Gold Futures Archives - Support & Resistance Levels

Gold Futures

Category Archives: Gold Futures


Weekly Newsletter – Trading Resources and more! 12.05.2022

December 2nd, 2022 Filed under Charts & Indicators, Future Trading News, Futures Broker, Gold Futures, Index Futures, Indices, Metal Futures | Comment (0)

Cannon Futures Weekly Newsletter Issue # 1124

 

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In this issue:
  • Trading Resource of the Week
  • Hot Market of the Week
  • Broker’s Trading System of the Week
  • Trading Levels for Next Week
  • Trading Reports for Next Week

 

  • Trading Resource of the Week

If you traded recently while Powell was speaking, perhaps during a CPI report or even more so as NFP (non farm payrolls) numbers come out – YOU KNOW HOW IMPORTANT THESE NEWS ITEMS ARE!!
TRADETHENEWS.COM IS A SERVICE WHICH PROVIDES BREAKING NEWS VIA AUDIO AND TEXT. INSIGHT INTO HOW THE MARKET IS REACTING AND MANY OTHER VALUABLE TOOLS!
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Trade The News is not backed by any trading firm.
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that allow analysts to back check news instantly to prevent errors.

  • Hot Market of the Week – Feb Gold

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.
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.
  • 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.
PRODUCT
SYSTEM TYPE
Intraday
Recommended Cannon Trading Starting Capital
$10,000
COST
USD 175 / 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.
Sign Up for a Free Personalized Consultation with a Broker from Cannon Trading Company
Questions about the markets? trading? platforms? technology? trading systems? Get answers with a complimentary, confidential consultation with a Cannon Trading Company series 3 broker.

 

  • Trading Levels for Next Week

Daily Levels for December 5th

Weekly Levels

 

 

  • Trading Reports for Next Week

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

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 herein 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


Trading levels for 11.30.2022, Reports & More!

November 29th, 2022 Filed under Day Trading, Financial Futures, Future Trading News, Gold Futures, Metal Futures | Comment (0)

Get Real Time updates and more on our private FB group!

Start trading March grains, March silver, March bonds and other interest rates, February gold. First notice day is Wednesday.

Tomorrow is also the last trading day of the month – busy day with different reports and Fed’s Powell speaking..

A Cannon broker will be able to assist, provide feedback and answer any questions.

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

for 11-30-2022

#goldfutures #sp500futures #crudeoilfutures # nasdaqfutures #dowfutures #futurestrading #futuresbrokers

SP500 #ES_FNasdaq100  #NQ_FDow Jones  #YM_FMini Russell #RTY_FBitCoin Index #BRTI SP500 Dec. Gold #GC_F Dec. Silver #SI_F Oct. Crude Oil #CL-F Dec. Bonds  #ZB_F Dec. 10 yr  #ZN_F Dec. Corn #ZC_F Dec.  Wheat #ZW_F Nov. Beans #ZS_F Dec. SoyMeal #ZM_F Oct. Nat Gas #NG_F Dec. Coffee #KC_F Dec. Cocoa #CC_F October Sugar #SB_F Dec. Cotton #CT_F Sept.  Euro Currency

 

Economic Reports, Source: 

Forexfactory.com

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.


Gold Looking For Attention + Trading levels for 11.15.2022

November 14th, 2022 Filed under Charts & Indicators, Commodity Brokers, Commodity Trading, Future Trading News, Gold Futures, Metal Futures | Comment (0)

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PPI final this week!

Gold may again be on the March.

By John Thorpe, Senior Broker

Recently we have had a bit of a breakout in the spot gold contract prices traded through our platforms and the CME/Nymex. The contract is a 100 troy oz deliverable contract GCZ22. There are also , smaller sized contracts, Micro’s MGCZ22 10 troy ounces and Mini’s QOZ22 50 troy ounces Financially settled.  These contracts offer not only a great day trading tool but also a wonderful way to control an interest in a tangible asset class. Much has been, currently is and will continue to be written about Gold as a hedge during times of uncertainty. How prices will move as an effect of whatever the cause will always be open for debate.

From Executive order 6102 signed in 1933, President Franklin Roosevelt forbid the hoarding of gold coin, bullion and certificates to the initiation of the gold standard from the 1944 Bretton Woods agreement, to Nixon’s “temporary” suspension of the dollar’s convertibility into gold in 1972, Global Governmental policy has often interceded in the convertibility of the U.S. Dollar and the value of gold in the past 100 + years. Wherever the price of gold has been or where it is currently headed, there is no doubt that it remains a valuable asset class of it’s own so it does bear to watch the price closely as it appears to be breaking from a long slumber.  In the short run I see Dec 22 and Feb 23 gold prices needing to test lower levels around 1738 1744 respectively, before this market, if a breakout is in the cards, will develop into a true upside breakout and in fact, will test multi year highs. Personally, I believe the fundamentals aren’t quite right for a big move from here, but the technical indicators certainly are screaming “look at me”, for now I will watch and wait.

 

Daily chart for your review below.

Plan your trade and trade your plan.

