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Weekly Newsletter 1151: Free Course, Futures Options for Equity Traders + Levels for June 26th

Posted on by Ilan

Cannon Futures Weekly Newsletter Issue # 1151

 

Join our private Facebook group for additional insight into trading and the futures markets!

Have a safe Memorial Day Weekend. Trading Schedule HERE

In this issue:

  • Important Notices – Level 1 VS Level 2 Quotes
  • Trading Resource of the Week – FREE ONLINE COURSE: Options on Futures for Equity Traders
  • Broker’s Trading System of the Week – Intraday NQ Trading System
  • Trading Levels for Next Week
  • Trading Reports for Next Week

 

  • Important Notices – Level 1 VS Level 2 Quotes
  • Which one do you need? Perhaps you can save on data costs?

Watch Video Below 

Understanding Level One and Level Two Quotes 📈

Trading Resource of the Week – FREE ONLINE COURSE:

Options on Futures for Equity Traders
This course is geared towards traders familiar with trading equity options and will show you how a little knowledge around futures can help you transition from equity options to options on futures, using many of the strategies you already deploy. You will learn how options on futures are priced, how options can help you diversify your portfolio, as well as let you see opportunities during major economic events where you could trade options.
In this “Options on Futures for Equity Traders” FREE Course you will learn:
  • Understanding Options Contract Details
  • Trading Options on Futures Using Strategies you Already Know
  • Influence of Pricing on the Option for Equity Traders
  • Why Options on Futures Gives Added benefit of Diversifying Risk
  • Trading Options During Economic Events

 

Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors. Past performance of actual trades or strategies is not necessarily indicative of future results.
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With algorithmic trading systems becoming more prevalent in portfolio diversification, the following system has been selected as the broker’s choice for this month.
PRODUCT
Mini Nasdaq
SYSTEM TYPE
Intraday
Recommended Cannon Trading Starting Capital
$15,000
COST
USD 80 / monthly
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The performance shown above is hypothetical in that the chart represents returns in a model account. The model account rises or falls by the average single contract profit and loss achieved by clients trading actual money pursuant to the listed system’s trading signals on the appropriate dates (client fills), or if no actual client profit or loss available – by the hypothetical single contract profit and loss of trades generated by the system’s trading signals on that day in real time (real‐time) less slippage, or if no real time profit or loss available – by the hypothetical single contract profit and loss of trades generated by running the system logic backwards on back adjusted data. Please read full disclaimer HERE.
Sign Up for a Free Personalized Consultation with a Broker from Cannon Trading Company
Questions about the markets? trading? platforms? technology? trading systems? Get answers with a complimentary, confidential consultation with a Cannon Trading Company series 3 broker.

  • Trading Levels for Next Week

Daily Levels for June 26th, 2022
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
Would you like to receive daily support & resistance levels?
Yes
S
No
S

Weekly Levels

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  • Trading Reports for Next Week

First Notice (FN), Last trading (LT) Days for the Week: www.mrci.com 
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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 herein 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 judgment in trading.

 

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.

More Powell and Crude Oil Numbers+ Levels for June 22nd

Posted on by Ilan
Get Real Time updates and more on our private FB group!

Bullet Points, Highlights, Announcements

By Mark O’Brien, Senior Broker

 

General:

 

As of this typing, Federal Reserve Board Chairman Jerome Powell just wrapped up testifying before the House Financial Services Committee. Tomorrow he’ll testify in front of the Senate Banking Committee. These congressional appearances come on the heels of last week’s FOMC meeting where the central bank decided not to raise interest rates for the first time in eleven meetings. The key take-away: while inflation has eased – to just above 5% – the campaign to see inflation back to the bank’s 2% target “has a long way to go.” Moving at a pace that includes holding steady at this point, the chairman explained, will give policymakers time to analyze how higher rates are working to slow the economy.

