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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!

Mini Nasdaq 100 | Support and Resistance Levels

Posted on by Ilan

Jump to a section in this post:
1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Support and Resistance Levels – March Corn, March Wheat, Jan Beans, March Silver
5.Economic Report for February 10, 2012

1. Market Commentary

Hello Traders,

Hope everyone had a good start for their week.

Below is a daily chart of the Mini Nasdaq 100.

Its been almost a straight line up BUT notice how the open interest is increasing and volume is actually declining….Sometimes that can be a sign that a strong correction may happen.

I would NOT try to fight the current uptrend but if I see this market breaking below 2530 over the next couple of days, I would feel stronger about the short side for a correction.

Market Commentary Continue reading “Mini Nasdaq 100 | Support and Resistance Levels”

Monday Morning Support and Resistance Numbers

Posted on by Ilan

Here’s a morning cup o’ joe for all you futures traders, our morning support and resistance levels. Good trading!

divider black 190

Support and Resistance Levels – S&P 500, Nasdaq 100, Dow Jones, Mini Russell 2000, 30-Year US Bond, 10-Year US Note

Contract (Mar. 2012) Mini S&P 500 Mini Nasdaq 100 Dow Jones Mini Russell 2000 30-Year US Bond 10-Year US Note
Resistance Level 3—————————————— Resistance Level 2——————————————

Resistance Level 1

——————————————

Support Level 1

——————————————

Support Level 2

——————————————

Support Level 3

 13641358.75

 

1353

 

1345.25

 

1340.75

 

1333.75

 26482583.50

 

2570

 

2556

 

2548

 

2535

 1300112931

 

12894

 

12825

 

12804

 

12765

 843.40832

 

823.7

 

818.2

 

815.2

 

810.3

 1432114303

 

14217

 

14203

 

14119

 

14023

 1311613108.5

 

13106.5

 

13101

 

13029.5

 

13015.5

Continue reading “Monday Morning Support and Resistance Numbers”

STOPS: Why Don’t We Keep Them | Support and Resistance Levels

Posted on by Ilan

Jump to a section in this post:
1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Support and Resistance Levels – March Corn, March Wheat, Jan Beans, March Silver
5.Economic Report for February 10, 2012

1. Market Commentary

Hello Traders,

Wishing everyone a great weekend and good trading week to come.

Another article we published before but the information is timeless, for your weekend reading pleasure:

STOPS: Why Don’t We Keep Them
by RealityTrader on Jan 19, 2011

With everything said and written on the subject of stops, it should be a given that everyone is conditioned to keep them religiously even before they start trading. No matter what source a newer trader turns to, utter importance of stops will be underlined and emphasized up to the degree that keeping them heralded as the ultimate key to success. We all heard adages like “Take care of your losses, profits will take care of themselves.”

Do all the stern warnings work? Not really.

Time and again traders blow their stops, widen them in the course of a trade, hold losing position in the false hope for recovery. If this destructive behavior continues despite all the warnings, there must be deeply rooted reasons for this. As with most trading flaws, failure to keep stops roots in fundamental misconceptions about the very nature of the market and trading. Such misconceptions result in incorrect psychological makeup which, in turn, creates behavioral patterns harmful for a trader’s performance. In order to re-condition oneself it is necessary to work out fundamental, even philosophical if you will, understanding of the market as an environment in which a trader operates.

Let us list and analyze the misconceptions that cause failure to keep stops. Continue reading “STOPS: Why Don’t We Keep Them | Support and Resistance Levels”

March Crude Oil Futures | Support and Resistance Levels

Posted on by Ilan

Jump to a section in this post:
1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Support and Resistance Levels – March Corn, March Wheat, Jan Beans, March Silver
5.Economic Report for February 10, 2012

1. Market Commentary

Hello Traders,

With stock index futures being relatively quiet, I am sharing a daily chart of March Crude Oil futures where volatility is still present.

My outlook on the daily chart is that a break above the trend line seen ( 100.34) can trigger more upside potential. On the other hand failure and a break of 98 going down can trigger new lows.

