Daily Support & Resistance Levels

Futures Trading Levels for Oct. 28th 2021

October 27th, 2021 Filed under Charts & Indicators, Future Trading News, Futures Trading, futures trading education | Comment (0)

Dear Traders,

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Today is the day for some futures market philosophy.

But first, a heads up: Start trading in January beans – November beans entering first notice day.

You should be already trading December natural gas.

My colleague, Mark O’Brien shared this with me today as he heard my frustration with some of the trades and markets…

“Every battle is won or lost before it is ever fought.”

Sun Tzu

The Art of War

This passage that dates back the 6th century B.C. , can aptly be applied to trading futures. Prepare for each trade and set your risk. If the initial outcome is favorable, use your enemy’s (the market’s) resources (move your stop) to sustain your trading.

Don’t engage in extended battles (over trade) and consume your resources (money, time, mental energy).

Your “enemy,” (the market) only has the power to destroy your account if you let it.

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

10-28-2021

Support & Resistance Levels for 10/28/2021

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Economic Reports, source:

https://bettertrader.co/

Better Trader Report 10/28/2021

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.

Unemployment Report Tomorrow Morning 3.14.2017

March 13th, 2017 Filed under Future Trading News | Comment (0)

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As of today you should be trading June eminis, June financials, June currencies….

You should not be trading ANY March positions.

Below is a the daily chart of the JUNE mini SP the way I view it….

Read the rest of this entry »

Trader’s Interview 3.03.2017

March 2nd, 2017 Filed under Future Trading News | Comment (0)

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Heads up: Front month for energies is now April. Front month for bonds/ten years is June as of tomorrow. Front month for grains is May.

Another good read from our friend Peter Davies at JigSawtrading.com:

Ilan: Tell us a little bit about your trading background and how you got started trading.

Peter: In the mid 90’s I was a self employed IT Consultant and ended up living in Knoxville, TN, then I moved to Netherlands, then Denmark, then Japan and finally Thailand, where I ended up starting up an IT firm servicing the client I worked for in Japan. During this time, I managed to save a lot of money which was just sitting there. I ended up having my portfolio managed by a firm of financial advisors. After 3 years, they had lost 30% of the funds. Basically they got into everything that was hot the year before, a terrible strategy in hindsight. At one point, in a meeting with them, they told me they would get back the losses by leveraging my money. They said that all they needed was a 10% gain and the leverage would mean I recouped my losses. I asked them exactly how they would make that 10% gain and they said to me “Well, anyone can make a 10% gain given enough flexibility”. I politely re-determined them that if ‘anyone’ could make 10%, then they wouldn’t have lost 30%. I withdrew all my funds and figured if I was going to lose money, I might as well do it myself rather than paying them to do it for me.

I started out longer term investing but found that hit and miss and while I do still trade on mostly oversold stocks, it was day trading where I found techniques I was really comfortable with. Read the rest of this entry »

“I get paid to wait…..” 2.14.2017

February 13th, 2017 Filed under Future Trading News | Comment (0)

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Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!

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Hello Traders

I heard this one today from a good client and wanted to share:

“I tell myself that I get paid to wait”

the client is a day-trader and was sharing with me that one of the biggest obstacles he had to overcome is the “need to look for trades” when nothing was there or how hard it is to be patient and wait for your set up. I thought I would share!

On a different note: Here is the recent press release mentioning Cannon Trading being #1 in two different categories!

Last but not least….a daily chart of US Dollar Index, which seems to be a major mover to many other markets. Currently on a bounce from a recent down trend correction and as always the big question is: will this bounce develop into another leg up or is this an opportunity to sell??

Read the rest of this entry »

Another Leg Up in Gold Futures 2.07.2017

February 6th, 2017 Filed under Future Trading News | Comment (0)

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Nice upside breakout on gold! I included a daily chart for your review below along with support/ resistance levels – possible targets.

On the other hand, ANOTHER LOW volatility, low volume, “dead action” in stock index futures. The last time I remember this was around summer of 2014 and December of 2013 where the ATR was less than 13 for more than a few days. Both times we witnessed a pretty good sell off following the tight ranges/ low volatility. No one can tell if this is what will happen next as the most famous disclaimer in our industry says: “Past performance is not indicative of future results” …..

Gold Daily chart:

GCE - Gold (Globex)Daily Chart, Equalized Active Daily Continuation