Support & Resistance Levels Daily 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.


Technical Analysis Videos & Support & Resistance Levels 7.20.2018

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Trading 102: Educational Trading Videos

by: Cannon Trading Brokers
Cannon Trading is happy to share with you a few videos focusing on trading techniques, ideas and tools you can add to your trading arsenal. In this week’s newsletter we are sharing the following 3 videos, about 5 minutes each, ready for immediate viewing on the following topics:
1. Identifying Support And Resistance Using A Line Chart.
2. Finding Levels of Support Resistance
3. Day Trading crude oil futures using fear and greed….

 

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.

Futures Trading Levels

07-20-2018

 

Contract September 2018  SP500 #ES_F Nasdaq100  #NQ_F Dow Jones  #YM_F Mini Russell #RTY_F BitCoin Index #XBT_F
Resistance 3 2833.00 7459.17 25342 1733.20 7776.97
Resistance 2 2825.50 7437.58 25276 1720.20 7643.94
Resistance 1 2815.25 7397.92 25167 1713.00 7549.82
Pivot 2807.75 7376.33 25101 1700.00 7416.79
Support 1 2797.50 7336.67 24992 1692.80 7322.67
Support 2 2790.00 7315.08 24926 1679.80 7189.64
Support 3 2779.75 7275.42 24817 1672.60 7095.52
Contract August Gold #GC_F Sept. Silver #SI-F Sept. Crude Oil #CL-F Sept.  Bonds  #ZB_F Sept.  Euro #6E_F
Resistance 3 1249.9 15.95 71.14 146 29/32 1.1839
Resistance 2 1239.7 15.77 69.96 146  8/32 1.1784
Resistance 1 1231.0 15.55 68.97 145 25/32 1.1734
Pivot 1220.8 15.37 67.79 145  4/32 1.1678
Support 1 1212.1 15.14 66.80 144 21/32 1.1628
Support 2 1201.9 14.96 65.62 144 1.1573
Support 3 1193.2 14.74 64.63 143 17/32 1.1523
Contract Dec.  Corn #ZC_F Sept. Wheat #ZW_F Nov. Beans #ZS_F Dec. SoyMeal #ZM_F Aug. Nat Gas #NG_F
Resistance 3 373.3 519.1 875.50 332.20 2.87
Resistance 2 369.7 512.4 869.00 329.90 2.82
Resistance 1 367.3 508.3 865.25 328.00 2.80
Pivot 363.7 501.7 858.75 325.70 2.75
Support 1 361.3 497.6 855.0 323.8 2.7
Support 2 357.7 490.9 848.50 321.50 2.68
Support 3 355.3 486.8 844.75 319.60 2.65

Economic Reports, source: 

http://app.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.

Posted in: Future Trading News  

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Short insight to trading psychology & Support & Resistance Levels 7.18.2018

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

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How I like to day-(trade) by Ilan Levy-Mayer, VP
Often I get asked the question above: How do you trade (day trade)?
The answer includes a few different way as i either assist clients with their trading, trade on behalf of clients or design some automated trading systems to do the trading on my behalf.
First and most important to understand is that we are brokers first and traders second. Our job is to assist our clients, if it is a simple customer service topic with online traders or advice and execution to broker assisted and full service futures traders, we will stay focused on your needs.
I don’t have the desire to actively day-trade or be glued to the screen as I feel it will hinder my job as a broker.
With that in mind I personally use the following strategies/ methods in which I mostly assist clients with and for some execute trades on their behalf:
1. End of day swing trading
2. Weekly analysis for options trades
3. “Structured intraday set ups” that are easy to monitor and implement during the day
4. Automated trading.
1. End of day swing trading: This is done via analysis of the markets at the end of the day and using the daily chart as my main source of technical analysis. I use studies and indicators I have created over the years along with support and resistance levels. I scan a list of about 20 different futures markets and I look for certain conditions that are one of two, either a signal that market is extremely overbought/oversold with good potential to reverse OR conditions that try to predict a short to medium term trend is developing. I will then look for what I call “price confirmation” and will normally try to enter with a STOP order once a certain level is broken. Once in a trade I have initial stop and initial target that I place as GTC orders.
I will then do my best to ONLY update these orders on end of day basis.
2. Weekly options trades: I like to run a scan of 20 liquid markets and look for certain signals that suggest the market is in a trend based on the WEEKLY chart. Based on that I will recommend either options spreads to sell/ write and collect premium OR at certain times, I may recommend buying options or options spreads.
The thought behind SELLING option spreads/premium is that as long as the market does 3 of 4 scenarios, i should be able to collect and keep most of the premium. Example: If my ALGO says gold is in a downtrend on the weekly chart and I choose ( with client) to sell vertical call spread, the trade should succeed as long as gold did one of the following: confirmed signal and continued lower, traded range bound, went higher but not in a strong magnitude. As long as gold in this hypothetical example did NOT make a sharp violent move up, i would keep the premium collected as the options will expire worthless. Of course there is more to that and time value, specific strikes, values of the options GREEKS and more come into play but this is why you have access to a professional series 3 broker, so you can discuss and ask the right questions.
3. “Structured intraday set ups” For this I like to use the Edge Newsletter by ExitPoints.com. More on that as well as a free trial here.
 4. Automated trading: We have access to quite a few trading systems created by different professionals from around the world including a few I created myself. You as a client or potential client can browse quite a few of these systems and select your criteria: day trading versus swing trading, certain markets you prefer, required capital criteria and much more! you can then browse results and see which results are backtested, which are forward tested and which ones are LIVE trading results. You can start browsing right this second…..
The above is just a brief summary of some of the methods/concepts my colleagues and I like to use. Each broker has their own preferred methods. Some will lean towards seasonal spreads, other towards longer term trend following and more.
Feel free to reach out and fill out your trader’s profile at any time.

