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Category: Commodity Trading

Investment is a game of money of securing future money by taking a risk today. Trading therefore comes with a list of rules to play by. Commodity trading in particular offers tremendous potential for becoming a completely different asset class.

However, before investing in any kind of commodity, you must do an in depth research and also ask your broker as many questions as possible. Through this category archive we provide you as much information and valuable insights into the world of commodity trading.

We at Cannon Trading are here to help you with your commodity trading needs. You as a trader should select your commodity trading advisor only after performing a due diligence on him/her. We in fact do that for you. This way, you get only the best advice to help you with your commodity trading.

We’ve got the information that you might need at every step of commodity trading, and you’ll find it all right here in the commodity trading section of our blog. Read up, and read on to get equipped!

Cocoa all Time Highs! + Futures Trading Levels for 02.08.24

Posted on by Ilan
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C10

New Highs and New Lows…..

By Mark O’Brien, Senior Broker

Traders, keep an eye out for market movement across asset classes for trading opportunities – including beyond those markets you’re typically focused on.  With dozens of commodities available for trading on the major U.S. futures exchanges, there’s potential out there.

 

Softs: 

 

Among the market sectors most traders follow closely, “Softs” is not high up the list.  Yet similarly to other well-known futures contracts such as stock indexes, interest rate futures, energies, metals and grains, the softs category includes some of the world benchmarks for their underlying commodity, such as cocoa, coffee, orange juice and sugar.

 

As well, we’re seeing recent price movement in some of these commodities that can be described as exceptional.  For example, it’s not hyperbole to say that the price of March cocoa has skyrocketed over the last month – from both sides of ±$4,200/ton coming into the new year to today’s $5,410/ton close.  That’s a ±$12,000 per contract move (contract size: 10 metric tons).  This is an all-time high for the contract.

Monthly Cocoa Chart for your review below!

 

After trading up to its own all-time highs above $4.00/lb. around mid-Nov., March orange juice sliced (pun intended) ±25% of its contract value, down below $3.00/lb. by mid-Jan with a $2.9065 close on Jan. 16.  This is a ±$15,000 move.  Yet this sell-off was brief as the contract then surged ±$1.00 back to today’s 10-cent up limit close of $3.9095, another ±$15,000 per contract move – in 16 trading days.

 

Indexes: 

 

Telling of all-time-highs would be lacking today without mentioning the E-mini S&P 500 and E-mini Nasdaq.  As of this typing the March E-mini S&P 500 futures contract is trading up ±40 points, nearly 10 points above Monday’s intraday high and ±15 points above the 5000 threshold.  As well, the March E-mini NASDAQ has made a ±200-point move up to its own all-time highs at ±17,850.  For the E-mini S&P 500, this marks a ±$40,000 per contract move since its last recent low back on Oct. 27.

 

Energy: 

 

In a comparison of contrasts, March natural gas settled below $2.00 today to set a new life-of-contract low and furthering a ±$4,000 per contract move in less than a month – with scarcely a retort by bulls.

 

March Cocoa Futures Chart

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Daily Levels for February 8th, 2024

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

d536c132 d3ce 47ff 8099 79b752e3652b

Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)
956ce77f 3c0f 47f1 895e bf11034c1ab4

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

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* 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.

Understanding Psychological Biases that can affect your trading plan + Levels for February 7th 2024

Posted on by Ilan
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C9

 

Understanding psychological biases at work that can affect your trading plan

List generated by  By John Thorpe, Senior Broker

Technical analysis is not a flawless science, and it is susceptible to various biases that can impact trading decisions and performance. Recognizing and addressing these biases is essential for becoming a more disciplined and successful trader.

Here are some common technical analysis biases and strategies to avoid or overcome them:

