#crudeoil

#crudeoil


Cannon Futures Weekly Letter Issue # 1184 + Futures Trading Levels for the week of 3.04.2024

March 1st, 2024 Filed under Commodity Brokers, Commodity Trading, Day Trading, Future Trading News, Futures Broker, Futures Trading, futures trading education | Comment (0)

Get Real Time updates and more by joining our Private Facebook Group!
Subscribe to our YouTube Channel

Cannon Futures Weekly Letter Issue # 1184

 

In this issue:
  •  Important Notices – Monetary Policy Congressional Testimony
  • Trading Resource of the Week – Trade Alerts Via Email/Text
  • Hot Market of the Week – April Unleaded
  • Broker’s Trading System of the Week – NQ Day Trading System
  • Trading Levels for Next Week
  • Trading Reports for Next Week

Plan your trade and trade your plan

Important Notices –
  • Earnings: incl. Broadcom,Costco,Target,Oracle and Crowdstrike
  • Hon. J.Powell: semiannual Monetary Policy Congressional Testimony/Wed
  • Data: NonFarm Payrolls/Employment Situation/Fri
  • Ag Data: WASDE and USDA Supply/Demand/Fri
  • June is front month for Bonds
Trading Resource of the Week :
 Real Time Email and/or Text Alerts
Directly to your Phone!
  • You will receive an email each time there is an entry or exit in a simple language along with the current price for that specific market.
  • Example: Buy April Crude Oil at 79.76 on limit. Target will be 83.54. Stop at 76.36
  • A licensed series 3 broker at your fingertips
  • Email alerts available to US and Canada and Int’l clients
  • Alerts available for: Stock Indices, Grains, Metals, Rates, Currencies, Meats & Softs
  • Alerts are SWING Trades
  • See an example of a recent trade alert for Crude Oil Futures in the image below – a new trade alert from Friday, March 1st

Trade Alert Sample for Crude Oil futures below

 

  • Hot Market of the Week – April RBOB (unleaded)
Hot market of the week is provided by QT Market Center, A Swiss army knife charting package that’s not just for Hedgers, Cooperatives and Farmers alike but also for Spread traders, Swing traders and shorter time frame application for intraday traders with a unique proprietary indicator that can be applied to your specific trading needs.
April RBOB completed its first upside PriceCount objective this month before setting back in a consolidation trade. At this point, IF the chart can resume its rally with new sustained highs, the second count would project a run to the $2.73 area which is consistent with a challenge of the fall high.
PriceCounts – Not about where we’ve been , but where we might be going next!
The PriceCount study is a tool that can help to project the distance of a move in price. The counts are not intended to be an ‘exact’ science but rather offer a target area for the four objectives which are based off the first leg of a move with each subsequent count having a smaller percentage of being achieved. It is normal for the chart to react by correcting or consolidating at an objective and then either resuming its move or reversing trend. Best utilized in conjunction with other technical tools, PriceCounts offer one more way to analyze charts and help to manage your positions and risk. Learn more at www.qtchartoftheday.com
Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors. Past performance of actual trades or strategies is not necessarily indicative of future results.
   Broker’s Trading System of the Week
With algorithmic trading systems becoming more prevalent in portfolio diversification, the following system has been selected as the broker’s choice for this month.
 Anansi mini nasdaq 5
PRODUCT
Mini NASDAQ 100
SYSTEM TYPE
Intraday
Recommended Cannon Trading Starting Capital
$30,000
COST
USD 245 / monthly

The performance shown above is hypothetical in that the chart represents returns in a model account. The model account rises or falls by the average single contract profit and loss achieved by clients trading actual money pursuant to the listed system’s trading signals on the appropriate dates (client fills), or if no actual client profit or loss available – by the hypothetical single contract profit and loss of trades generated by the system’s trading signals on that day in real time (real‐time) less slippage, or if no real time profit or loss available – by the hypothetical single contract profit and loss of trades generated by running the system logic backwards on back adjusted data. Please read full disclaimer HERE.
Would you like to get weekly updates on real-time, results of systems mentioned above?
Yes
No

Daily Levels for March 4th, 2024

Would you like to receive daily support & resistance levels?
Yes
No
Weekly Levels

First Notice (FN), Last trading (LT) Days for the Week:

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

* 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.


