Volatility is Back! & Trading Levels for 11-01-2018 - Support & Resistance Levels

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.

Volatility is Back! & Trading Levels for 11-01-2018


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Dear Traders,

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Equity markets ( emini indices for most of us) are VERY volatile. For some traders, it is not an easy task to say the least….
I have an automated system I run on the mini NASDAQ and in one week it had both its best day ever and its worst day ever…..so be careful, trading is hard as is but can be even harder for most traders when volatility is at extremes.
Control your emotions and don’t let yourself lose control because in market conditions like this, losing control can mean losing your account……
Here are a few tips I can share as personal opinion:
  • Reduce trading size
  • 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 2925.00 with a stop at 2919.00, instead “stretch the price bands” due to volatility and place an entry order to buy at 2919.75 and place a stop a few points below in this hypothetical example ( consider current volatility along with support and resistance levels).
  • Consider using automated stops and limits attached to your entry order as the market can move very fast at times.
  • Be patient and be disciplined
  • If you had a couple of losers in a row, step away, take a breathe, try to “reset yourself”
  • If in doubt, stay out!!



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 3:36pm Currency Impact Detail Actual Forecast Previous Graph
ThuNov 1  3:00am GBP
Nationwide HPI m/m
0.2% 0.3%
All Day EUR
French Bank Holiday
All Day EUR
Italian Bank Holiday
5:30am GBP
Manufacturing PMI
53.0 53.8
7:30am USD
Challenger Job Cuts y/y
8:00am GBP
BOE Inflation Report
MPC Official Bank Rate Votes
0-0-9 0-0-9
Monetary Policy Summary
MPC Asset Purchase Facility Votes
0-0-9 0-0-9
Official Bank Rate
0.75% 0.75%
Asset Purchase Facility
435B 435B
8:30am GBP
BOE Gov Carney Speaks
Prelim Nonfarm Productivity q/q
2.2% 2.9%
Prelim Unit Labor Costs q/q
1.1% -1.0%
Unemployment Claims
213K 215K
9:45am USD
Final Manufacturing PMI
55.9 55.9
10:00am USD
ISM Manufacturing PMI
59.0 59.8
Construction Spending m/m
0.2% 0.1%
ISM Manufacturing Prices
67.5 66.9
10:30am USD
Natural Gas Storage
53B 58B
All Day USD
Total Vehicle Sales
17.1M 17.4M

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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