Market Commentary Continue reading “March Crude Oil Futures | Support and Resistance Levels”

Friday Morning Support and Resistance Numbers

Posted on by Ilan

Here’s a morning cup o’ joe for all you futures traders, our morning support and resistance levels. Good trading!

divider black 190

Support and Resistance Levels – S&P 500, Nasdaq 100, Dow Jones, Mini Russell 2000, 30-Year US Bond, 10-Year US Note

Contract (Mar. 2012) Mini S&P 500 Mini Nasdaq 100 Dow Jones Mini Russell 2000 30-Year US Bond 10-Year US Note
Resistance Level 3 —————————————— Resistance Level 2——————————————Resistance Level 1

——————————————

Support Level 1

——————————————

Support Level 2

——————————————

Support Level 3

 13531346

 

1341.75

 

1331

 

1329.5

 

1324.25

 2565.52555.5

 

2548

 

2531

 

2513

 

2497

 1289412835

 

12799

 

12734

 

12685

 

12635

 860.00843.4

 

832

 

820.2

 

814.9

 

802.70

 1432114303

 

14226

 

14200

 

14125

 

14117

 1312613121

 

13114.5

 

13025

 

13023

 

13015.5

Continue reading “Friday Morning Support and Resistance Numbers”

Monthly, Weekly and Daily mini SP 500 | Support and Resistance Levels

Posted on by Ilan

Jump to a section in this post:
1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Support and Resistance Levels – March Corn, March Wheat, Jan Beans, March Silver
5.Economic Report for February 1, 2012

1. Market Commentary

New month is starting and I would like to wish everyone great trading in February.

As the new month starting, I am sharing 3 different charts with you, Monthly, weekly and daily of the mini SP 500.

EP - E- mini S&P 500, Monthly Continuation
EP – E- mini S&P 500, Monthly Continuation

 

EP - E- mini S&P 500, Monthly Continuation
EP – E- mini S&P 500, Monthly Continuation

Regardless if you are day-trading or position trading, sometimes traders can get a better prospective by looking at larger time frames and going down.

EP - E- mini S&P 500, Equalized Active Daily Continuation
EP – E- mini S&P 500, Equalized Active Daily Continuation

Would you like to have access to my DIAMOND ALGO as shown above and be able to apply for any market and any time frame on your own PC ? You can now have a two weeks free trial where I enable the ALGO along with few studies for your own sierra/ ATcharts.

If so, please send me an email with the following information:

1. Are you currently trading futures?
2. Charting software you use?
3. If you use sierra or ATcharts, please let me know the user name so I can enable you
4. Markets you currently trading?

Continue reading “Monthly, Weekly and Daily mini SP 500 | Support and Resistance Levels”

60 Minutes mini SP Chart – Support and Resistance Levels

Posted on by Ilan

Jump to a section in this post:
1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Support and Resistance Levels – March Corn, March Wheat, Jan Beans, March Silver
5.Economic Report for January 25, 2012

1. Market Commentary

A day full of reports ahead of us tomorrow along with State of the Union tonight.

Be ready for the unexpected.

FOMC meeting tomorrow. Statement will be released around 2:15 PM EST

FOMC days have different characteristics than other trading days. If you have traded for a while, check your trading notes from past FOMC days that may help you prepare for tomorrow.

If you are a newcomer, take a more conservative approach and make sure you understand that the news can really move the market.

My observations suggest choppy, low volume up until announcement, followed by some some sharp volatile moves right during and after the announcement. However, with tomorrow early morning reports and recent volatility, we may see wild action through out.

One advice everyone can benefit from is, reduce your trading size in proportion to the increase in volatility. This should help your comfort level while in the day-trade.

Below is a another tip from using our ATcharts ( ATcharts comes free for our live TransactAt clients who trade 10 round turns and more per month and is
available for a free demo )

In today’s “tip” I want to share how I like to look at different type of charts sometimes when it comes to day trading, below you will see how I change my 60 minutes chart into 8 ticks range bar chart:

1. As you can see below I right click in the middle of the chart
which is a 60 minute chart of the mini SP
2. I than choose chart settings and select
range in ticks ( true ) under the bar period.
3. From the same menu one can also change the graph style from OHLC to candlesticks and much more under Graph Type on the bottom left corner.

