Using Range Bars for Day Trading – Support & Resistance Levels 7.27.2018

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I have mentioned before that I like range bar charts and volume charts better than time charts for day trading.
The main reason is that when you are using time charts, lets say 3 minute bars, you have to wait for the bar to close in order to confirm your signals. In today’s market environment there are times when 3 minutes can translate for big $$ against you or in your favor…
( like today right at the cash close 3 PM CDT, Amazon Earnings came out and sent the NQ futures up and down almost 70 points in minutes!!)
Range bar charts and volume charts will complete FAST when the market is moving and will take much longer to build when the market is dead ( hence helps filter out some of the noise in my opinion).
I shared more on this topic in a video that while it focuses on crude oil as an example, the concept can be used for many other markets.
Check out the video at ( it is the 3rd video on the list):

 

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

07-27-2018

 

Contract September 2018  SP500 #ES_F Nasdaq100  #NQ_F Dow Jones  #YM_F Mini Russell #RTY_F BitCoin Index #XBT_F
Resistance 3 2861.33 7554.00 25776 1729.70 8489.44
Resistance 2 2853.92 7502.00 25672 1718.70 8400.33
Resistance 1 2848.08 7466.00 25600 1709.50 8334.09
Pivot 2840.67 7414.00 25496 1698.50 8244.98
Support 1 2834.83 7378.00 25424 1689.30 8178.74
Support 2 2827.42 7326.00 25320 1678.30 8089.63
Support 3 2821.58 7290.00 25248 1669.10 8023.39
Contract August Gold #GC_F Sept. Silver #SI-F Sept. Crude Oil #CL-F Sept.  Bonds  #ZB_F Sept.  Euro #6E_F
Resistance 3 1244.8 15.92 71.07 143 19/32 1.1862
Resistance 2 1240.1 15.81 70.50 143 14/32 1.1825
Resistance 1 1231.2 15.62 70.07 143  1/32 1.1757
Pivot 1226.5 15.51 69.50 142 28/32 1.1720
Support 1 1217.6 15.32 69.07 142 15/32 1.1652
Support 2 1212.9 15.21 68.50 142 10/32 1.1615
Support 3 1204.0 15.02 68.07 141 29/32 1.1547
Contract Dec.  Corn #ZC_F Sept. Wheat #ZW_F Nov. Beans #ZS_F Dec. SoyMeal #ZM_F Sept. Nat Gas #NG_F
Resistance 3 384.0 571.3 910.67 342.00 2.80
Resistance 2 381.8 562.5 903.33 339.30 2.79
Resistance 1 378.8 549.5 889.67 335.50 2.77
Pivot 376.5 540.8 882.33 332.80 2.76
Support 1 373.5 527.8 868.7 329.0 2.7
Support 2 371.3 519.0 861.33 326.30 2.73
Support 3 368.3 506.0 847.67 322.50 2.71

Economic Reports, source: 

http://app.bettertrader.co 

 

 

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.

Posted in: Future Trading News  

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