Weekly Newsletter 1067: Intro to Crude Oil Futures and Financials & Bookmap Real-Time Order Flow Analysis Webinar & Trading Levels for Week Ahead 9.20.2021

Cannon Futures Weekly Letter Issue # 1067

Dear Traders,

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Trading 101: Free Course – An Introduction to Crude Oil

Today’s energy crude oil market is truly global. From West Texas Intermediate (WTI) to Brent and DME Oman, the crude oil market fuels many of the world’s leading economies and impact nearly every nation. Energy crude oil futures and options provide the tools the industry needs to manage risk. Explore the key concepts and structure of today’s energy markets, including the factors that affect supply and demand and move prices. Learn how to use these instruments to hedge exposure and unlock opportunities

Crude Oil Futures

ACCESS THE COURSE NOW By Clicking Here

 

Bookmap Real-time Order Flow Analysis

In this session, we’ll take a look at how to utilize Real-Time Order Flow Analysis while trading variety of futures with a focus on the liquid, smaller MICRO products.
Bruce Pringle, has been trading a variety of markets for over 10 years. He leads Bookmap’s trading education department and supports traders and professional educators.
Bruce has developed expertise in reading order flow and market microstructure.
In this webinar you will learn and see live examples:
• Learn how to read Order Flow
• See Stops and Iceberg transaction
  • How to Trade E-Micros from the E-Mini chart

Register Now as Seats are limited!

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 when it comes to Futures Trading.

 

Futures Trading Levels

09-20-2021

Futures Support and Resistance Levels 9.20.2021

 

Weekly Levels

Weekly Support and Resistance Levels

 

Trading Signals for commodities

Reports, First Notice (FN), Last trading (LT) Days for the Week:

https://mrci.com

Date Reports/Expiration Notice Dates

MRCI Reports

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

Find Flexibility and Volume w/ Micro Futures Contracts & Support and Resistance Levels 9.08.2021

Dear Traders,

Get Real Time updates and more on our private FB group!
Separator
MICROS are here to stay!
I was wrong….when the MICROS first came out I was saying to myself “that defeats the whole point of leverage” BUT I am a big fan now.
MICRO CL, MICRO ES, MICRO NQ are just some of the markets with very nice volume and they offer the flexibility of scaling in and out, smaller exposure.
The NQ for example is trading at such levels compare to 3 years ago that a “normal 0.5%” move is worth approx. $1000 against you or in your favor simply because we are trading at 15613….compare to 780 3 years ago!! That is more than double the value/ exposure etc.
The MICRO CL got great volume and at times when this market is very volatile or you want to take a swing trade but still sleep well at night…..
You get my point!
Start a real time demo and trade the MICROS and any other futures market in real time.
You can start MICRO account with as little as $1000 and still get access to the service and knowledge Cannon is well know for in the industry

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 when it comes to Futures Trading.

 

Futures Trading Levels

9-09-2021

Support and Resistance 9.09.2021

Economic Reports, source: 

 www.BetterTrader.co

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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 as well as options on futures.

Futures Fundamentals & Support and Resistance Levels 9.01.2021

Dear Traders,

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Separator
First trading day of the month tomorrow. Wishing all of us a successful trading month and a healthy, safe September.
Was hoping to share some valuable insight about trading or the markets today but honestly I think the markets are waiting for Labor Day weekend coming up and volatility is still relatively low in most markets.
One advice I have to share is, observe and trade more than one market. if you are only trading crude oil and your trading model/ style looks for volatility and crude goes into low volatility – now what? ( Talking about crude oil….don’t forget tomorrow we have inventories at 10:30 AM EST and dont forget we have MICRO crude oil with nice volume and 1/10th the size!)
But if you learn the fundamentals of few markets, lets say ES, Cl and ZB and you scan these markets for set ups you like – I personally feel that may be a better approach than just trading a single market.

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 when it comes to Futures Trading.

 

Futures Trading Levels

9-01-2021

Support & resistance levels for 09.01.2021

Economic Reports, source: 

 www.BetterTrader.co

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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 as well as options on futures.

