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 Wednesday February 18, 2015
For 2015 I would like to wish all of you discipline and patience in your trading!
Why I Like to Use Tick and Volume Charts for Scalping
by Ilan Levy-Mayer, Cannon Trading VP featured on Equities.com
February 13th, 2015
Today, I decided to touch more on an educational feature rather than provide a certain market outlook.
Many of my clients and blog readers know that when it comes to short-term trading I am a fan of using volume charts, tick charts, range bar charts and Renko charts rather than the traditional time charts like the 1 minutes, 5 minutes etc.
My rule of thumb is that if you as a trader who makes decisions based on charts that are less than 15 minutes time frame, it may be worth your time to research, back test and do some homework as to potentially using other type of charts like volume charts, Range charts etc.
Volume charts will draw a new bar once a user defined number of contracts traded. An example is the mini SP 10,000 volume chart which will draw a new bar once 10,000 contracts are traded.
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 2015||SP500||Nasdaq100||Dow Jones||Mini Russell||Dollar Index|
|Contract||Apr. Gold||Mar.Silver||March Crude Oil||Mar. Bonds||March Euro|
|Resistance 3||1262.0||18.32||57.90||147 22/32||1.1602|
|Resistance 2||1249.4||17.86||56.02||146 29/32||1.1527|
|Resistance 1||1228.6||17.18||54.56||145 17/32||1.1475|
|Support 1||1195.2||16.04||51.22||143 12/32||1.1348|
|Support 2||1182.6||15.58||49.34||142 19/32||1.1273|
|Support 3||1161.8||14.90||47.88||141 7/32||1.1221|
|Contract||March Corn||March Wheat||March Beans||March SoyMeal||March bean Oil|
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.