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NQ Daily Chart & Trading Levels 3.24.2020

Posted on by Ilan

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Dear Traders,

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I know that over the past few weeks I try to warn traders and open their eyes to the new type of reality we are in. Mostly on the risk side.
It is a whole new environment of trading.
What worked 6 weeks ago most probably not working now as far as trading is concerned.
That being said, the EXTREME volatility does present a few ( few opportunities) for traders who know how to manage trading size and have EXPERIENCE.
If you know how to take a loss.
If you know how to reduce trading size based on volatility.
If you know how to trade spreads ( NQ vs ES?)
If you understand options spreads.
THAN there are some very interesting set ups out there ( STILL with HIGHER RISK than normal). However if none of the above applies to you, the risks outweighs the potential opportunities.
This is for Stock Index futures but keep in mind MANY other markets are experiencing LARGE swings and moves.
Overnight limit, can’t trade below but can trade above.
-5%
Intra day
-7% Trading Halt 15 mins
-13% Trading Halt 15 mins
-20% Closed for rest of day
Daily chart of the NQ versus the ES chart for your review ! Sign up for the indicators here! ( red arrow = potential sell)
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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 when it comes to Futures Trading.

 

Futures Trading Levels

03-24-2020

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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.

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RISK DISCLOSURE: Past results are not necessarily indicative of future results. The risk of loss in futures trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.