  • Confirmation Bias:
    • Bias: This occurs when traders only seek or give importance to information that confirms their existing beliefs or positions.
    • Avoidance Strategy: Actively seek out information and technical signals that might contradict your initial analysis. Be open to changing your view based on objective data rather than personal bias.
  • Overfitting Bias:
    • Bias: Overfitting happens when traders use too many technical indicators, parameters, or complex strategies to fit historical data perfectly, but these strategies may not perform well in future markets.
    • Avoidance Strategy: Keep your technical analysis simple and use a limited number of well-established indicators and patterns. Focus on robust strategies that have demonstrated reliability over time.
  • Recency Bias:
    • Bias: Traders tend to give more importance to recent price movements and patterns, assuming they will continue, while ignoring longer-term trends or historical context.
    • Avoidance Strategy: Consider a longer time horizon and look at historical price data to gain perspective. Avoid making impulsive decisions based solely on recent price action.
  • Anchoring Bias:
    • Bias: This bias occurs when traders fixate on a specific price level or a reference point, often the entry price, and refuse to adjust their positions or exit strategies accordingly.
    • Avoidance Strategy: Regularly reassess your positions and set stop-loss and take-profit levels based on current market conditions rather than anchoring to an arbitrary point.
  • Availability Bias:
    • Bias: Traders might rely too heavily on readily available information or recent news, leading to biased analysis and decision-making.
    • Avoidance Strategy: Seek a variety of information sources and avoid making hasty decisions based solely on the latest news. Maintain a broader perspective on market fundamentals.
  • Gambler’s Fallacy:
    • Bias: Traders may believe that past events, like a series of losses, increase the likelihood of future events, such as a win, even though markets are not governed by probability in the same way as games of chance.
    • Avoidance Strategy: Trade based on sound technical and fundamental analysis rather than expecting a change in luck. Each trade should be evaluated independently.
  • Emotional Bias:
    • Bias: Emotional responses, such as fear and greed, can cloud judgment and lead to impulsive decisions.
    • Avoidance Strategy: Develop a trading plan with predefined entry and exit points, risk tolerance, and position sizing. Stick to your plan and avoid letting emotions drive your actions.
  • Hindsight Bias:
    • Bias: After a trade has concluded, traders may believe they knew the outcome all along, leading to overconfidence in their abilities.
    • Avoidance Strategy: Keep a trading journal to record your analysis, decisions, and outcomes. This will help you learn from your experiences and avoid hindsight bias.
  • Self-Attribution Bias:
    • Bias: Traders may attribute successful trades to their skill and unsuccessful trades to external factors or bad luck.
    • Avoidance Strategy: Be honest with yourself about your strengths and weaknesses as a trader. Analyze both winning and losing trades to identify areas for improvement.
  • Anxiety Bias:
    • Bias: Anxiety can lead to hesitation or overtrading, causing traders to miss opportunities or make impulsive decisions.
    • Avoidance Strategy: Implement stress-reduction techniques, maintain discipline, and stick to a well-defined trading plan to mitigate anxiety-related biases.

Being aware of these biases is the first step toward becoming a more rational and disciplined trader. It’s also beneficial to continuously educate yourself, practice risk management, and seek feedback from mentors or peers to improve your trading skills and reduce the impact of these biases on your performance.

 

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Daily Levels for February 7th, 2024

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

d536c132 d3ce 47ff 8099 79b752e3652b

Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)
fafa7f3d 4960 4958 b338 eb738f998313

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

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* 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, Heavy Fed speaker week, light data week, Thursday WASDE for the Ag traders among us.

Posted on by Ilan
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C8

 

The Week Ahead: Earnings, Heavy Fed speaker week, light data week, Thursday WASDE for the Ag traders among us.

By John Thorpe, Senior Broker

 

McDonalds is a featured Dow stock on the earnings front this week, after todays close,

Other stocks of note this week. Eli Lilly before the open Tuesday, expectations are for a boost of 2.36 EPS per analysts on rev of 9 Billion. After Wednesday’s close Walt Disney will report , with expectations of 1.04 EPS on revenue of 23.8 billion.

 

In case you missed the 60 Minutes interview with Fed Chair Powell Sunday night. Here is a brief synopsis:

Noting that US growth is “solid” and the labor market “strong”, Jerome Powell said in a 60 Minutes TV interview on Sunday that the Federal Reserve “can approach the question of when to begin to reduce interest rates carefully.” Powell repeated comments from last week’s FOMC press conference that the Fed wants to see more progress on inflation before cutting rates. Powell downplayed chances that the Fed would begin cutting rates at its next meeting in March, saying policymakers want to be as confident as they can that inflation is on the path to the Fed’s two percent target. Yet he said “almost every single person” on the FOMC believes it would be appropriate to begin cutting rates sometime this year.