 

Agricultural

 

Starting June 1, after a ± two-month / ±$2.00 price drop to below $13/bushel, July Soybeans have soared to today’s $15.19½ / bushel closing price, a ±$10,000 per contract move in 14 trade sessions. July corn prices started their lift-off a couple of weeks earlier and they’ve gained ±$2.00 / bushel – another ±$10,000 move – as well, as of today’s close of trading. U.S. crop conditions continue to worsen according to recent reports and forecasts for waves of cooler, wetter fronts returning and traversing a large area of the U.S. growing region into this weekend have been almost completely discounted.

 

Metals

 

Aug. gold traded to 3-month lows today, touching $1929.30 / oz. intraday, continuing a ±month and half slide from its spike high above $$2,100 ounce on May 4th.

 

Softs

 

Sugar (basis July) remained near ±12-yr highs around 25 cents / pound, but has remained choppy since its first foray to these highs back in April. Traders keep an eye on news related to Indian and Brazilian cane crop development in these important growing regions, particularly as the monsoon season approaches as this will provide guidance to this year’s crop development.

 

Quick video on the difference between TOP of the BOOK ( level 1 ) and Level 2 quotes below

Depth of Market, #DOM, Live Futures Quotes, Futures Trading platform, E-Futures, CME market data subscription, Real time data, Bids, Offers, #CME, #NYMEX, #COMEX, #CBOT

 

Quick video on Projecting possible targets when trading futures below!

Projecting possible targets when trading futures

 

Plan your trade and trade your plan. 

 

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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

for 06-22-2023

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

Economic Reports, Source: 

Forexfactory.com

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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.

Level 1 and Level 2 quotes – Trading levels for June 21st

Posted on by Ilan
Get Real Time updates and more on our private FB group!

 

Fed. Chair, Powell will be testifying in congress tomorrow. Expect volatility during the speech.

Quick video on the difference between TOP of the BOOK ( level 1 ) and Level 2 quotes below

Depth of Market, #DOM, Live Futures Quotes, Futures Trading platform, E-Futures, CME market data subscription, Real time data, Bids, Offers, #CME, #NYMEX, #COMEX, #CBOT

 

Quick video on Projecting possible targets when trading futures below!

Projecting possible targets when trading futures

 

Plan your trade and trade your plan. 

 

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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

for 06-21-2023

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

Economic Reports, Source: 

Forexfactory.com

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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.

Weekly Newsletter 1150: Projecting Targets, Juneteenth Hours + Levels for June 19th/20th

Posted on by Ilan

Cannon Futures Weekly Newsletter Issue # 1150

 

Join our private Facebook group for additional insight into trading and the futures markets!

Have a safe Memorial Day Weekend. Trading Schedule HERE

In this issue:

  • Important Notices – Juneteenth Holiday Hours
  • Trading Resource of the Week – Trading 101 Video: Where are my Targets?
  • Hot Market of the Week – July Oats
  • Broker’s Trading System of the Week – NEW Crude Oil Trading System
  • Trading Levels for Next Week
  • Trading Reports for Next Week

 

    • Important Notices – Juneteenth Holiday Hours
    Monday, June 19, 2023 US bank will be closed in observance of Juneteenth. There will be no money transactions Wires, ACH, Internal transfer and or currency conversion.

 

Trading Resource of the Week –

Projecting Possible Price targets
By Ilan Levy-Mayer, VP
Watch the video below to get an idea on how to use Fibonacci extensions along with candle sticks to project possible price targets.

 

Projecting possible targets when trading futures

Try a FREE demo of the platform used to show the charts in this educational article. The platform is FREE and has charts, news, DOM, T&S, Alerts, advanced order entry, options and MUCH MORE!

A Cannon broker will be able to assist, provide feedback and answer any questions.