Trade Management + Futures Trading Levels 3.01.2024

February 29th, 2024 Filed under Commodity Brokers, Commodity Trading, Day Trading, Future Trading News, Futures Broker, Futures Trading, futures trading education | Comment (0)

Get Real Time updates and more by joining our Private Facebook Group!
Subscribe to our YouTube Channel

 

 

 

Trade management is more important than Market Analysis….

I have done this so many times before, my colleagues tell me when it happens to them as well as some of my clients….You have the perfect read on the market. The market actually ends up doing what you thought it would and in a BIG way…yet somehow you managed to LOSE money despite your perfect analysis. To me this is sometimes more frustrating than having a bad losing day.

What happened?

Poor trade management, that’s what happened.

Yes, reading the market well is a much needed quality if you plan on making money rather than contributing donations to the market but more important is how you manage the trade / position once you read the market. Much easier said than done, especially after the fact but here are some tips that I am hoping will assist you in the next time you have a good market read.

By the way, the reason to this quick trading tidbit is the stock market rally we saw today in stock indices. Both my colleague and I “had the right analysis” on this possible rally yet he managed to lose and get stopped out twice while I took a small piece of the rally BUT not nearly as much as I should have….

1.      You don’t have a crystal ball. To think you can buy an ES contract in this volatility and use a 2 point stop in hopes of making 20 points profit is a very low probability event…you would need to buy it at the PEREFECT time for this to happen. Point is, with higher volatility you need to use WIDER stops to give yourself a chance. That may mean using SMALLER trade size.

2.      If you are able to, share your read with another trader, it may provide you with a better perspective just by sharing.

3.      If you think there is room for a big move or what we call a “runner” – be prepared to for the pullbacks. Use multiple time frames to gain a better perspective and hang in there for the big move, if this is what you think can happen.

4.      If you have enough risk capital, try to use multiple contracts, example buying 2 rather than 1. Taking profit on the first part of the position will help you relax and look at what the market is really telling you rather than what you would like it to say. It helps reduce both the fear and the greed.

5.      “Plan your trade, trade your plan”

Again these are just some short pointers, written quickly after today’s session in hopes of helping you when you face a similar situation.

 

Plan your trade and trade your plan

 

 

 

Daily Levels for March 1st, 2024

Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

* 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.


Bitcoin Flirting with All time highs, PCE + Futures Trading Levels for 02.29.24

February 28th, 2024 Filed under Bitcoin Futures, Charts & Indicators, Commodity Brokers, Commodity Trading, Day Trading, Future Trading News, Futures Broker, Futures Trading, Trading Guide | Comment (0)

Get Real Time updates and more by joining our Private Facebook Group!
Subscribe to our YouTube Channel

 

 

PCE, Bitcoin and More

By Mark O’Brien, Senior Broker

 

Heads up: 

Keep an eye out tomorrow (7:30 A.M., Central Time) for the release of the Fed’s preferred U.S. inflation gauge: the PCE Personal Consumption & Expenditures Price Index.  The consensus is that the January core PCE deflator will ease to 2.8% year-over-year from the 2.9% reading December.

General: 

By and large, the outlook for the global economy is improving.  In China, the business storm clouds are at least not bucketing down on the county’s overall fiscal house.  Report after economic report released in the U.S. continue to validate forecasts of a future “soft landing,” or better – plain ol’ get up and go.  To that end, A.I. euphoria dominates the conversation about what’s driving things.  Even the disappointment surrounding the Fed’s patience in deciding when interest rates should be lowered hasn’t disturbed the current frame of mind.  Keep an eye out for commodities sitting on major lows, such as corn and soybeans.  Even with forecasts for a large South American harvest and a stage set for a strong crop year in the U.S., global growth begets global demand and “bargain price” commodities may be ready to mount rallies.

Crypto: 

Bitcoin’s value has been on an impressive rise over the past month, and CME Bitcoin futures (“Full-size”-5-Bitcoin contract, 1/50-Micro Bitcoin contract) have lead the way, with the March Micro Bitcoin contract hitting $65,000 during morning trading today, well above the $57,000 range highs posted in Nov. 2021.  Open interest for the full-size contract came in at a nominal value of $7.77 billion, which is nearly a third of the market share for all Bitcoin market derivatives – more than Binance ($6.1 billion); more than Bybit ($4.1 billion).  These values surpassed past records set in both 2021 and 2017.

