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Types of Futures Trading Days & Economic Reports 8.05.2015

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

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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 Tuesday August 4, 2015

Hello Traders,

For 2015 I would like to wish all of you discipline and patience in your trading!

Hello Traders,

In the last few days we witnessed “summer trading” with low volume and range bound trading which encouraged me to share the following with you on the different types of trading days:

  • In my opinion there are 3 main types of future trading days.

1. The most common day are two sided trading action with swings up and down – this type of trading day is most suitable for using support and resistance levels along with overbought/oversold indicators.

2. Strong trending days, mostly one directional – this type of trading day is the least common, many times will happen on Mondays and maybe 3-5 times a month at most – this type of trading day is most suitable for using ADX, MACD crossovers and pretty much looking for pullbacks to jump on the trend.

3. Slow and/or choppy trading days – this type of trading day is best suited for taking small profits from the market by looking at volume spikes, using stochastics as possible entry signals and usually wait for a pullback before jumping in.

  • A good question I’ve been asked is how can one asses what type of trading day we will have while the market is still trading….I have been doing some work in finding the answers and will be happy to hear feedback via email but here are some initial observations:
    1. 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)
    2. Mondays have the highest chance for trending days
    3. The behavior of the first hour of trading can also suggests the type of action for the rest of the day.
    4. If the first 30 minutes of the trading day have good volume, better chances for type 1 or type 2 trading days.
    5. Low volume during the first 30 minutes can suggest a choppy (type 3 trading day)

Recognizing , hopefully , early enough in the session what type of trading day is developing, can help you utilize the best strategies and trading style.

Did you know Cannon offers FOREX trading including the MT4 platform? Check out our Trading Systems/ALGO Trading and Managed Accounts section!

Many ways to trade any market, many ways to lose money in any market and only very few ways to lock in gainsIf you need help creating a trading plan, visit our broker assist services.  

 

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.

If you like Our Futures Trading Daily Support and Resistance Levels, Please share!

Futures Trading Levels

Contract Sept. 2015 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2108.92 4616.92 17677 1247.27 99.06
Resistance 2 2102.58 4599.08 17617 1241.43 98.57
Resistance 1 2094.17 4579.17 17544 1233.67 98.29
Pivot 2087.83 4561.33 17484 1227.83 97.80
Support 1 2079.42 4541.42 17411 1220.07 97.51
Support 2 2073.08 4523.58 17351 1214.23 97.02
Support 3 2064.67 4503.67 17278 1206.47 96.74
Contract Dec. Gold Sept. Silver Sept. Crude Oil Sept. Bonds Sept.   Euro
Resistance 3 1109.0 14.95 47.21 158 17/32 1.1073
Resistance 2 1101.7 14.79 46.72 158 6/32 1.1033
Resistance 1 1094.8 14.67 46.27 157 14/32 1.0967
Pivot 1087.5 14.51 45.78 157 3/32 1.0927
Support 1 1080.6 14.39 45.33 156 11/32 1.0861
Support 2 1073.3 14.23 44.84 156 1.0821
Support 3 1066.4 14.11 44.39 155 8/32 1.0755
Contract Dec. Corn Sept. Wheat Nov Beans Dec. SoyMeal Sept. Nat Gas
Resistance 3 388.4 516.9 955.83 335.10 2.90
Resistance 2 385.6 511.8 952.42 331.10 2.86
Resistance 1 382.2 502.7 947.33 328.30 2.84
Pivot 379.3 497.6 943.92 324.30 2.79
Support 1 375.9 488.4 938.8 321.5 2.8
Support 2 373.1 483.3 935.42 317.50 2.72
Support 3 369.7 474.2 930.33 314.70 2.70
Economic Reports

source:http://www.forexfactory.com/calendar.php

All times are Eastern time Zone (EST)

Date 4:29pm Currency Impact Detail Actual Forecast Previous Graph
WedAug 5  3:15am EUR Spanish Services PMI 55.8 56.1
3:45am EUR Italian Services PMI 53.2 53.4
3:50am EUR French Final Services PMI 52.1 52.0
3:55am EUR German Final Services PMI 53.7 53.7
4:00am EUR Final Services PMI 53.8 53.8
EUR Italian Industrial Production m/m -0.2% 0.9%
5:00am EUR Retail Sales m/m -0.1% 0.2%
8:15am USD ADP Non-Farm Employment Change 216K 237K
8:30am USD Trade Balance -42.8B -41.9B
9:45am USD Final Services PMI 55.2 55.2
10:00am USD ISM Non-Manufacturing PMI 56.3 56.0
10:30am USD Crude Oil Inventories -1.3M -4.2M

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 judgment in trading.

 

Tags: > > > Posted in: Commodity Trading   | Day Trading   | Future Trading News   | Futures Trading  

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