 

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.

Futures Trading Levels

07-18-2018

 

Contract September 2018  SP500 #ES_F Nasdaq100  #NQ_F Dow Jones  #YM_F Mini Russell #RTY_F BitCoin Index #XBT_F
Resistance 3 2832.42 7489.42 25341 1714.07 7843.89
Resistance 2 2825.33 7463.58 25269 1704.63 7713.03
Resistance 1 2820.92 7433.17 25225 1698.97 7539.68
Pivot 2813.83 7407.33 25153 1689.53 7408.82
Support 1 2809.42 7376.92 25109 1683.87 7235.47
Support 2 2802.33 7351.08 25037 1674.43 7104.61
Support 3 2797.92 7320.67 24993 1668.77 6931.26
Contract August Gold #GC_F Sept. Silver #SI-F Sept. Crude Oil #CL-F Sept.  Bonds  #ZB_F Sept.  Euro #6E_F
Resistance 3 1239.1 15.87 70.01 145 24/32 1.1786
Resistance 2 1234.1 15.75 68.95 145 17/32 1.1752
Resistance 1 1230.9 15.66 68.40 145  4/32 1.1722
Pivot 1225.9 15.53 67.34 144 29/32 1.1688
Support 1 1222.7 15.44 66.79 144 16/32 1.1658
Support 2 1217.7 15.32 65.73 144  9/32 1.1624
Support 3 1214.5 15.23 65.18 143 28/32 1.1594
Contract Dec.  Corn #ZC_F Sept. Wheat #ZW_F Nov. Beans #ZS_F Dec. SoyMeal #ZM_F Aug. Nat Gas #NG_F
Resistance 3 365.9 509.3 874.50 333.93 2.78
Resistance 2 364.3 506.2 868.25 331.87 2.77
Resistance 1 362.7 500.3 863.00 328.73 2.75
Pivot 361.1 497.2 856.75 326.67 2.74
Support 1 359.4 491.3 851.5 323.5 2.7
Support 2 357.8 488.2 845.25 321.47 2.70
Support 3 356.2 482.3 840.00 318.33 2.68

Economic Reports, source: 

http://app.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.

Posted in: Future Trading News  

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Selling Commodity Options & Support Resistance Levels 7.18.2018

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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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The following is an excellent short read from From our friend Don A. Singletary at  https://www.timefarming.com/

