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Weekly Newsletter: Order Flow 101 + Trading Levels for June 24th

June 21st, 2024 Filed under Charts & Indicators, Commodity Brokers, Commodity Trading, Day Trading, E-Mini Futures, Future Trading News, Future Trading Platform, Futures Broker, Futures Trading, futures trading education, Index Futures, Indices, Nasdaq, Weekly Newsletter | Comment (0)

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Cannon Futures Weekly Letter Issue # 1199

In this issue:
  • Important Notices – USDA Reports, Presidential Debate and Heavy Economic Data
  • Futures 101 – Essentials of Order Flow
  • Hot Market of the Week – Dec. Corn
  • Market Scanner – For Monday June 24th
  • Broker’s Trading System of the Week – Mini Nasdaq Swing Trading System
  • Trading Levels for Next Week
  • Trading Reports for Next Week

 

Important Notices – Next Week Highlights:

  • Earnings, FedSpeak, Presidential Debate and Heavy Economic Data including Bank Stress Test results.
    • FedEx, Micron and Nike report after the close T, W, Thu. In that order Highlight the earnings calendar next week.
    • Fed Members are in Europe next week, Mon. 2 am CST Waller speaks from Rome, Daly at 10 am CST.
    Tues. 6 am CST Bowman, 11 AM Cook. Fri. Barkin 5 am CST, Bowman 11 am CST.
    • Data Begins Mon. (Please review Calendar below for specific times) Dallas Fed Manufacturing Index,
    • Tues. Chi Fed Nat’l Activity Index, Housing Data, Consumer Confidence
    •  Wed. Building Permits, 3:30 CST
    • Bank Stress Test results
    • Thu. Core PCE Q over Q, Jobless Claims, Durable Good, GDP Final, Retail and Wholesale Inventories, Presidential Debate
    • Fri. Core PCE M over M final. Chicago PMI
    • USDA grains stocks and planted acreage Friday, June 28th

 

 

 

Futures 101 :

 

Order Flow has been presented as a mystique to potential Traders as well as seasoned Traders. In many cases it is assumed to be an insanely difficult concept to understand. Order Flow is, at its core, the transaction between a Buyer and a Seller. As a Veteran Trader using Order Flow to base my decisions, I can say that order flow is the very core of any market.
In this FREE booklet, you will learn:
  • What is order flow?
  • Volume by Price
  • Footprint
  • Time & Sales
  • DOM
  • Tying it all together

 

 

  • Hot Market of the Week – December Corn

Hot market of the week is provided by QT Market Center, A Swiss army knife charting package that’s not just for Hedgers, Cooperatives and Farmers alike but also for Spread traders, Swing traders and shorter time frame application for intraday traders with a unique proprietary indicator that can be applied to your specific trading needs.
December Corn
December corn has resumed its break with a new recent low. The chart is now taking aim at its second downside PriceCount objective to the $4.49 area. Meanwhile, the trade below the March reactionary low formally negated the remaining unmet upside counts.
PriceCounts – Not about where we’ve been , but where we might be going next!
The PriceCount study is a tool that can help to project the distance of a move in price. The counts are not intended to be an ‘exact’ science but rather offer a target area for the four objectives which are based off the first leg of a move with each subsequent count having a smaller percentage of being achieved. It is normal for the chart to react by correcting or consolidating at an objective and then either resuming its move or reversing trend. Best utilized in conjunction with other technical tools, PriceCounts offer one more way to analyze charts and help to manage your positions and risk. Learn more at www.qtchartoftheday.com
Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors. Past performance of actual trades or strategies is not necessarily indicative of future results.
Market Scanner
If you are a day trader, below you will see markets that our proprietary ALGO has identified as being more suitable for attacking either from the long side or the short side for the next trading session.

   Broker’s Trading System of the Week

With algorithmic trading systems becoming more prevalent in portfolio diversification, the following system has been selected as the broker’s choice for this month.
Mini Nasdaq AV1_ E-mini Nasdaq NQ
PRODUCT

NQ – Mini Nasdaq

SYSTEM TYPE
Swing
Recommended Cannon Trading Starting Capital
$50,000
COST
USD 55 / monthly

The performance shown above is hypothetical in that the chart represents returns in a model account. The model account rises or falls by the average single contract profit and loss achieved by clients trading actual money pursuant to the listed system’s trading signals on the appropriate dates (client fills), or if no actual client profit or loss available – by the hypothetical single contract profit and loss of trades generated by the system’s trading signals on that day in real time (real‐time) less slippage, or if no real time profit or loss available – by the hypothetical single contract profit and loss of trades generated by running the system logic backwards on back adjusted data. Please read full disclaimer HERE.
Would you like to receive daily support & resistance levels?
Yes
No

Daily Levels for June 24th 2024

Trading Reports for Next Week

First Notice (FN), Last trading (LT) Days for the Week:

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

* 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 judgement in trading.


