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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Futures Trading Levels and Economic Reports for September 19, 2013

Posted on by Ilan

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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Thursday September 19, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

The FOMC came out and the immediate reaction was very bullish for stocks, currencies (bearish the dollar index) and bonds.

Below is a daily chart of the mini SP 500 for your review with possible targets and support levels for this rally.

EP - E Mini S&P 500, Equalized Active Daily Continuation
EP – E Mini S&P 500, Equalized Active Daily Continuation

 

Continue reading “Futures Trading Levels and Economic Reports for September 19, 2013”

Futures Trading Levels and Economic Reports for September 18, 2013

Posted on by Ilan

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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Wednesday September 18, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

The FOMC interest rate decision is due at 14:00 ET in the US tomorrow ( Wednesday, Sept. 18th).

 

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 1525.00 with a stop at 1519.00, instead “stretch the price bands” due to volatility and place an entry order to buy at 1519.75 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
  • This is another great example why a trading journal would be an asset, as you can go back and check your notes from previous FOMC days.
  • Be patient and be disciplined

 

 

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Futures Trading Levels and Economic Reports for September 17, 2013

Posted on by Ilan

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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Tuesday September 17, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

Big moves took place last night when the markets reopened in reaction to news about Syria, but by the time the markets closed today, most of the markets went back to levels from Friday session, so we are still waiting to see the actual direction for many different markets. I am sure we will see some whipsaw both ways over the next few days.

 

In the field of day-trading, my tip for today is:

 

Try to limit the amount of time you are trying to day-trade as well as try to choose the RIGHT period of time during the day to day-trade.

 

I think the more hours one spends in front of the charts trading, the higher chances one has to be prone for mistakes, frustration and more.

 

The other part is to choose the right period of time in the day for the markets you trade. Different markets have different period of times during the day when they are more active, perhaps more volatile etc.

 

This also has to coincide with your schedule and other constraints.

 

 

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Rollover+ Trading Levels & Economic Reports for Sept. 13th 2013

Posted on by Ilan

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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Friday September 13, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

December is now the front month for stock index futures. The symbol for December is Z, so if you are trading the mini SP you need to start trading ESZ3.

 

Also currencies will switch over to December as of tomorrow, make sure you are careful as currencies can be assigned delivery notice after this Monday.

 

If you have any questions, please contact your broker.

 

 

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Futures Trading Levels and Economic Reports for September 12, 2013

Posted on by Ilan

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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Thursday September 12, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

I was asked today ( and many times before…) what I think are the top two reasons so many traders lose money day-trading?
My answer was ” if I had to pick the top 2 reasons, it would be: 1. Inability to accept losses 2. Over leveraging the already leveraged futures contracts”

Each one of these topics deserves quite a bit of ink but until I expand on each and other factors I believe are contributors, I recommend reading the following:

 

https://www.cannontrading.com/tools/education-8-steps

 

 

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Webinar Invite & Futures Trading Levels and Economic Reports for September 11, 2013

Posted on by Ilan

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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Wednesday September 11, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

Remember to reserve your spot now for tomorrow’s webinar!

I will be sharing my trading screen ( one of them ) tomorrow morning ( Sept. 11th 8:15 Am Central time)  and review some of the set ups I like, different pointers I feel are worthy, the way I set up my charts, thoughts about money management and much more.
Reserve your Webinar seat now at:
https://www2.gotomeeting.com/register/638930314

 

Many of you have asked me in the past about the different indicators I sometimes share in the charts over this blog. During this screen sharing/ presentation I will go over in more details on how I like to use the indicators you see in the chart below ( in this example crude oil chart from today)

18 tick range bar crude oil chart

 

In between the stock index rally continues with the NASDAQ leading the way. Possible target levels along with support levels for your review below in the daily chart of the mini NASDAQ 100.

Emini Nasdaq daily continual, CQG chart

 

 

 

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Webinar Invite & Futures Trading Levels and Economic Reports for September 10, 2013

Posted on by Ilan

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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Tuesday September 10, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

 

Day-Trading Futures Webinar: Study Trading Set-ups, Methodology, Money Management and More!