Selling Commodity Options: The Disposition Effect & Trading Psychology

In selling commodity options* or any other type of trading, the disposition effect is the tendency for an investor to take profits too quickly while holding on longer to losing trades.  And holding the losers too long is just another way of saying the trader reverts to hope as a strategy.  This disposition effect is like a trader volunteering for a slow and painful disappearance of funds.  Behavioral studies suggest that the two most influential factors in making trading decisions are genetics and experiences. Oddly, some of the things that are good in life can work against us when trading.
As children, most of us are taught and even encouraged to be hopeful, optimistic, and not to dwell too long on the negative.  Unfortunately, this training can be fatal if adapted into your investment strategy.  Persistence is not a binary trait for humans that we turn either “on” or “off.”  Almost every trader has had the experience of projecting their own hope and persistence on to a losing position.  Our persistence is one end of a sliding scale with something very similar to stupidity at the other end of the spectrum.  Furthermore – almost all of us are too quick to blame ourselves when a trade goes bad –  though most often the circumstances to blame are beyond our control.  To cut losses at a reasonable point often requires us to immediately suspend all hope and optimism, while at the same time having to admit our trade, in spite of our best efforts – just isn’t working. I must learn to fight only the battles I can easily win.  If you can’t learn to exit trades properly without taking it personally, you will get ping-ponged between fear and greed while you are losing your money.  This is both painful and very expensive.
Don A. Singletary is an author of financial articles and books and an educator, After a 25 years as a corporate commodity hedge consultant & corporate trainer specializing in commodity options in risk management plans, he now produces educational corporate and personal training material.
This former broadcaster, writer, and broker – now publishes a newsletter dedicated exclusively to selling commodity options.
* Selling “naked options” involves unlimited risk.
**Seasonal Disclaimer: There are usually underlying fundamental circumstances that occur annually that tend to cause the futures markets to react in a similar directional manner during a certain calendar period of the year. Even if a seasonal tendency occurs in the future, it may not result in a profitable transaction as fees and the timing of the entry and liquidation may impact on the results. No representation is being made that any account h as in the past or will in the future achieve profits utilizing these strategies. No representation is being made that that price patterns will recur in the future.

 

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.

Futures Trading Levels

07-18-2018

 

Contract September 2018  SP500 #ES_F Nasdaq100  #NQ_F Dow Jones  #YM_F Mini Russell #RTY_F BitCoin Index #XBT_F
Resistance 3 2847.42 7618.00 25340 1711.37 8443.69
Resistance 2 2831.58 7527.00 25241 1703.33 7955.12
Resistance 1 2821.42 7474.50 25170 1696.37 7634.31
Pivot 2805.58 7383.50 25071 1688.33 7145.74
Support 1 2795.42 7331.00 25000 1681.37 6824.93
Support 2 2779.58 7240.00 24901 1673.33 6336.36
Support 3 2769.42 7187.50 24830 1666.37 6015.55
Contract August Gold #GC_F Sept. Silver #SI-F Aug. Crude Oil #CL-F Sept.  Bonds  #ZB_F Sept.  Euro #6E_F
Resistance 3 1259.4 16.14 70.05 145 22/32 1.1872
Resistance 2 1252.2 16.01 69.25 145 17/32 1.1835
Resistance 1 1240.2 15.81 68.64 145  9/32 1.1776
Pivot 1233.0 15.69 67.84 145  4/32 1.1738
Support 1 1221.0 15.49 67.23 144 28/32 1.1679
Support 2 1213.8 15.36 66.43 144 23/32 1.1642
Support 3 1201.8 15.16 65.82 144 15/32 1.1583
Contract Dec.  Corn #ZC_F Sept. Wheat #ZW_F Nov. Beans #ZS_F Dec. SoyMeal #ZM_F Aug. Nat Gas #NG_F
Resistance 3 366.6 514.6 875.08 336.30 2.83
Resistance 2 364.4 509.4 867.42 334.00 2.81
Resistance 1 362.1 503.6 861.33 330.60 2.78
Pivot 359.9 498.4 853.67 328.30 2.75
Support 1 357.6 492.6 847.6 324.9 2.7
Support 2 355.4 487.4 839.92 322.60 2.70
Support 3 353.1 481.6 833.83 319.20 2.66

Economic Reports, source: 

http://app.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.

Posted in: Future Trading News  

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Trader’s Profile & Support & Resistance Levels 7.17.2018

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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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If you are reading this blog and currently NOT a client of Cannon, I encourage you to visit our Trader’s Profile page, fill out the short form and this way allow one of our series 3 professionals reach out you and share some resources we think may be of help in terms of Trading education, platforms to choose from, commissions and much more!
Why a “Trader’s Profile?”

Not all traders have the same needs. Not all platforms fit all traders. Some clients look to actively day-trade, others may need advanced spreading capabilities while others may need advanced charting or sophisticated order entry. Cannon Trading has one of the WIDEST selections of trading platforms available.
By filling out the trader profile or chatting with one of our experienced brokers we can suggest a trading engine to suit your needs.

 

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.

