Create Trading Rules + Support & Resistance Levels 8.9.2018
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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Dear Traders,
- Only use risk capital
- Do not over trade
- Do not be greedy and many more of this nature
- Know which markets you are trading
- Know how many markets you are trading at any one give time
- Know the time frame for your trading, i.e. Are you day trading or swing trading?
- We will focus on trading crude oil, mini Russell 200 and gold futures.
- We cannot be in more than 2 markets at any one given time.
- We are approaching trading as an intraday activity, so we will be in and out within the primary trading sessions that starts at 8:30 AM EST and ends at 4 PM EST
- When do we enter a trade?
- Quantity of contracts we will trade?
- Decide when to exit a trade when a trade is losing
- Decide rules for taking profits or exit targets.
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.
Futures Trading Levels
08-09-2018
| Contract September 2018 | SP500 #ES_F | Nasdaq100 #NQ_F | Dow Jones #YM_F | Mini Russell #RTY_F | BitCoin Index #XBT_F |
| Resistance 3 | 2871.00 | 7551.17 | 25721 | 1709.97 | 7366.32 |
| Resistance 2 | 2866.75 | 7523.58 | 25676 | 1701.13 | 7080.50 |
| Resistance 1 | 2861.50 | 7497.67 | 25608 | 1694.27 | 6698.67 |
| Pivot | 2857.25 | 7470.08 | 25563 | 1685.43 | 6412.85 |
| Support 1 | 2852.00 | 7444.17 | 25495 | 1678.57 | 6031.02 |
| Support 2 | 2847.75 | 7416.58 | 25450 | 1669.73 | 5745.20 |
| Support 3 | 2842.50 | 7390.67 | 25382 | 1662.87 | 5363.37 |
| Contract | December Gold #GC_F | Sept. Silver #SI-F | Sept. Crude Oil #CL-F | Sept. Bonds #ZB_F | Sept. Euro #6E_F |
| Resistance 3 | 1235.9 | 15.69 | 71.71 | 143 16/32 | 1.1726 |
| Resistance 2 | 1229.8 | 15.58 | 70.54 | 143 6/32 | 1.1694 |
| Resistance 1 | 1225.7 | 15.51 | 68.66 | 142 30/32 | 1.1670 |
| Pivot | 1219.6 | 15.40 | 67.49 | 142 20/32 | 1.1638 |
| Support 1 | 1215.5 | 15.33 | 65.61 | 142 12/32 | 1.1614 |
| Support 2 | 1209.4 | 15.22 | 64.44 | 142 2/32 | 1.1582 |
| Support 3 | 1205.3 | 15.15 | 62.56 | 141 26/32 | 1.1558 |
| Contract | Dec. Corn #ZC_F | Sept. Wheat #ZW_F | Nov. Beans #ZS_F | Dec. SoyMeal #ZM_F | Sept. Nat Gas #NG_F |
| Resistance 3 | 389.8 | 590.7 | 923.67 | 347.10 | 3.04 |
| Resistance 2 | 388.7 | 584.3 | 918.83 | 342.40 | 2.99 |
| Resistance 1 | 386.8 | 577.2 | 914.67 | 339.90 | 2.97 |
| Pivot | 385.7 | 570.8 | 909.83 | 335.20 | 2.93 |
| Support 1 | 383.8 | 563.7 | 905.7 | 332.7 | 2.9 |
| Support 2 | 382.7 | 557.3 | 900.83 | 328.00 | 2.86 |
| Support 3 | 380.8 | 550.2 | 896.67 | 325.50 | 2.83 |
Economic Reports, source:
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.
