Posted By: Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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 January 20, 2016
For 2015 I would like to wish all of you discipline and patience in your trading!
Few pointers for you day-traders out there. I am sure you have heard some from different resources but never hurts to read and absorb this again:
1. Be patient
2. Limit the number of hours you trade
3. Know your DAILY risk before the day begins and this will dictate
the number of contracts you trade
4. Choose markets with high liquidity
5. Know what reports come out every day and their impact on the markets.
6. Understand that even the best methods will have losing days.
7. Learn to accept loses
8. Use RISK CAPITAL only
9. Don’t try to trade and do other things
10. Educate yourself
11. Keep a trading journal
Would you like a free trial for different trading indicators in real time?
Many ways to trade any market, many ways to lose money in any market and only very few ways to lock in gains. If you need help creating a trading plan,visit our broker assist services.
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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|Contract March 2016||SP500||Nasdaq100||Dow Jones||Mini Russell||Dollar Index|
|Contract||Feb. Gold||March Silver||Feb. Crude Oil||Mar. Bonds||March Euro|
|Resistance 3||1106.0||14.54||32.77||161 1/32||1.1040|
|Resistance 2||1100.3||14.36||32.07||160 11/32||1.0997|
|Resistance 1||1093.6||14.19||30.76||159 22/32||1.0961|
|Support 1||1081.2||13.85||28.75||158 11/32||1.0881|
|Support 2||1075.5||13.67||28.05||157 21/32||1.0838|
|Contract||Mar. Corn||Mar. Wheat||Mar Beans||Mar. SoyMeal||Feb. Nat Gas|
|WedJan 20||2:00am||EUR||German PPI m/m||-0.3%||-0.2%|
|Day 1||ALL||WEF Annual Meetings|
|USD||Core CPI m/m||0.2%||0.2%|
|10:30am||USD||Crude Oil Inventories||3.3M||0.2M|
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 judgment in trading.