Trading 101: Ranking Market Events & Trading Levels 10.30.2018 - Support & Resistance Levels

Support & Resistance Levels

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Trading 101: Ranking Market Events & Trading Levels 10.30.2018


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Trading 101: Ranking Market Events ( knowing what you don’t know…)
by: Cannon Trading Staff
Every trader has done it. You’ve done it, your friends have done it, even your broker has done it at one point early in their career.
Here’s the scenario:
You’ve finally finished your futures education at Cannon Trading Company. You’ve done you’re homework on stops, limits, indicators and price movements for the market you’re trading. You’re ready to go, you enter your limit order and you wait.
You get filled. Your heart rate picks up, a wry smile crosses your face and you begin to imagine the possibilities of the one trade you’re in: How much can I make? How much can I lose before it’s too much? You’ve waited through months of technical trading and deep meditation to get here, and now it’s finally paying off with one of your first trades in the live market. Sayonara paper trading; aloha live futures.
Then, all of a sudden, the top of the hour hits and the market starts acting up. It’s getting more volatile and more volatile; it’s picking up speed and taking an unforgiving turn against you. You can’t think straight, all you can think about is your losing position that could get worse and worse as the seconds go by. You race to put in a stop order, but you finally have to settle for a market order just to stop the bleeding. You stare.
You’re out of the market. What the hell just happened? You stare at the screen; did your indicators lie to you? Is your system faulty? Did you not listen to your broker? Well, probably not. But you’re down several handles, you’ve lost some money and your pride is aching…


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


Economic Reports, source:


Date 4:03pm Currency Impact Detail Actual Forecast Previous Graph
TueOct 30  2:30am EUR
French Flash GDP q/q
0.4% 0.2%
All Day EUR
German Prelim CPI m/m
0.1% 0.4%
3:45am EUR
French Consumer Spending m/m
-0.4% 0.8%
4:00am EUR
Spanish Flash CPI y/y
2.3% 2.3%
4:55am EUR
German Unemployment Change
-12K -23K
5:00am EUR
Italian Prelim GDP q/q
0.2% 0.2%
6:00am EUR
Prelim Flash GDP q/q
0.4% 0.3%
Tentative EUR
Italian 10-y Bond Auction
7:00am GBP
CBI Realized Sales
27 23
9:00am USD
S&P/CS Composite-20 HPI y/y
6.0% 5.9%
10:00am USD
CB Consumer Confidence
136.3 138.4
8:01pm GBP
BRC Shop Price Index y/y
GfK Consumer Confidence
-10 -9

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.

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