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Futures Day Trader Advice & Economic Reports 11.05.2015

Posted on by Ilan

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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 November 05, 2015

Hello Traders,

For 2015 I would like to wish all of you discipline and patience in your trading!

Today I must share an observation that may help many of you. So many times as a broker I see clients who know how to make money… I see it in the daily statements, good winning %, consistent profits UNTIL….something happens. Either the client who is normally a day-trader decides to carry his/hers losing position and make it into a swing trade…..OR the trader is down and refuses to accept the fact it may be a losing day and decides to double down and get more aggressive because if this trade is a winner he will have another winning day….the examples go on and no I am not referring to anyone specific although many of you probably think I am talking about them.

I have done it before as a trader. It is the inability to accept a loss that creates this snow ball.

I am not a psychologist nor a professional writer ( English is my second language if you did not tell by now (-:

What I am hoping for is that by writing this I may help the “good voice” inside your head that tells you DONT double down OR just keep the stop, win over that bad voice that is whispering to you to go ahead and reverse the position and double it when it is clearly not in your game plan…Trading is tough mentally, financially and emotionally, help yourself be a better trader by being a more disciplined trader.

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.

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Futures Trading Levels

Contract Dec. 2015 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2126.25 4769.58 18032 1206.50 99.20
Resistance 2 2118.00 4749.67 17969 1200.40 98.68
Resistance 1 2107.00 4731.08 17882 1193.40 98.35
Pivot 2098.75 4711.17 17819 1187.30 97.83
Support 1 2087.75 4692.58 17732 1180.30 97.50
Support 2 2079.50 4672.67 17669 1174.20 96.98
Support 3 2068.50 4654.08 17582 1167.20 96.65
Contract Dec. Gold Dec. Silver Dec. Crude Oil Dec. Bonds Dec.   Euro
Resistance 3 1134.4 15.51 49.92 156 7/32 1.1069
Resistance 2 1128.4 15.42 49.10 155 24/32 1.1021
Resistance 1 1117.7 15.24 47.81 155 8/32 1.0944
Pivot 1111.7 15.14 46.99 154 25/32 1.0896
Support 1 1101.0 14.96 45.70 154 9/32 1.0819
Support 2 1095.0 14.87 44.88 153 26/32 1.0771
Support 3 1084.3 14.69 43.59 153 10/32 1.0694
Contract Dec. Corn Dec. Wheat Jan Beans Dec. SoyMeal Dec. Nat Gas
Resistance 3 390.8 557.8 895.67 307.13 2.37
Resistance 2 387.2 544.3 891.33 305.47 2.34
Resistance 1 383.8 535.3 887.67 303.63 2.31
Pivot 380.2 521.8 883.33 301.97 2.28
Support 1 376.8 512.8 879.7 300.1 2.2
Support 2 373.2 499.3 875.33 298.47 2.22
Support 3 369.8 490.3 871.67 296.63 2.18
Economic Reports

source:http://www.forexfactory.com/calendar.php

All times are Eastern time Zone (EST)

 

Date 3:58pm Currency Impact Detail Actual Forecast Previous Graph
ThuNov 5 2:00am EUR German Factory Orders m/m 1.1% -1.8%
4:00am EUR ECB Economic Bulletin
4:10am EUR Retail PMI 51.9
5:00am EUR EU Economic Forecasts
EUR Retail Sales m/m 0.2% 0.0%
Tentative EUR Spanish 10-y Bond Auction 1.77|2.2
Tentative EUR French 10-y Bond Auction 0.98|2.2
6:45am EUR ECB President Draghi Speaks
7:30am USD Challenger Job Cuts y/y 93.2%
8:30am USD Unemployment Claims 263K 260K
USD FOMC Member Dudley Speaks
USD Prelim Nonfarm Productivity q/q 0.1% 3.3%
USD Prelim Unit Labor Costs q/q 2.2% -1.4%
9:10am USD FOMC Member Fischer Speaks
10:30am USD Natural Gas Storage 60B 63B
1:30pm USD FOMC Member Lockhart Speaks

 

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

 

RISK DISCLOSURE: Past results are not necessarily indicative of future results. The risk of loss in futures trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.