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.

Crude Oil Leading Many Markets? & Support and Resistance Levels 10.06.2021

Dear Traders,

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Crude Oil Leading Many Markets?

I was doing some homework last night, back testing different entry signals etc.
By mistake I plugged in a system that takes crude oil signals and applies it to the current market I was testing – Seems that these past 2 years or so, signals taken based on crude oil were more accurate ( using this specific trend following formula I was using) than signals based on the underlying contract!! To clarify I am testing longer term model using the DAILY chart.
Cotton, Coffee, Corn, beans, Gold and SP500 all did better based on price action/ signals using crude oil prices than their own data!!
Obviously this requires more in depth work, statistical analysis and forward testing but I thought it was interesting enough to share with you and give you some ideas perhaps even something to look into on intra day basis?
Speaking on crude pay attention to inventory report tomorrow.

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

10-06-2021

Support and Resistance Levels 10.06.2021

Economic Reports, source: 

 www.BetterTrader.co

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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 as well as options on futures.

Natural Gas, Crude Oil, Stocks and Rates, Support & Resistance Levels 10.05.2021

Dear Traders,

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Natural Gas, Crude Oil, Stocks and Rates
They all work together with a strong relationship. At times with direct correlation, at times with inverse correlation.
Do some homework, overlay some charts, look for clues that can help you while trading and provide even the smallest edge.
Natural gas, Crude oil have been on a bullish stretch lately. See a weekly chart of Natural gas below.
Other commodities like cotton and oats are also experiencing strong bull runs – is this due to in inflation? Supply chain fears? New “COVID world” environment?
Current levels to watch for on the major markets mentioned above:
Nov. Natural Gas:
Pivot 5.72
Support 5.14
Resistance 6.80
Nov. Crude Oil:
Pivot 74.72
Support 74.02
Resistance 79.25
Dec. 30 year bonds:
Pivot 161.12
Support 158.22
Resistance 164.02
Dec. Mini SP500:
Pivot 4437.00
Support 4251.00
Resistance 4540.00
Natural Gas Weekly Chart Cannon Trading

Futures Trading Levels

10-05-2021

Support & Resistance Levels 10.05.2021
Did you know?
Cannon offers over 10 TRADING PLATFORMS CLICK HERE for a demo

Economic Reports, source: 

 www.BetterTrader.co

Better Trader Report 10.05.2021

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 as well as options on futures.

Weekly Newsletter 1069: 25 Strategies for Trading Options + Levels for the Trading Week 10.04.2021

Cannon Futures Weekly Letter Issue # 1069

Dear Traders,

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25 Strategies For Trading Options
Learn about the 25 Proven Strategies for trading options on CME Group Futures for FREE!
If you are currently trading options on futures or are interested in exploring them further, check out our newly updated trading guide, featuring 25 commonly used options strategies, including butterflies, straddles, strangles, backspread and conversions. Each strategy includes an illustration demonstrating the effect of time decay on the total option premium involved in the position.
Options on futures rank among our most versatile risk management tools, and are offered on most of our products. Whether you trade options for purposes of hedging or speculating, you can limit your risk to the amount you paid up-front for the option while maintaining your exposure to beneficial price movements. To learn more about CME Group options, you can also visit our Options page.

Trading 101: Free Course – An Introduction to Crude Oil

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

10-04.2021

10.04.2021 Support & Resistance Levels

 

Weekly Levels

10.04.2021 Weekly Support & Resistance Levels

 

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

https://mrci.com

Date Reports/Expiration Notice Dates

Better Trader Report 10.04.2021

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

First Trading Day for October, Big Movement & Support and Resistance Levels 10.01.2021

Dear Traders,

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First Trading Day for October

We saw some serious moves both directions today, sometimes very fast.
Nervous market? Perhaps last trading day of the quarter?
Not sure but being aware that market psych and behavior is now different than 3 weeks ago is important as one needs to adjust.
Wishing all of you a great trading month in October and success and health in all you do.

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

10-01-2021

Futures Support and Resistance Levels 9.30.2021

Economic Reports, source: 

 www.BetterTrader.co

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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 as well as options on futures.