Futures Trading Levels for July 20th, 2021

Dear Traders,

Volatility is back!
COVID Variants fears…..While past performance is not indicative of future results, it might be worthwhile to look at how markets behaved during Jan-May of 2020.
Intraday Volatility in stock index futures is extremely high. Actually across many markets Crude and NASDAQ futures leading the volatility but metals, energies and grains have seen higher volatility. I noticed the stock index futures today as I was actively monitoring and trading with some clients and saw the ES make 14 points moves and more, BOTH ways in the same 15 minutes….Intraday chart for illustration below.
1.  Learn to reduce trading size. Perhaps trade smaller contracts like the micros.
2. Adjust stops and entries based on volatility ( ATR/ Parabolics).
3. Be extra picky on entries without chasing trades.
4. Understand that loses are part of trading and this is definitely not a good time to “fight the markets”.
5. Focus more on risk management and ways to protect certain positions as needed. Survive to trade another day.
Markets are moving extremely fast and at times quoting systems, platforms can’t even keep up.
The risk is MUCH GREATER than I have seen, yet some traders look for it.
That is ok, as long as you :
Know the rules, understand current margins, know where the circuit breakers are/ limit moves.
Figure out your max risk.
After you do all that, feel free to trade but jumping in and trying to trade without the basic knowledge above is like jumping into a stormy ocean without a life vest…..
Get Real Time updates and more on our private FB group!

 

Futures Trading Levels

7-20-2021

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Economic Reports, source: 

 www.BetterTrader.co

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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 when it comes to Futures Trading.

 

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, Trading Resources, and More! 7/19/21

Dear Traders,

ALGO Trade Signals
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·    Packages are signals only (Basic, $99/month) or signals with execution suggestions by VAREA trading specialists (Premium, $199/month) and get a free month of the Premium product when you sign up. Contact your broker for implementation instructions to get you started.
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Webinar Recording: Cannon Trading & CME Group invites you to WATCH recorded webinar from Wednesday July 14, to learn more about Micro WTI Crude Oil futures, a new tool for managing crude oil price exposure.
FREE Futures Forthright Premium eBook
Cannon Trading Is Pleased To Present “Futures Forthright eBook“, Available For Instant Download Written By Cannon Trading Staff
Fresh off the press is Cannon Trading’s new eBook! Written by our very own staff of brokers, this eBook is designed as a guide to the commodities market for both beginners and veterans alike. Inside you can find:
• A plan with steps that may lead to success
• Steps Towards Mastering your Day Trading
• The top mistakes traders make daily
• How to handle the market noise
• and much more…..
The futures industry is complex and risky, which is why you need someone to be forthright with you…. Download eBook instantly.
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Futures Trading Levels

7-19-2021

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Weekly Levels

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Reports, First Notice (FN), Last trading (LT) Days for the Week:
Date Reports/Expiration Notice Dates
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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 when it comes to Futures Trading.

 

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.

Recorded MICRO Crude Webinar & Levels – July 16th, 2021

Dear Traders,

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Get Real Time updates and more on our private FB group!
If you missed our MICRO Crude Oil webinar yesterday, here is the link to the recording.

 

Futures Trading Levels

7-16-2021

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Economic Reports, source: 

 www.BetterTrader.co

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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 when it comes to Futures Trading.

 

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 #1044 Day Trading Commodities with Crude Oil Futures & Trading Levels for Week Ahead 3.22.2021

Cannon Futures Weekly Newsletter Issue # 1044

Dear Traders,

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Trading 102: Day Trading Commodities with Crude Oil Futures
Crude Oil Futures Volatility Offers A “Different Market Personality” Than Stock Index Futures. Here Is Some Of The Things You Need To Know About Day Trading Crude Oil Futures:
By: Ilan Levy-Mayer, Cannon Trading Commodities Broker & VP
Crude Oil is one of MY favorite futures market for day trading. Before I dive in and share with you how the volatility in crude oil fits my risk tolerance for day trading and provide a couple of chart examples, we should review some of the specifications of Crude Oil Futures.
Crude Oil Futures have monthly expiration. So each month we trade a different contract month, so one needs to know when is the first notice day and last trading day for crude oil futures in order to always make sure we are trading the proper month with the most liquidity and avoid any chance of getting into delivery situation.
Next is the contract size. Crude Oil futures are based on 1000 barrels. To be honest from a day trading perspective all I care is that each tick or 1 cent fluctuation is $10 against me or in my favor per contract. That means that a move from 92.94 to 92.74 = $200.
Another factor is trading hours. At the time I am sharing my thoughts with you, April 8th 2013, crude oil futures trade on the CME Globex platform and trade from 5 PM CDT until the next day at 4 PM CDT. That is 23 of straight trading hours. I definitely don’t recommend day trading this market 23 hours…but it is good to know the trading hours.
Volume in crude oil futures is pretty good to trade in my opinion. Averaging about 300,000 contracts per day.
One last pointer to touch on is the API (American Petroleum Institute) report that normally comes out Wednesday at 9:30 CDT (on short weeks, holidays etc. , this report will be pushed to Thursday at 10 AM CDT). I tell my clients that this report is way too volatile and I like to be out 5 minutes before and not resume trading 5 minutes until after the report comes out. This report by itself deserves a writing but on short, the report provides information on how our stock pile is doing ( = supply/demand) and the market will move based on the numbers versus what was expected. Again as a day trader, your main job is to know about this report, when it comes out and in my opinion stay out of the market during this time..Fill out the form below to read the full article.
Weekly chart of Crude Oil futures for your review below. Click here for Larger image.
Crude Oil Weekly Chart
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 when it comes to Futures Trading.