Trading Tips Worth Repeating & Level 6.18.2024

June 17th, 2024 Filed under Commodity Brokers, Commodity Trading, Day Trading, Economic Trading, Future Trading News, Futures Broker, Futures Trading, futures trading education | Comment (0)

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Listen to our Market Recap Podcasts on Apple Podcasts

 

 

A few Tips worth repeating as we go head on into the summer months

By John Thorpe, Senior Broker

 

From time to time I am asked by my clients for a viewpoint that is separate from the application of technical indicators to overcome some of their perceived, faulty analysis.

 

Without restructuring anyone’s methodology, I think it fair that a self-assessment applying some common biases that will easily reveal weaknesses in their trade and risk management selection process be applied to your decision making process.

If you practice exposing these biases during your trading decision process and write down in your journal when they occur with the net result of the trades, you can quickly tighten up your game plan.

 

It takes 21 days to create a habit according to Steven R. Covey in his  best seller “Seven Habits of Highly Effective People”

 

Technical analysis is not a flawless science and it can be prone to various biases.

 

I will try to make this brief; however, this topic requires a much deeper dive. Here is a list of some common biases.

1 Confirmation Bias-Preconceived notions about a market/ Actively seek out other technical signals.

2 Regency Bias-ignoring long term trends/ don’t rest your analysis simply on price action in shorter time frames.

3 Anchoring Bias-fixate on Price and refuse to adjust.

4 Availability Bias-rely too heavily on recent news.

5 Gamblers Fallacy- traders believe the past events increase the likelihood of future events. / eval trade independently.

6 Emotional Bias Fear, Greed clouds judgement.

Plan your trade and trade your plan

 

 

If you are a day trader, below you will see markets that our proprietary ALGO has identified as being more suitable for attacking either from the long side or the short side for the next trading session.

Questions? We are happy to help!

 

 

Daily Levels for June 18th, 2024

Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

* 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 judgement in trading.


Weekly Newsletter: FREE ebook: Day Trading Futures: The Essentials, Juneteenth Trading Schedule & Levels 6.17.2024

June 14th, 2024 Filed under Commodity Brokers, Commodity Trading, Day Trading, E-Mini Futures, Future Trading News, Future Trading Platform, Futures Trading, futures trading education, Index Futures, Indices, S&P 500, Weekly Newsletter | Comment (0)

Get Real Time updates and more by joining our Private Facebook Group!
Subscribe to our YouTube Channel

Cannon Futures Weekly Letter Issue # 1198

In this issue:
  •  Important Notices – Rollover, Juneteenth
  • Futures 101 – Unlock the Secrets of Day Trading Futures
  • Hot Market of the Week – July Hogs
  • Market Scanner – For Monday June 17th
  • Broker’s Trading System of the Week – Mini Nasdaq Swing Trading System
  • Trading Levels for Next Week
  • Trading Reports for Next Week

 

Important Notices – Next Week Highlights:

  • Juneteenth is this Wednesday, June 19th. Modified trading schedule.
  • Rollover is here! Start trading September mini SP, mini NQ, Micros etc.
  • Heavy Private Sector/Consumer Data: Tues: Retail Sales, Wed: Housing market Index, Thur: Bldg Permits, Housing Starts, Jobless Claims, Philly Fed, Fri PMI Flash, Existing Home Sales.
  • Heavy Fed Speakers:  7 Count ’em! , Mon: Cook,  Tues. Collins, Kuglar, Logan, Muselem, Goolsbee,   Thu. Barkin
  • Light Earnings: ACCenture PLC is the highest Cap stock reporting and it’s pre market open on Thursday.

 

 

Watch video below on how to rollover if you are a stock index trader on our E-Futures Platform!