Tuesday we have 4 Fed Speakers , Mester, Kashkari, Collins, and Harker, Wednesday we have 4 again,

Kugler, Collins for a second time in the week, Barkin and Brown. On Thursday two speeches by the same governor Barkin, 3 hours apart and a lone speaker rounds out the week on Friday, Logan.

 

And on Thursday the USDA Supply and Demand numbers will be released for the country and the world.

 

Make it a solid week and always, “plan the trade and trade the plan”

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e35cb555 9ff3 4f00 9fe8 0655b28fbd90

Daily Levels for February 5th, 2024

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

d536c132 d3ce 47ff 8099 79b752e3652b

Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)
267c1ab8 c4e7 4601 8f67 85708d553ee3

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

3b644da2 2bee 4d39 8d98 5208a20bec39

* 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: Hedging Guide, Copper Outlook, CME Fees, 1099s and more….

Posted on by Ilan
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C7

Cannon Futures Weekly Letter Issue # 1180

In this issue:
  • Important Notices – 1099 Forms, CME Fees, FN & LT Days
  • Trading Resource of the Week – Futures Hedging Self Study Guide
  • Hot Market of the Week – March Copper
  • Broker’s Trading System of the Week – ES Day Trading System
  • Trading Levels for Next Week
  • Trading Reports for Next Week

 

Important Notices –

    • 1099 forms will be generated for all futures trading accounts held by US clients that placed any trades during the 2023 calendar year. Traders should expect to receive their 1099 forms via mail, email or through their portal in early February.
    1099 forms will be provided directly from the FCM to the client.
    • CME Fees Increase Update:
    In a Special Executive Report released by the CME Group, it was announced that effective February 1, 2024, a number of transaction fees will see amended (increased) exchange / transaction fees.
    Effective February 1, the CME Group is raising the exchange fees for a number of futures contracts.
    For the CME E-mini equity products: E-mini S&P 500 (ES), E-mini Nasdaq (NQ), E-mini Dow Jones (YM) and E-mini Russelll 2000 (RTY), fees are going up by 5 cents, from $1.33 to $1.38
    For the NYMEX energy products: Crude oil (CL), Heating oil (HO), RBOB Unleaded gas (RBOB) and Natural gas (NG) fees are going up by 10 cents, from $1.50 to $1.60
    For the COMEX metals products: Gold (GC), Silver (SI), Copper (HG) and Platinum (PL) fees are going up by 5 cents, from $1.55 to $1.60
    For the COMEX E-mini metals products: miNY gold (QO), miNY silver (QI), miNY copper (QC) fees are going up by 25 cents, from $0.75 to $1.00
    • 566 earnings reports next week
    • WASDE Report
    • Below are the contracts which are entering First Notice or Last Trading Day for the upcoming month. Be advised, for contracts that are deliverable, it is requested that all LONG positions be exited two days prior to First Notice and ALL positions be exited the day prior to Last Trading Day.

 

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Trading Resource of the Week : Futures Hedging Self Study Guide!

Self-Study Guide to Hedging with Grain and Oilseed Futures and Options. Regardless if you are a farmer, rancher or simply looking to trade grains and livestock futures, this guide will help you understand the ins and outs of trading and hedging using futures and options.

 

 

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  • Hot Market of the Week – March Copper
Hot market of the week is provided by QT Market Center, A Swiss army knife charting package that’s not just for Hedgers, Cooperatives and Farmers alike but also for Spread traders, Swing traders and shorter time frame application for intraday traders with a unique proprietary indicator that can be applied to your specific trading needs.
March Copper
March copper completed its first upside PriceCount objective and has settled into a range bound trade. IF the chart can resume its rally with new sustained highs, it would project a possible run to the second count in the 4.03 area, consistent with a challenge of the August high.
PriceCounts – Not about where we’ve been , but where we might be going next!
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The PriceCount study is a tool that can help to project the distance of a move in price. The counts are not intended to be an ‘exact’ science but rather offer a target area for the four objectives which are based off the first leg of a move with each subsequent count having a smaller percentage of being achieved. It is normal for the chart to react by correcting or consolidating at an objective and then either resuming its move or reversing trend. Best utilized in conjunction with other technical tools, PriceCounts offer one more way to analyze charts and help to manage your positions and risk. Learn more at www.qtchartoftheday.com
Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors. Past performance of actual trades or strategies is not necessarily indicative of future results.

