoting systems, platforms can’t even keep up.
The risk is MUCH GREATER than I have seen since March, yet some traders look for it.
That is ok, as long as you :
Know the rules, understand current margins, know where the circuit breakers are/ limit moves.
Figure out your max risk.
After you do all that, feel free to trade but jumping in and trying to trade without the basic knowledge above is like jumping into a stormy ocean without a life vest…..

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 when it comes to Futures Trading.

 

Futures Trading Levels

1-07-2021

Futures Support & Resistance Levels 1.07.2021

Economic Reports, source: 

 www.BetterTrader.co

Better Trader Futures Reports 1.07.2021

 

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 here in 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 judgement in trading.

CME MICROS: Micro Mini Futures Contract

CME MICROS, more commonly known as Micro E-Mini Futures Contracts, have been trading with great success since they were first introduced by the CME Group in 2019.   In terms of liquidity, for both smaller and newer futures traders, the Micro E-Mini has made futures trading more affordable and  accessible to the independent investor, who may not have large amounts of risk capital to invest.

Standard futures contracts and Mini Futures Contracts are sized to a certain value multiplied by the futures price.  For example a mini contract sells for $50 x the contract price.  The E-mini S&P 500 has a contract size of $50 times the E-Mini futures contract price, which if the contract price is say $1,240, then the contract value is $62,000.

CME states all four of the Micro E-Mini Futures Contracts are 1/10 the size of their respective E-mini futures counterparts – allowing all traders futures exposure without the notional constraints of the larger contracts.  These Micro Minis include the follow contracts:  S&P 500, Nasdaq-100, Russell 2000, and the Dow Jones Industrial Average.

 

What Is a Micro Mini Futures Contract

Micro E-Minis are one-tenth of the size of a traditional E-Mini contract, which allowing for lower margins and requires a significantly lower investment capital than their standard counterparts.

If the S&P 500 index is 2950, the micro e-mini value is 5 times the value of the index or $14,750 versus the value of a  standard e-mini contract, which is 50 times the price, and would set an investor back $147,500.  While the contract value is significantly higher, so is the exposure to market fluctuations.  This is where the benefit of the Micro E-mini comes in.

The Micro E-Mini contract is a significantly smaller contract than the mini or standard futures contract, which can set an investor back several thousand dollars.  The micro E-mini offers a much more affordable way for traders to access the equity index futures markets.

 

How Do Micro E-Mini Futures Contract Work?

While a standard E -mini S&P 500 futures contract has a value of $50 times the contract price – the Micro E-mini S&P 500 futures contract has a value of just $5 times the contract price, making this a much more affordable futures contract vehicle.

Your upward and downward exposure to fluctuations in the market is significantly reduced.

Most traders will use MICROS for short term trading, and can day trade the micros with less than $2,000 in the account.  Both losses and gains are smaller relative to the Mini S&P, but there are still risks associated even if you trade Micro E-Mini Futures.

Open a new trading account here

 

Why Invest in Micro E-Mini Futures

Experienced traders will enjoy the efficiency of the contract, the ability to sell short with ease, and the possibility of benefitting from short- and long-term profit and loss tax rules.  New traders will appreciate more affordable options of Micro E-Mini Futures Contracts, that incur less risk at just $5 times the contract value and have lower margins.

This allows new investors with limited assets to participate in this exciting market with limited exposure to risk, and for a much larger pool of traders.  Cannon is excited to bring in new traders, as well as, offering more diverse and flexible portfolio of futures trading options to new and  current clients.

Contact Cannon Trading here for more details on investing in Micro E-Mini Futures Contracts, or other futures investments.

“The MICROS offer a few advantages for both new and experienced traders”, says Ilan Levy-Mayer, Cannon’s VP. “If one wants to move from demo to live trading, one can start with the MICROS and utilize less capital and ease into the live trading part with smaller contracts. Another advantage is the ability to scale in and scale out and last but not least, longer term trades or maybe swing trades might be better utilized using the smaller MICROS.”

In addition to the micro e-minis, Cannon Trading brokers can also help investors trade MICRO gold.  Learn more here.

Appx Daily & Monthly Volume(December 2020)

Micro E-mini S&P March Contract (MESH21) Daily Volume – 57,180

Micro E-mini S&P March Contract (MESH21) Monthly Volume – 1,143,585

Micro E-mini Nasdaq March Contract (MNQH21) Daily Volume – 227,598

Micro E-mini Nasdaq March Contract (MNQH21) Monthly Volume – 4,551,970

Micro E-mini Dow Jones March Contract (MYMH21) Daily Volume – 50,061

Micro E-mini Dow Jones March Contract (MYMH21) Monthly Volume – 1,001,220

Micro E-mini Russell March Contract (M2KH21) Daily Volume – 34,335

Micro E-mini Russell March Contract (M2KH21) Monthly Volume – 686,700

Micro gold Feb Contract (MGCG21) Daily Volume – 51,118

Micro gold Feb Contract (MGCG21) Monthly Volume – 1,022,350

 

Benefits of the Micro E-Mini Futures Contract

The economical aspect of the Micro E-Mini is perhaps its largest draw. In the S&P a trader traditionally must maintain a minimum margin of $13,000, but with the new Miro E-Mini, that margin may now be as low ae $1,300. With these lower margins, more and more traders will now be able to make investments based on where they think the markets may be headed with Stock index futures contracts. Those who now trade with exchange-traded funds (ETFs) can now more easily expand to the futures market.

Cannon Trading stresses the importance of finding a broker that offers the most up-to-date technology and resources available. They also stress the importance of choosing a firm whose brokers have experience and specialize in an array of market corners, thus making it easier for them to customize their services to every trader’s needs and objectives. “At Cannon Trading we offer an expansive selection of cutting-edge technology, and our brokers are knowledgeable and experienced enough to assist any level of trader with his or her needs”.

FREE, real-time demo, with live prices of ALL MCIROS futures available at:

 

https://www.cannontrading.com/software/e-futures-international

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.

 

COVID and How it’s Affect the Futures Markets, Crude Oil Futures Chart & Support and Resistance Levels 1.06.2021

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Light at the End of the Tunnel?
by Mark O’Brien, Senior Broker:
As we transition into 2021, the overriding impact on the global economy and commodity prices remains the world-wide pandemic. Rising post-holiday infection figures in the U.S. from California to Rhode Island, in Europe, particularly the U.K., a return of the virus in China, and a newly discovered more contagious variant are all pointing to seeing January as the worst month in this now year-long scourge. Yet, a wide range of markets have been steadfast over the last 3-4 months in their ability to look past this crisis and price in demand improvement. Grains, metals, energies, gasoline, softs all have staged heady rallies. Soybeans are at 6-year highs. Crude oil traded through $50/barrel today, platinum trading above $1,100/ounce breached 4-year highs. Likely, as new and existing vaccines are made available and administered, as the holiday infection surge passes and hospital capacities come down, as we move toward the herd immunity that health officials have explained, the markets will take stock of the light at the end of the tunnel and assess these gains. Likely as well, overall price volatility across most if not all commodity asset classes will remain for the new year.
Crude Oil broke above $50 for the first time in almost a year on OPEC meeting. Daily chart below.
Crude Oil Futures Daily Chart

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 when it comes to Futures Trading.

 

Futures Trading Levels

1-06-2021

Futures Support and Resistance Levels 1.06.2021

Economic Reports, source: 

 www.BetterTrader.co

Better Trader Futures Reports 1.06.2021

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 here in 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 judgement in trading.

Cannon Trading Reviews


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