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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.


Day trading ALGO – FREE TRIAL 2.24.2017

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Heads up: Front month for energies is now April. Both crude oil and Natural gas numbers are out tomorrow. Check reports section below. 

Here is a screen shot from our trading platform, E-Futures Int’l along with enabled studies/ALGO I have created, which you can try on your own. it comes with a 15 minute remote session, 25 minute video and a 23 page PDF that explains the concept.

The screen shots are for Gold and Natural gas from yesterday’s session.

Red diamond = possible sell. Green diamond = possible buy.

Along with a few simple rules, one can use this another tool for day trading.

E-Futures Int’l Chart

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW.  NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.  IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.

ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT.  IN ADDITION, HYPOTHETICAL TRADING DOES NO INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING.  FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS.  THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS

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Tags: > Posted in: Future Trading News  

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Futures Day Trader’s Check list 2.23.2017

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Heads up: Front month for energies is now April. Both crude oil and Natural gas numbers are out tomorrow. Check reports section below.

Day Trader’s Checklist:

  1. Review your statement from the prior trading day.
  2. Know what reports due for release and at what time.
  3. Know previous day’s high/low/close. Mark them on chart.
  4. Mark your support and resistance levels.
  5. Take a look at longer-term time frames.  Is the market you’re trading in a strong bias/trend?
  6. Plan your trade’s parameters ahead of time.  Know your position size limits, your loss limits, your profit targets.
  7. Print/ save a record of your trades at the end of the day.  Check for any “left over” open orders.
  8. Write down what you need to in your trading journal.

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Tags: Posted in: Future Trading News  

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Different Type of Trading Days…..2.22.2017

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In the last few weeks we witnessed very low volatility with low volume which encouraged me to share the following with you on the different types of trading days ( PS: The other solution is to also look at other markets for day trading like gold , crude oil and natural gas ) :

  • In my opinion there are 3 main types of trading days.
  1. The most common day are two sided trading action with swings up and down – this type of trading day is most suitable for using support and resistance levels along with overbought/oversold indicators.
  2. Strong trending days, mostly one directional – this type of trading day is the least common, many times will happen on Mondays and maybe 3-5 times a month at most – this type of trading day is most suitable for using ADX, MACD crossovers and pretty much looking for pullbacks to jump on the trend.
  3. Slow and/or choppy trading days – this type of trading day is best suited for taking small profits from the market by looking at volume spikes, using stochastics as possible entry signals and usually wait for a pullback before jumping in.
  • A good question I’ve been asked is how can one asses what type of trading day we will have while the market is still trading….I have been doing some work in finding the answers and will be happy to hear feedback via email but here are some initial observations:
    1. Was the overnight session a wide, two sided trading range? If the answer is yes, good chances for similar trading day during the primary session (primary session is when the cash/stock market is open)
    2. Mondays have the highest chance for trending days
    3. The behavior of the first hour of trading can also suggests the type of action for the rest of the day.
    4. If the first 30 minutes of the trading day have good volume, better chances for type 1 or type 2 trading days.
    5. Low volume during the first 30 minutes can suggest a choppy (type 3 trading day)

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Tags: Posted in: Future Trading News  

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President’s Day Trading Hours 2-17-2017

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Dear Traders,
 

Monday is President’s Day here in the US and markets will have modified schedule.

President's Day Trading Hours

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Tags: Posted in: Future Trading News  

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Presidents Day 2017 Holiday Schedule for CME / Globex and ICE Exchanges

Presidents Day 2017 Holiday Schedule for CME / Globex and ICE Exchanges 

Presidents Day 2017 Holiday Schedule

Globex® Presidents King Day 2017 Holiday Schedule

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

 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

Ice Futures Presidents Day 2017 Holiday Trading Schedule

Detailed holiday hours: 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.

Tags: > > Posted in: Future Trading News  

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