 

Hot market of the week is provided by QT Market Center, A swiss army knife charting package that’s not just for Hedgers, Cooperatives and Farmers alike but also for Spread traders, Swing traders and shorter time frame application for intraday traders with a unique proprietary indicator that can be applied to your specific trading needs.
July Oats finally stabilized their slide last month and then activated upside PriceCount objectives on the correction higher. Chart is satisfied its first count to $3.81 where it would be normal to get a near-term reaction in a form of consolidation or corrective trade. If you can sustain for the strength from here, the second count would project the possible run to the $4.10 area
PriceCounts – Not about where we’ve been , but where we might be going next!
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The PriceCount study is a tool that can help to project the distance of a move in price. The counts are not intended to be an ‘exact’ science but rather offer a target area for the four objectives which are based off the first leg of a move with each subsequent count having a smaller percentage of being achieved. It is normal for the chart to react by correcting or consolidating at an objective and then either resuming its move or reversing trend. Best utilized in conjunction with other technical tools, PriceCounts offer one more way to analyze charts and help to manage your positions and risk. Learn more at www.qtchartoftheday.com
Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors. Past performance of actual trades or strategies is not necessarily indicative of future results.
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With algorithmic trading systems becoming more prevalent in portfolio diversification, the following system has been selected as the broker’s choice for this month.
PRODUCT
Crude Oil
SYSTEM TYPE
Intraday
Recommended Cannon Trading Starting Capital
$10,000
COST
USD 140 / monthly
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The performance shown above is hypothetical in that the chart represents returns in a model account. The model account rises or falls by the average single contract profit and loss achieved by clients trading actual money pursuant to the listed system’s trading signals on the appropriate dates (client fills), or if no actual client profit or loss available – by the hypothetical single contract profit and loss of trades generated by the system’s trading signals on that day in real time (real‐time) less slippage, or if no real time profit or loss available – by the hypothetical single contract profit and loss of trades generated by running the system logic backwards on back adjusted data. Please read full disclaimer HERE.
Sign Up for a Free Personalized Consultation with a Broker from Cannon Trading Company
Questions about the markets? trading? platforms? technology? trading systems? Get answers with a complimentary, confidential consultation with a Cannon Trading Company series 3 broker.

  • Trading Levels for Next Week

Daily Levels for June 19th, 2022
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
Would you like to receive daily support & resistance levels?
Yes
S
No
S

Weekly Levels

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  • Trading Reports for Next Week

First Notice (FN), Last trading (LT) Days for the Week: www.mrci.com 
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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 herein 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 judgment in trading.

 

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.

Juneteenth Trading Schedule, Quadruple witching + Levels for June 16th

Posted on by Ilan
Get Real Time updates and more on our private FB group!

 

Start trading September currencies and stock indices.

Tomorrow June index futures will expire into cash at 8:30 AM Central time.

Monday, June 19, 2023 US bank will be closed in observance of Juneteenth. There will be no money transactions Wires, ACH, Internal transfer and or currency conversion.

Please see modified trading schedule HERE.

 

Quick video on Projecting possible targets when trading futures below!

Projecting possible targets when trading futures

 

Rollover is here for stock indices. i.e., the E-mini and Micro S&P, Nasdaq, Dow Jones and Russell 2000.

  Volume in the June contracts will begin to drop off until their expiration next Friday, June 16th (8:30 A.M., Central Time). At that point, trading in these contracts halts. Stock index futures are CASH SETTLED contracts. If you hold any June futures contracts through 8:30 A.M., Central Time on Friday, June 16th, they will be offset with the cash settlement price, as set by the exchange.

The month code for September is ‘U.’  Please consider carefully how you place orders when changing over.

Watch the video below on how to rollover your market depth and charts!

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Plan your trade and trade your plan. 

 

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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

for 06-16-2023

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

 

Economic Reports, Source: 

Forexfactory.com

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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.

Fed Pause Rates, ECB Tomorrow + Levels for June 15th

Posted on by Ilan
Get Real Time updates and more on our private FB group!

 

Don’t take anything for granted:

By Mark O’Brien, Senior Broker

It’s a big week for financial markets and their related futures contracts with interest rate decisions from three major central banks coming one after another: the U.S. Federal Reserve (which just decided not to raise rates for the first time in eleven months), the European Central Bank and the Central Bank of Japan.

 

The Bank of Canada hiked rates last Wednesday to a 22-year high of 4.75%, having held rates steady since January.  The day prior, Australia’s central bank raised rates by a quarter point to an 11-year high and warned of further tightening ahead.

