Daily Support and Resistance Levels


FOMC tomorrow 11.02.2016

November 1st, 2016 Filed under Future Trading News | Comment (0)

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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 Wednesday November 2, 2016

Greetings!

BIG day tomorrow!

FOMC meeting along with ADP employment report earlier in the day and crude oil numbers…

Be aware of the reports, know your strengths and weaknesses and decide if you should be trading during these reports or not.

refer back to notes from your ( hopefully ) trading journal and stay disciplined and consistent. No trade is better than a bad trade!

Here are some notes I share before every FOMC day….

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FOMC days have different characteristics than other trading days. If you have traded for a while, check your trading notes from past FOMC days that may help you prepare for tomorrow.

if you are a newcomer, take a more conservative approach and make sure you understand that the news can really move the market.

The following are suggestions on trading during FOMC days:

  • Reduce trading size
  • Be extra picky = no trade is better than a bad trade
  • Choose entry points wisely. Look at longer time frame support and resistance for entry. Take the approach of entering at points where you normally would have placed protective stops. Example, trader x looking to go long the mini SP at 2105.00 with a stop at 2099.00, instead “stretch the price bands” due to volatility and place an entry order to buy at 2099.75 and place a stop a few points below in this hypothetical example.
  • Expect the higher volatility during and right after the announcement
  • Expect to see some “vacuum” ( low volume, big zigzags) right before the number.
  • Consider using automated stops and limits attached to your entry order as the market can move very fast at times.
  • Know what the market was expecting, learn what came out and observe market reaction for clues
  • Be patient and be disciplined

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Future Spreads 10.21.2016

October 20th, 2016 Filed under Future Trading News, Futures Trading, futures trading education, Trading Guide | Comment (0)

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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 Friday October 21, 2016

Greetings!

ECB was almost a none event today with minor moves in the markets ( except an erratic and indecisive treasury sector)

Natural gas report came out and prices ended up pretty much where it was before the report…..

A good article about futures spreads available for your trading education.

Another thought for you day traders out there – have you ever considered trading ES vs NQ?
NQ vs YM? etc. instead of just taking an outright position? Read the rest of this entry »


Be Disciplined, Be Consistent in Your Trading! 9.20.2016

September 19th, 2016 Filed under Future Trading News, Futures Trading | Comment (0)

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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 Tuesday September 20, 2016

Greetings!

Front month for stock indices (e-minis) is December.
Front month for metals is December.
Front month for currencies is December.
Front month for natural gas and crude oil / energies is November. Be consistent with your trading decision…if you have rules make sure you follow them and fight that bad voice inside that makes you deviate, usually when in a losing trade! Discipline and consistency are sometimes more important than the question of should I buy or should I sell…

Trade with confidence, Trade with a plan, Trade with discipline!

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Check out our trading systems results! Read the rest of this entry »


Trading Futures Using Fear and Greed 8.23.2016

August 22nd, 2016 Filed under Future Trading News | Comment (0)

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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 Tuesday August 23, 2016

Hello Traders,

Greetings!

Trading 201: Day Trading Using fear and greed ( using Crude Oil futures as an example)

Crude Oil Futures volatility offers a “different market personality” than stock index futures. Here is some of the things you need to know about day trading crude oil futures:
By: Ilan Levy-Mayer, Cannon Trading Commodities Broker & VP

Crude Oil is one of MY favorite futures markets for day trading. Before I dive in and share with you how the volatility in crude oil fits my risk tolerance for day trading and provide a couple of chart examples, we should review some of the specifications ofCrude Oil Futures.

Crude Oil Futures have monthly expirations. So each month we trade a different contract month, so one needs to know when the first notice day and last trading day for crude oil futures are, in order to always make sure we are trading the proper month with the most liquidity and avoid any chance of getting into a delivery situation.

Next is the contract size. Crude Oil futures are based on 1000 barrels. To be honest from a day trading perspective all I care is that each tick or 1 cent fluctuation is $10 against me or in my favor per contract. That means that a move from 92.94 to 92.74 = $200.

Another factor is trading hours. At the time I am sharing my thoughts with you, April 8th 2013 ( I wrote this one a while back but the examples and logic are still very current!) , crude oil futures trade on the CME Globex platform and trade from 5 PM CDT until the next day at 4 PM CDT. That is 23 of straight trading hours. I definitely don’t recommend day trading this market 23 hours…but it is good to know the trading hours.

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Futures Levels 6.16.2016

June 15th, 2016 Filed under Future Trading News, Futures Trading | Comment (0)

Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.

Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp

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 June 16, 2016

Hello Traders,

There will be no commentary today

Read the rest of this entry »

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