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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Technical Analysis Videos & Support & Resistance Levels 7.20.2018

Posted on by Ilan

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Dear Traders,

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Trading 102: Educational Trading Videos

by: Cannon Trading Brokers
Cannon Trading is happy to share with you a few videos focusing on trading techniques, ideas and tools you can add to your trading arsenal. In this week’s newsletter we are sharing the following 3 videos, about 5 minutes each, ready for immediate viewing on the following topics:
1. Identifying Support And Resistance Using A Line Chart.
2. Finding Levels of Support Resistance
3. Day Trading crude oil futures using fear and greed….

 

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.

Futures Trading Levels

07-20-2018

 

Contract September 2018  SP500 #ES_F Nasdaq100  #NQ_F Dow Jones  #YM_F Mini Russell #RTY_F BitCoin Index #XBT_F
Resistance 3 2833.00 7459.17 25342 1733.20 7776.97
Resistance 2 2825.50 7437.58 25276 1720.20 7643.94
Resistance 1 2815.25 7397.92 25167 1713.00 7549.82
Pivot 2807.75 7376.33 25101 1700.00 7416.79
Support 1 2797.50 7336.67 24992 1692.80 7322.67
Support 2 2790.00 7315.08 24926 1679.80 7189.64
Support 3 2779.75 7275.42 24817 1672.60 7095.52
Contract August Gold #GC_F Sept. Silver #SI-F Sept. Crude Oil #CL-F Sept.  Bonds  #ZB_F Sept.  Euro #6E_F
Resistance 3 1249.9 15.95 71.14 146 29/32 1.1839
Resistance 2 1239.7 15.77 69.96 146  8/32 1.1784
Resistance 1 1231.0 15.55 68.97 145 25/32 1.1734
Pivot 1220.8 15.37 67.79 145  4/32 1.1678
Support 1 1212.1 15.14 66.80 144 21/32 1.1628
Support 2 1201.9 14.96 65.62 144 1.1573
Support 3 1193.2 14.74 64.63 143 17/32 1.1523
Contract Dec.  Corn #ZC_F Sept. Wheat #ZW_F Nov. Beans #ZS_F Dec. SoyMeal #ZM_F Aug. Nat Gas #NG_F
Resistance 3 373.3 519.1 875.50 332.20 2.87
Resistance 2 369.7 512.4 869.00 329.90 2.82
Resistance 1 367.3 508.3 865.25 328.00 2.80
Pivot 363.7 501.7 858.75 325.70 2.75
Support 1 361.3 497.6 855.0 323.8 2.7
Support 2 357.7 490.9 848.50 321.50 2.68
Support 3 355.3 486.8 844.75 319.60 2.65

Economic Reports, source: 

http://app.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.

Short insight to trading psychology & Support & Resistance Levels 7.18.2018

Posted on by Ilan

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Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

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Dear Traders,

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How I like to day-(trade) by Ilan Levy-Mayer, VP
Often I get asked the question above: How do you trade (day trade)?
The answer includes a few different way as i either assist clients with their trading, trade on behalf of clients or design some automated trading systems to do the trading on my behalf.
First and most important to understand is that we are brokers first and traders second. Our job is to assist our clients, if it is a simple customer service topic with online traders or advice and execution to broker assisted and full service futures traders, we will stay focused on your needs.
I don’t have the desire to actively day-trade or be glued to the screen as I feel it will hinder my job as a broker.
With that in mind I personally use the following strategies/ methods in which I mostly assist clients with and for some execute trades on their behalf:
1. End of day swing trading
2. Weekly analysis for options trades
3. “Structured intraday set ups” that are easy to monitor and implement during the day
4. Automated trading.
1. End of day swing trading: This is done via analysis of the markets at the end of the day and using the daily chart as my main source of technical analysis. I use studies and indicators I have created over the years along with support and resistance levels. I scan a list of about 20 different futures markets and I look for certain conditions that are one of two, either a signal that market is extremely overbought/oversold with good potential to reverse OR conditions that try to predict a short to medium term trend is developing. I will then look for what I call “price confirmation” and will normally try to enter with a STOP order once a certain level is broken. Once in a trade I have initial stop and initial target that I place as GTC orders.
I will then do my best to ONLY update these orders on end of day basis.
2. Weekly options trades: I like to run a scan of 20 liquid markets and look for certain signals that suggest the market is in a trend based on the WEEKLY chart. Based on that I will recommend either options spreads to sell/ write and collect premium OR at certain times, I may recommend buying options or options spreads.
The thought behind SELLING option spreads/premium is that as long as the market does 3 of 4 scenarios, i should be able to collect and keep most of the premium. Example: If my ALGO says gold is in a downtrend on the weekly chart and I choose ( with client) to sell vertical call spread, the trade should succeed as long as gold did one of the following: confirmed signal and continued lower, traded range bound, went higher but not in a strong magnitude. As long as gold in this hypothetical example did NOT make a sharp violent move up, i would keep the premium collected as the options will expire worthless. Of course there is more to that and time value, specific strikes, values of the options GREEKS and more come into play but this is why you have access to a professional series 3 broker, so you can discuss and ask the right questions.
3. “Structured intraday set ups” For this I like to use the Edge Newsletter by ExitPoints.com. More on that as well as a free trial here.
 4. Automated trading: We have access to quite a few trading systems created by different professionals from around the world including a few I created myself. You as a client or potential client can browse quite a few of these systems and select your criteria: day trading versus swing trading, certain markets you prefer, required capital criteria and much more! you can then browse results and see which results are backtested, which are forward tested and which ones are LIVE trading results. You can start browsing right this second…..
The above is just a brief summary of some of the methods/concepts my colleagues and I like to use. Each broker has their own preferred methods. Some will lean towards seasonal spreads, other towards longer term trend following and more.
Feel free to reach out and fill out your trader’s profile at any time.

