Gold Futures


Gold Futures Outlook/ Chart Review & Support and Resistance Levels 11.10.2021

November 9th, 2021 Filed under Future Trading News, futures trading education, Gold Futures | Comment (0)

Dear Futures Trader,

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Daily chart of gold futures below for your review.

Notice a few recent TECHNICAL buy signals appeared on the daily chart.
Inflation fears are also a factor but Bitcoin seems to compete with gold for attention.
The gold market experienced good amount of selling between 1835 and 1841 during the last few months, a break above it can trigger another leg higher, failure will send this market to being the range bound it has these past few months.
If you are looking at longer term trades, MICRO gold is a good, smaller size alternative.
Some traders like to use combination of futures and options, example long the futures, selling a call on rallies and using the premium to buy puts in case of a pullback. Many ways to lose money in the trading world and very few to try and profit…..
Knowing your risk is the first step, managing your risk is the 2nd step. Evaluating the trade, positions and market dynamics is an ongoing process.
Gold Futures Chart 11.10.2021

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

11-10-2021

Futures Support and Resistance Levels 11.10.2021

 


Economic Reports, source: 

https://bettertrader.co/ 

 

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.


Weekly Newsletter #1052 Learning to Lose, Gold Chart Analysis & Futures Levels for the Week Ahead

May 21st, 2021 Filed under Future Trading News, Metal Futures, Weekly Newsletter | Comment (0)

Cannon Futures Weekly Newsletter Issue # 1052

Dear Traders,

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Trading 102: Learn to Lose

Important NOTE: With The Recent Volatility Across Markets, We Have Seen Margins Increase In Some Markets As Well As Wild Swings And Extreme Volatility In Many Markets. For Some, It Can Cost The Full Account Value But Doesn’t Need To. These Volatile Times Require MAJOR Adjustments In How You Approach Trading And Risk Management. I Hope This Article Helps And I Encourage You To Utilize Our Brokers And The Knowledge They Have To Assist You.. Contact Us
Many different factors go into trading. Too many to discuss efficiently in one blog post. Some relate to trading techniques, other to money management, mental aspect, risk capital and much more.
But one that sticks in my eyes is the inability to accept a loss. I see many clients who can make money and have days where they make money but when they lose, they lose much more, sometimes even losing control and losing a big portion of their account.
I am not sure how a trader can embed this into their trading mind, BUT in my opinion if you train your brain to expect losses, understand losses and that losing days will happen, you will increase your chances of surviving in this business, which in return will actually give you a chance to succeed….
Losses are part of trading and as long as your losses are part of the plan and are quantified in advance and you can adhere to your rules, then you have a chance. I think it’s easy when traders are winning…making money etc. Much harder when you lose or down. your brain starts playing tricks on you…it tells you to double down, maybe reverse even though your analysis does not say so….all of a sudden you start pulling trades out of instinct, fear rather than a calculated plan that has solid risk/ reward. If a trader learns how to lose, to accept losses, to have realistic expectations, then he/ she can avoid having one of those terrible days when traders can lose almost of all their account.
I went into this subject and detailed day-trading money mgmt in an article I wrote a few years back for SFO magazine.

Market Pick Review for the Week:

Gold Weekly Chart below for your review. Click for larger image.
Gold has benefited from inflationary pressures as well as downside volatility in Bitcoin and crypto currencies. Safe heaven helped the yellow metal complete a nice weekly bar. A daily close above 1888 can trigger another leg up towards 1939. First support at 1838.
Weekly Gold Chart
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

5-24-2021

 

Weekly Levels

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

https://mrci.com

Date Reports/Expiration Notice Dates

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 herein 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


Weekly Newsletter #1034 – Trading Futures vs. ETs, Stocks & Gold Snap Shot, Support & Resistance Levels 1.11.2021

January 8th, 2021 Filed under Gold Futures, Metal Futures, Weekly Newsletter | Comment (0)

