Trading metal futures? If you are planning to, then it is important to know that in this kind of trading you always have to come prepared. Do your homework and track the indices daily. Take out time and check how metals are doing in different parts of the world.
Take a look at the Eastward market every day. The first markets to open are the Asian ones. Begin your tracking of indices from here. Apart from this you will also have to be regular with reading the business reports. There is much work for you to do before you put your money in metals futures.
Because trading requires one to take out a considerable amount of time for studying and analyzing, and because a lot of people have everything but time, there are traders and brokers. We at Cannon Trading can assist you with trading. If you want to trade yourself, we give you the advice. In short, we are there to help you with whatever you have got. Here we have a category archive that lists some informative blogs on metal futures and trading. Go through these valuable posts to increase your knowledge of metal futures.
Hello Traders,
For 2014 I would like to wish all of you discipline and patience in your trading!
Hello Traders,
I posted some longer term outlook on gold at:
http://experts.forexmagnates.com/gold-outlook-zirp-zero-interest-rate-policy/
Continue reading “Heikin-Ashi Futures Gold Chart & Economic Reports 11.13.2014”
Hello Traders,
For 2014 I would like to wish all of you discipline and patience in your trading!
I may sound like I keep repeating myself but make sure you are adapting to the different market conditions we are seeing compared to a month ago or so.
There is much higher volatility, speed of price change and wider ranges.
Moves today in bonds, S&P, Russell, Crude, Gold and many other markets were very sharp, fast and powerful. This obviously presents both risks and opportunities but for newcomers – mostly risk.
This is a good day to keep notes on in your journal. What caused the price action? What type of “bands” did the market have? How did you do as a trader? What can you do better and learn from for the next “Wild, crazy” day which may even happen tomorrow?
The biggest advice I can give on days like today is to make sure you don’t lose it….make sure you know what your daily loss limit is and step away if it gets triggered. This is one of those days where I have seen traders blow their whole account up…..So just make sure you live to trade another day!
Hello Traders,
For 2014 I would like to wish all of you discipline and patience in your trading!
Another two markets I like to touch on when it comes to “other markets to daytrade beside the mini SP 500” are Crude Oil Futures and Gold futures.
More than a few similarities between the two markets.
They are both volatile, can move VERY fast. I have seen some very large moves happen in matter of minutes if not seconds. The “fear & greed” factor really plays a role in these specific two markets.
Both have active trading hours starting with Far East trading around 10 PM est all the way to the next morning until about 3 PM est. Good volume generally speaking but not close to the mini SP or ten year notes. So you may see some slippage on stops but the volume is more than enough to trade size.
Each tick on gold is $10, so every dollar move =$100 against you or in your favor. Crude is similar, each tick = $10. One full $1 move = $1000.
Continue reading “Crude Oil & Gold Futures Renko Charts; Economic Reports & Levels 10.08.2014”
Hello Traders,
For 2014 I would like to wish all of you discipline and patience in your trading!
So I was doing some research and signal evaluator work on some candlesticks formation to go along with some of the conditions I like to use and figured might as well share some of the basic knowledge with my readers…
The following is taken from my CQG trading/chart terminal. If anyone is interested in a free trial, feel free to email me or visit our CQG section on our website.
So today, two formations I started exploring:
1. Engulfing Bearish
The Engulfing Bearish formation is, of course, a bearish formation and therefore its symbol (EG) will always appear at the top of the formation. It represents the opposite of the Engulfing Bullish formation. Three criteria establish an Engulfing Bearish formation:
*The market has to be in a clearly definable up-trend, even if the trend is short term.
*Of the 2 candlesticks in the formation, the second candle’s real body must engulf the first candle’s real body.
*The second real body of the formation should be “down” while the first real body should be “up.”
2. Engulfing Bullish
The Engulfing Bullish formation is, of course, a bullish formation and therefore its symbol (EG) will always appear at the bottom of the formation. It represents the opposite of the Engulfing Bearish formation. Three criteria establish an Engulfing Bullish formation:
*The market has to be in a clearly definable downtrend, even if the trend is short term.