 

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.

Futures Trading Levels

07-18-2018

 

Contract September 2018  SP500 #ES_F Nasdaq100  #NQ_F Dow Jones  #YM_F Mini Russell #RTY_F BitCoin Index #XBT_F
Resistance 3 2832.42 7489.42 25341 1714.07 7843.89
Resistance 2 2825.33 7463.58 25269 1704.63 7713.03
Resistance 1 2820.92 7433.17 25225 1698.97 7539.68
Pivot 2813.83 7407.33 25153 1689.53 7408.82
Support 1 2809.42 7376.92 25109 1683.87 7235.47
Support 2 2802.33 7351.08 25037 1674.43 7104.61
Support 3 2797.92 7320.67 24993 1668.77 6931.26
Contract August Gold #GC_F Sept. Silver #SI-F Sept. Crude Oil #CL-F Sept.  Bonds  #ZB_F Sept.  Euro #6E_F
Resistance 3 1239.1 15.87 70.01 145 24/32 1.1786
Resistance 2 1234.1 15.75 68.95 145 17/32 1.1752
Resistance 1 1230.9 15.66 68.40 145  4/32 1.1722
Pivot 1225.9 15.53 67.34 144 29/32 1.1688
Support 1 1222.7 15.44 66.79 144 16/32 1.1658
Support 2 1217.7 15.32 65.73 144  9/32 1.1624
Support 3 1214.5 15.23 65.18 143 28/32 1.1594
Contract Dec.  Corn #ZC_F Sept. Wheat #ZW_F Nov. Beans #ZS_F Dec. SoyMeal #ZM_F Aug. Nat Gas #NG_F
Resistance 3 365.9 509.3 874.50 333.93 2.78
Resistance 2 364.3 506.2 868.25 331.87 2.77
Resistance 1 362.7 500.3 863.00 328.73 2.75
Pivot 361.1 497.2 856.75 326.67 2.74
Support 1 359.4 491.3 851.5 323.5 2.7
Support 2 357.8 488.2 845.25 321.47 2.70
Support 3 356.2 482.3 840.00 318.33 2.68

Economic Reports, source: 

http://app.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.

Selling Commodity Options & Support Resistance Levels 7.18.2018

Posted on by Ilan

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Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

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Dear Traders,

Like us on Facebook!
The following is an excellent short read from From our friend Don A. Singletary at  https://www.timefarming.com/