  • Broker’s Trading System of the Week

With algorithmic trading systems becoming more prevalent in portfolio diversification, the following system has been selected as the broker’s choice for this month.
PRODUCT
SYSTEM TYPE
Intraday
COST
USD 85 / monthly
Recommended Cannon Trading Starting Capital
$15,000
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The performance shown above is hypothetical in that the chart represents returns in a model account. The model account rises or falls by the average single contract profit and loss achieved by clients trading actual money pursuant to the listed system’s trading signals on the appropriate dates (client fills), or if no actual client profit or loss available – by the hypothetical single contract profit and loss of trades generated by the system’s trading signals on that day in real time (real‐time) less slippage, or if no real time profit or loss available – by the hypothetical single contract profit and loss of trades generated by running the system logic backwards on back adjusted data. Please read full disclaimer HERE.
Would you like to receive daily support & resistance levels?
Yes
S
No
S

 

Daily Levels for February 5th 2024

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

Trading Reports for Next Week

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Trading Reports for Next Week

First Notice (FN), Last trading (LT) Days for the Week:
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Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

* 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.

NFP Report, Event Contracts + Futures Trading Levels for 02.02.24

Posted on by Ilan
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C6

 

Big NFP / unemployment report tomorrow an hour before the stock market opens.

This is a market moving report and indices, bonds, currencies, metals and other markets will see some large swings.

I personally like to be out before the report, wait a few minutes for the zig zag to relax and then look to re-enter.

On different note:

Upgrades to the event contract suite offer more opportunities for you to trade your market views.

 

The size of an event contract is increasing to $100

Updated sizes align more closely to the probability of a trade’s success. For example, if the price of a position is $65 there’s approximately 65% probability that this event will occur.

 

Introducing longer-dated expiries

Add quarter- and year-end event contracts on E-mini S&P 500 and Nasdaq-100 futures to your portfolio. With the addition of more expiries, place your long-term prediction on the Equity Index futures markets.

 

 

What are event contracts?

 

With event contracts, you can express your views on whether the markets will close above a certain price by choosing a “yes” or a “no” prediction. These contracts offer an intuitive, limited-risk way to trade 11 of the world’s most important futures markets.

 

➜ Access helpful resources

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Daily Levels for February 2nd, 2024

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

d536c132 d3ce 47ff 8099 79b752e3652b

Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)
efec3877 133c 4673 a797 e731a8cb87fc

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

3b644da2 2bee 4d39 8d98 5208a20bec39

* 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 Fees Increase Update + Levels for 02.1.24

Posted on by Jenny Collins
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COMMODITIES 240131

 

CME Fees Increase Update:

Effective tomorrow, February 1, the CME Group is raising the exchange fees for a number of futures contracts.

For the CME E-mini equity products: E-mini S&P 500 (ES), E-mini Nasdaq (NQ), E-mini Dow Jones (YM) and E-mini Russelll 2000 (RTY), fees are going up by 5 cents, from $1.33 to $1.38

For the NYMEX energy products: Crude oil (CL), Heating oil (HO), RBOB Unleaded gas (RBOB) and Natural gas (NG) fees are going up by 10 cents, from $1.50 to $1.60

For the COMEX metals products: Gold (GC), Silver (SI), Copper (HG) and Platinum (PL) fees are going up by 5 cents, from $1.55 to $1.60

For the COMEX E-mini metals products: miNY gold (QO), miNY silver (QI), miNY copper (QC) fees are going up by 25 cents, from $0.75 to $1.00

All other products / symbols will remain the same.

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Daily Levels for February 1st, 2024

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d536c132 d3ce 47ff 8099 79b752e3652b

Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)
5b8167cc 4f32 49f3 bab7 fa36aabeec47

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

3b644da2 2bee 4d39 8d98 5208a20bec39

* 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 Tomorrow + Levels for 01.31.24

Posted on by Ilan
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C5

 

 

March is front month for stock indices.

Symbol for March is H, so example ESH24

FOMC Rate decision tomorrow.

The last few FOMC meetings I looked for trades until around 930 AM Central time and then somewhat “took a step back”.

I would then follow closely around 1 PM Central when the announcement comes out but try to not pull the trigger until 1:15/ 1:30 when the smoke clears.

This is of course just my personal preferences and every trader is different.