 

One of the take-aways from last week’s surprise rate increases in Canada and Australia and today’s first-time respite by the Fed.: don’t take anything for granted.

 

Economies around the world are experiencing disparate inflation trajectories compared to others – including the U.S. – and their central bank’s efforts to getting inflation down have started to deviate somewhat.  Financial and other futures markets, ever reacting to uncertainty – often overreacting – may become even more challenging arenas within which to trade.

 

This is pretty clear set-up to submit again the usefulness of trading options – either in combination with your futures trading or exclusive of it.  Trading options offers a near limitless range of risk/reward scenarios to take on, from that on par with straight futures trading to substantially less to absolutely limited.  And because options are valued in part by their ever-decaying lifespans, they offer another component to a trade’s outcome: time value.

 

If you think options aren’t for you, consider one sector’s growth in this area in the last recent years: equity index options.  Options in the E-mini S&P 500 and E-mini Nasdaq continue to see strong growth in participation and volume as market participants are increasingly turning to the them as part of their trading – and talk to your broker at Cannon Trading Co. for more information.

See below the ADV ( avg. daily volume) for NQ and ES

E-mini S&P 500 Options Annual ADV

E-mini Nasdaq-100 Options Annual ADV

Rollover is here for stock indices. i.e., the E-mini and Micro S&P, Nasdaq, Dow Jones and Russell 2000.

  Volume in the June contracts will begin to drop off until their expiration next Friday, June 16th (8:30 A.M., Central Time). At that point, trading in these contracts halts. Stock index futures are CASH SETTLED contracts. If you hold any June futures contracts through 8:30 A.M., Central Time on Friday, June 16th, they will be offset with the cash settlement price, as set by the exchange.

The month code for September is ‘U.’  Please consider carefully how you place orders when changing over.

Watch the video below on how to rollover your market depth and charts!

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Plan your trade and trade your plan. 

 

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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

for 06-15-2023

 

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

Economic Reports, Source: 

Forexfactory.com

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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.

CPI, PPI, Fomc…busy week ahead + Futures Levels 6.13.2023

Posted on by Ilan
Get Real Time updates and more on our private FB group!

 

The Week Ahead:

By John Thorpe, Senior Broker

Stock index price volatility is anticipated to pick up this week with the release of several key U.S. Government reports tied to inflation. It begins early Tuesday morning and continues through Thursday.

Before we get into the details , volatility typically = additional risk.

Some traders welcome the additional price movements as it may play into their collective strategic hands, while many other traders not only create a strategy that is based on smaller more well defined price movements but, rely on reduced volatility to trade successfully.

It is an urgent matter to understand what kind of trader you are, what type of system and indicators you employ and plan your trade around these reports as you see fit.

In anticipation of the release of these numbers, some clearing firms will be increasing the day trade margin rates during this time. Please contact your broker for any questions as it relates specifically to your clearing firm and and account so you have plenty of time and capital resources to plan for these changes. Many times these short term increases in margin rates are for a matter of minutes. be prepared.

As for the details, : Tuesday 7:30 a..m. CDT May CPI Consumer Price Index here is the consensus from Econoday.com

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and Finally @ 1:00 P.M. CDT the Fed meeting concludes and the decision on the target range for fed funds will be released, followed by a 1:30 P.M. J, Powell News Conference with a Q & A session.

Thursday, Jobless claims, Retail sales and Industrial production close out the meaningful reports for the week as Friday should be a balancing day prior to the weekend and after the June ES expiration!  Strap your seat belts on!

Understanding expectations will allow you to trade with more confidence when there is a sudden change in policy directives!

Rollover is here for stock indices. i.e., the E-mini and Micro S&P, Nasdaq, Dow Jones and Russell 2000.

  Volume in the June contracts will begin to drop off until their expiration next Friday, June 16th (8:30 A.M., Central Time). At that point, trading in these contracts halts. Stock index futures are CASH SETTLED contracts. If you hold any June futures contracts through 8:30 A.M., Central Time on Friday, June 16th, they will be offset with the cash settlement price, as set by the exchange.