Join us for a Webinar on September 11 8:15 AM Central Time 

 

Space is limited.
Reserve your Webinar seat now at:
https://www2.gotomeeting.com/register/638930314

 

Join us for a 90-minute LIVE trading and screen sharing, Wednesday, Sept. 11th at 8:15 A.M., Central Time.
During this presentation, Ilan Levy-Mayer, VP of Cannon Trading and Principal of LEVEX Capital Management will share with you details of his  approach to day-trading futures, he calls “Nazlan Day-Trading Model & Rules.”  For this webinar, Ilan will:

1. Explain his entry signals
2. Review trading size
3. Explain market diversification
4. Review the charts he likes to use for different markets
5. Review his proprietary ALGO’s and trade indicators
6. present exit techniques

And much more…

 

Ilan has over 15 years of experience and has observed many traders as well as assisted many clients with different approaches to trading. He will be answering your questions and sharing as much of his philosophy as time allows. If markets are willing and trade set-ups occur, Ilan will take these set-ups using a real time simulation account and will review these trades.

As a thank you, attendees will receive a 2-week free trial to the day-trading indicators and Algorithms along with a 23-page PDF booklet with chart examples and explanations.

This will be the first of a 4-part webinar series and space is limited!

Reserve your space today at: https://www2.gotomeeting.com/register/638930314

Risk: 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.

 

Title: Day-Trading Futures Webinar: Study Trading Set-ups, Methodology, Money Management and More!
Date: Wednesday, September 11, 2013
Time: 6:15 AM – 8:00 AM PDT

 

After registering you will receive a confirmation email containing information about joining the Webinar.

System Requirements
PC-based attendees
Required: Windows® 8, 7, Vista, XP or 2003 Server

Mac®-based attendees
Required: Mac OS® X 10.6 or newer

Mobile attendees
Required: iPhone®, iPad®, Android™ phone or Android tablet


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Futures Trading Levels and Economic Reports for September 5, 2013

Posted on by Ilan

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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Thursday September 5, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

 

If you are a client using our TransactAT platform, make sure you have the latest version installed. The current version is 5.5.4

 

If you are running an older version, please download the current one at:www.tfutures.com/download.htm

 

Are you an eSignal user? looking to save on your monthly cost you are paying to receive different quotes/charts from different exchanges? If so, please reply to this email for information on the CME exchange fee waiver.

 

You like the information we share? We would appreciate your positive reviews on Google+ , Facebook, Yelp etc…use the icons below to share, recommend, review us and more!

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Futures Trading Levels and Economic Reports for September 4, 2013

Posted on by Ilan

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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Wednesday September 4, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

 

Markets are quite sensitive to news breaks, especially with the Syria situation.

 

I think the following holds true EVERY day and every trade but even more so when the markets are tense like they are with the Syria situation right now:

 

When you think you are are about to get into a trade, take a few extra seconds to answer yourself the following:

Where will I place a stop?

Do I have a first target profit?

If I get my first profit target, what do I do with the remaining of the trade?  Do I use a trailing stop?

Do I have a final target?

What is the trade size I will use?

 

I know that sometimes you have to trade with the flow and make decisions on the fly but the more often you will think these steps out and plan your trade, the better chances you have to follow your plan and stay disciplined.

 

In between a daily chart of the mini NASDAQ 100 for your review as I feel the NASDAQ 100 is the leader of the indices recently.

 

Many have asked me for the meaning of the diamonds, arrows, plus signs etc.

It is actually part of a trading methodology I came up with and plan to have a series of webinars in the next few weeks where I review my indicators, money mgmt concept and more but to give a brief explanation:

 

Red Diamond is possible sell if we can take out previous bar low.

Blue diamond= possible buy if we can takeout previous bar high.

Same applies for Blue/ red triangles AS LONG as we get what I call price confirmation.

 

The lines are either FIBONACCI retracement or extension. More details will be explained in the first webinar which will be next Wednesday and an invite will follow this Friday.

mini NASDAQ daily chart

 

 

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Futures Trading Levels and Economic Reports for August 30, 2013

Posted on by Ilan

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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Friday August 30, 2013

Hello Traders,

For 2013 I would like to wish all of you discipline and patience in your trading! 

 

We will observe modified trading hours for Labor Day. Make sure to check the times and contact your broker if you have any questions.  Please scroll down to the previous blog below to see the schedule.  Thank you!

 

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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.