Support & Resistance Levels

This Blog provides futures market outlook for different commodities and futures trading markets, mostly stock index futures, as well as support and resistance levels for Crude Oil futures, Gold futures, Euro currency and others. At times the daily trading blog will include educational information about different aspects of commodity and futures trading.

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Weekly Newsletter #1094 Tight Stops? Wide Stops?, Trading Videos & Trading Levels for the Week and Ahead

Posted on by Ilan

Cannon Futures Weekly Newsletter Issue # 1094

Dear Traders,

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Day Trading 202: Tight Stops? Wide Stops? Which One Should I Use?

Entry Signals Are Very Important But Just As Important If Not More Is Trade Management.
By: Ilan Levy-Mayer, Cannon Trading Commodities Broker & VP
This article was published on FinanceMagnates.com back a couple years ago but is definitely a timeless article.
Today I decided to touch more on an educational feature rather than provide a certain market outlook. Many of my clients and blog readers know that when it comes to short term trading I am a fan of adjusting your trading technique/ game plan according to your assessment of the type of trading day that is developing in front of you.
Many new and advanced traders spend HOURS on looking for entry signals. Back testing historical data, creating algorithms to use and much more. I know. I am one of these traders.
Trade management consists of many factors. Some are psychological and some are more mathematical and many are in between. Some of the basic elements of trade management before even entering the trade are: What will my stop loss be**? will i use a stop loss**? What will my target be? will I use a target or just trail the trade if it goes my way?

Valuable Tools & Resources for Traders:

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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

04-25-2022

Futures Support and Resistance Levels 4.25.2022

Weekly Levels

Weekly Support and Resistance Levels 4.25.2022 - 4.29.2022

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

https://mrci.com

Date Reports/Expiration Notice Dates
MRCI Reports 4.25.2022 - 4.29.2022

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 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

NQ Chart + Futures Trading Levels & Reports 4.22.2022

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

Interesting intraday action on indices, led by the NASDAQ 100 futures, the NQ or MNQ for the Micros.

Market is sitting on a short term support level as can be seen in the daily chart below.

If you are a day trader, you may want to explore using range bar or volume charts rather than minutes chart as they may help reduce noise in quiet markets and help you make decisions faster when the markets are moving faster. WATCH VIDEO HERE.

NQ chart April
NQ, mini nasdaq futures daily chart on April 21st 2022

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

04-22-2022

Trading levels for futures

 

 

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

Screenshot 2022 04 21 130736

 

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.

Bigger Picture + Futures Trading Levels & Reports 4.21.2022

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

Global Growth Uncertainty = Great Opportunity and Risk

By Mark O’Brien Senior Broker
Today the IMF stated that it expects global economic growth to slow significantly this year – from 6.1% in 2021 down to 3,6% in 2022. The war in Ukraine is the most impactful catalyst to the downturn, its effects spreading most notably to higher food and energy prices as well as disruptions in global supply chains and trade. The pandemic continues to take a toll on growth as well with China’s growth forecast downgraded in the face of that country’s latest measures to combat the latest variant spread: lockdowns imposed nationally with some encompassing entire cities. Against this backdrop, central banks around the world are grappling with decisions to tamp down inflation. IMF Managing Director Kristalina Georgleva put it succinctly: “This is the most universally complex policy environment of our lifetime.”
This is an uncertain outlook and it translates to commodities prices across nearly all asset classes. Volatility remains the theme of the markets and to restate from past blogs, great opportunity and risk are both easy to find.
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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

04-21-2022

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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

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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.

Beige book, Crude Oil Numbers & Support and Resistance Levels 4.20.2022

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

Heads up:

Front month for crude oil is June.
Grains are now ALL July.
Softs ( coffee, sugar etc.) are all July.
Tomorrow we have New Home Sales, Crude oil numbers and Beige book so I suspect to see an active market across the board.
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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

04-20-2022

 

Futures Support and Resistance Levels 4.20.2022

 

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

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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 Futures Outlook Part 2 & Support and Resistance Levels 4.19.2022

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

GOLD WATCH Part 2

By John Thorpe, Senior Broker
Last Wednesday on this Blog I highlighted the Gold market as a potential candidate to rally and has continued to.
From a technical perspective Gold Futures does look ready to test recent highs. there was clearly excitement today during the Hong Kong session and then again, follow through buying during the London session with todays high peaking at 9 a.m. NY time @2003.00 per troy ounce before retreating back during the London session to close up on the day but near the lower end of the days trading range.
IN MY OPINION, Today’s Globex session appears to tell the tale of a short term reversal as “Gravestone Doji ” inks the chart today signifying the potential to move this market back into the 1940.00 area the next few days, still staying above critical support of 1920.00 .
A correction could put us in a better position to hold longs closer to support potentially risking less of our capital.. Keep an eye on this market as it is truly ready for a large move one way or the other.
*Trading commodity futures and options involves substantial risk of loss.
The recommendations contained in this blog are of opinion only and do not guarantee any profits.
These are risky markets and only risk capital should be used. Past performance is not indicative of future results*
Gold Futures Daily Chart
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Contact us for a demo and/ or more information here!

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

04-19-2022

Support and Resistance Levels 4.18.2022

 

 

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

 

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.

Good Friday Trading Schedule & Support and Resistance Levels 4.18.2022

Posted on by Ilan
Get Real Time updates and more on our private FB group!
Wishing all of our clients and readers blessed holidays: Easter, Passover and Ramadan!
Markets are closed April 15th, Good Friday.

