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 October 23, 2013

Posted on by Ilan

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

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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 October 23, 2013

Hello Traders,

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

I had 3376 as potential target for the mini NASDAQ for the last week or so. To be honest, I DID NOT think it would make it there but it did…question is now what?

If you are a counter trend trader, you can go short against this level risking a few points above it. If you are more on the conservative side, you probably want to wait for a trigger that the market is running out of steam before trying the short side….That trigger may be a cross over of stochastic on the hourly chart, perhaps a break below today’s lows….really depends on the style of trade you feel comfortable with and the time frame you are trading. The chart below is more for what I call swing trading rather than day trading.

There are many different ways to lose money trading futures and very few to make $$$. Some methods will work on some markets, some of the time. I have not found a way that works on all markets all the time….

Daily chart for your review below:

ENQ - E Mini NASDAQ 100, Equalized Active Daily Continuation

Continue reading “Futures Trading Levels and Economic Reports for October 23, 2013”

Futures Trading Levels and Economic Reports for October 22, 2013

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

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 October 22, 2013

Hello Traders,

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

Make sure you are aware of the revised economic reports schedule, example: tomorrow we will have monthly unemployment figures for Sept. since this report was not released when it was suppose to because of the shut down. As far price forecast, tough to tell. Market been going up more than a few days in a row and is due for pullback, the questions is: when and how much higher can it go before pulls back…..

Revised release schedule for US economic data delayed by govt shutdown

Fri, 18 Oct 2013 12:57 PM ESTMonday 10/21:
EIA Weekly Petroleum Inventories (postponed from prev week)Tuesday 10/22:
Employment Report – Change in Non-Farm Payrolls/Two-Month Payroll Net Revision/Unemployment Rate; Change in Household Employment/Average Hourly Earnings; Average Weekly Hours/Underemployment Rate/Labor Force Participation Rate (Sept)
EIA Weekly Natural Gas Inventories (postponed from prev week)Wednesday 10/23:
U.S. Import and Export Price Indexes (Sept)
EIA Weekly Petroleum InventoriesThursday 10/24:
Job Openings & Labor Turnover Survey (Aug)
EIA Weekly Natural Gas Inventories

Tuesday 10/29:
PPI; PPI Ex-Food/Energy (Sept)

Wednesday 10/30:
CPI; CPI Ex-Food and Energy; CPI Core Index (Sept)
Real Earnings (Oct)

Friday 11/8:
Employment Report (Oct)
WASDE

Tuesday 11/19:
Employment Cost Index (Q3)

**Thus far it appears all data will be released at their normal posting time.

Continue reading “Futures Trading Levels and Economic Reports for October 22, 2013”

Top Things to Consider When Choosing a Futures Broker

Posted on by Ilan

With many economists, researchers and traders calling for the next bull market in commodities, and you have disposable risk capital to take advantage of these potential trends you may be asking yourself – How can I begin my search for a solid reliable Futures Broker? I have included 9 items below that you should be cognizant of to assist you in finding a reliable partner for your commodity trading needs.

1. The Futures Brokers history

How long has the Futures Broker been in business? What is the commodity trading brokers regulatory history? you can check here by selecting BASIC then responding to the prompts to bring up a regulatory profile of the firms or individuals that you are interested in researching. http://www.nfa.futures.org/ Many times you will be able to find a nuisance regulatory issue and other times you may find regulatory actions that would cause you to pause. If you pause, move on to another broker as all legitimate Commodity Futures Brokers must be registered with the National Futures Association (NFA). if you can’t find your broker on the NFA website, you may not be dealing with a regulated entity.

2. Trading Platform choices

You would be looking for a Discount Futures broker if platform choice is critical to your trading strategy. Opportunities to use a variety of tools and risk management software to enhance your trading experience as an online, self-directed trader will vastly improve your traders toolbox. Preferably you will want to use a Discount futures broker that can offer a wide array of trading solutions software to execute your plan. Not all Platforms and Data feeds are alike and in this day of wifi and internet , the speed and accuracy of your software will be critical to your success, not to mention the bandwidth you will be piping into your computer.

Continue reading “Top Things to Consider When Choosing a Futures Broker”

Futures Trading Levels and Economic Reports for October 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 Friday October 18, 2013

Hello Traders,

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

As most of you know, for short term trading I like to use volume charts, range bar charts and Renko charts.

I have shared some set ups in previous posts and will continue to do so.

For example, I like to use 18 ticks range bar charts for crude oil and 6 ticks range bar charts for mini SP.

Here is a little more on Range bar charts, courtesy of CQG.com which is my main charting/execution software followed by sierra charts:

Range Bar (RB)

A Range Bar chart is a non-time-based chart constructed of bars that indicate price movement as a way to help expose trends and volatility. A bar is created each time a trade occurs outside of the previous bar’s stated price range, which you set in preferences.

 

Mini S&P 2 Tick Range Bar Chart
Mini S&P 2 Tick Range Bar Chart

Futures Trading Levels and Economic Reports for October 17, 2013

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

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 October 17, 2013

Hello Traders,

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

A note, mostly to prospects, as I think most of our clients are already trading on the most suitable platform for their needs, but if you are not a client yet …

We now offer pretty much ANY trading platform out there, including NINJA ZEN FIRE.

So if you have a specific platform in mind OR if you are a NINJA user and would like to see what I consider superb service and added value, visit our website and specifically the NINJA page.

