What type of Trading Day is it? & Trading Levels 2.13.2019
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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Dear Traders,
- My opinion is that there are 3 main types of trading days.
- Good question is how can one asses what type of trading day we will have while the market is still trading….I am doing some work about it and will be happy to hear feedback via email but here are some initial observations:
- Was the overnight session a wide, two sided trading range? If the answer is yes, good chances for similar trading day during the primary session ( primary session is when the cash/ stock market is open)
- Mondays have the highest chance for trending days
- The behavior of the first hour of trading can also suggests the type of action for the rest of the day.
- If the first 30 minutes have good volume, better chances for type 1 or type 2 trading days.
- low volume during first 30 minutes can suggest a choppy (type 3 trading day)
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
02-13-2019
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.