Pay Attention to Energy Futures & Support and Resistance Levels 9.29.2021

Dear Traders,

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Pay Attention to Energy Futures

(There’s More to Trading Than the S&P 500, Nasdaq and Dow Jones)
By Mark O’Brien, Senior Broker
Every country in the world depends on energy. For some, energy production is the backbone of their economies. Energy products as a percentage of all that a country exports can be as high as 90% or more. Kuwait, Libia and Iraq are notable examples. For others, energy is a scarce resource within their borders making it necessary to import it. Countries like South Korea, Ireland and Japan import over 80% of their needed energy. Governments, multinational corporations, international consortiums (think OPEC) often vigorously compete for control of energy production and distribution – and the revenue that comes from them. Energy resources have literally fueled wars for their control. Without doubt, oil, its refined products and natural gas are among the world’s most valued commodities.
Not surprisingly, energy futures contracts like crude oil, heating oil, unleaded gas and natural gas are some of the largest futures contracts in the world by volume. The CME Group’s NYMEX Exchange offers trading on some of the energy sector’s benchmark products, including West Texas Intermediate (WTI) Crude, Henry Hub Natural Gas, Brent Crude and RBOB Gasoline.
Like stock index futures, energy futures trade 23 hours a day (5:00 P.M. – 4:00 P.M., Central Time), Sunday through Friday. Both crude oil and natural gas offer mini contracts and crude oil even offers a micro contract.
If you’re trading is solely focused on stock indexes, think about adding energy futures to your watch list and expanding your trading power (pun intended) with energy futures contracts.

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

9-30-2021

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Economic Reports, source: 

 www.BetterTrader.co

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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 as well as options on futures.

iSystems – Let the ALGOs do the Heavy Lifting & Support and Resistance Levels 9.29.2021

Dear Traders,

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iSystems – Let the ALGOs do the heavy lifting

iSystems is a trading platform that allows you the investor/trader to browse and view performance from over 1500 professionally designed systems.
You can browse statistics, performance, logic and much more.
A series 3 professional broker is here to assist you if you would like to evaluate any specific systems and even better how to create a diversified portfolio based on your risk profile and capital.
The capital requirements for each Algo range from just $3000.00 and up.
You can choose between day trading Algos and swing trading Algos and much more….
Our brokers are more than happy to discuss diff. systems with you, risks, opportunities, risk tolerance and much more and try to assist you.
Some clients like to have some automated systems in addition to their self directed account, some clients prefer to only utilize automated systems as they don’t have the time or desire to trade on their own.
Futures trading is complex and carries the risk of substantial losses. It is not suitable for all investors. The ability to withstand losses and to adhere to a particular trading program in spite of trading losses are material points which can adversely affect investor returns.
Read full disclaimer by clicking here

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

9-29-2021

Futures Trading Support and Resistance Levels 9.29.2021

Economic Reports, source: 

 www.BetterTrader.co

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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 as well as options on futures.

Are Inter Commodity Spreads Right for You? & Support and Resistance Levels 9.28.2021

Dear Traders,

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Are Inter Commodity Spreads Right for you?

By John Thorpe, Senior broker
Used alone as a strategy or as a hedge over the weekend or longer..
You can still hold volatile positions at reduced margins by employing exchange recognized spreads.
You can trade similar products but from different sides of the ledger, long vs short
Example, Corn vs Wheat ratio 2:1
Notes vs Bonds, Ratio 2:1
Index futures vs each other 1:1
Some traders use these as stand alone strategies, others use them as hedges to straddle a time period, perhaps you don’t want full exposure during an important report but still like your entry price on one leg.
If this is the case you may offset a part of the risk with a different but similar product and receive a margin break for reducing your overall risk.
 Inter Spreads are calculated as a percentage of Credit off the top of the full outright margin of the products that make up the legs of the spread.
NQ Mini Nasdaq 100 vs. YM Mini Dow with a ratio of 1:1 – 55% Inter rate
Outright rates
NQ 17,000    YM 9,000
17,000+9.000= 26,000 outright margin before SPAN inter spread credit is applied
With the inter spread credit applied to each leg of the spread, there is a savings of $11,750
 ( 17,000 x .55) = 9350 + (9000 x .55) = 4950 = 14,300
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Of course, you can apply the same logic to the micro contract at 1/10th the size.
MNQ vs MYM = overnight requirement of $1430.00 rather than 1700.00 for the outright MNQ
There are hundreds if not thousands of combination based on correlated relationships that are recognized by the exchange. Please call your Broker or ,if you don’t have an account yet and would like to know more, call Cannon +1 310 859 9572 and we will be happy to spend time with you about this different way to manage your trading risk.

 

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

9-28-2021

Support and Resistance Levels 9.28.2021

Economic Reports, source: 

 www.BetterTrader.co

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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 as well as options on futures.

Weekly Newsletter 1068: Day Trading Mind Traps & Intro to Crude Oil Futures Course & Trading Levels for the Week Ahead 9.27.2021

Cannon Futures Weekly Letter Issue # 1068

Dear Traders,

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Get Real Time updates and market alerts on Twitter!

