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Weekly Newsletter #1040 Day Trading Using Counter Trend or Trend Following Concepts Video and Trading Levels for the Week Ahead

February 19th, 2021 Filed under Future Trading News, Metal Futures, Weekly Newsletter | Comment (0)

Cannon Futures Weekly Newsletter Issue # 1040

Dear Traders,

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Trading 101: Trading Video: How I like to day-trade futures using either counter trend or trend following concepts ( or what I call simpler approach to day trading)
In This 25 Minutes Video You Will Learn The Following:
1. Possible advantages of using range bar charts over time charts for day trading
2. Trade set ups using counter trend indicators
3. Trade set ups using trend following indicators
4. The concept of price confirmation
5. Tips and insights from Ilan’s observations of different markets
6. You will be able to install the indicators/concepts mentioned and practice right away with your own demo!
Dr Copper – -Weekly Copper Chart for your review below
Copper Futures Weekly 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

2-21-2021

Futures Support and Resistance Levels

 

Weekly Levels

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

https://mrci.com

Date Reports/Expiration Notice Dates

MRCI Reports 2/22 - 2/26

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 tradin


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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Get Real Time updates and market alerts on Twitter!
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


What are the Best Approaches for Long-Term Gold Futures Price Forecasting?

May 28th, 2018 Filed under Gold Futures, Metal Futures | Comment (0)

Author: Mark O’Brien, Senior Broker at Cannon Trading Co, Inc.

There is no easy answer to what the best strategy is to predicting price movement in gold futures, much less any other commodity.  Given that rather glum starting point, there are approaches that analysts and economists use to forecast prices.  One most commonly employed is the use of broad-based commodity indexes – in which prices of food, energy, other metals, lumber, etc. are aggregated to gauge overall commodity price inflation – or the lack thereof.

Another strategy is to look for trends in the economic measurements of major developed and developing countries, such as business and consumer confidence, retail sales, interest rates, production of energy products (unleaded gas, heating oil, jet fuel, natural gas) and industrial metals (steel, aluminum).  These can also be aggregated to provide a broader reflection of global inflation. Read the rest of this entry »

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