Futures Trading Levels & Economic Report 8.20.2015
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 19, 2015
Hello Traders,
For 2015 I would like to wish all of you discipline and patience in your trading!
Jim Wyckoff Discusses Entry & Exit Strategies
I have received several email messages from my readers asking about how to best determine entry and exit strategies when trading markets. Here are just a few of their quotes:
-
“Though my success rate has been high, I am only breaking even financially, due to getting out too early in profit and letting my losses run too far.”
-
“Many articles are written showing when and where to enter trades… but how many articles are written about “running” positions? Where to exit surely has to be the biggest key to trading success!”
-
“I would appreciate some advice or tips on how to and when to enter a market and when to exit.”
Of course, if a trader knew exactly when to get into a market and when to get out, wouldn’t trading be easy! But even the most successful traders in the world can’t do that. The best they can strive for is to catch a bigger part of any move (trend) in the market, and then get out with a good profit before the market turns against them.
I’ve written past articles on trading with the trend and not against it, on the perils of trying to pick tops and bottoms, on support and resistance, and on letting profits run and cutting losses short, as well as trading the “breakouts.” I won’t repeat all those trading tenets here, but if you’ve missed some of my articles, drop me an email and I can attach some of them in an email to you.
In this article, I’ll get more specific on entries and exits, and what to do if you are in a trade and are accumulating profits or absorbing losses.
First of all, if you are in a trade, you should already have a general plan of action in place, including potential entry and exit points, before you entered the trade. Certainly, you can alter your plan of action in the heat of battle, but you should not enter any trade without having a well-thought-out trading plan. Also in your trading plan you can have a few scenarios that could occur and what you would do if they did occur. Read the rest at:
https://www.cannontrading.com/community/newsletter/us-dollar-index-bulls-work-to-regain-technical-momentum#two
Many ways to trade any market, many ways to lose money in any market and only very few ways to lock in gains
. If you need help creating a trading plan,
visit our broker assist services.
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.
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Futures Trading Levels
| Contract Sept. 2015 |
SP500 |
Nasdaq100 |
Dow Jones |
Mini Russell |
Dollar Index |
| Resistance 3 |
2125.00 |
4615.08 |
17728 |
1231.80 |
97.65 |
| Resistance 2 |
2111.50 |
4583.67 |
17619 |
1222.80 |
97.38 |
| Resistance 1 |
2093.50 |
4546.08 |
17465 |
1211.10 |
96.88 |
| Pivot |
2080.00 |
4514.67 |
17356 |
1202.10 |
96.61 |
| Support 1 |
2062.00 |
4477.08 |
17202 |
1190.40 |
96.12 |
| Support 2 |
2048.50 |
4445.67 |
17093 |
1181.40 |
95.85 |
| Support 3 |
2030.50 |
4408.08 |
16939 |
1169.70 |
95.35 |
| |
|
|
|
|
|
| Contract |
Dec. Gold |
Sept. Silver |
Sept. Crude Oil |
Sept. Bonds |
Sept. Euro |
| Resistance 3 |
1157.2 |
15.96 |
44.69 |
162 2/32 |
1.1291 |
| Resistance 2 |
1145.5 |
15.64 |
43.94 |
160 20/32 |
1.1215 |
| Resistance 1 |
1138.9 |
15.43 |
42.46 |
159 26/32 |
1.1173 |
| Pivot |
1127.2 |
15.11 |
41.71 |
158 12/32 |
1.1097 |
| Support 1 |
1120.6 |
14.91 |
40.23 |
157 18/32 |
1.1055 |
| Support 2 |
1108.9 |
14.59 |
39.48 |
156 4/32 |
1.0979 |
| Support 3 |
1102.3 |
14.38 |
38.00 |
155 10/32 |
1.0937 |
| |
|
|
|
|
|
| Contract |
Dec. Corn |
Dec. Wheat |
Nov Beans |
Dec. SoyMeal |
Sept. Nat Gas |
| Resistance 3 |
388.0 |
510.8 |
923.00 |
321.80 |
2.78 |
| Resistance 2 |
385.5 |
506.7 |
916.00 |
319.00 |
2.76 |
| Resistance 1 |
382.0 |
503.3 |
904.75 |
315.30 |
2.74 |
| Pivot |
379.5 |
499.2 |
897.75 |
312.50 |
2.71 |
| Support 1 |
376.0 |
495.8 |
886.5 |
308.8 |
2.7 |
| Support 2 |
373.5 |
491.7 |
879.50 |
306.00 |
2.67 |
| Support 3 |
370.0 |
488.3 |
868.25 |
302.30 |
2.65 |
|
Economic Reports
All times are Eastern time Zone (EST)
|
| Date |
4:00pm |
Currency |
Impact |
|
Detail |
Actual |
Forecast |
Previous |
Graph |
|
| ThuAug 20 |
2:00am |
EUR |
|
German PPI m/m |
|
|
-0.1% |
-0.1% |
|
|
2:45am |
USD |
|
FOMC Member Williams Speaks |
|
|
|
|
|
|
Tentative |
EUR |
|
Spanish 10-y Bond Auction |
|
|
|
1.98|1.7 |
|
|
8:30am |
USD |
|
Unemployment Claims |
|
|
272K |
274K |
|
|
10:00am |
USD |
|
Existing Home Sales |
|
|
5.45M |
5.49M |
|
|
|
USD |
|
Philly Fed Manufacturing Index |
|
|
6.9 |
5.7 |
|
|
|
USD |
|
CB Leading Index m/m |
|
|
0.2% |
0.6% |
|
|
10:30am |
USD |
|
Natural Gas Storage |
|
|
60B |
65B |
|
|
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 judgment in trading.
Tags: Commodity Futures Trading > Entry & Exit Strategies > Futures Trading Markets
Posted in: Commodity Trading | Future Trading News | Futures Trading