Continue reading “Futures Trading Levels and Economic Reports for October 17, 2013”

Futures Trading Levels and Economic Reports for October 15, 2013

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

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 October 15, 2013

Hello Traders,

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

Most Common Pitfalls To Avoid When Trading Futures-Commodity Futures

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500 experienced futures brokers were asked what caused most futures traders to lose money when comes to trading futures.

Their answers reflected the trading experience of more than 10,000 futures traders.  Download the PDF and find out what they said.

1.) Have a Plan

Many futures traders trade without a plan. They do not define specific risk and profit objectives before trading. Even if they establish a plan, they “second guess” it and don’t stick to it, particularly if the trade is a loss. Consequently, they over trade and use their equity to the limit (are under capitalized), which puts them in a squeeze and forces them to liquidate positions. Usually, they liquidate the good trades and keep the bad ones.

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2.) News Factor

Many traders don’t realize the news they hear and read has, in many cases, already been discounted by the market.

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3.) Trade Objectively

After several profitable trades, many speculators become wild and non conservative. They base their trades on hunches and long shots, rather than sound fundamental and technical reasoning, or put their money into one deal that “can’t fail.”

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4.) Know Your Size

Traders often try to carry too big a position with too little capital and trade too frequently for the size of the account.

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5.) Don’t Get Greedy when it comes to Trading Futures

Some traders try to “beat the market” by day trading, nervous scalping, and getting greedy.

Futures Trading Levels and Economic Reports for October 11, 2013

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

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 October 11, 2013

Hello Traders,

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

Big upside move today in stock index futures.

The big question is : is this buy the rumor, sell the fact? is this just a relief rally on news that lack much substance?

The future will answer our question but in between anyone’s speculation can be right or wrong….

I think in the shorter term we need to see which is the path of least resistance first, the 1694 area or the 1681 level. We will probably get an answer to that tomorrow. Then we need to see the wider bands and what type of price action we get….Trading is definitely NOT an easy thing but if any of you found ways to make it easier, please share and I will try to spread the word!

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 October 11, 2013”

Futures Trading Levels and Economic Reports for October 10, 2013

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

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 October 10, 2013

Hello Traders,

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

Short and to the point article written by my colleague, www.JimWyckoff.com  

 

Educational Feature: Dealing With Losing Trades

 

(Note: This feature is a favorite of mine, and I believe all traders need to address this issue every once in a while.)A main tenet of success in futures trading is the ability to accept losing trades as part of the overall trading process. This is not an easy undertaking–especially since many futures traders tend to be of a more competitive nature in the first place. Traders certainly don’t have to enjoy losing trades, but they must accept the fact and move on. Those who can’t accept the fact that losing trades are a part of futures trading usually don’t stay in the business very long.My wife is a school teacher, and one of her favorite acronyms–ADM–can be applied to losing futures trades. “Accept” it. “Deal” with it. “Move” on. (This is a part of the important psychological aspect of trading, and deserves much more discussion than I can provide in this feature.)I had lunch with one of my trading mentors a while back. We discussed losing trades. I asked my mentor how many losing trades in a row he has had to endure during his long and successful trading career. His reply was 13 in a row. I asked him how he coped with that. He said that while it was certainly not easy, he knew that losing trades are a part of the business and that he was in the business “for the long haul,” and that his trading methodology was sound. He added, “Ninety-percent of futures trading profits are made on 10% of the trades, which means most of the other trades are either small losers or break-even-type trades.” This is an important fact for all traders to keep in mind.My lunch meeting with my mentor was good for me because, even though we made no “break-through” discoveries on the path to increased futures trading success, we did reaffirm our own philosophies on trading and markets. My passion for trading and market analysis is fed immensely every time I talk with people in my profession, or attend the quality trading seminars.For many of you, the futures trading arena can be more fulfilling (and more fun) if you have someone, or some support group, with which to share your thoughts and strategies. If you are passionate about futures trading and markets, finding someone who shares that passion is a great trading tool within itself!That’s it for now. Next time, we’ll discuss another important issue on your path to trading success.

Continue reading “Futures Trading Levels and Economic Reports for October 10, 2013”

Futures Trading Levels and Economic Reports for October 09, 2013

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

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 October 09, 2013

Hello Traders,

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

Stock indices broke down over last few days as Govt. shut down is in affect. One never knows what type of reaction we will get once the shut down is over or when this will be.

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

Continue reading “Futures Trading Levels and Economic Reports for October 09, 2013”

Futures Trading Levels and Economic Reports for October 8, 2013

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

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 October 08, 2013

Hello Traders,

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

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

Space is limited. Join us for a Webinar on October 9

Reserve your Webinar seat now at:
https://www2.gotomeeting.com/register/198800538

 

Join us for a 90-minute LIVE trading and screen sharing, Wednesday, Oct. 9th   at 9:15 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.” and will focus on Gold futures.

In this webinar, Ilan will:

  1. Explain his entry signals
  2. Review trading size
  3. Explain multi time frame correlation
  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 3-week free trial to the day-trading indicators and Algorithms along with a 23-page PDF booklet with chart examples and explanations.

Space is limited!

Reserve your space today at: https://www2.gotomeeting.com/register/198800538

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.

Continue reading “Futures Trading Levels and Economic Reports for October 8, 2013”

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.