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Movement in the Indices w/ Heikin-Ashi Charts 10.09.2014

Hello Traders,

For 2014 I would like to wish all of you discipline and patience in your trading!

 Today’s action in stock indices was quite impressive! The volatility we are now seeing is so different than what we witnessed 2 months ago it’s almost like we are trading a completely different market!

We had almost a 50 point range on the SP today!! Much different than the 8-12 points range we saw couple months back….This calls for you as a trader to adjust, researched and be aware of the market conditions you are trading in.

The market is moving much faster. I was watching the DOM today off and on and the speed of the moves was extreme.

When volatility expands I have the following tips:

  • Reduce trading size
  • Be extra picky = no trade is better than a bad trade
  • Choose entry points wisely. Look at longer time frame support and resistance for entry. Take the approach of entering at points where you normally would have placed protective stops. Example, trader x looking to go long the mini SP at 1925.00 with a stop at 1919.00, instead “stretch the price bands” due to volatility and place an entry order to buy at 1919.75 and place a stop a few points below in this hypothetical example.
  • Consider using automated stops and limits attached to your entry order as the market can move very fast at times.
  • Be patient and be disciplined

As far as market outlook, we are still in a wide band as you can see below in both the daily and hourly charts:

 

 

Daily chart:

 

Hourly Chart:

 

For a free trial of the indicators shown in the charts above, visit:

http://levex.net/trading-algo/

 

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.

 

If you like Our Futures Trading Daily Support and Resistance Levels, Please share!

 

Contract Dec. 2014 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2024.50 4185.75 17385 1135.77 86.57
Resistance 2 1994.25 4113.75 17157 1114.23 86.30
Resistance 1 1978.50 4074.75 17039 1103.47 85.83
Pivot 1948.25 4002.75 16811 1081.93 85.56
Support 1 1932.50 3963.75 16693 1071.17 85.09
Support 2 1902.25 3891.75 16465 1049.63 84.82
Support 3 1886.50 3852.75 16347 1038.87 84.35
Contract December Gold Dec.Silver Nov. Crude Oil Dec. Bonds Dec. Euro
Resistance 3 1248.9 17.99 90.44 142 2/32 1.2916
Resistance 2 1236.7 17.73 89.54 141 16/32 1.2836
Resistance 1 1229.5 17.58 88.64 141 6/32 1.2789
Pivot 1217.3 17.32 87.74 140 20/32 1.2709
Support 1 1210.1 17.17 86.84 140 10/32 1.2662
Support 2 1197.9 16.91 85.94 139 24/32 1.2582
Support 3 1190.7 16.76 85.04 139 14/32 1.2535
Contract Dec Corn Dec. Wheat Nov. Beans Dec. SoyMeal Dec. bean Oil
Resistance 3 349.7 508.2 947.67 321.73 33.28
Resistance 2 346.6 508.1 942.33 318.27 33.16
Resistance 1 344.9 507.9 938.67 314.03 33.09
Pivot 341.8 507.8 933.33 310.57 32.97
Support 1 340.2 507.7 929.7 306.3 32.9
Support 2 337.1 507.6 924.33 302.87 32.78
Support 3 335.4 507.4 920.67 298.63 32.71

 

Futures Trading Levels

Economic Reports

source: http://www.forexfactory.com/calendar.php

All times are Eastern time Zone (EST)

 

Date 3:56pm Currency Impact Detail Actual Forecast Previous Graph
ThuOct 9  2:00am EUR German Trade Balance 18.4B 22.2B
2:45am EUR French Trade Balance -5.7B -5.5B
4:00am EUR ECB Monthly Bulletin
8:30am USD Unemployment Claims 291K 287K
10:00am USD Wholesale Inventories m/m 0.3% 0.1%
10:30am USD Natural Gas Storage 108B 112B
11:00am EUR ECB President Draghi Speaks
Day 1 ALL G20 Meetings
1:01pm USD 30-y Bond Auction 3.24|2.7
1:10pm USD FOMC Member Tarullo Speaks
1:30pm USD FOMC Member Fischer 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.

 

Tags: > > Posted in: Commodity Brokers   | Commodity Trading   | Day Trading   | Futures Trading   | Index Futures   | Indices  

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