 

Day Trading Mind Traps

“One way our brain helps keep us safe is to protect us from an awareness of our weaknesses. The brain believes that it is better to be falsely confident than recognize the real risks. This protective mechanism tends to work against us in trading.” Kenneth Reid, Ph.D
MINDING THE MIND
The mind can play tricks on us. Intuitive Trading is an attempt to mind read the market, which makes us susceptible to whipsaws. Hindsight Bias causes traders to underestimate the difficulty of trading, while Competency Bias causes us to over-estimate our abilities. These are mental banana peels that set us up for a fall.
INTUITIVE TRADING
Intuitive trading is a natural response to excessive randomness and non-linearity in the market. But making informed guesses is not the same as formulating a rule-based pattern-recognition system that gives a trader a true edge. Without a rule-based plan, intuitive traders expend a great deal of energy mindreading the market, which will not improve your odds of success. In fact, professional traders make a good living exploiting the emotionally-driven behavior of intuitive amateurs.

Watch a recording of a recent webinar held with Bookmap on the topics of:

  • Order Flow
  • Where are the large orders?
  • Heat Map?
  • Tools for day-traders
  • More….
Crude Oil Futures

Trading 101: Free Course – An Introduction to Crude Oil

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

09-27-2021

Futures Trading Support and Resistance Levels 9.27.2021

 

Weekly Levels

Futures Support and Resistance Levels

 

Trading Signals for commodities

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

https://mrci.com

Date Reports/Expiration Notice Dates

Futures Economic Reports

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

Micro Bitcoin Futures

Micro Bitcoin Futures

Cryptocurrency has taken off as an encrypted alternative to real spending money, giving people more options for doing business. Bitcoin is one of the leading cryptocurrencies on the market, especially after it boomed in 2017. Nowadays, many websites accept Bitcoin payments, which has helped the cryptocurrency market grow significantly. Micro Bitcoin futures have also made a significant impact on the futures trading industry. 

Now, many brokers offer futures for Bitcoin and other types of cryptocurrency. It is easier than ever to trade shares of these types of currency, and traders of all experience levels can trade practically anytime and anywhere. 

  • Keep in mind that before you start trading Bitcoin/ Micro Bitcoin and other crypto futures you will need to acknowledge additional risk disclosures on top of the standard futures disclosures.

One of the most convenient ways for traders to get the results from cryptocurrency is by trading micro futures. Recently, the CME Group announced new Micro Bitcoin futures, which have revolutionized futures trading. Now, for 1/10 the cost of the average Bitcoin share, a trader can purchase shares of this new type of future. 

About Our Team

Cannon Trading has the tools traders need to begin trading cryptocurrency futures. We have various platforms that meet all needs, allowing traders to trade what they want when they want them. 

Our experienced brokers are here to help traders of all levels through the process. We specialize in developing innovative platforms that help traders navigate the market.

Whether a trader is part of a professional trading organization or participating in day trading, our brokers can help. We work with clients from various backgrounds, providing everything from multilingual trading services to broker-assisted trading. If a trader is interested in our services, our customer support team of qualified brokers would be happy to help.  

About Micro Bitcoin Futures

Micro Bitcoin Futures and Bitcoin Futures are both offered by CME to traders around the world. These contracts vary in size, depending on whether a client pursues a regular Bitcoin future or a Micro Bitcoin future. 

Micro Bitcoin Futures allow traders to access Bitcoin Futures for a tenth of the cost of a regular Bitcoin future. Both types of contracts make it easy to get into the Bitcoin market, allowing clients to get the most out of their trading process. 

Trading Micro Bitcoin Futures

The CME Group launched Micro Bitcoin Futures in May of 2021 and it has been a successful  contract from the start. With Bitcoin rising in prominence worldwide, it is easy to see why this type of futures contract appears to be here to stay. 

Bitcoin futures trading has been prominent since 2017 when the CME Group introduced it. Micro futures allow traders to speculate and hedge using 1/10th the size of a single coin of this iconic cryptocurrency. With Bitcoin still dominating the cryptocurrency industry, it is easy to see why many traders prefer the Micro futures over the traditional larger Bitcoin futures as the good faith deposit required is 1/10th of that of the standard Bitcoin contract.

While the new Micro Bitcoin Futures provide a value of 1/10 of a Bitcoin, these contracts are 1/50th the good faith deposit required of a traditional Bitcoin contract. This lower margin requirement allows traders to access more futures, giving them greater control of how much they can invest. 