Futures Trading Levels

07-17-2018

 

Contract September 2018  SP500 #ES_F Nasdaq100  #NQ_F Dow Jones  #YM_F Mini Russell #RTY_F BitCoin Index #XBT_F
Resistance 3 2822.00 7455.08 25231 1715.17 7533.47
Resistance 2 2815.50 7434.42 25161 1705.33 7122.37
Resistance 1 2808.00 7404.33 25103 1694.07 6898.14
Pivot 2801.50 7383.67 25033 1684.23 6487.04
Support 1 2794.00 7353.58 24975 1672.97 6262.81
Support 2 2787.50 7332.92 24905 1663.13 5851.71
Support 3 2780.00 7302.83 24847 1651.87 5627.48
Contract August Gold #GC_F Sept. Silver #SI-F Aug. Crude Oil #CL-F Sept.  Bonds  #ZB_F Sept.  Euro #6E_F
Resistance 3 1252.7 16.02 73.40 146 25/32 1.1836
Resistance 2 1249.3 15.96 72.13 146  8/32 1.1808
Resistance 1 1245.2 15.89 70.11 145 24/32 1.1786
Pivot 1241.8 15.83 68.84 145  7/32 1.1758
Support 1 1237.7 15.75 66.82 144 23/32 1.1736
Support 2 1234.3 15.69 65.55 144  6/32 1.1708
Support 3 1230.2 15.62 63.53 143 22/32 1.1686
Contract Dec.  Corn #ZC_F Sept. Wheat #ZW_F Nov. Beans #ZS_F Dec. SoyMeal #ZM_F Aug. Nat Gas #NG_F
Resistance 3 363.6 507.5 876.00 341.67 2.83
Resistance 2 361.4 503.0 865.25 336.43 2.80
Resistance 1 358.3 495.8 855.50 331.97 2.78
Pivot 356.2 491.3 844.75 326.73 2.76
Support 1 353.1 484.0 835.0 322.3 2.7
Support 2 350.9 479.5 824.25 317.03 2.72
Support 3 347.8 472.3 814.50 312.57 2.70

Economic Reports, source: 

http://app.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.

Posted in: Future Trading News  

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Top Systems & Support & Resistance Levels 7.13.2018

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

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Dear Traders,

Like us on Facebook!
Check out top performing trading systems, actual results:
As always, we are here to assist and answer any questions via email, phone or chat!

 

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.

Futures Trading Levels

07-13-2018

 

Contract September 2018  SP500 #ES_F Nasdaq100  #NQ_F Dow Jones  #YM_F Mini Russell #RTY_F BitCoin Index #XBT_F
Resistance 3 2835.50 7567.50 25234 1715.97 6571.06
Resistance 2 2818.25 7477.25 25081 1706.93 6478.52
Resistance 1 2808.25 7430.00 24987 1699.67 6326.24
Pivot 2791.00 7339.75 24834 1690.63 6233.70
Support 1 2781.00 7292.50 24740 1683.37 6081.42
Support 2 2763.75 7202.25 24587 1674.33 5988.88
Support 3 2753.75 7155.00 24493 1667.07 5836.60
Contract August Gold #GC_F Sept. Silver #SI-F Aug. Crude Oil #CL-F Sept.  Bonds  #ZB_F Sept.  Euro #6E_F
Resistance 3 1257.5 16.32 73.31 145 31/32 1.1797
Resistance 2 1253.1 16.17 72.27 145 23/32 1.1774
Resistance 1 1250.1 16.07 71.30 145 17/32 1.1750
Pivot 1245.7 15.93 70.26 145  9/32 1.1727
Support 1 1242.7 15.83 69.29 145  3/32 1.1704
Support 2 1238.3 15.68 68.25 144 27/32 1.1681
Support 3 1235.3 15.58 67.28 144 21/32 1.1657
Contract Dec.  Corn #ZC_F Sept. Wheat #ZW_F Nov. Beans #ZS_F Dec. SoyMeal #ZM_F Aug. Nat Gas #NG_F
Resistance 3 377.9 506.5 875.08 339.27 2.86
Resistance 2 370.6 497.5 865.42 334.83 2.84
Resistance 1 364.9 491.0 857.33 331.27 2.82
Pivot 357.6 482.0 847.67 326.83 2.80
Support 1 351.9 475.5 839.6 323.3 2.8
Support 2 344.6 466.5 829.92 318.83 2.77
Support 3 338.9 460.0 821.83 315.27 2.74

Economic Reports, source: 

http://app.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.

Posted in: Future Trading News  

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