Bond Chart

Bond Chart


3 Main Types of Trading Days, 30 Year Bond Chart Review & Support and Resistance Levels 11.12.2021

November 11th, 2021 Filed under Charts & Indicators, Financial Futures, Future Trading News | Comment (0)

Dear Futures Trader,

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Yesterday we had a nice volatile day, with price action both up and down and then we followed it today ( Veteran’s Day, banks are closed) with very choppy, much narrower price action. Tomorrow is Friday, after a quiet day and with some meanigful reports – which encouraged me to share the following with you on the different types of trading days:

 In my opinion there are 3 main types of trading days:

1. The most common day are two sided trading action with swings up and down – this type of trading day is most suitable for using support and resistance levels along with overbought/oversold indicators.
2. Strong trending days, mostly one directional – this type of trading day is the least common, many times will happen on Mondays and maybe 3-5 times a month at most – this type of trading day is most suitable for using ADX, MACD crossovers and pretty much looking for pullbacks to jump on the trend perhaps with the help of parabolics.
3. Slow and/or choppy trading days – this type of trading day is best suited for taking small profits from the market by looking at volume spikes, using stochastics as possible entry signals and usually wait for a pullback before jumping in.
·A good question I’ve been asked is how can one asses what type of trading day we will have while the market is still trading….I have been doing some work in finding the answers and will be happy to hear feedback via email but here are some initial observations:
1.  Was the overnight session a wide, two sided trading range? If the answer is yes, good chances for similar trading day during the primary session (primary session is when the cash/stock market is open)
2. Mondays have the highest chance for trending days
3. The behavior of the first hour of trading can also suggests the type of action for the rest of the day.
4. If the first 30 minutes of the trading day have good volume, better chances for type 1 or type 2 trading days.
5. Low volume during the first 30 minutes can suggest a choppy (type 3 trading day)
6. Are there other strong trends in other sectors? ( bonds? metals? energies? Dollar index? )
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 when it comes to Futures Trading.
Hourly/ 60 minutes chart click for larger image) of the 30 yr bonds (ZB or USA) for your review below. I have heard from some clients that they “like the personality of the bonds” better than the ES and NQ. Different dynamics, larger tick size – may be worth your time to follow and try in SIM MODE first
Futures US Treasury Bond 60 minute Chart
If you are looking for other reference material please contact your Cannon Broker for lists of solid, informative and helpful trading tomes

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 when it comes to Futures Trading.

 

Futures Trading Levels

11-12-2021

 

Futures Support and Resistance Levels 11.12.2021


Economic Reports, source: 

https://bettertrader.co/ 

BetterTrader Reports

 

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.


USDA report tomorrow! 9.30.2016

September 29th, 2016 Filed under Future Trading News | Comment (0)

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1. Market Commentary
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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 September 30, 2016

Greetings!

Two pointers for tomorrow:

1. While I mostly discuss e-minis, crude oil, gold and bonds for day trading….I do follow about another 15 active futures markets, including the grains ( corn, wheat, beans, bean meal and more). Big reports for the grains tomorrow. here is a quick outlook from AgWeb:

http://www.agweb.com/article/what-can-we-expect-from-the-next-usda-grain-stocks-report-naa-debra-beachy/

Analysts expect Friday’s USDA Grain Stocks report to show a slight increase in ending stocks, according to Rich Nelson, chief strategist for Allendale, a marketing firm in McHenry, Ill.

“We’re not expecting a big jump in ending stocks,” he says. “We don’t expect major changes.”

However, the report could be bearish if it shows a bigger-than-expected increase in ending stocks, according to some analysts. The report is based on a survey of farmers taken around Sept. 1, the end of the old crop year.

“This report puts the final stamp on the old crop marketing year,” Nelson says.

Allendale estimates old crop corn at 1.728 billion bushels, which is lower than the Sept. 12 USDA estimate of 1.915 billion bushels.  The firm estimates old crop soybeans at 214 million bushels, higher than the USDA estimate of 195 million bushels.

“We suggest that USDA missed estimates on corn exports and ethanol,” Nelson says. “We look for a moderate increase in old crop soybeans,” he adds, pointing to the fact that Allendale estimates weaker soybean demand and less domestic crush than USDA.

Analysts surveyed by Bloomberg expect Sept. 1 corn stocks to come in at 1.754 billion bushels, soybeans at 200 million bushels and wheat stocks at 2,438 million bushels.

 2. Tomorrow is the last trading day of the month and quarter! pay attention as certain markets will experience higher volatility. I wrote the following on the bonds market based on my years of observations:

Tomorrow is the last trading day of the month. Certain markets will experience certain trading behavior on the last trading day of the month.

Bonds are known to make some sharp moves right around 1:30 Central time ( 30 minutes before what used to be the pit close)

Here is a bond chart from last month’s last trading day….Pay attention to the WIDE range during the whole day and the large moves in the last 30 minutes!   (vertical line marked)

Bond Chart of the Last Trading Day of the Month

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