The month code for September is ‘U.’  Please consider carefully how you place orders when changing over.

Watch the video below on how to rollover your market depth and charts!

thumbnail?url=https%3A%2F%2Fi.vimeocdn

 

Plan your trade and trade your plan. 

 

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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

for 06-13-2023

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

 

Economic Reports, Source: 

Forexfactory.com

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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.

Weekly Newsletter 1149: The Rising Wedge Trading Pattern + Levels for June 12th

Posted on by Ilan

Cannon Futures Weekly Newsletter Issue # 1149

 

Join our private Facebook group for additional insight into trading and the futures markets!

Have a safe Memorial Day Weekend. Trading Schedule HERE

In this issue:

  • Important Notices – Rollover Notice
  • Trading Resource of the Week – Trading Pattern: Rising Wedge also known as Ascending Triangle
  • Hot Market of the Week – July Unleaded Gasoline
  • Broker’s Trading System of the Week – Unleaded Gas Swing Trading System
  • Trading Levels for Next Week
  • Trading Reports for Next Week

 

  • Important Notices – Rollover Notice

 

Rollover is here for stock indices. i.e., the E-mini and Micro S&P, Nasdaq, Dow Jones and Russell 2000.
I personally start trading September this Monday when the volume on September is higher than the June.
  Volume in the June contracts will begin to drop off until their expiration next Friday, June 16th (8:30 A.M., Central Time). At that point, trading in these contracts halts. Stock index futures are CASH SETTLED contracts. If you hold any June futures contracts through 8:30 A.M., Central Time on Friday, June 16th, they will be offset with the cash settlement price, as set by the exchange.
 Monday, June 19th is Last Trading Day for June currency futures. It is of the utmost importance for currency traders to exit all June futures contracts by Friday, June 16th and to start trading the September futures. Currency futures are DELIVERABLE contracts.
The month code for September is ‘U.’  Please consider carefully how you place orders when changing over.

 

Trading Resource of the Week –

Trading Pattern: Rising Wedge also known as Ascending Triangle
By Joe Easton, Senior Broker
Formation:
  • This pattern is defined as price narrowing from a wider range to a smaller range while making higher highs and higher lows.
  •  This pattern is a bearish reversal signal suggesting a possible minor retracement or potential trend change.
  •   Typically new highs are seen on lower volume.

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Try a FREE demo of the platform used to show the charts in this educational article. The platform is FREE and has charts, news, DOM, T&S, Alerts, advanced order entry, options and MUCH MORE!

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As provided in the examples above the range is narrowing toward the top of the wedge, while still making new highs. This causes a converging of trendlines to make the triangle pointing upward. Ideally this pattern breaks the lower trendline between 65-75% of completion. If the price action continues to the end of the triangle the breakout becomes less likely. Ascending triangles can also be continuation signals in a downtrend, although they have a lower probability.
How to Trade:
The ideal entry is toward the top trendline near the 60% level, this gives you a better position inside the triangle. If entered on this line your stop should be above the upper trendline.
The more conservative entry would be when the lower trendline is broken. This can happen very quickly and needs to be timed more accurately. Using the lower trendline entry the stop is placed above the lower trendline before re-entering the wedge. If the price trades back into the wedge after breaking, the pattern has less likely chance of success. Ideally when the lower trendline is broken price accelerates quickly lower.
When price breaks out you can measure the triangle at the widest section and project price to reach that same distance from the lower trendline.
Summary:
Ascending Triangles can be strong trading patterns provided the formation remains in tact. Unlike many other patterns when an ugly formation can actually be beneficial, this pattern is much more precise. Any closes above the upper trendline or below the lower trendline should continue in that direction. The price action needs to remain inside the trendlines and breakout before the end to maximize the chance of success.
Important: Trading commodity futures and options involves a substantial risk of loss.
The recommendations contained in this chart are of opinion only and do not guarantee any profits.
Past performances are not necessarily indicative of future results

A Cannon broker will be able to assist, provide feedback and answer any questions.