Selling Commodity Options: The Disposition Effect & Trading Psychology

In selling commodity options* or any other type of trading, the disposition effect is the tendency for an investor to take profits too quickly while holding on longer to losing trades.  And holding the losers too long is just another way of saying the trader reverts to hope as a strategy.  This disposition effect is like a trader volunteering for a slow and painful disappearance of funds.  Behavioral studies suggest that the two most influential factors in making trading decisions are genetics and experiences. Oddly, some of the things that are good in life can work against us when trading.
As children, most of us are taught and even encouraged to be hopeful, optimistic, and not to dwell too long on the negative.  Unfortunately, this training can be fatal if adapted into your investment strategy.  Persistence is not a binary trait for humans that we turn either “on” or “off.”  Almost every trader has had the experience of projecting their own hope and persistence on to a losing position.  Our persistence is one end of a sliding scale with something very similar to stupidity at the other end of the spectrum.  Furthermore – almost all of us are too quick to blame ourselves when a trade goes bad –  though most often the circumstances to blame are beyond our control.  To cut losses at a reasonable point often requires us to immediately suspend all hope and optimism, while at the same time having to admit our trade, in spite of our best efforts – just isn’t working. I must learn to fight only the battles I can easily win.  If you can’t learn to exit trades properly without taking it personally, you will get ping-ponged between fear and greed while you are losing your money.  This is both painful and very expensive.
Don A. Singletary is an author of financial articles and books and an educator, After a 25 years as a corporate commodity hedge consultant & corporate trainer specializing in commodity options in risk management plans, he now produces educational corporate and personal training material.
This former broadcaster, writer, and broker – now publishes a newsletter dedicated exclusively to selling commodity options.
* Selling “naked options” involves unlimited risk.
**Seasonal Disclaimer: There are usually underlying fundamental circumstances that occur annually that tend to cause the futures markets to react in a similar directional manner during a certain calendar period of the year. Even if a seasonal tendency occurs in the future, it may not result in a profitable transaction as fees and the timing of the entry and liquidation may impact on the results. No representation is being made that any account h as in the past or will in the future achieve profits utilizing these strategies. No representation is being made that that price patterns will recur in the future.

 

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.

Futures Trading Levels

07-18-2018

 

Contract September 2018  SP500 #ES_F Nasdaq100  #NQ_F Dow Jones  #YM_F Mini Russell #RTY_F BitCoin Index #XBT_F
Resistance 3 2847.42 7618.00 25340 1711.37 8443.69
Resistance 2 2831.58 7527.00 25241 1703.33 7955.12
Resistance 1 2821.42 7474.50 25170 1696.37 7634.31
Pivot 2805.58 7383.50 25071 1688.33 7145.74
Support 1 2795.42 7331.00 25000 1681.37 6824.93
Support 2 2779.58 7240.00 24901 1673.33 6336.36
Support 3 2769.42 7187.50 24830 1666.37 6015.55
Contract August Gold #GC_F Sept. Silver #SI-F Aug. Crude Oil #CL-F Sept.  Bonds  #ZB_F Sept.  Euro #6E_F
Resistance 3 1259.4 16.14 70.05 145 22/32 1.1872
Resistance 2 1252.2 16.01 69.25 145 17/32 1.1835
Resistance 1 1240.2 15.81 68.64 145  9/32 1.1776
Pivot 1233.0 15.69 67.84 145  4/32 1.1738
Support 1 1221.0 15.49 67.23 144 28/32 1.1679
Support 2 1213.8 15.36 66.43 144 23/32 1.1642
Support 3 1201.8 15.16 65.82 144 15/32 1.1583
Contract Dec.  Corn #ZC_F Sept. Wheat #ZW_F Nov. Beans #ZS_F Dec. SoyMeal #ZM_F Aug. Nat Gas #NG_F
Resistance 3 366.6 514.6 875.08 336.30 2.83
Resistance 2 364.4 509.4 867.42 334.00 2.81
Resistance 1 362.1 503.6 861.33 330.60 2.78
Pivot 359.9 498.4 853.67 328.30 2.75
Support 1 357.6 492.6 847.6 324.9 2.7
Support 2 355.4 487.4 839.92 322.60 2.70
Support 3 353.1 481.6 833.83 319.20 2.66

Economic Reports, source: 

http://app.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.

Trader’s Profile & Support & Resistance Levels 7.17.2018

Posted on by Ilan

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Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

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Dear Traders,

Like us on Facebook!
If you are reading this blog and currently NOT a client of Cannon, I encourage you to visit our Trader’s Profile page, fill out the short form and this way allow one of our series 3 professionals reach out you and share some resources we think may be of help in terms of Trading education, platforms to choose from, commissions and much more!
Why a “Trader’s Profile?”

Not all traders have the same needs. Not all platforms fit all traders. Some clients look to actively day-trade, others may need advanced spreading capabilities while others may need advanced charting or sophisticated order entry. Cannon Trading has one of the WIDEST selections of trading platforms available.
By filling out the trader profile or chatting with one of our experienced brokers we can suggest a trading engine to suit your needs.

 

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.