Take notes after the trading session so you can look back and refer the next FOMC meeting….

Below are some additional tips/observations I have taken notes of for myself:

·    ·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 4425.00 with a stop at 4419.00, instead “stretch the price bands” due to volatility and place an entry order to buy at 4419.75 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.

·    Know what the market was expecting, learn what came out and observe market reaction for clues

·    The rate announcement comes out exactly at 1 PM central. As of this morning there is a 98% chance of no change in rates.

·    Traders will pay EXTRA attention to the language and the Q&A which starts at 1:30 PM Central

·    Be patient and be disciplined

·    If in doubt, stay out!!

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Daily Levels for January 31st 2024

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)
cfecb39d d206 4700 b630 72b5b035537a

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

3b644da2 2bee 4d39 8d98 5208a20bec39

* 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 Data Week Ahead! + Levels for 01.30.2024

Posted on by Ilan
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C4

 

The Week Ahead: A Big Data Rich Week! For the markets.

By John Thorpe, Senior Broker

 

The Super Bowl Teams are set for two weeks from now- Congrats to the NFL Conference Champions! Kansas City and San Francisco!

Quite a bit of excitement surrounds the markets this week as the following will grace our calendars.

Earnings, Jay Powell, Data.

You will have a hard time ignoring many of these direction moving events.

First, on Tuesday , Consumer Confidence and Jolts and both will be released @9:00am CST.

Second, A one-two punch, GOOGL announces earnings after the close. Average analysts guess is $1.59 EPS on Revenue of 85.3 Bil. We aren’t done, MSFT also announces after the close. $2.78 EPS and 61.1 bil revenue are the estimates here. (day one of the Fed meeting also occurs today) Other important earnings , UPS, SBUX, PFE, GM, AMD .

Then on Wednesday, FOMC Rate decision @ 1:00 pm CST , expectations are to remain. No change,

Jay Powell presser 30 minutes later.

We kick off Thursday @ 7:30 am CST with Jobless claims, the 4 week MA is 202k

And hour and a half later , ISM Manufacturing index is released, this has been in contraction the past 14 weeks. Expectations are for much the same.

The Biggest news of the day will likely be earnings from AMZN (exp .80 EPS, rev +11.4% and AAPL (exp 2.10 eps, rev 117.9 bil) after the close.

 

Fireworks Friday begins at 7:30 am CST with the nonfarm payrolls, here are the expectations from Econoday.

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Make it a solid week and always, “plan the trade and trade the plan”

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Daily Levels for January 30th 2024

 

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)
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Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

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* 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: Free Trading Consultation + Futures Trading Levels for Jan. 29th

Posted on by Ilan
Get Real Time updates and more by joining our Private Facebook Group!
Subscribe to our YouTube Channel

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Cannon Futures Weekly Letter Issue # 1179

In this issue:
  •  Important Notices – 2024 World Cup Trading Championship
  • Trading Resource of the Week – FREE Trader’s Consultation
  • Hot Market of the Week – April Hogs
  • Broker’s Trading System of the Week – NQ Swing Trading System
  • Trading Levels for Next Week
  • Trading Reports for Next Week

 

Important Notices –

The 2024 World Cup Trading Championships® are just around the corner.

You are invited to enter the ultimate trading challenge, where some of the world’s best Futures and Forex traders compete.

The World Cup Trading Championships have been held since 1983 and are the most prestigious trading competitions in the industry. The winners of each division will prove that they are the best of the best.

The top profitable Entrants will be eligible to receive a magnificent pewter Bull and Bear trophy or a beautiful crystal Bull and Bear Trophy.

Real-money competitions based on net returns – no entry fee required.

Take on traders from across the globe to compete for coveted Bull & Bear trophies, glory, and new career opportunities.

Do you have what it takes?

ENTER NOW!

Contact us at 1-310-859-9572 or Visit Us on the Web

 

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Trading Resource of the Week : Book a Trading Consultation ( FREE, no obligation!)with a Cannon Trading Series 3 Broker

Available to both Clients and prospects!

