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Category: Day Trading

Here is a subject that a lot of people don’t understand at all. Day Trading can be risky. So, it is something that you should stay away from unless and until you are absolutely sure about what you are doing.

There are a number of items about Day Trading such as the minimum mantaince requirementand more that need to be taken into consideration. With the blogs and write-ups listed in this section, you can learn a great deal about day trading.

We at Cannon Trading can help you understand the different concepts of trading and present you with the latest information on the same. Our team of professional and smart people can help you in your day trading transactions and more. In order to understand day trading more clearly, we advise that you go through all the write-ups listed in this category archive on Day Trading.

Wednesday’s Question From a Day Trader Client PLUS: CannonEdge Snapshot, July Unleaded Gasoline, Levels, Reports; Your 5 Important Can’t-Miss Need-To-Knows for Trading Futures on May 28th, 2026

Posted on May 27, 2026 by Cannon Operations

At A Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — June (#GC)	4329.43	4389.97	4459.03	4519.57	4588.63
Silver (SI) — July. (#SI)	71.34	73.13	75.52	77.31	79.70
Crude Oil (CL) — July. (#CL)	84.38	86.90	90.30	92.82	96.22
June Bonds (ZB) — June. (#ZB)	111 27/32	112 5/32	112 15/32	112 25/32	113 3/32

Today’s Question from a Client:

“If I am a day trader, how should I use the Cannon Edge table you share daily?“

day trader

Highlight markets where ST = LT
Decide bias (long or short)
Ignore the opposite side unless extreme setup
Use key levels (30-day / 52-week) as targets
Execute using your intraday system
Avoid markets with conflicting trends unless scalping

What the Cannon Edge Table Actually Gives You

From the screenshot, each market shows:

Close & Today’s Change → very short-term momentum
30-day / 52-week highs & lows → key reference levels
Short-Term Trend (Up/Down arrows)
Long-Term Trend (Up/Down arrows)

In simple terms:

Short-term trend = tactical bias (today–this week)
Long-term trend = structural bias (bigger picture)

⚡ How a Day Trader Should Use It (Practical Playbook)

1. Start Every Morning with a Bias Map

Tell your client:

“The table helps you decide what side of the market you want to be on, not where to click buy or sell.”

Example from the image:

S&P (EP):
Short-term: ⬆️
Long-term: ⬆️
✅ → Strong alignment → Look for LONGS intraday
Cotton (CTE):
Short-term: ⬆️
Long-term: ⬇️
⚠️ → Conflict → Expect chop / quick trades only

2. Trade WITH Alignment = Higher Probability

This is the most important rule:

✅ When BOTH trends agree:

Focus heavily on that direction
Be more patient for entries
Hold winners longer intraday

From the table:

Nasdaq (ENQ): ⬆️ / ⬆️
Soybeans (ZSE): ⬆️ / ⬆️

These are your “A setups” markets

3. When Trends Conflict → Scalp Mode

⚠️ Short-term UP + Long-term DOWN:

Rally = likely resistance
Look for fades or quick longs only

⚠️ Short-term DOWN + Long-term UP:

Pullback environment
Look for dip buys (but not breakouts)

Example:

Crude Oil → short-term up, long-term down
Expect failed breakouts / range behavior

4. Use High/Low Levels as Intraday Targets

The table gives:

30-day highs/lows
52-week highs/lows

These are institutional reference points.

How a day trader uses them:

If price approaches:
30-day high → watch for breakout or rejection
Prior range extremes → profit targets

Example:

ES near 7483.75 (52-week high)
→ If price gets close intraday = big decision zone

5. Combine With Your Entry System (Critical)

The table does NOT replace execution tools.

Day trader should still use:

Order flow / DOM
VWAP
Opening range breakout
Support/resistance
Volume imbalances

The table answers: “Should I be looking long or short today?”

Your execution answers: “Where exactly do I enter?”

6. Filter Markets (Massive Edge)

A lot of traders overtrade.

Use the table to:

Pick 2–4 markets max
Focus only on those with:
Alignment
Strong daily moves
Clean structure

Example shortlist from your image:

ENQ (Nasdaq)
SIE (Silver)
ZSE (Soybeans)

7. Momentum Confirmation (Today’s Change Column)

Strong green + uptrend → continuation likely
Weak / mixed → avoid or reduce size

Example:

Cocoa (CCE): -4.64% → High volatility → great for fast trades but risky

July Unleaded Gasoline

The rally in July Unleaded Gasoline ran out of momentum just shy of the low percentage fourth upside PriceCount objective and activated fresh downside counts with an acceleration gap lower. Now, the char tis approaching its first objective to the 2.97 area.

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.

Cannon Edge — Your Daily Futures Snapshot for May 28th

Daily Levels for May 28th

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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.

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