Futures Trading Levels

07-17-2018

 

Contract September 2018  SP500 #ES_F Nasdaq100  #NQ_F Dow Jones  #YM_F Mini Russell #RTY_F BitCoin Index #XBT_F
Resistance 3 2822.00 7455.08 25231 1715.17 7533.47
Resistance 2 2815.50 7434.42 25161 1705.33 7122.37
Resistance 1 2808.00 7404.33 25103 1694.07 6898.14
Pivot 2801.50 7383.67 25033 1684.23 6487.04
Support 1 2794.00 7353.58 24975 1672.97 6262.81
Support 2 2787.50 7332.92 24905 1663.13 5851.71
Support 3 2780.00 7302.83 24847 1651.87 5627.48
Contract August Gold #GC_F Sept. Silver #SI-F Aug. Crude Oil #CL-F Sept.  Bonds  #ZB_F Sept.  Euro #6E_F
Resistance 3 1252.7 16.02 73.40 146 25/32 1.1836
Resistance 2 1249.3 15.96 72.13 146  8/32 1.1808
Resistance 1 1245.2 15.89 70.11 145 24/32 1.1786
Pivot 1241.8 15.83 68.84 145  7/32 1.1758
Support 1 1237.7 15.75 66.82 144 23/32 1.1736
Support 2 1234.3 15.69 65.55 144  6/32 1.1708
Support 3 1230.2 15.62 63.53 143 22/32 1.1686
Contract Dec.  Corn #ZC_F Sept. Wheat #ZW_F Nov. Beans #ZS_F Dec. SoyMeal #ZM_F Aug. Nat Gas #NG_F
Resistance 3 363.6 507.5 876.00 341.67 2.83
Resistance 2 361.4 503.0 865.25 336.43 2.80
Resistance 1 358.3 495.8 855.50 331.97 2.78
Pivot 356.2 491.3 844.75 326.73 2.76
Support 1 353.1 484.0 835.0 322.3 2.7
Support 2 350.9 479.5 824.25 317.03 2.72
Support 3 347.8 472.3 814.50 312.57 2.70

Economic Reports, source: 

http://app.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.

Top Systems & Support & Resistance Levels 7.13.2018

Posted on by Ilan

____________________________________________________________________

Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

____________________________________________________________________

Dear Traders,

Like us on Facebook!
Check out top performing trading systems, actual results:
As always, we are here to assist and answer any questions via email, phone or chat!

 

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.

Futures Trading Levels

07-13-2018

 

Contract September 2018  SP500 #ES_F Nasdaq100  #NQ_F Dow Jones  #YM_F Mini Russell #RTY_F BitCoin Index #XBT_F
Resistance 3 2835.50 7567.50 25234 1715.97 6571.06
Resistance 2 2818.25 7477.25 25081 1706.93 6478.52
Resistance 1 2808.25 7430.00 24987 1699.67 6326.24
Pivot 2791.00 7339.75 24834 1690.63 6233.70
Support 1 2781.00 7292.50 24740 1683.37 6081.42
Support 2 2763.75 7202.25 24587 1674.33 5988.88
Support 3 2753.75 7155.00 24493 1667.07 5836.60
Contract August Gold #GC_F Sept. Silver #SI-F Aug. Crude Oil #CL-F Sept.  Bonds  #ZB_F Sept.  Euro #6E_F
Resistance 3 1257.5 16.32 73.31 145 31/32 1.1797
Resistance 2 1253.1 16.17 72.27 145 23/32 1.1774
Resistance 1 1250.1 16.07 71.30 145 17/32 1.1750
Pivot 1245.7 15.93 70.26 145  9/32 1.1727
Support 1 1242.7 15.83 69.29 145  3/32 1.1704
Support 2 1238.3 15.68 68.25 144 27/32 1.1681
Support 3 1235.3 15.58 67.28 144 21/32 1.1657
Contract Dec.  Corn #ZC_F Sept. Wheat #ZW_F Nov. Beans #ZS_F Dec. SoyMeal #ZM_F Aug. Nat Gas #NG_F
Resistance 3 377.9 506.5 875.08 339.27 2.86
Resistance 2 370.6 497.5 865.42 334.83 2.84
Resistance 1 364.9 491.0 857.33 331.27 2.82
Pivot 357.6 482.0 847.67 326.83 2.80
Support 1 351.9 475.5 839.6 323.3 2.8
Support 2 344.6 466.5 829.92 318.83 2.77
Support 3 338.9 460.0 821.83 315.27 2.74

Economic Reports, source: 

http://app.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.