How to roll over Chart and DOM on E-Futures

 

Futures 101 :

Are you ready to take your trading skills to the next level? At Cannon Trading, we’re excited to offer you a powerful resource designed to help you master the art of day trading futures.
Inside this comprehensive guide, you’ll discover:
Table of Contents (12 Chapters)
  • 1. Introduction to Day Trading Futures
  • What is Day Trading?
  • Overview of Futures Contracts
  • Why Trade Futures?
  • 2. Getting Started with Day Trading Futures
  • Education and Research
  • Choosing a Reliable Futures Broker
  • Creating a Trading Plan
  • Practicing with Simulated Trading
  • 3. Essential Tools and Platforms
  • Trading Platforms
  • Charting Software
  • News and Data Feeds
  • Advanced Trading Tools
  • 4. Technical Analysis for Day Trading Futures
  • Understanding Price Charts
  • Key Technical Indicators
  • Patterns and Trends
  • Using Technical Analysis for Entry and Exit Points
  • 5. Day Trading Strategies
  • Scalping
  • Momentum Trading
  • Breakout Trading
  • Mean Reversion
  • News-Based Trading
  • 6. Risk and Money Management
  • Importance of Risk Management
  • Position Sizing
  • Setting Stop-Loss Orders
  • Managing Leverage
  • 7. Psychological Aspects of Day Trading
  • Emotional Control
  • Developing Discipline
  • Overcoming Fear and Greed
  • Building a Winning Mindset
  • 8. Advanced Techniques and Concepts
  • Order Flow Analysis
  • Volume Profile
  • Market Profile (TPO)
  • High-Frequency Trading (HFT)
  • 9. Case Studies and Examples
  • Real-Life Trading Scenarios
  • Successful Day Trading Examples
  • Common Mistakes and How to Avoid Them
  • 10.Continuous Improvement and Adaptation
  • Reviewing and Analyzing Trades
  • Keeping Up with Market Changes
  • Ongoing Education and Development
  • 11.Conclusion
  • Summary of Key Points
  • Final Advice for Aspiring Day Traders
  • Resources for Further Learning
  • 12.Twenty-Five Essential Indicators for Day Trading Futures
  • 13. Index of Futures Trading Resources
  • 14.Disclaimer

 

 

  • Hot Market of the Week – July Hogs

Hot market of the week is provided by QT Market Center, A Swiss army knife charting package that’s not just for Hedgers, Cooperatives and Farmers alike but also for Spread traders, Swing traders and shorter time frame application for intraday traders with a unique proprietary indicator that can be applied to your specific trading needs.
July Hogs
July hogs resumed their break to a new low where the chart satisfied its second downside PriceCount objective, just above the contract low. At this point, IF the chart can erase the contract low and sustain further weakness, the third count would project a possible slide to the 81.23 area.
PriceCounts – Not about where we’ve been , but where we might be going next!
The PriceCount study is a tool that can help to project the distance of a move in price. The counts are not intended to be an ‘exact’ science but rather offer a target area for the four objectives which are based off the first leg of a move with each subsequent count having a smaller percentage of being achieved. It is normal for the chart to react by correcting or consolidating at an objective and then either resuming its move or reversing trend. Best utilized in conjunction with other technical tools, PriceCounts offer one more way to analyze charts and help to manage your positions and risk. Learn more at www.qtchartoftheday.com
Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors. Past performance of actual trades or strategies is not necessarily indicative of future results.
Market Scanner
If you are a day trader, below you will see markets that our proprietary ALGO has identified as being more suitable for attacking either from the long side or the short side for the next trading session.

   Broker’s Trading System of the Week

With algorithmic trading systems becoming more prevalent in portfolio diversification, the following system has been selected as the broker’s choice for this month.

Swing61B Cont v.22 _ E-mini Nasdaq NQ

PRODUCT

NQ – Mini Nasdaq

SYSTEM TYPE
Swing
Recommended Cannon Trading Starting Capital
$35,000
COST
USD 160 / monthly

The performance shown above is hypothetical in that the chart represents returns in a model account. The model account rises or falls by the average single contract profit and loss achieved by clients trading actual money pursuant to the listed system’s trading signals on the appropriate dates (client fills), or if no actual client profit or loss available – by the hypothetical single contract profit and loss of trades generated by the system’s trading signals on that day in real time (real‐time) less slippage, or if no real time profit or loss available – by the hypothetical single contract profit and loss of trades generated by running the system logic backwards on back adjusted data. Please read full disclaimer HERE.
Would you like to receive daily support & resistance levels?
Yes
No

Daily Levels for June 17th 2024

Trading Reports for Next Week

First Notice (FN), Last trading (LT) Days for the Week:

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

* 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 judgement in trading.


