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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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Tips To Navigate the Futures Market, Crude Oil Chart & Trading Levels 4.01.2020

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Dear Traders,

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Some personal tips/opinions to help you navigate the markets we are in:
*While I have no idea were the market is going from day to day, minute to minute, week to week etc. I do know that in the past, some of the sharpest and largest rallies were short covering after a large sell off. More often than not market sell offs and volatility like we are seeing do not end up as V type of action but more like U or W when it is all said and done.
*Expect the unexpected…
* Widen the bands, use Bollinger bands as possible visual
* Use higher time frame. 15 MIN and above to try and filter out the noise.
*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 2535.00 with a stop at 2519.00, instead “stretch the price bands” due to volatility and place an entry order to buy at 2519.75 and place a stop a few points below in this hypothetical example ( consider current volatility along with support and resistance levels).
* Have an idea of what you are looking to do, keep in mind possible risk and have a game plan. Now more than ever, plan your trade and than trade your plan!
* Think money management, hedging risk while you are still trying to figure out how to profit.
* Know what is going on, reports, current margins, current limits and more.
*Trade smaller. The bands are much larger. Watch the VIX.
*  Learn to reduce trading size. Perhaps trade smaller contracts like the micros.
* Understand that loses are part of trading and this is definitely not a good time to “fight the markets”.
* Focus more on risk management and ways to protect certain positions as needed. Spreads? Options?
* Survive to trade another day.
*  NO TRADE IS BETTER THAN A BAD TRADE
* DO NOT assume anything…if you are not sure, contact us and we will try our best to assist with the combined, vast experience we have here as a team.
* Wash hands, try not to touch your face!!! take this seriously and do your best to stay healthy….

Good Trading

Trading Futures, Futures Market, 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

04-01-2020

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Economic Reports, source: 

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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 and Futures Market.

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  • The concept of Price Confirmation
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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.
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