#GC; Daily Gold Futures Chart

Daily Gold Futures Chart

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

for 11-15-2022

#goldfutures #sp500futures #crudeoilfutures # nasdaqfutures #dowfutures #futurestrading #futuresbrokers

SP500 #ES_FNasdaq100  #NQ_FDow Jones  #YM_FMini Russell #RTY_FBitCoin Index #BRTI SP500 Dec. Gold #GC_F Dec. Silver #SI_F Oct. Crude Oil #CL-F Dec. Bonds  #ZB_F Dec. 10 yr  #ZN_F Dec. Corn #ZC_F Dec.  Wheat #ZW_F Nov. Beans #ZS_F Dec. SoyMeal #ZM_F Oct. Nat Gas #NG_F Dec. Coffee #KC_F Dec. Cocoa #CC_F October Sugar #SB_F Dec. Cotton #CT_F Sept.  Euro Currency

 

Economic Reports, Source: 

Forexfactory.com

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.


How to Trade “Consolidation Patterns” + Futures Trading Levels 6.28.2022

June 27th, 2022 Filed under Future Trading News, Gold Futures, Metal Futures | Comment (0)

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How to Trade “Consolidation Patterns”

By John Thorpe, Senior Broker
There are a number of consolidation patterns: sideways ranges(rectangles), upward or downward sloping patterns or “flags” , triangular or Pennants. Today I have found on the Continuous Daily Comex Gold chart to illustrate, several recent rectangle consolidation patterns. One recent rectangular consolidation with a false breakout followed by a confirmed breakout and one that is currently forming. A Consolidation rectangle pattern has clearly defined ranges defined by highs and lows that can be connected drawing horizontal lines.
Continuous Daily Comex Gold chart
The above chart reflects just this. There are three points of interest outside the two rectangles, on the first one from March to April there is an upside break out but on light volume, Rule #1. Breakouts must occur on a closing basis on heavier than normal volume. You should not trade the breakout move on lighter volume. #2 wait for a retest of the previous resistance or support line. You will notice the high volume day after the breakout was on a failure of the retest. Good for you! a win, you didn’t fall for the breakout.
And #3, On April 29 had you worked a sell GTC limit order at or around the retest level of 1917,1918,1919.00 (which you could have placed as early as April 25th) you would be short the breakout . Soon after, a new consolidation zone is created and we are still currently inside. You can see two bars outside the consolidation but NOT on a closing basis.
In Summary, look for one of these patterns which are some of the most common, Look for a high volume breakout and don’t get in until the market retests the previous support or resistance area, and try to manage your stop loss orders within the old consolidation areas!!
Important: Trading commodity futures and options involves a substantial risk of loss.
The recommendations contained in this letter are of opinion only and do not guarantee any profits.
Past performances are not necessarily indicative of future result

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

06-28-2022

 

Futures Support & Resistance Levels 6.28.2022

 

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Economic Reports, Source: 

Forexfactory.com

 

 

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.


Inflation & the Markets + Futures Support and Resistance Levels 5.10.2022

May 9th, 2022 Filed under Future Trading News, Gold Futures | Comment (0)

Get Real Time updates and more on our private FB group!

Inflation & the Commodity Markets

by John Thorpe, Senior Broker
There are a number of characterizations of inflation in the business press and social media some related to the speed of inflation as in Creeping Inflation or Moderate inflation even hyper inflation and may be used as adequate adjectives, but these don’t describe what the causes of inflation are of which there can be many.
This Wednesday , CPI or the Consumer Price Index will be published at 8:30 am EDT an often quoted measure of Inflation but not the one the FRB uses to guide interest rate decisions, they choose to focus on the PCE or the Personal Consumption Expenditures Price Index. The Market will focus on both. If you recall last month the CPI showed the largest monthly advance in 42 years. The consensus from Econoday.com is for an 8.1 % Rate, with a much smaller incremental increase than the previous tally. Heading into that number Gold prices had been rallying for 3 successive days and experienced a 20 dollar rally continuing the move and added an additional 2 days of inertia before the peak on April 18th and subsequent sell-off , nearly a month later the Gold market seemingly is telling us that the consensus for CPI will be correct as reflected in weaker gold prices. If you watch the gold market watch the reaction to CPI on Wednesday morning. If CPI is Higher than the consensus and gold rally’s and holds those gains into the 1:30 pm EDT zone, then the recent lows in my view are in.
As for the causes of inflation, today we are in what economists call Demand – Pull inflation. This is when the aggregate demand for goods and services in an economy exceeds the aggregate supply. This concept is associated with full employment when adjusting the supply of goods and services is either not possible, or difficult to achieve in a timely manner. Always have a plan to manage the risk in your trades before you employ your strategy, Plan your trade and Trade your plan
 If you have any questions please contact your broker!
Click on chart below for LARGER IMAGE – Gold Daily Chart
Gold Futures Daily Chart

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

05-10-2022

Futures Support and Resistance Levels 5.10.2022

 

 

Improve Your Trading Skills

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


Economic Reports, Source: 

Forexfactory.com

ForexFactory.com 5.10.2022

 

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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