 

Hot market of the week is provided by QT Market Center, A swiss army knife charting package that’s not just for Hedgers, Cooperatives and Farmers alike but also for Spread traders, Swing traders and shorter time frame application for intraday traders with a unique proprietary indicator that can be applied to your specific trading needs.
July unleaded gasoline satisfied its first upside PriceCount Objective and appears to be entering a corrective trade, which is a normal reaction. From here, if chart can sustain further upside it would have to contend with the April highs before it can reach the second count to 2.80 .
PriceCounts – Not about where we’ve been , but where we might be going next!
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The PriceCount study is a tool that can help to project the distance of a move in price. The counts are not intended to be an ‘exact’ science but rather offer a target area for the four objectives which are based off the first leg of a move with each subsequent count having a smaller percentage of being achieved. It is normal for the chart to react by correcting or consolidating at an objective and then either resuming its move or reversing trend. Best utilized in conjunction with other technical tools, PriceCounts offer one more way to analyze charts and help to manage your positions and risk. Learn more at www.qtchartoftheday.com
Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors. Past performance of actual trades or strategies is not necessarily indicative of future results.
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With algorithmic trading systems becoming more prevalent in portfolio diversification, the following system has been selected as the broker’s choice for this month.
PRODUCT
SYSTEM TYPE
Swing
Recommended Cannon Trading Starting Capital
$20,000
COST
USD 145 / monthly
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The performance shown above is hypothetical in that the chart represents returns in a model account. The model account rises or falls by the average single contract profit and loss achieved by clients trading actual money pursuant to the listed system’s trading signals on the appropriate dates (client fills), or if no actual client profit or loss available – by the hypothetical single contract profit and loss of trades generated by the system’s trading signals on that day in real time (real‐time) less slippage, or if no real time profit or loss available – by the hypothetical single contract profit and loss of trades generated by running the system logic backwards on back adjusted data. Please read full disclaimer HERE.
Sign Up for a Free Personalized Consultation with a Broker from Cannon Trading Company
Questions about the markets? trading? platforms? technology? trading systems? Get answers with a complimentary, confidential consultation with a Cannon Trading Company series 3 broker.

  • Trading Levels for Next Week

Daily Levels for June 12th, 2022
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
Would you like to receive daily support & resistance levels?
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Weekly Levels

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

  • Trading Reports for Next Week

First Notice (FN), Last trading (LT) Days for the Week: www.mrci.com 
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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 herein 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 judgment in trading.

 

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 for June 6.09.2023

Posted on by Ilan
Get Real Time updates and more on our private FB group!

 

No commentary today. Wishing everyone good and safe trading tomorrow, June 9th 2023!

 

 

Plan your trade and trade your plan. 

 

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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

for 06-09-2023

 

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

Economic Reports, Source: 

Forexfactory.com

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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.

Order Flow Webinar + Futures Trading Levels 6.07.2023

Posted on by Ilan
Get Real Time updates and more on our private FB group!

 

Webinar: Order Flow Trading Platform

Wed, June 7th, 2023 12:01 PM – 1:00 PM PDT

Show in My Time Zone

In this webinar, we’ll tour the platform and take a look at how to utilize Order Flow, Delta Filer bars and other innovative features while observing a variety of futures markets with a focus on some of the smaller Micro futures contracts.

Our host, Antonio Sartorello of Volumetrica will guide attendees as the markets trade in real time. Learn more about VolSys’s core features

• Order Flow and it’s pullback bar

• How to use Advances T&S

• How to use Advanced DOM

• Delta Filter Bars to identify Strength/weakness

• Where are the big traders/ orders?

Attendees will receive a FULLY functionable demo with live data!!

SPACE is LIMITED, so reserve your space now!

https://attendee.gotowebinar.com/register/3653796317657144918

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

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

for 06-07-2023

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

3b644da2 2bee 4d39 8d98 5208a20bec39

Economic Reports, Source: 

Forexfactory.com

 

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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.

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.