  • Immediately increase your software and computer competence
  • Valuable order entry tips
  • Help create a personalized workspace
  • Compare multiple trading software
  • Get to know your Broker
  • Learning Options strategies

In this complimentary call or screen share session, which can last up to 30 minutes, you will have the opportunity to seek guidance and pose questions to our expert on a wide range of topics. These topics include, but are not limited to:

  • – Gaining insight into day trading margins.
  • – Assessing and reviewing various trading platforms and technologies.
  • – A comprehensive breakdown of fees.
  • – Exploring different trading methods.
  • – Understanding options on futures.
  • – Delving into Order Flow.
  • – Learning about Proprietary Trading.
  • – Insights into CME membership.
  • – Exploring Trading Psychology.
  • – The impact of economic reports on trading.
  • – AND MUCH MORE… We will tailor the session to your specific needs and inquiries.

BOOK NOW – Limited Availability

 

 

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  • Hot Market of the Week – April Hogs
Hot market of the week is provided by QT Market Center, A Swiss army knife charting package that’s not just for Hedgers, Cooperatives and Farmers alike but also for Spread traders, Swing traders and shorter time frame application for intraday traders with a unique proprietary indicator that can be applied to your specific trading needs.
April hogs stabilized their slide after completing the first downside PriceCount objective. Now, on the correction higher, the chart has activated upside counts and is taking aim at the first target in the 84.98 area.
PriceCounts – Not about where we’ve been , but where we might be going next!
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The PriceCount study is a tool that can help to project the distance of a move in price. The counts are not intended to be an ‘exact’ science but rather offer a target area for the four objectives which are based off the first leg of a move with each subsequent count having a smaller percentage of being achieved. It is normal for the chart to react by correcting or consolidating at an objective and then either resuming its move or reversing trend. Best utilized in conjunction with other technical tools, PriceCounts offer one more way to analyze charts and help to manage your positions and risk. Learn more at www.qtchartoftheday.com
Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors. Past performance of actual trades or strategies is not necessarily indicative of future results.

  • Broker’s Trading System of the Week

With algorithmic trading systems becoming more prevalent in portfolio diversification, the following system has been selected as the broker’s choice for this month.
NEO SPECTRUM NQ E-mini Nasdaq
PRODUCT
SYSTEM TYPE
Swing
COST
USD 395 / monthly
Recommended Cannon Trading Starting Capital
$100,000
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The performance shown above is hypothetical in that the chart represents returns in a model account. The model account rises or falls by the average single contract profit and loss achieved by clients trading actual money pursuant to the listed system’s trading signals on the appropriate dates (client fills), or if no actual client profit or loss available – by the hypothetical single contract profit and loss of trades generated by the system’s trading signals on that day in real time (real‐time) less slippage, or if no real time profit or loss available – by the hypothetical single contract profit and loss of trades generated by running the system logic backwards on back adjusted data. Please read full disclaimer HERE.
Would you like to receive daily support & resistance levels?
Yes
S
No
S

 

Daily Levels for January 29th 2024

 

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

 

Trading Reports for Next Week

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Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)
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Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

* 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 Consultation + Levels for 01.26.24

Posted on by Ilan
Get Real Time updates and more by joining our Private Facebook Group!
Subscribe to our YouTube Channel

C2

Why book a screen share ( FREE, no obligation!)with a Cannon Trading Series 3 Broker?

Available to both Clients and prospects!

  • Immediately increase your software and computer competence
  • Valuable order entry tips
  • Help create a personalized workspace
  • Compare multiple trading software
  • Get to know your Broker
  • Learning Options strategies

In this complimentary call or screen share session, which can last up to 30 minutes, you will have the opportunity to seek guidance and pose questions to our expert on a wide range of topics. These topics include, but are not limited to:

  • – Gaining insight into day trading margins.
  • – Assessing and reviewing various trading platforms and technologies.
  • – A comprehensive breakdown of fees.
  • – Exploring different trading methods.
  • – Understanding options on futures.
  • – Delving into Order Flow.
  • – Learning about Proprietary Trading.
  • – Insights into CME membership.
  • – Exploring Trading Psychology.
  • – The impact of economic reports on trading.
  • – AND MUCH MORE… We will tailor the session to your specific needs and inquiries.

BOOK NOW – Limited Availability

stars

Daily Levels for January 26th 2024

 

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Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)
8b79f0d8 ac70 4f41 9948 7a90ff1879cc

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

3b644da2 2bee 4d39 8d98 5208a20bec39

* 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.

RISK DISCLOSURE: Past results are not necessarily indicative of future results. The risk of loss in futures trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.