Futures Trading Levels and Economic Reports for August 14, 2013
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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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 August 14, 2013
Hello Traders,
For 2013 I would like to wish all of you discipline and patience in your trading!
I am being asked often “how do you set up your charts?” or “how do you make trading decisions?”
The answer will often vary based on the client I am assisting, if it is a managed account or not, the time frame and more.
However, when it comes to day-trading, I really like using range bars and renko charts. To me I find the visual smoother and more helpful for any time frame of less than 30 minutes.
I like to keep my day trading chart simple.
I include in it the following:
My diamond ALGO
Hull Moving Average
my custom indicator REL ( somewhat similar to RSI)
open/high/low
Market profile value areas and other support and resistance levels
When I assist clients in trading I like to trade in multiple of twos. Take profit on first target with half position and let the other half ride for the few times that we get a “runner”, a big winner.
The two charts below are good examples of what I wrote above. It is from today’s session and you can see the described tools in the charts.
Obviously one needs to manage positions once in a trade, which is sometimes much hardwer than the entry and I have some tips on that subject as well.
I will be more than happy to share more with you if interested. Please see instructions below the charts.
Crude Oil 18 Tick Range Bar Chart
Mini S&P 7 Ticks Range Bar Chart
Would you like to have access to my DIAMOND and TOPAZ ALGOs as shown above
and be able to apply for any market and any time frame on your own PC ? You can now have a two weeks free trial where I enable the ALGO along with few studies for your own sierra/ ATcharts.
To start your trial, please visit:
If so, please send me an email with the following information:
1. Are you currently trading futures?
2. Charting software you use?
3. If you use sierra or ATcharts, please let me know the user name so I can enable you
4. Markets you currently trading?
HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.
ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NO INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS
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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.
| Contract Sept. 2013 | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell | Dollar Index |
| Resistance 3 | 1712.67 | 3200.50 | 15662 | 1070.73 | 82.49 |
| Resistance 2 | 1703.58 | 3174.25 | 15568 | 1063.87 | 82.21 |
| Resistance 1 | 1697.42 | 3157.25 | 15494 | 1057.13 | 82.00 |
| Pivot | 1688.33 | 3131.00 | 15400 | 1050.27 | 81.72 |
| Support 1 | 1682.17 | 3114.00 | 15326 | 1043.53 | 81.51 |
| Support 2 | 1673.08 | 3087.75 | 15232 | 1036.67 | 81.23 |
| Support 3 | 1666.92 | 3070.75 | 15158 | 1029.93 | 81.02 |
| Contract | Dec. Gold | Sept. Silver | Sept. Crude Oil | Sept. Bonds | Sept. Euro |
| Resistance 3 | 1359.5 | 2238.7 | 108.93 | 135 2/32 | 1.3397 |
| Resistance 2 | 1350.2 | 2206.8 | 108.06 | 134 16/32 | 1.3359 |
| Resistance 1 | 1336.3 | 2175.7 | 107.29 | 133 17/32 | 1.3312 |
| Pivot | 1327.0 | 2143.8 | 106.42 | 132 31/32 | 1.3274 |
| Support 1 | 1313.1 | 2112.7 | 105.65 | 132 | 1.3227 |
| Support 2 | 1303.8 | 2080.8 | 104.78 | 131 14/32 | 1.3189 |
| Support 3 | 1289.9 | 2049.7 | 104.01 | 130 15/32 | 1.3142 |
| Contract | Dec Corn | Sept. Wheat | Nov.Beans | Dec. SoyMeal | Dec. bean Oil |
| Resistance 3 | 483.1 | 629.0 | 1244.83 | 383.37 | 43.32 |
| Resistance 2 | 475.4 | 628.8 | 1239.92 | 380.13 | 43.24 |
| Resistance 1 | 461.3 | 628.5 | 1233.83 | 376.47 | 43.09 |
| Pivot | 453.7 | 628.3 | 1228.92 | 373.23 | 43.01 |
| Support 1 | 439.6 | 628.0 | 1222.8 | 369.6 | 42.9 |
| Support 2 | 431.9 | 627.8 | 1217.92 | 366.33 | 42.78 |
| Support 3 | 417.8 | 627.5 | 1211.83 | 362.67 | 42.63 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:06pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| WedAug 14 | 1:30am | EUR | French Prelim GDP q/q | 0.1% | -0.2% | ||||
| 2:00am | EUR | German Prelim GDP q/q | 0.6% | 0.1% | |||||
| 2:45am | EUR | French Prelim Non-Farm Payrolls q/q | 0.0% | -0.1% | |||||
| EUR | French CPI m/m | -0.1% | 0.2% | ||||||
| 5:00am | EUR | Flash GDP q/q | 0.2% | -0.2% | |||||
| Tentative | EUR | German 10-y Bond Auction | 1.57|1.6 | ||||||
| 8:30am | USD | PPI m/m | 0.4% | 0.8% | |||||
| USD | Core PPI m/m | 0.2% | 0.2% | ||||||
| 10:30am | USD | Crude Oil Inventories | -1.3M | ||||||
| 1:20pm | USD | FOMC Member Bullard Speaks | |||||||
| 3:15pm | USD | FOMC Member Bullard Speaks |
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