Cannon Futures Weekly Newsletter Issue # 1034

Dear Traders,

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Trading 201: (Day) Trading Futures vs. ETFs, Stocks
By: John D Thorpe, Cannon Trading Senior Commodities Broker
According to the Wall Street Journal, assets in Exchange Traded Funds (ETFs) have grown to roughly $2 trillion dollars since their inception. Exchange Traded Funds were created to compete with the $20 trillion dollar Mutual Fund Market as it was the only market in which you could achieve broad class diversity outside of individual stocks. ETFs were also designed to overcome the drawback that mutual funds could only settle on the close of daily business at their Net Asset Value (NAV). Previously, broad diversification across market sectors could only be purchased or sold at the close of the business day based on the equity, bond or raw material elements included in the weighted averages of every component of the sector mutual fund—thus, ETFs came into play.
The first Exchange Traded Fund, the Spider or SPDR, was the S&P 500 depository receipt which was designed to track the S&P 500 stock market Index and began trading in January of 1993. No longer could an investor achieve broad market exposure on just the close of the business day, but could now buy and sell the broad market at any time throughout the trading day. Market makers and specialists provided liquidity for ETFs and continue to do so today.
During the May 2010 so called “Flash Crash”, the NYSE cancelled all trades …..
Gold Snap Shot by Mark O’Brien, Senior Broker:
As can be the case in any asset, what starts as a moderate correction can turn into a dramatic washout. In the case of gold futures today, its ± $85 intra-day sell-off – easily slicing through $1900/ounce down to the mid-$1850 area – almost certainly involved margin and other money-oriented liquidations. As an added catalyst, look to the disappointing non-farm payroll numbers. Further soft U.S. economic data would point to lower inflationary concerns and tamp down on bullish sentiment for the precious metal.
The case for any price reversal will look for continued dollar weakness and the overall sentiment that demand improvement for commodities across the board will continue tracking its established 3-4-month uptrend as the markets look through current events.
Gold Futures Daily Chart

gold futures sell off on unemployment 01.08.2021

To access a free trial to the ALGOS shown in the chart along with other tools, visit and sign up for a free trial for 21 days with real-time data.

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

1-11-2021

Futures Trading Levels 1.11.2021

 

Weekly Levels

Weekly Support & Resistance Levels 1.11.2021 - 1.15.2021

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

https://mrci.com

Date Reports/Expiration Notice Dates

MRCI Reports 1.11.2021-1.15.2021

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 herein 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


Futures Trading Levels for January 5th, 2021

January 4th, 2021 Filed under Future Trading News, Index Futures | Comment (0)

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Dear Traders,

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If the first trading day of 2021 is any indication of the year to come….Better fasten your seatbelts!!
Thank you for choosing Cannon during this challenging year. We look forward to continuing to provide you with excellent service in 2021 and wish you a healthy, successful year ahead
mini russell 2000 chart

RTY chart for January 5th 2021

RTY = Mini Russell 2000 has been a leading indicator in my opinion for direction of stock index futures past few months.
Will be interesting to see if the sell off today was a start of a trend reversal or just risk hedging ahead of Georgia tomorrow. As usual in trading, few hours/ few days will tell the story….
If you like access to the ALGOS shown in the chart, click here.
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

January 5th 2021

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Economic Reports, source: 

 www.BetterTrader.co

 

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.


Gold Daily Chart For Review. Sympathy rally with Bitcoin? & Support and Resistance Levels 12.18.2020

December 17th, 2020 Filed under Future Trading News | Comment (0)

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Dear Traders,

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Gold Daily Chart below. Sympathy rally with Bitcoin?
End of the year rally?
Need to see a close above 1900 to get a bit more excited about this one.
Time will tell.
Quick educational tips:
1. Look for high volume markets with a thin spread, so orders are filled quickly and it has high volatility, so there are opportunities for 2 to 4 good trades during the day. The Emini S&P500 Index Future is a good example of this type of market (Each point is worth $50, split into 4 ticks of $12.50 and there are 4 contracts a year, traded on the Chicago Mercantile Exchange).
2. Try to minimize risk to 1% of your capital per trade, then your capital can absorb 100 consecutive bad trades. Even the best systems can expect 20% -40% loosing trades, so the 1% rule gives you room to maneuver.
3. $10-$15k is the minimum recommended risk capital you should have per Emini S&P500 contract traded – then if you lose $1000-$1500 it only represents 10% of you capital, which is recoverable compared to a $3k account where the same loss equals 50% of your account, consequently you are more likely to lose the remainder of your capital rather than recover the loss. If you don’t have the higher risk capital, limit yourself to the MICROS – 1/10th the size.
4. Limit the hours you trade – the more you trade, the more exposed you are to human weaknesses, frustration and more. Just like an athlete you need to preserve your trading (playing) time….

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

12-18-2020

Economic Reports, source: 

 www.BetterTrader.co

 

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.

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