Fed Policy Holds Steady Amidst Economic Indicators

June 12th, 2024 Filed under Commodity Brokers, Commodity Trading, Economic Trading, Future Trading News, Futures Broker, Futures Trading, futures trading education, Index Futures, Indices, Nasdaq, S&P 500, Trading Guide | Comment (0)

Get Real Time updates and more by joining our Private Facebook Group!
Subscribe to our YouTube Channel
Listen to our Market Recap Podcasts on Apple Podcasts

 

 

Bullet Points, Highlights, Announcements

 

 

General: 

 

It’s looking like it’s going to be a slog of a summer for Fed policy as officials once again took a wait-and-see approach as the Federal Reserve left interest rates unchanged in their June decision.

 

Based on the most recent economic data – including this morning’s lower-than-expected Consumer Price Index

reading – the central bank predicted it would cut borrowing costs just once before the end of 2024, a sign that they plan to be patient before turning a corner in their fight against inflation.

 

Powell suggested any change in policy will depend on inflation slowing, but that rate cuts could also come if the job market breaks down unexpectedly.

 

The consumer price index held flat in May though it increased 3.3% from a year ago. Both numbers were 0.1 percentage point below market expectations.

 

Next up tomorrow at 7:30 A.M., Central Time, the Bureau of Labor Statistics releases its latest reading on prices at the wholesale level: its Producer Price Index.

 

Stock Indexes:

 

The E-mini S&P 500 jumped to a record and closed above 5,400 for the first time Wednesday after May inflation data pointed to easing pricing pressures and the Federal Reserve’s latest policy announcement.

 

The E-mini Nasdaq gained about 1.5%. Both the S&P 500 and Nasdaq hit all-time intraday highs and closed at all-time record highs today.

 

 

If you are a day trader, below you will see markets that our proprietary ALGO has identified as being more suitable for attacking either from the long side or the short side for the next trading session.

Questions? We are happy to help!

 

 

 

Daily Levels for June 13th, 2024

Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

* 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 judgement in trading.


FOMC Tomorrow and CPI: Strategies for Trading Amidst Volatility

June 11th, 2024 Filed under Commodity Brokers, Commodity Trading, Day Trading, Economic Trading, Future Trading News, Futures Broker, Futures Trading, futures trading education, Trading Guide | Comment (0)

Get Real Time updates and more by joining our Private Facebook Group!
Subscribe to our YouTube Channel
Listen to our Market Recap Podcasts on Apple Podcasts

 

 

FOMC and CPI Tomorrow!

CPI will be first and the last 10 CPI or so reports have been pretty volatile with large moves happening as soon as the numbers come out. Be careful of “vacuum”, lack of liquidity for few seconds when the report comes out.

 

Once the report settles, cash stocks open we will have the energy numbers and then a couple of hours before FOMC rate decision…

FOMC Rate decision tomorrow.

The following are my PERSONAL OPINION on trading during FOMC days:

 

·    ·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 5325.00 with a stop at 5319.00, instead “stretch the price bands” due to volatility and place an entry order to buy at 5319.75 and place a stop a few points below in this hypothetical example ( consider current volatility along with support and resistance levels).

 

·    Expect the higher volatility during and right after the announcement

 

·    Expect to see some “vacuum” ( low volume, big zigzags) right before the number.

·    Consider using automated stops and limits attached to your entry order as the market can move very fast at times.

·    Know what the market was expecting, learn what came out and observe market reaction for clues

·    The rate announcement comes out exactly at 1 PM central. As of this morning there is a 99.1% chance of no change in rates.

 

·    Traders will pay EXTRA attention to the language and the Q&A which starts at 1:30 PM Central

 

·    Be patient and be disciplined

 

·    If in doubt, stay out!!

 

 

If you are a day trader, below you will see markets that our proprietary ALGO has identified as being more suitable for attacking either from the long side or the short side for the next trading session.

Questions? We are happy to help!

 

 

 

Daily Levels for June 12th, 2024

Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)

Improve Your Trading Skills

Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.

Explore trading methods. Register Here

* 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 judgement in trading.

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  • Using range Bars for Day-Trading
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  • How to Use Support & Resistance Levels
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