Good Friday Trading Schedule

Good Friday 2022 CME Trading Holiday Schedule

 

 

 

 

 

Discount Futures Broker Services

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

04-18-2022

Futures Trading Support and Resistance Levels 4.18.2022

 

Sierra Charts, Teton Order Routing

Contact us for a demo and/ or more information here!


Economic Reports, Source: 

Forexfactory.com

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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.

Predicting During Confusing Times + Good Friday Trading Schedule + Support and Resistance Levels 4.14.2022

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

Predicting in Confusing Times

By Mark O’Brien, Senior Broker
On one hand . . .
U.S. employers are adding hundreds of thousands of jobs a month – adding 431,000 jobs in March – and they would hire even more people if they could find them. U.S. initial jobless claims are at a 54-year low. Wages are rising at their fastest pace in decades.
Businesses are investing. Commerce Department data show U.S. business profits surged 35% last year, the most since 1950. In all four quarters of the year, the overall profit margin stayed above 13%, a level reached in just one other three-month period during the past 70 years.
Consumers are spending and households have trillions in savings. Indeed, the business profits mentioned above are due in large part because of strong household demand.
On the other hand . . . .
U.S. interest rates have risen materially. The average interest rate on the most popular U.S. home loan – the 30-year fixed-rate mortgage – increased to 5.13% last week, up more than 1.5% since the start of the year and the highest level since November 2018.
Strong consumer demand along with surging energy and food costs and global supply constraints have pushed U.S. inflation to a new four-decade high of 8.5% in March from the same month a year ago.
To complicate things further: global turmoil . . .
The war in Ukraine could last many more months, possibly years. The impact of Russia’s Feb. 24 invasion continues to ripple around the world.
China’s recent Covid lockdowns are putting its economy under strain and threatening once again to disrupt global supply chains.
Inflation “fever” is world-wide. India: 6.95%. Eurozone: 7.5%. U.K.: 7.0%, Brazil: 11.3% (all data for March).
These are arguably unprecedented times for futures prices. In the midst of such uncertainty, the call to manage your trades becomes even more important. The potential for price moves even more favorable and profitable than usual for your trades is very attainable. So too is the risk more pronounced. These are the conditions many traders go after.

Good Friday Trading Schedule

Good Friday 2022

Sierra Charts, Teton Order Routing
Contact us for a demo and/ or more information here!

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

04-14-2022

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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

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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 Futures Outlook & Support and Resistance Levels 4.13.2022

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

IS GOLD’S Lustrous sheen returning for investors?

By John Thorpe, Senior Broker
Stocks lower, Bonds lower, Inflation higher: Gold, after months and years of expecting the price of the metal to gain upward price momentum, the value for investors had been tarnished by the positive returns of high stock prices, Crypto dreams, property values, Gems and artwork whose own luster may now have reached a short term point of no return. The Easy to Easiest money policies over the past decade have caught up and now it’s time to pay of our economic sins. Perhaps these times, the 2022’s and beyond are the right times for investing in the precious metals. Please take a look at the Chart where you will see the importance of the 1920.00 area. It was previously the High of multi year consolidations. 5-31-2021 nearly a year removed , the lows of the past two weeks are skimming along the 50 day SMA. If you are a Steve Nison Fan you may also notice the long legged Doji on March 29th just 2 weeks ago. any long position should be protected under the 1920.00 area as part of your risk management strategy., I will be following this market throughout the summer, please check back for updates and always have an exit strategy that you can employ!
Gold Futures Daily Chart
Sierra Charts, Teton Order Routing
Contact us for a demo and/ or more information here!

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

04-13-2022

Futures Support and Resistance Levels 4.13.2022

 

 

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

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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.

Good Friday 2022 Holiday Schedule for CME / Globex and ICE Exchange

Posted on by Ilan

Good Friday 2022 Holiday Schedule for CME / Globex and ICE Exchange

 

Good Friday 2022

*Dates and times are subject to change

If you have any questions, please call the CME Global Command Center at +1 800 438 8616, in Europe at +44 800 898 013 or in Asia at +65 6532 5010

Globex® Good Friday 2022 Holiday Schedule for CME / Globex and ICE Exchange

More details at: http://www.cmegroup.com/tools-information/holiday-calendar.html 

ICE Futures Good Friday 2022 Holiday Schedule for CME / Globex and ICE Exchange

Detailed holiday hours for ICE Futures: https://www.theice.com/holiday-hours

The above sources were compiled from sources believed to be reliable. Cannon Trading assumes no responsibility for any errors or omissions.  It is meant as an alert to events that may affect trading strategies and is not necessarily complete.  The closing times for certain contracts may have been rescheduled.

Trading Videos – Indicators used for Trailing Stops & Exits? + Trading Levels & Reports for 04.12.2022

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

Curious on an indicator that can help you with EXITS? How about using a certain indicator as a trailing stop?

Watch the latest trading videos we have posted and see if you can pick a tip or two on trading smarter!

In this week’s newsletter we are sharing four videos, each a few minutes long. The videos discuss practical tips for trading and sharing our experience with you

1. Using Bolinger Bands as a possible tool for exiting trades

2. One way you can use the Parabolics study ( also known as PSAR) to manage current positions, possibly as a trailing stop

3. Different ways traders can utilize support and resistance levels in their trading.

4. Entering trades on a stop, using “price confirmation”.

5. Utilizing Range Bar charts for shorter term trading as a way to try and filter out some noise.

Watch the videos instantly by clicking here

Sierra Charts, Teton Order Routing
Contact us for a demo and/ or more information here!

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

04-12-2022

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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

b2499ab8 0041 45c5 bbcc 8aa374e26f41

 

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.

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.