Resistance Fibonacci Level


Micro Mini NQ Chart Review / Fibonacci Extensions; Thanksgiving Holiday Schedule & Support and Resistance Levels 11.24.2021

November 23rd, 2021 Filed under Future Trading News, Index Futures | Comment (0)

Dear Futures Trader,

Get Real Time updates and more on our private FB group!

An exercise in Fibonacci extensions….

As the NQ started moving lower today ( I actually prefer the MNQ as it causes less stomach ache when moves against me….), I was looking for a target profit on a short position a client of mine had.
I draw FIB extension for yesterday sell off move and applied it to the high on the bounce made early this morning….Today it turned out out to be an excellent tool (click for LARGER IMAGE)….gave me targets, possible trailing stops, possible re-entry and more ( always easier looking back after the fact)….Of course there are many times where this will NOT work but you may want to take a look at Fibonacci extensions as another tool in your arsenal and just Fibonacci retracement….
Micro Nasdaq #MNQ 15 Minute Chart
Short Trading week ahead with Thanksgiving Holiday this week.
See trading schedule below, be aware of the different reports, what is the market focusing on and the different closing times for the different markets between tomorrow and Friday/Sunday evening.
CME Globex Thanksgiving Holiday Futures Schedule 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

11-24-2021

Futures Support and Resistance Levels 11.23.2021

 


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.


Crude Oil Futures Market Review and Daily Chart Analysis & Support and Resistance Levels 11.18.2021

November 17th, 2021 Filed under Crude Oil, Energy Futures, Future Trading News | Comment (0)

Dear Futures Trader,

Get Real Time updates and more on our private FB group!

Crude Oil Futures Market Review and Daily Chart Analysis

Looking at both price and time FIB analysis, on the daily crude oil chart below (click here for LARGE IMAGE) I am showing a potential for crude oil to find support and have a short term reversal to the upside. I wont fight the short term trend and will look for a buy signal using 30 minute chart before I jump in front of this downward train…
What do I mean by that?
Daily chart still showing a good strength on the LONGER term scale ( see both Elliott Wave counts and trend strength). Short term we can see the strong sell of the highs made towards the end of October.
I ran both a Fibonacci retracement on prices from lows to high, as well as Fibonacci TIME retracement from the time of lows to highs to see the next TIMING window to look at.
We are getting close to a match on both time and price ( concept I was made aware of by Carolyn Boroden Strategies for Intraday Trading Fibonacci Retracements | Fibonacci Queen) so I will now look for a bullish trigger in the form of MACD cross over on the 30 minutes chart or possible turning up of RSI on the 30 minutes chart before simply trying my luck…..
As always the key will be risk and trade management if/when set up happens.
Keep in mind FRONT month for crude oil is now January! CLF22
If you are looking for other reference material please contact your Cannon Broker for lists of solid, informative and helpful trading tomes
Crude Oil Futures Daily 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

11-18-2021

Support and Resistance Levels 11.18.2021

 


Economic Reports, source: 

https://bettertrader.co/ 

BetterTrader Economic Indicators 11.17.2021

 

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.


Futures Trading Levels, Resistance at the Fibonacci Level

August 16th, 2011 Filed under Futures Trading | Comments Off on Futures Trading Levels, Resistance at the Fibonacci Level

Many of our International clients trade European indices, mostly the DAX and Euro Stoxx 50.

Daily chart of the EuroStoxx 50 for your review below, note that the recent rally has stopped right against the 38.2% FIB level. Short term resistance is 2348.5 , near term support is 2242.0

Daily Futures chart of the EuroStoxx 50 from August 16th, 2011

Daily Futures chart of the EuroStoxx 50 from August 16th, 2011

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. Read the rest of this entry »

________
Doing Business With
See more...
Loading
Loading

Loading