Why I like to use STOPS & Support & Resistance Levels 7.12.2018

Posted on by Ilan

____________________________________________________________________

Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

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Dear Traders,

Like us on Facebook!
Today’s market actions on a few different levels lead me to writing this and sharing a few thoughts about why I personally believe a trader should use stops.*
A couple of events took place today:
The first were the large moves in the energy sector including the very popular crude oil contract.
Crude oil had a range of $4.24 from high to low. That translates to $4240 of a  loss if you were unlucky to buy the high and sell the low…..Not sure why the CME overnight margin for this market is still ONLY $3200 but if you traded futures before you can see where I am going with this. You could have had enough margin to carry long position overnight and find yourself in deficit if you (or the risk manager/your broker) did not take you out of the position in time.
The other meaningful event was that the CME had connection issues across many FCM’s, and routing connections which lead to a situation where certain traders were not able to get out of a position via their trading software (I am proud to say that the majority of our clients had the ability to call us and get help via phone). Its not a good feeling to say the least, to feel that you are “stuck” in the market. However, in this specific case, if you had stops already working on the exchange, you at least had that level of protection.
The moral of the story? Learn to use stops each time you trade. You can get away 9 times (luck, deep pockets etc.) but all it takes is that one time where either your trading capital or luck runs out to destroy your trading account.
As always, we are here to assist and answer any questions via email, phone or chat!
* Note about stops: THE PLACEMENT OF CONTINGENT ORDERS BY YOU OR YOUR TRADING ADVISOR, SUCH AS A ”STOP-LOSS”OR ”STOP-LIMIT” ORDER, WILL NOT NECESSARILY LIMIT YOUR LOSSES TO THE INTENDED AMOUNTS, SINCE MARKET CONDITIONS MAY MAKE IT IMPOSSIBLE TO EXECUTE SUCH ORDERS.

 

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.

Futures Trading Levels

07-12-2018

 

Contract September 2018  SP500 #ES_F Nasdaq100  #NQ_F Dow Jones  #YM_F Mini Russell #RTY_F BitCoin Index #XBT_F
Resistance 3 2808.42 7382.00 24986 1717.17 6532.06
Resistance 2 2798.08 7336.00 24896 1709.63 6464.69
Resistance 1 2786.42 7296.50 24792 1698.67 6409.88
Pivot 2776.08 7250.50 24702 1691.13 6342.51
Support 1 2764.42 7211.00 24598 1680.17 6287.70
Support 2 2754.08 7165.00 24508 1672.63 6220.33
Support 3 2742.42 7125.50 24404 1661.67 6165.52
Contract August Gold #GC_F Sept. Silver #SI-F Aug. Crude Oil #CL-F Sept.  Bonds  #ZB_F Sept.  Euro #6E_F
Resistance 3 1267.7 16.33 77.39 146 15/32 1.1885
Resistance 2 1262.5 16.22 75.83 146  3/32 1.1851
Resistance 1 1252.5 16.02 73.15 145 26/32 1.1791
Pivot 1247.3 15.91 71.59 145 14/32 1.1757
Support 1 1237.3 15.72 68.91 145  5/32 1.1697
Support 2 1232.1 15.61 67.35 144 25/32 1.1663
Support 3 1222.1 15.41 64.67 144 16/32 1.1603
Contract Dec.  Corn #ZC_F Sept. Wheat #ZW_F Nov. Beans #ZS_F Dec. SoyMeal #ZM_F Aug. Nat Gas #NG_F
Resistance 3 366.0 503.3 873.00 334.67 2.90
Resistance 2 363.3 496.8 867.75 332.83 2.86
Resistance 1 358.3 484.3 858.00 330.27 2.84
Pivot 355.5 477.8 852.75 328.43 2.81
Support 1 350.5 465.3 843.0 325.9 2.8
Support 2 347.8 458.8 837.75 324.03 2.76
Support 3 342.8 446.3 828.00 321.47 2.74

Economic Reports, source: 

http://app.bettertrader.co 

afdbc0fb 8116 4b4b 845d b81a557ba954

 

 

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.

Different Markets for Day Trading & Support & Resistance Levels 7.11.2018

Posted on by Ilan

____________________________________________________________________

Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

____________________________________________________________________

Dear Traders,

Like us on Facebook!
Different Markets, Different Trading Environments

 

Each market has different personality, different behavior along with different times of the day when it is most active. If you are finding that the ES ( mini SP) is not giving you enough risk/opportunities then start monitoring a couple of other markets and perhaps explore them in demo / simulated mode.
There are more than a few markets I think are suitable for day-trading. Below you will find some observations, tips along with what is unique about these markets, personality and most active trading hours.
To read my notes about markets such as bonds, crude oil, gold, currencies and more, please 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.

