The Futures Trader's Destination for Over 25 Years

Open an Account
Call Us Free: 1-800-454-9572
Why Trade with Cannon?
  • USA
  • Canada
  • Mexico
  • United Kingdom
  • France
  • Italy
  • Spain
  • Germany
  • Australia
  • Netherlands
  • Romania
  • Belgium
  • Sweden
  • Czech Republic
  • Hungary
  • Switzerland
  • Austria
  • Portugal
  • Denmark
  • Greece
  • UAE
  • Israel
  • Jordan
  • Saudi Arabia
  • India
  • Argentina
  • Costa Rica
  • Peru
  • Chile
  • Brazil
  • China
  • Hong Kong
  • Japan
  • Russia
  • Thailand
  • South Korea
  • Taiwan
  • Philippines
  • Singapore
  • And Many More!
Countries We Accept Clients From | International Calls: 310-859-9572

Accept a losing day and you will increase your winning ratio…..11.16.2016

Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.

Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Wednesday November 16, 2016

Greetings!

So I was trying to think of a valuable advice I can provide you as volatility increased quite a bit the last few weeks and I think it will remain higher than average for a while as we are facing quite a bit of uncertainty. This is what I came up with:

So many times as a broker I see clients who know how to make money…I see it in the daily statements, good winning %, and consistent profits UNTIL….something happens.

Either the client who is normally a day-trader decides to carry his/hers losing position and make it into a swing trade…..OR the trader is down and refuses to accept the fact it may be a losing day and decides to double down and get more aggressive because if this trade is a winner he will have another winning day….the examples go on and no I am not referring to anyone specific although many of you probably think I am talking about them.

I have done it before as a trader. It is the inability to accept a loss that creates this snow ball.

I am not a psychologist nor a professional writer (English is my second language if you did not tell by now (-:

What I am hoping for is that by writing this I may help the “good voice” inside your head that tells you DONT double down OR just keep the stop, win over that bad voice that is whispering to you to go ahead and reverse the position and double it when it is clearly not in your game plan…Trading is tough mentally, financially and emotionally, help yourself be a better trader by being a more disciplined trader.

Last but not least, do NOT enter a trade with the thought of let me get in and see how it goes…Risk levels, potential targets, game plan…should all be there BEFORE you enter the trade!

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.

If you like Our Futures Trading Daily Support and Resistance Levels, Please share!

Futures Trading Levels

Levels for Trade Date of 11.16.2016

Contract Dec. 2016 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2203.50 4890.58 19028 1323.27 101.28
Resistance 2 2190.75 4834.92 18952 1313.83 100.78
Resistance 1 2184.00 4799.33 18909 1307.27 100.48
Pivot 2171.25 4743.67 18833 1297.83 99.98
Support 1 2164.50 4708.08 18790 1291.27 99.67
Support 2 2151.75 4652.42 18714 1281.83 99.17
Support 3 2145.00 4616.83 18671 1275.27 98.87
Contract Dec. Gold Dec. Silver Dec. Crude Oil Dec. Bonds Dec.   Euro
Resistance 3 1245.9 17.51 49.29 156 15/32 1.0907
Resistance 2 1238.6 17.32 47.68 155 31/32 1.0869
Resistance 1 1233.1 17.19 46.76 155 6/32 1.0805
Pivot 1225.8 17.01 45.15 154 22/32 1.0766
Support 1 1220.3 16.88 44.23 153 29/32 1.0702
Support 2 1213.0 16.69 42.62 153 13/32 1.0664
Support 3 1207.5 16.56 41.70 152 20/32 1.0600
Contract Dec. Corn Dec. Wheat Jan. Beans Dec. SoyMeal Dec. Nat Gas
Resistance 3 347.3 408.7 1002.33 316.17 2.92
Resistance 2 344.7 405.3 996.17 313.83 2.87
Resistance 1 343.1 402.2 992.83 311.97 2.79
Pivot 340.4 398.8 986.67 309.63 2.74
Support 1 338.8 395.7 983.3 307.8 2.7
Support 2 336.2 392.3 977.17 305.43 2.62
Support 3 334.6 389.2 973.83 303.57 2.54

source:http://www.forexfactory.com/calendar.php

All times are Eastern time Zone (EST)

Date 4:20pm Currency Impact Detail Actual Forecast Previous Graph
WedNov 16  4:00am USD
FOMC Member Bullard Speaks
4:30am GBP
Average Earnings Index 3m/y
2.3% 2.3%
GBP
Claimant Count Change
1.9K 0.7K
GBP
Unemployment Rate
4.9% 4.9%
8:30am USD
PPI m/m
0.3% 0.3%
USD
Core PPI m/m
0.2% 0.2%
9:00am GBP
MPC Member Cunliffe Speaks
9:15am USD
Capacity Utilization Rate
75.5% 75.4%
USD
Industrial Production m/m
0.2% 0.1%
9:30am GBP
CB Leading Index m/m
0.0%
10:00am USD
NAHB Housing Market Index
63 63
10:30am USD
Crude Oil Inventories
0.4M 2.4M
4:00pm USD
TIC Long-Term Purchases
48.3B

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.

Tags: > Posted in: Future Trading News   | Futures Trading  

Comments are closed.

Download Cannon’s new eBook, “Futures Forthright” instantly.


Quick Tip: After registering you will be emailed login information, so be sure to use an email address you have access to. If you need assistance please call us at 1-800-454-9572, a professional broker will help you through the registration process.
________
Doing Business With
See more...
Loading
Loading

Loading