 

Futures Trading Levels

3-22-2021

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Weekly Levels

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Reports, First Notice (FN), Last trading (LT) Days for the Week:

https://mrci.com

Date Reports/Expiration Notice Dates

MRCI Reports

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 herein 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 judgment in trading

Weekly Newsletter #1037 Day Trading Mind Traps, Crude Oil Outlook/Chart and Resistance Levels for the Week Ahead 2.01.2021

Cannon Futures Weekly Newsletter Issue # 1037

Dear Traders,

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Trading 102: Day Trading Mind Traps 
“One way our brain helps keep us safe is to protect us from an awareness of our weaknesses. The brain believes that it is better to be falsely confident than recognize the real risks. This protective mechanism tends to work against us in trading.” Kenneth Reid, Ph.D
MINDING THE MIND
The mind can play tricks on us. Intuitive Trading is an attempt to mind read the market, which makes us susceptible to whipsaws. Hindsight Bias causes traders to underestimate the difficulty of trading, while Competency Bias causes us to over-estimate our abilities. These are mental banana peels that set us up for a fall.
INTUITIVE TRADING
Intuitive trading is a natural response to excessive randomness and non-linearity in the market. But making informed guesses is not the same as formulating a rule-based pattern-recognition system that gives a trader a true edge. Without a rule-based plan, intuitive traders expend a great deal of energy mindreading the market, which will not improve your odds of success. In fact, professional traders make a good living exploiting the emotionally-driven behavior of intuitive amateurs.
The Bull / Bear Camps for crude oil
by Mark O’Brien, Senior Broker
For the bulls, when you’re hanging on to news from China that they’ve seen meaningful declines in crude oil stockpiles at key ports and increased refinery run rates playing catch-up to demand, that’s not a strong hand.
The new Biden Administration’s move to cancel the Keystone XL pipeline will likely elicit a muted response as its demise had been generally expected. Covid-related news continues to influence market sentiment, so the new South African variant and its impact on the global health crisis is ammunition for the bear camp. As well, last week’s Baker Hughes US oil rig count rose from 236 up to 289 rigs, within striking distance of the highest U.S. count since early May. It’s rational to view any intra-day price spikes with skepticism. Still, the bulls are not without their own home-court ammunition. Since the Nov./Dec. holidays, U.S. demand has improved and supplies have tightened per this week’s EIA report of a 9.9 million barrel inventory decline.
Crude Oil Futures Daily Chart
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 when it comes to Futures Trading.

 

Futures Trading Levels

2-01-2021

Futures Support & Resistance Levels 2.01.2021

 

Weekly Levels

Weekly Futures Support & Resistance Levels 2.01.2021 - 2.05.2021

Reports, First Notice (FN), Last trading (LT) Days for the Week:

https://mrci.com

Date Reports/Expiration Notice Dates

MRCI Weekly Reports 1.29.2021 - 2.05.2021

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 herein 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 judgment in tradin

Weekly Newsletter #1036 Day Trading Commodities w/ Crude Oil Futures, Soybean Futures Chart and Resistance Levels 1.25.2021