The versatility of the market, along with the lower capital involved, helps more traders access this type of future. It is for this reason that Micro Bitcoin Futures are popular with both active traders and cryptocurrency users. 

Benefits of Micro Bitcoin Futures

There are many benefits involved in trading Micro Bitcoin Futures, which can help traders who have just started participating in the market. 

Micro Bitcoin futures allow traders to take advantage of the many benefits of Bitcoin futures without investing as much. The CME Group saw the need for a minor Bitcoin futures contract, especially since the traditional contract was worth 5 Bitcoin. 

More people could participate in cryptocurrency futures trading by creating this new, minor contract, which helped liquidity.

The institutional volume for Micro Bitcoin Futures has allowed the market to reach over a million contracts in just a short period. While this type of trading launched in the summer of 2021, it has become a popular choice, even seeming to outpace the traditional Bitcoin futures market. 

Here are just a few of the benefits traders can expect when utilizing Micro Bitcoin Futures:
  • Smaller capital investment
  • Reasonable bid offer spreads
  • Lower entry price
  • Regulated financial products
  • More accessible to more traders
  • And more

The team here at Cannon Trading can help traders understand this type future, allowing them to get the most out of their opportunities. We understand that our traders have varying needs, which has led us to develop innovative solutions and platforms to achieve them. 

Our team wants to help people get the most out of their Micro Bitcoin futures, which is why we have a dedicated group of brokers ready to assist our traders. 

We also have platforms for various needs and trading opportunities, from mobile platforms to desktop applications. Our products were designed with traders in mind, giving people the functionality to access the market. 

Impact of Micro Bitcoin Futures

While Micro Bitcoin Futures are relatively new to the market, they have made a significant impact on trading as a whole. This type of contract allows traders to explore the cryptocurrency futures market without spending as much capital as a traditional contract would require or coin in the Cash marketplace.. 

We understand that new traders may have a lot of questions regarding this type of cryptocurrency futures trading venue. There are risks involved in trading futures and even greater risks when trading Bitcoin and MICRO bitcoin futures. Our team is here to help field any questions a person might have regarding the trading process as a whole. Cannon Trading makes it easy to navigate the market, as we provide cutting-edge platforms that simplify the trading process. 

Our brokers have been assisting traders since 1988, which has allowed Cannon Trading to become a leading name in the futures trading business. We opened our online trading service in 1998, which allowed more traders than ever to participate in the market. Over 20 years later, traders have continually recognized us as one of the leading brokerage services. 

How Cannon Trading Can Help Micro Bitcoin Futures Traders  

At Cannon Trading, we have the tools traders need to make informed decisions before investing in the futures market.  

We provide access to cutting-edge software and programs that put our traders at the forefront of the industry.  

Cannon Trading’s experienced brokers can help clients learn more about oil futures, offering insight into the overall market, as well.  

We work with traders from many different backgrounds, including: 
  • Broker-assisted traders 
  • Day traders  
  • Diversified traders 
  • Institutions  
  • Professional traders 
  • And more 

Whether you’re a beginning trader or an experienced one, our brokers can help you navigate the market. We have direct experience with the market so that we can help our clients best navigate the market.  

We also provide them with the tools to make the most of markets and manage risk during volatile times. 

Contact Cannon Trading 

Our professional commodities brokers will work with you to understand your specific trading style and requirements and provide you the essential advice and information you need to thrive in this highly lucrative market. 

As an example, Cannon Trading’s Broker-assisted Trading solution provides traders new to the field with the essential advice and tools they need to accelerate their understanding of some of the mechanisms that affect prices in any futures contract market.  

Contact us today to learn more about commodities trading and information on futures options and other listed commodity contracts. 

Disclaimer 

Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involve a substantial risk of loss and are not suitable for all investors.  

Past performance is not indicative of future results. You should carefully consider whether trading is suitable for you regarding 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. 

Order Flow, Buy & Sell Zones, & Support and Resistance Levels 9.24.2021

Dear Traders,

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

Yesterday we hosted a very interesting webinar with Bookmap about order flow, buy and sell zones, liquidity of large orders and MUCH MORE.

On a personal level I really enjoyed the information as I am the type of guy who has been looking at indicators/ volume charts, range bar charts and probably many of the things that many of futures traders are used to. The data and information shared yesterday during live market hours with forward thinking analysis was very interesting to me and I will do more homework on the topic.

If you did not attend the webinar and would like to see a recording, CLICK HERE.

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

9-24-2021

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Economic Reports, source: 

 www.BetterTrader.co

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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 as well as options on futures.