At present, the open interest figures for bitcoin futures have reached an all-time high of $24.44 billion as of Feb. 27, 2024.

 

 

Energy: 

Did you know the U.S. is currently producing around 13.3M barrels of crude per day, which is way more than any country on the globe, including Saudi Arabia at ±8.9M barrels per day (as of Dec. ’23). The output growth has helped tame gas prices and, perhaps more importantly, undermined the influence of OPEC and Russia following the invasion of Ukraine in 2022.

 

Producers also know that while times are good, demand can come down or eventually plateau, especially with the U.S. currently exporting more oil than nearly every member of OPEC. Remember the 2014-16 downturn, which hammered the industry and was largely driven by a supply glut.

 

Plan your trade and trade your plan

 

 

 

Daily Levels for February 29th, 2024

Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

* 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.


2024 World Cup Trading Championships + Levels for 02.28.24

February 27th, 2024 Filed under Commodity Brokers, Commodity Trading, Day Trading, Economic Trading, Future Trading News, Futures Broker, Futures Trading, Trading Guide | Comment (0)

Get Real Time updates and more by joining our Private Facebook Group!
Subscribe to our YouTube Channel

 

 

The 2024 World Cup Trading Championships® are just around the corner.

You are invited to enter the ultimate trading challenge, where some of the world’s best Futures and Forex traders compete.

The World Cup Trading Championships have been held since 1983 and are the most prestigious trading competitions in the industry. The winners of each division will prove that they are the best of the best.

The top profitable Entrants will be eligible to receive a magnificent pewter Bull and Bear trophy or a beautiful crystal Bull and Bear Trophy.

Real-money competitions based on net returns – no entry fee required.

Take on traders from across the globe to compete for coveted Bull & Bear trophies, glory, and new career opportunities.

Do you have what it takes?

ENTER NOW!

Contact us at 1-310-859-9572 or Visit Us on the Web

 

 

Daily Levels for February 28th, 2024

Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

* 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.


Heavy Data Week Ahead + Futures Trading Levels 2.27.2024

February 26th, 2024 Filed under Commodity Brokers, Commodity Trading, Day Trading, Future Trading News, Futures Broker, Futures Trading, Trading Guide | Comment (0)

Get Real Time updates and more by joining our Private Facebook Group!
Subscribe to our YouTube Channel

 

 

Heavy Data Week Ahead

by John Thorpe, Senior Broker

 

Will this be additional Grist for the bullish mill?

With such a heavy data week, durable goods, consumer confidence, GDP for the 2nd estimate of Fourth Quarter economic activity as follows:

Jobless claims and ISM, 11 Fed Speakers and the Earnings season just about over, perhaps the market will be leaping forward, by weeks end: or not.

The main event for investors this week will be core personal consumption expenditures price index (PCE) and is the Fed’s preferred measure of inflation due on Thursday @ 7:30 a.m. CST.

Core PCE Price Expectations for Y/Y range is +2.8-2.9% with PCE M/M in a range of -0.1 to 0.4%. per Econoday.com. Hotter readings from other data sets have increased the likelihood that this measure may also top expectations and delay even further a fed rate reduction.

Markets are currently pricing in a 20% chance the fed will ease rates first during the May meeting when nearly a month ago the May decrease carried a probability of nearly 90 percent per the CME Fedwatch tool.

Plan your trade and trade your plan

 

 

Daily Levels for February 27th, 2024

Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

* 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.

Have A Questions? Open an account Free Demo Account Free Demo Account

Question?

Valid first name is required.
Valid last name is required.
Phone number is required.
E-mail is required.
Message is required.
Phone (USA)
Phone (International)
Our Approach

You and your broker will work together to achieve your trading goals. We develop long term relationships with our clients so that we can grow and improve together.
Learn More About Choosing Cannon

Our Platforms

Please click on one of our platforms below to learn more about them, start a free demo, or open an account.
E-Futures Sierra Charts Firetip (Mac Compatible) RTrader

________
Doing Business With
See more...
Loading
Loading

Loading