Continue reading “60 Minutes mini SP Chart – Support and Resistance Levels”

15 Minutes mini SP Chart from Today’s Session

Posted on by Ilan

Jump to a section in this post:
1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Support and Resistance Levels – March Corn, March Wheat, Jan Beans, March Silver
5.Economic Report for January 19, 2012

1. Market Commentary

Volume is getting slightly better as the holiday season/ New year/ MLK is now behind us.

I wanted to touch base very briefly on a study many people know and use FIBONACCI levels and how the sierra charts ( ATcharts) has a study called Fibonacci Auto Retracement, which will draw the levels on your chart automatically as the market makes new highs/ lows etc.

I find this useful instead of having to go and manually draw levels.

I also find these levels useful for profit targets and stops since by formula, these FIB levels as I call them take into account the range of the trading day, hence on days when ranges are wide, it will provide you possible stops and/ or targets that are wider and vice versa, when the trading day is narrow, the targets will get tighter.

Here are two screen shots on how I select the study and how it looks like on a 15 minutes mini SP chart from today’s session.

Chat Studies for ESH2 15 min
Chat Studies for ESH2 15 min

 

ESH2 15 min Chart
ESH2 15 min Chart

Notice how the FIB lines ( support / resistance levels) adjusted as market made new highs.

Continue reading “15 Minutes mini SP Chart from Today’s Session”

Simple Yet Powerful Approach To Using Market Profile In Your Trading

Posted on by Ilan

Jump to a section in this post:
1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Support and Resistance Levels – March Corn, March Wheat, Jan Beans, March Silver
divider black 190

1. Market Commentary

Simple yet Powerful approach to using Market Profile in your trading
Join us for a Webinar on January 18th at 3:30 PM Central time
Space is limited.
Reserve your Webinar seat now at:
https://www2.gotomeeting.com/register/700006690  
Learn the incredible power of Market Profile in this simple and easy to implement approach.

Many have yet to discover  just how easy it can be. So please join us for ‘A Simplified Approach to using Market Profile’
Join Greg Weitzman for this live webinar as he discusses his unique and simplified way to incorporate Market Profile in your trading and leave with some tools you can use immediately in your own trading:
* Simplify and clean up your charts
* Clearly see support , resistance and market inflection points
* Locate key areas for trade entries
As a Bonus all attendees will also receive TheTradingZone basic Chart Templates, pre-configured for Sierra Charts ( ATcharts)
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.

 

Title: Simple yet Powerful approach to using Market Profile in your trading
Date: Wednesday, January 18, 2012
Time: 3:30 PM – 4:30 PM CST

 

After registering you will receive a confirmation email containing information about joining the Webinar.

 

System Requirements
PC-based attendees
Required: Windows® 7, Vista, XP or 2003 Server
Macintosh®-based attendees
Required: Mac OS® X 10.5 or newer

Continue reading “Simple Yet Powerful Approach To Using Market Profile In Your Trading”

Tuesday Morning Support and Resistance Levels

Posted on by Ilan

Here’s a morning cup o’ joe for all you futures traders, our morning support and resistance levels. Good trading!

divider black 190

Support and Resistance Levels – S&P 500, Nasdaq 100, Dow Jones, Mini Russell 2000, 30-Year US Bond, 10-Year US Note

Contract (Dec. 2011) Mini S&P 500 Mini Nasdaq 100 Dow Jones Mini Russell 2000 30-Year US Bond 10-Year US Note
Resistance Level 3——————————————

Resistance Level 2

——————————————

Resistance Level 1

——————————————

Support Level 1

——————————————

Support Level 2

——————————————

Support Level 3

 1328.5 

1309.75

 

1302.5

 

1291.75

 

1286.25

 

1276

 2436 

2409

 

2401

 

2376

 

2363

 

2340

 12749 

12600

 

12514

 

12440

 

12401

 

12331

 808.80 

781.6

 

775

 

764.2

 

758.4

 

748.2

 14611 

14603

 

14511

 

14411

 

14326

 

14227

 13203.5 

13130 (all time high)

13123.5

 

13108

 

13031.5

 

13024.5

Continue reading “Tuesday Morning Support and Resistance Levels”

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.