Hello Traders,
For 2014 I would like to wish all of you discipline and patience in your trading!
Hello Traders,
Amazing to see the difference in what I consider “an influenced market” like we seen the last week or so with Japan QE, versus a market that was free for a bit about 2-3 weeks ago….when it expected QE to be over….
Last few sessions we see the big moves happen overnight with much tighter trading ranges during the day session versus a market that had WIDE ranges and “healthy” volatility both ways a few weeks ago…..Bottom line the market is what the market is and this is what one needs to trade and not what one would like to trade…..
On a different note, I mentioned before that i like using range bars and Renko charts when it comes to short term trading versus minutes charts.
Main reason, is that i feel that Range/ renko/ Volume charts will complete faster when there is action and speed in the market , hence have potential to provide a signal faster and vise versa, may filter our some noise when the market is dead.
below you will see today’s mini SP chart. I am using 5 ticks range bar chart along with some ALGOs I created and have confidence in.
Range Bar Charts:
A Range Bar chart is constructed of bars that indicate price movement as a way to help expose trends and volatility. A bar is created each time the bar range (high to low) is equal to some value that you set in preferences.
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 three weeks free trial where I enable the ALGO along with few studies for your own sierra/ ATcharts.
To start your trial, please visit: http://levex.net/trading-algo/
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
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. Past performance is not indicative to future results.
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Futures Trading Levels
| Contract Dec. 2014 | SP500 | Nasdaq100 | Dow Jones | Mini Russell | Dollar Index |
| Resistance 3 | 2042.17 | 4213.25 | 17604 | 1184.50 | 88.50 |
| Resistance 2 | 2031.33 | 4194.75 | 17515 | 1178.70 | 88.11 |
| Resistance 1 | 2025.42 | 4170.75 | 17467 | 1171.90 | 87.83 |
| Pivot | 2014.58 | 4152.25 | 17378 | 1166.10 | 87.44 |
| Support 1 | 2008.67 | 4128.25 | 17330 | 1159.30 | 87.16 |
| Support 2 | 1997.83 | 4109.75 | 17241 | 1153.50 | 86.77 |
| Support 3 | 1991.92 | 4085.75 | 17193 | 1146.70 | 86.49 |
| Contract | Dec. Gold | Dec.Silver | Dec. Crude Oil | Dec. Bonds | Dec. Euro |
| Resistance 3 | 1195.0 | 16.80 | 82.94 | 142 10/32 | 1.2664 |
| Resistance 2 | 1182.1 | 16.42 | 81.15 | 141 29/32 | 1.2618 |
| Resistance 1 | 1162.8 | 15.88 | 80.05 | 141 18/32 | 1.2553 |
| Pivot | 1149.9 | 15.50 | 78.26 | 141 5/32 | 1.2507 |
| Support 1 | 1130.6 | 14.95 | 77.16 | 140 26/32 | 1.2442 |
| Support 2 | 1117.7 | 14.57 | 75.37 | 140 13/32 | 1.2396 |
| Support 3 | 1098.4 | 14.03 | 74.27 | 140 2/32 | 1.2331 |
source: http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:16pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| ThuNov 6 | 2:00am | EUR | German Factory Orders m/m | 2.2% | -5.7% | ||||
| 4:10am | EUR | Retail PMI | 44.8 | ||||||
| All Day | EUR | Eurogroup Meetings | |||||||
| Tentative | EUR | Spanish 10-y Bond Auction | 2.20|1.6 | ||||||
| Tentative | EUR | French 10-y Bond Auction | 1.23|2.0 | ||||||
| 7:30am | USD | Challenger Job Cuts y/y | -24.4% | ||||||
| 7:45am | EUR | Minimum Bid Rate | 0.05% | 0.05% | |||||
| 8:30am | EUR | ECB Press Conference | |||||||
| USD | Unemployment Claims | 285K | 287K | ||||||
| USD | Prelim Nonfarm Productivity q/q | 0.9% | 2.3% | ||||||
| USD | Prelim Unit Labor Costs q/q | 1.0% | -0.1% | ||||||
| 10:30am | USD | Natural Gas Storage | 86B | 87B | |||||
| 1:30pm | USD | FOMC Member Powell Speaks | |||||||
| 7:05pm | USD | FOMC Member Mester 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 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.