Futures Trading Levels

07-11-2018

Contract September 2018  SP500 #ES_F Nasdaq100  #NQ_F Dow Jones  #YM_F Mini Russell #RTY_F BitCoin Index #XBT_F
Resistance 3 2812.75 7394.00 25155 1737.27 7005.13
Resistance 2 2805.25 7364.75 25046 1726.13 6858.39
Resistance 1 2801.25 7334.50 24986 1713.87 6621.51
Pivot 2793.75 7305.25 24877 1702.73 6474.77
Support 1 2789.75 7275.00 24817 1690.47 6237.89
Support 2 2782.25 7245.75 24708 1679.33 6091.15
Support 3 2778.25 7215.50 24648 1667.07 5854.27
Contract August Gold #GC_F Sept. Silver #SI-F Aug. Crude Oil #CL-F Sept.  Bonds  #ZB_F Sept.  Euro #6E_F
Resistance 3 1275.5 16.51 75.69 145 17/32 1.1908
Resistance 2 1268.3 16.36 75.19 145 13/32 1.1865
Resistance 1 1262.2 16.23 74.64 145  7/32 1.1835
Pivot 1255.0 16.08 74.14 145  3/32 1.1792
Support 1 1248.9 15.95 73.59 144 29/32 1.1762
Support 2 1241.7 15.80 73.09 144 25/32 1.1719
Support 3 1235.6 15.67 72.54 144 19/32 1.1689
Contract Dec.  Corn #ZC_F Sept. Wheat #ZW_F Nov. Beans #ZS_F Dec. SoyMeal #ZM_F Aug. Nat Gas #NG_F
Resistance 3 372.4 510.3 893.00 345.10 2.87
Resistance 2 368.6 505.0 887.00 339.50 2.85
Resistance 1 364.7 498.5 879.25 334.90 2.82
Pivot 360.8 493.3 873.25 329.30 2.80
Support 1 356.9 486.8 865.5 324.7 2.8
Support 2 353.1 481.5 859.50 319.10 2.75
Support 3 349.2 475.0 851.75 314.50 2.71

Economic Reports, source: 

http://app.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.

Trade War Trade Options + Support & Resistance Levels 7.10.2018

Posted on by Ilan

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Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

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Dear Traders,

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Trade war Trade Options

In the 2016  presidential election, Donald Trump’s two main issues were immigration and unfair trade practices. Immigration has continued to be a hot issue since President Trump was inaugurated in January of 2017. The Perdue-Cotton bill arguing on behalf of favoring skilled workers as immigrants led the news for a while.
The Deferred Action for Childhood Arrivals (DACA) fix that looked like it was going to sail through before it was derailed is yet another example. Lastly, the border wall has been a constant source of debate. It does appear to be all talk, however. Congress only appropriated only $1.6 billion for the construction of the wall.
The issue of unfair trade practices seemed to be dead in the water. Trump’s economic team’s history was cool to the idea of tariffs. Every time the President brought up the subject they were able to diffuse the subject. Peter Navarro, a trade war champion, was able to circumvent the President’s economic team and get Trump’s ear. On March 8, 2018, Trump announced a 10% tariff on imported aluminum and a 25% tariff on imported steel. This was good for steel and aluminum producers but not so great for the manufacturers who used steel and aluminum.
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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.

Futures Trading Levels

07-10-2018

Contract September 2018  SP500 #ES_F Nasdaq100  #NQ_F Dow Jones  #YM_F Mini Russell #RTY_F BitCoin Index #XBT_F
Resistance 3 2818.58 7374.67 25218 1720.23 7144.62
Resistance 2 2802.42 7334.08 25004 1714.47 6954.73
Resistance 1 2794.08 7313.42 24882 1711.53 6831.96
Pivot 2777.92 7272.83 24668 1705.77 6642.07
Support 1 2769.58 7252.17 24546 1702.83 6519.30
Support 2 2753.42 7211.58 24332 1697.07 6329.41
Support 3 2745.08 7190.92 24210 1694.13 6206.64
Contract August Gold #GC_F Sept. Silver #SI-F Aug. Crude Oil #CL-F Sept.  Bonds  #ZB_F Sept.  Euro #6E_F
Resistance 3 1276.8 16.47 75.87 146 13/32 1.1900
Resistance 2 1271.8 16.36 75.07 146  5/32 1.1876
Resistance 1 1265.6 16.26 74.58 145 20/32 1.1842
Pivot 1260.6 16.16 73.78 145 12/32 1.1817
Support 1 1254.4 16.06 73.29 144 27/32 1.1783
Support 2 1249.4 15.95 72.49 144 19/32 1.1759
Support 3 1243.2 15.85 72.00 144  2/32 1.1725
Contract Dec.  Corn #ZC_F Sept. Wheat #ZW_F Nov. Beans #ZS_F Dec. SoyMeal #ZM_F Aug. Nat Gas #NG_F
Resistance 3 374.9 519.2 900.58 347.00 2.91
Resistance 2 371.8 515.3 892.67 342.20 2.89
Resistance 1 369.4 511.7 882.33 335.00 2.86
Pivot 366.3 507.8 874.42 330.20 2.84
Support 1 363.9 504.2 864.1 323.0 2.8
Support 2 360.8 500.3 856.17 318.20 2.79
Support 3 358.4 496.7 845.83 311.00 2.76