*Of the 2 candlesticks in the formation, the second candle’s real body must engulf the first candle’s real body.
*The second real body of the formation should be “up” while the first real body should be “down.”
Above is a daily chart of Gold futures, going back to March 17th 2014 where one can see a good example of the ” Bearish EG” formation and yet in the same exact chart you can see a failed “Bullish EG” formation on May 2nd 2014.
Will continue and explore a few other candlesticks formations over the next couple of weeks.
Continue reading “Gold Daily Continuation Chart – Levels & Reports 8.14.2014”
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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 Thursday May 29, 2014
Hello Traders,
For 2014 I would like to wish all of you discipline and patience in your trading!
US Bonds front month as of tomorrow is SEPTEMBER.
FRONT month for gold as of tonight is AUGUST.
Indices and currencies are still trading the June contract.
talking about gold, here is a quick piece I did for investing.com a few days ago:
http://www.investing.com/analysis/gold-futures-about-to-break-out,-but-in-which-way-214027
If you like the information we share? We would appreciate your positive reviews on our new yelp!! Continue reading “Front Month for Gold Futures is August, Front Month for Bond Futures is September 5.29.2014”
Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.
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 13, 2013
Hello Traders,
For 2013 I would like to wish all of you discipline and patience in your trading!
Gold and silver are much different markets in my opinion than mini SP or us tbonds for example. Gold, silver and crude oil for that matter are quite volatile with fear and greed playing a bigger role than in other markets. I have seen these markets make some very large moves intraday at times.
I do think that both gold and crude oil are GOOD markets to observe as potential for day-trading as long as you use stops…if you are a trader that “uses mental stops” , these markets are not for you…Good news is that both crude and gold have a mini contract .
Gold chart for your review below with some possible levels to watch for:
Continue reading “Gold Daily & Trading Levels & Economic Reports 11.13.2013”
Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.
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 Thursday May 16, 2013
Hello Traders,
For 2013 I would like to wish all of you discipline and patience in your trading!
We saw good volume across different markets today including better volume in the SP 500 than we saw in a while.
The most meaningful move in my opinion was in silver and gold and a daily chart of the gold market is below for your review:
Continue reading “Futures Trading Levels and Economic Reports for May 16, 2013”
Jump to a section in this post:
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 Tuesday April 16, 2013
Hello Traders,
For 2013 I would like to wish all of you discipline and patience in your trading!
Some extreme volatility in the markets to start the week. Historical price moves in gold and silver as well as big moves in crude oil as well as stock indices.
I have been mentioning over the past few weeks that the volatility cycle, which has been very low is due to move into higher volatility. It seems from the action in the markets that this may be the start.
My opinion is that if you are a day-trader you need to understand that we are starting a higher volatility period. I recommend adjusting accordingly and I think the wise thing to do is lower the number of contracts you buy/sell per trade and be aware of the higher time frames on the charts.
Be prepared for wider swings which may require wider stops and probably being a little more selective on entry points.
Weekly chart of the June SP500 mini below for your review. I think that 1543 and 1524 stick out as near term important levels.
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.