Cannon Futures Weekly Newsletter Issue # 1036

Dear Traders,

Like us on FaceBook!
Get Real Time updates and market alerts on Twitter!
Trading 202: Day Trading Commodities with Crude Oil Futures
Crude Oil Futures Volatility Offers A “Different Market Personality” Than Stock Index Futures. Here Is Some Of The Things You Need To Know About Day Trading Crude Oil Futures:
By: Ilan Levy-Mayer, Cannon Trading Commodities Broker & VP
Crude Oil is one of MY favorite futures market for day trading. Before I dive in and share with you how the volatility in crude oil fits my risk tolerance for day trading and provide a couple of chart examples, we should review some of the specifications of Crude Oil Futures.
Crude Oil Futures have monthly expiration. So each month we trade a different contract month, so one needs to know when is the first notice day and last trading day for crude oil futures in order to always make sure we are trading the proper month with the most liquidity and avoid any chance of getting into delivery situation.
Next is the contract size. Crude Oil futures are based on 1000 barrels. To be honest from a day trading perspective all I care is that each tick or 1 cent fluctuation is $10 against me or in my favor per contract. That means that a move from 92.94 to 92.74 = $200.
Another factor is trading hours. At the time I am sharing my thoughts with you, April 8th 2013, crude oil futures trade on the CME Globex platform and trade from 5 PM CDT until the next day at 4 PM CDT. That is 23 of straight trading hours. I definitely don’t recommend day trading this market 23 hours…but it is good to know the trading hours.
Volume in crude oil futures is pretty good to trade in my opinion. Averaging about 300,000 contracts per day.
One last pointer to touch on is the API (American Petroleum Institute) report that normally comes out Wednesday at 9:30 CDT (on short weeks, holidays etc. , this report will be pushed to Thursday at 10 AM CDT). I tell my clients that this report is way too volatile and I like to be out 5 minutes before and not resume trading 5 minutes until after the report comes out. This report by itself deserves a writing but on short, the report provides information on how our stock pile is doing ( = supply/demand) and the market will move based on the numbers versus what was expected. Again as a day trader, your main job is to know about this report, when it comes out and in my opinion stay out of the market during this time..
March soybeans fell sharply today, losing ±$0.60 cents (-4.4%) down to $13.09 ¾ / bushel erasing all of its gains for the month of January. March corn declined as well, by $0.24 / bushel (-4.6%) to close at $5.00 ¼ / bushel. More welcome rain was forecast for Argentina today boosting forecasts of the last two days. That opened the door for improving crop conditions into early February. Forecasts for even more rain next week in Argentina and Brazil contributed to the sell-off’s momentum. Brazil’s 1-2-week forecast called for widespread rains over most growing regions. All this points to better-than-expected crop conditions across those two important growing areas into early February.
Would you like to try out the “turning points Algo” you see on the chart in the form of blue circle and red circles?
Soybean Futures Continuation Chart
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 when it comes to Futures Trading.

 

Futures Trading Levels

1-25-2021

Futures Support & Resistance Levels 1.25.2021

 

Weekly Levels

Weekly Futures Support & Resistance Levels 1.25 - 1.29.2021

Reports, First Notice (FN), Last trading (LT) Days for the Week:

https://mrci.com

Date Reports/Expiration Notice Dates

MRCI Reports 1.25-1.29.2021

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 herein 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 judgment in tradin

COVID and How it’s Affect the Futures Markets, Crude Oil Futures Chart & Support and Resistance Levels 1.06.2021

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Light at the End of the Tunnel?
by Mark O’Brien, Senior Broker:
As we transition into 2021, the overriding impact on the global economy and commodity prices remains the world-wide pandemic. Rising post-holiday infection figures in the U.S. from California to Rhode Island, in Europe, particularly the U.K., a return of the virus in China, and a newly discovered more contagious variant are all pointing to seeing January as the worst month in this now year-long scourge. Yet, a wide range of markets have been steadfast over the last 3-4 months in their ability to look past this crisis and price in demand improvement. Grains, metals, energies, gasoline, softs all have staged heady rallies. Soybeans are at 6-year highs. Crude oil traded through $50/barrel today, platinum trading above $1,100/ounce breached 4-year highs. Likely, as new and existing vaccines are made available and administered, as the holiday infection surge passes and hospital capacities come down, as we move toward the herd immunity that health officials have explained, the markets will take stock of the light at the end of the tunnel and assess these gains. Likely as well, overall price volatility across most if not all commodity asset classes will remain for the new year.
Crude Oil broke above $50 for the first time in almost a year on OPEC meeting. Daily chart below.
Crude Oil Futures Daily Chart

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 when it comes to Futures Trading.

 

Futures Trading Levels

1-06-2021

Futures Support and Resistance Levels 1.06.2021

Economic Reports, source: 

 www.BetterTrader.co

Better Trader Futures Reports 1.06.2021

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.