Economic Reports, source: 

http://app.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.

Learning to Accept Losses + Support & Resistance Levels 7.06.2018

Posted on by Ilan

____________________________________________________________________

Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

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Dear Traders,

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One of the Most Important ( and often overlooked….) Aspects of Day Trading – Learn to Accept Losses
By: Ilan Levy-Mayer, Cannon Trading Commodities Broker & VP
I am frequently asked, (and many times I ask myself) about the keys to trading success in general and futures trading in specific. The list is long and, to be honest, it is not an exact science
Successful trading is a mix of art and math, personality and discipline and much more in between. also be honest, I have seen many different ways to make money in the futures and commodities world. I saw and still see clients trade and make money.
To read the remaining article please 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.

Futures Trading Levels

07-06-2018

Contract September 2018  SP500 #ES_F Nasdaq100  #NQ_F Dow Jones  #YM_F Mini Russell #RTY_F BitCoin Index #XBT_F
Resistance 3 2776.67 7273.17 24675 1713.10 6897.17
Resistance 2 2758.08 7200.08 24520 1699.20 6796.36
Resistance 1 2747.92 7161.17 24425 1691.80 6648.72
Pivot 2729.33 7088.08 24270 1677.90 6547.91
Support 1 2719.17 7049.17 24175 1670.50 6400.27
Support 2 2700.58 6976.08 24020 1656.60 6299.46
Support 3 2690.42 6937.17 23925 1649.20 6151.82
Contract August Gold #GC_F Sept. Silver #SI-F Aug. Crude Oil #CL-F Sept.  Bonds  #ZB_F Sept.  Euro #6E_F
Resistance 3 1272.8 16.41 76.79 146 24/32 1.1884
Resistance 2 1267.6 16.30 75.84 146  8/32 1.1833
Resistance 1 1262.6 16.19 74.42 145 29/32 1.1793
Pivot 1257.4 16.08 73.47 145 13/32 1.1742
Support 1 1252.4 15.96 72.05 145  2/32 1.1702
Support 2 1247.2 15.85 71.10 144 18/32 1.1651
Support 3 1242.2 15.74 69.68 144  7/32 1.1611
Contract Dec.  Corn #ZC_F Sept. Wheat #ZW_F Nov. Beans #ZS_F Dec. SoyMeal #ZM_F Aug. Nat Gas #NG_F
Resistance 3 376.3 522.5 876.17 331.53 2.95
Resistance 2 373.2 515.5 871.58 329.77 2.92
Resistance 1 368.8 510.5 863.67 326.83 2.88
Pivot 365.7 503.5 859.08 325.07 2.85
Support 1 361.3 498.5 851.2 322.1 2.8
Support 2 358.2 491.5 846.58 320.37 2.78
Support 3 353.8 486.5 838.67 317.43 2.73

Economic Reports, source: 

https://www.forexfactory.com

Date 3:07pm Currency Impact Detail Actual Forecast Previous Graph
FriJul 6  2:00am EUR
German Industrial Production m/m
 0.3% -1.0%
2:45am EUR
French Trade Balance
 -5.1B -5.0B
3:30am GBP
Halifax HPI m/m
 0.3% 1.5%
4:00am EUR
Italian Retail Sales m/m
 0.4% -0.7%
8:30am USD
Average Hourly Earnings m/m
 0.3% 0.3%
USD
Non-Farm Employment Change
 195K 223K
USD
Unemployment Rate
 3.8% 3.8%
USD
Trade Balance
 -43.6B -46.2B
10:30am USD
Natural Gas Storage
 76B 66B

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 Futures Spreads + Support & Resistance Levels 7.03.2018

Posted on by Ilan

____________________________________________________________________

Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

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Dear Traders,

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Trading Futures Spreads – Basic But Important Strategy
By: Mark O’Brien, Cannon Trading Commodities Broker

Over my 20+ year career as a commodities broker, I have studied and traded a wide range of approaches to trading the futures markets.  From candlestick formations to the commodity channel index, from condors to turtle trading, there’s an enormous catalog of tools and methods available for traders to consider.