| Contract June 2013 | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell | Dollar Index |
| Resistance 3 | 1609.00 | 2896.17 | 14990 | 968.00 | 82.98 |
| Resistance 2 | 1596.00 | 2873.58 | 14894 | 953.90 | 82.76 |
| Resistance 1 | 1572.50 | 2834.92 | 14723 | 929.30 | 82.62 |
| Pivot | 1559.50 | 2812.33 | 14627 | 915.20 | 82.41 |
| Support 1 | 1536.00 | 2773.67 | 14456 | 890.60 | 82.27 |
| Support 2 | 1523.00 | 2751.08 | 14360 | 876.50 | 82.05 |
| Support 3 | 1499.50 | 2712.42 | 14189 | 851.90 | 81.91 |
| Contract | June Gold | May Silver | May Crude Oil | June Bonds | June Euro |
| Resistance 3 | 1599.4 | 2835.8 | 93.20 | 149 22/32 | 1.3172 |
| Resistance 2 | 1547.2 | 2720.2 | 92.09 | 149 | 1.3143 |
| Resistance 1 | 1452.9 | 2504.3 | 90.08 | 148 18/32 | 1.3093 |
| Pivot | 1400.7 | 2388.7 | 88.97 | 147 28/32 | 1.3064 |
| Support 1 | 1306.4 | 2172.8 | 86.96 | 147 14/32 | 1.3014 |
| Support 2 | 1254.2 | 2057.2 | 85.85 | 146 24/32 | 1.2985 |
| Support 3 | 1159.9 | 1841.3 | 83.84 | 146 10/32 | 1.2935 |
| Contract | May Corn | May Wheat | May Beans | May SoyMeal | May bean Oil |
| Resistance 3 | 661.2 | 714.2 | 1433.00 | 409.13 | 50.11 |
| Resistance 2 | 657.6 | 708.6 | 1425.00 | 405.57 | 49.71 |
| Resistance 1 | 652.2 | 701.2 | 1410.00 | 399.43 | 48.94 |
| Pivot | 648.6 | 695.6 | 1402.00 | 395.87 | 48.54 |
| Support 1 | 643.2 | 688.2 | 1387.0 | 389.7 | 47.8 |
| Support 2 | 639.6 | 682.6 | 1379.00 | 386.17 | 47.37 |
| Support 3 | 634.2 | 675.2 | 1364.00 | 380.03 | 46.60 |
| Date | 4:00pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| TueApr 16 | 4:00am | EUR | Italian Trade Balance | -1.41B | -1.62B | ||||
| 5:00am | EUR | German ZEW Economic Sentiment | 41.5 | 48.5 | |||||
| EUR | CPI y/y | 1.7% | 1.7% | ||||||
| EUR | Core CPI y/y | 1.4% | 1.3% | ||||||
| EUR | ZEW Economic Sentiment | 31.5 | 33.4 | ||||||
| 8:00am | USD | FOMC Member Dudley Speaks | |||||||
| 8:30am | USD | Building Permits | 0.94M | 0.94M | |||||
| USD | Core CPI m/m | 0.2% | 0.2% | ||||||
| USD | CPI m/m | 0.0% | 0.7% | ||||||
| USD | Housing Starts | 0.93M | 0.92M | ||||||
| 9:00am | EUR | ECB President Draghi Speaks | |||||||
| 9:15am | USD | Capacity Utilization Rate | 78.4% | 79.6% | |||||
| USD | Industrial Production m/m | 0.3% | 0.7% | ||||||
| 10:00am | USD | Treasury Sec Lew Speaks | |||||||
| 12:00pm | USD | FOMC Member Duke Speaks | |||||||
| 3:00pm | USD | FOMC Member Yellen Speaks | |||||||
| USD | Treasury Sec Lew Speaks |
Jump to a section in this post:
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 Friday April 12, 2013
Hello Traders,
For 2013 I would like to wish all of you discipline and patience in your trading!
Not much to write today but two excellent articles about trading which you can read at:
https://www.cannontrading.com/community/man-vs-markets-futures-trading-blog
Jump to a section in this post:
1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Economic Reports for Wednesday May 24, 2012
Hello Traders,
I think the leader of the markets these past few trading sessions, have been gold – an example is from today’s trading session when SP lows followed Gold lows by minutes…. Below you will see an hourly chart of the gold market with potential, very short term targets on both a continued bounce as well as in case the longer term down trend resumes.
Personally, I think gold will be trading between 1523 to 1625 for a while , which by itself is a very wide range if I am right and I have been wrong many times before.
When you feel the “heat of the markets” is affecting you and you are in a position, take a step back and ask yourself, “what would I do if I was not in a position currently…”? the answer should help you manage your current position while in a trade.
Hourly chart of Gold Futures below for your review:
