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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8 Steps to Day Trading Futures 5.23.2017

Posted on by Ilan

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8 Steps

My name is Ilan Levy-Mayer and I am the Vice President and Senior Futures Broker at Cannon Trading.

I came up with the following personal observations after serving online traders worldwide for more than 18 years.

The following steps are guides to progress, and are not necessarily in sequential order. Some of them are always required, but each futures trader is different and will relate to these stages in their own ways. While attempting to learn and progress, one must keep in mind that futures trading is risky and can involve significant losses. Continue reading “8 Steps to Day Trading Futures 5.23.2017”

Read what our futures clients say about us!! 5.18.2018

Posted on by Ilan

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 I think and I hope that what we saw today is the start of a change in market environment and volatility BUT we need to see it for more than one day….If this is the case and REGARDLESS, you need a solid broker in your corner!

Cannon Trading takes pride in the service, technology and pricing we provide our clients.

We know that one size DOES NOT fit all when it comes to trading.

We offer a wide variety of services, ranging from deep discount trading ( we are able to provide some of the lowest commissions in the industry for volume traders), broker assist, online support, trading systems and custom services based on your specific needs.

Read what our clients say about us

and contact us with any questions, request for quotes, trading inquiry and more!

Continue reading “Read what our futures clients say about us!! 5.18.2018”

Trading levels for Tuesday May 16th 2017

Posted on by Ilan

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

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Lately I have heard from more than a few clients and prospects that “stock index futures are just not what they used to be….” – very true!

Between QE of the last few years, regulations, the shrinking of the hedge fund population and more….stock index futures volatility and personality have changed. I am pretty certain that volatility will return but…when and in what form is anyone’s guess.

In between…there are other markets that are suitable for day trading in my opinion. Bonds, crude oil, gold, natural gas, some of the grains, some currencies….Observe some of these markets in simulated environment if you never traded them. Take notes, get a feel for their behavior. It might be time to diversify your daytrading portfolio with other markets except the mini SP 500…..

If you need help, want feedback please feel free to contact us.

Continue reading “Trading levels for Tuesday May 16th 2017”

Trading Systems Updates and Rankings 5.12.2017

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,

TRADE SMART / TRADE SYSTEMS — for the current rankings as well as actual performance  of trading systems traded at Cannon Trading, click here.

Cannon Trading Co., Inc. is registered with the CFTC and a member of the NFA.

Continue reading “Trading Systems Updates and Rankings 5.12.2017”

Ranking Market Events 5.11.2017

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,

Ranking 30 Futures Market Moving EventsWhere do I look and when do I pay attention?

By:  Cannon Trading

Every trader has done it. You’ve done it, your friends have done it, even your broker has done it at one point early in their career.

Here’s the scenario:

You’ve finally finished your futures education at Cannon Trading Company. You’ve done you’re homework on stops, limits, indicators and price movements for the market you’re trading. You’re ready to go, you enter your limit order and you wait.

**DING**

You get filled. Your heart rate picks up, a wry smile crosses your face and you begin to imagine the possibilities of the one trade you’re in: How much can I make? How much can I lose before it’s too much? You’ve waited through months of technical trading and deep meditation to get here, and now it’s finally paying off with one of your first trades in the live market. Sayonara paper trading; aloha live futures.

Then, all of a sudden, the top of the hour hits and the market starts acting up. It’s getting more volatile and more volatile; it’s picking up speed and taking an unforgiving turn against you. You can’t think straight,

Read full article

Continue reading “Ranking Market Events 5.11.2017”

Futures Auto Trading Systems 5.10.2017

Posted on by Ilan

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Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp  

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

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Dear Traders,

Take a look at one of our auto trading systems we have here at Cannon. This one trades the mini SP 500 as a daytrading system. We have more than a few clients who are currently trading this system and will be happy to answer any questions!

You can get started with this automated trading system with as little as $5,000 once you discuss different aspects with your account executive including the different risks of trading in general and systems in specific.

Continue reading “Futures Auto Trading Systems 5.10.2017”

Futures Trading Levels & Economic Reports 5.05.2017

Posted on by Ilan

Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.

Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp  

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

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FOMC is behind us once again….and The French election is ahead this weekend and non farm payroll Report is tomorrow (Friday morning).

The French election takes place while markets are closed on the weekend and we may see some large GAP moves on Sunday night as well as extreme volatility Sunday night and into the rest of the week. Continue reading “Futures Trading Levels & Economic Reports 5.05.2017”

FOMC Tomorrow 5.03.2017

Posted on by Ilan

Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.

Like us on FacebookFollow us on TwitterView our profile on LinkedInFind us on Google+Cannon Trading Futures Trading Resistance & Support Levels and Economic ReportsFind us on Yelp  

____________________________________________________________________

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

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FOMC decision tomorrow. Below is my “usual FOMC advice….”

The FOMC interest rate decision is due at 2:15 ET in the US tomorrow.

FOMC days have different characteristics than other trading days. If you have traded for a while, check your trading notes from past FOMC days that may help you prepare for tomorrow.

if you are a newcomer, take a more conservative approach and make sure you understand that the news can really move the market.

The following are suggestions on trading during FOMC days:

  • Reduce trading size
  • Be extra picky = no trade is better than a bad trade
  • Choose entry points wisely. Look at longer time frame support and resistance for entry. Take the approach of entering at points where you normally would have placed protective stops. Example, trader x looking to go long the mini SP at 2365.00 with a stop at 2359.00, instead “stretch the price bands” due to volatility and place an entry order to buy at 2359.75 and place a stop a few points below in this hypothetical example.
  • Expect the higher volatility during and right after the announcement
  • Expect to see some “vacuum” ( low volume, big zigzags) right before the number.
  • Consider using automated stops and limits attached to your entry order as the market can move very fast at times.
  • Know what the market was expecting, learn what came out and observe market reaction for clues
  • Be patient and be disciplined
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.