 One method I have noticed is surprisingly underrepresented among retail traders is futures spread trading, where a single position in the market consists of the simultaneous purchase of one futures contract and sale of a related futures contract as a unit.  I call it surprising because some of the most invested players in futures trading – and arguably the most sophisticated – include large speculators and commercial firms who regularly employ spreads.  This includes traders in the markets who often actually buy and sell the physical commodities we trade.  Farmers, ranchers and other food growers along with food producers, petroleum companies who either drill for oil or natural gas or refine these products – or both, financial institutions with enormous holdings in treasuries, equities or currencies, mining interests and their buyers – all these areas of production and distribution employ spreads from time to time as an important aspect of their businesses.  Indeed, spread trading is a fundamental and essential part of the commodities futures markets.
To read the remaining article on Trading Futures Spreads please 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.

Futures Trading Levels

07-03-2018

Contract September 2018  SP500 #ES_F Nasdaq100  #NQ_F Dow Jones  #YM_F Mini Russell #RTY_F BitCoin Index #XBT_F
Resistance 3 2767.50 7294.42 24697 1694.87 7815.06
Resistance 2 2748.00 7206.83 24510 1677.33 7242.59
Resistance 1 2737.50 7162.67 24399 1668.37 6932.17
Pivot 2718.00 7075.08 24212 1650.83 6359.70
Support 1 2707.50 7030.92 24101 1641.87 6049.28
Support 2 2688.00 6943.33 23914 1624.33 5476.81
Support 3 2677.50 6899.17 23803 1615.37 5166.39
Contract August Gold #GC_F Sept. Silver #SI-F Aug. Crude Oil #CL-F Sept.  Bonds  #ZB_F Sept.  Euro #6E_F
Resistance 3 1266.5 16.49 76.51 145 30/32 1.1827
Resistance 2 1261.1 16.34 75.43 145 21/32 1.1788
Resistance 1 1251.5 16.11 74.67 145  7/32 1.1735
Pivot 1246.1 15.96 73.59 144 30/32 1.1695
Support 1 1236.5 15.73 72.83 144 16/32 1.1642
Support 2 1231.1 15.58 71.75 144  7/32 1.1603
Support 3 1221.5 15.35 70.99 143 25/32 1.1550
Contract Dec.  Corn #ZC_F Sept. Wheat #ZW_F Nov. Beans #ZS_F Dec. SoyMeal #ZM_F Aug. Nat Gas #NG_F
Resistance 3 377.6 521.7 895.92 338.90 2.98
Resistance 2 373.7 513.1 889.33 335.80 2.96
Resistance 1 366.3 496.7 879.42 331.70 2.91
Pivot 362.4 488.1 872.83 328.60 2.88
Support 1 355.1 471.7 862.9 324.5 2.8
Support 2 351.2 463.1 856.33 321.40 2.81
Support 3 343.8 446.7 846.42 317.30 2.76

Economic Reports, source: 

https://www.forexfactory.com

Date 3:32pm Currency Impact Detail Actual Forecast Previous Graph
MonJul 2 3:15am EUR
Spanish Manufacturing PMI
 53.4 53.6 53.4
3:45am EUR
Italian Manufacturing PMI
 53.3 52.6 52.7
3:50am EUR
French Final Manufacturing PMI
 52.5 53.1 53.1
3:55am EUR
German Final Manufacturing PMI
 55.9 55.9 55.9
4:00am EUR
Final Manufacturing PMI
 54.9 55.0 55.0
EUR
Italian Monthly Unemployment Rate
 10.7% 11.1% 11.0%
4:30am GBP
Manufacturing PMI
 54.4 54.1 54.3
5:00am EUR
Unemployment Rate
 8.4% 8.5% 8.4%
9:45am USD
Final Manufacturing PMI
 55.4 54.6 54.6
10:00am USD
ISM Manufacturing PMI
 60.2 58.2 58.7
USD
Construction Spending m/m
 0.4% 0.5% 0.9%
USD
ISM Manufacturing Prices
 76.8 74.3 79.5

 

 

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.