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Monthly Unemployment Reports due Tomorrow 8.05.2016

Posted on August 4, 2016August 5, 2016 by Ilan

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

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 05, 2016

Hello Traders,

Monthly unemployment numbers come out tomorrow at 8:30 EST. This is always a big report which moves many markets. many times we will see large sharp moves right before and right after the number so if you are trading around this time, be aware. Consider reducing trading size and cancelling any orders you need to before the report comes out.

Below is a screen shot of both mini SP and gold 1 minute charts from last months report – a picture is worth a 1000 words….:

Mini SP 1 Minute Charts

Continue reading “Monthly Unemployment Reports due Tomorrow 8.05.2016”

What Market to Trade? Which Direction to Attack?

Posted on August 3, 2016August 5, 2016 by Ilan

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

Hello Traders,

Stock index futures have been choppy recently and “counter trend” methods seem to work better than others. That will change once the market breaks down sooner or later and volatility returns.

On the other hand we have markets like gold and crude that make big moves more often than not…just different type of personalities of different markets.

One tool I have been using more and more recently, is the Edge. A daily newsletter published by ExitPoints.com which provides you what markets to pay attention to and WHICH direction to attack that specific market from.

Today they provided me with two good ones, gold from the short side and crude oil from the long side.

If you have not had a trial for this service, I recommend signing up for the FREE TRIAL and then UTILIZING a Cannon broker to get a better feel on how one might use this newsletter and information.

Continue reading “What Market to Trade? Which Direction to Attack?”

What type of trading should you be engaged in? 8.03.2016

Posted on August 2, 2016August 5, 2016 by Ilan

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

Hello Traders,

Not all traders are built the same way… Some traders are more suitable for day trading, others perhaps for swing trading yet the third type may be a much longer term traders using options. Some prefer not to trade themselves and have someone else manage their trading and so forth.

I wrote this article ” What’s your trading blood Type?” a few years back and i think it is a great read for anyone considering trading or perhaps getting back into trading or maybe for those who are trading currently but not sure they are using the right “type of trading”.
Read the article here
Continue reading “What type of trading should you be engaged in? 8.03.2016”

Futures Support & Resistance Levels 8.02.2016

Posted on August 1, 2016July 3, 2017 by Ilan

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

Hello Traders,

There will be no market commentary today. Continue reading “Futures Support & Resistance Levels 8.02.2016”

Futures Levels 7.29.2016

Posted on July 28, 2016August 5, 2016 by Ilan

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

Hello Traders,

There will be no market commentary today. Continue reading “Futures Levels 7.29.2016”

Futures Trading Videos 7.28.2016

Posted on July 27, 2016August 5, 2016 by Ilan

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

Hello Traders,

FOMC came and gone. Main outcome so far that I noticed was higher precious metals.

Many times the real reaction to FOMC comes the following day but it feels like this one was much less of an event compare to many others before.

Check out our youtube channel! More than a few videos, recorded webinars and more! Continue reading “Futures Trading Videos 7.28.2016”

FOMC Due Tomorrow 7.27.2016

Posted on July 26, 2016August 5, 2016 by Ilan

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

Hello Traders,

The FOMC interest rate decision is due at 2:15 ET in the US tomorrow ( Wednesday, July 27th ). Also more than a few economic numbers ahead of the announcement.

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 2165.00 with a stop at 2159.00, instead “stretch the price bands” due to volatility and place an entry order to buy at 2159.75 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

Continue reading “FOMC Due Tomorrow 7.27.2016”