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Webinar – Getting Started With Scalping 12.14.2016

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Two main notices today:

1. We will have a webinar tomorrow right after the close on getting started in scalping.
2. We have FOMC coming out tomorrow – some notes on that as well!

1. Join us for a webinar on Dec 14, 2016 at 1:00 PM PST.

Getting Started in Scalping/Ultra Short Term Trading

Register now!

https://attendee.gotowebinar.com/register/8467547232373354500  

Join us for a 60 -minute webinar on Wednesday Dec 14th at 3:00 P.M., Central Time.

The term ‘scalping’ now covers many different styles of trading with one common trait. You are in and out of the market in a very short time period. Frequency of trades is usually but not always high.

In this webinar, we’ll look at specific techniques for short term trading and why you might want to consider using these techniques.

– The benefits and risks of short term trading
– Market making techniques
– Market state – when to scalp
– The role of correlated markets
– Scalping volatility
– Scalping around volume
– Scalping around depth/front running the front runners
– Scalping mid-leg absorption
– Scalping around high visibility areas
– Stops – definitely not what you think

Risk free demo will be available.

SPACE is LIMITED, so reserve your space now! https://attendee.gotowebinar.com/register/8467547232373354500  

Risk: 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

After registering, you will receive a confirmation email containing information about joining the webinar.

2. The second, tomorrow is  FOMC meeting.

Be careful.

The FOMC interest rate decision is due at 2:15 ET in the US tomorrow as well as Crude Oil Inventories earlier that day.

FOMC days have different characteristics than other trading days. If you have traded for a while, check your trading notes from past FOMC days that may help you prepare for tomorrow.

if you are a newcomer, take a more conservative approach and make sure you understand that the news can really move the market.

The following are suggestions on trading during FOMC days:

  • 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 2165.00 with a stop at 2159.00, instead “stretch the price bands” due to volatility and place an entry order to buy at 2159.75 and place a stop a few points below in this hypothetical example.
  • Expect the higher volatility during and right after the announcement
  • Expect to see some “vacuum” ( low volume, big zigzags) right before the number.
  • Consider using automated stops and limits attached to your entry order as the market can move very fast at times.
  • Know what the market was expecting, learn what came out and observe market reaction for clues
  • Be patient and be disciplined

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

Levels for Trade Date of 12.14.2016

Contract Dec. 2016 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2303.33 5081.33 20121 1401.97 101.67
Resistance 2 2288.17 5021.42 20011 1393.53 101.43
Resistance 1 2278.08 4979.33 19935 1383.77 101.26
Pivot 2262.92 4919.42 19825 1375.33 101.02
Support 1 2252.83 4877.33 19749 1365.57 100.85
Support 2 2237.67 4817.42 19639 1357.13 100.61
Support 3 2227.58 4775.33 19563 1347.37 100.44
Contract Feb. Gold March Silver Jan. Crude Oil Mar. Bonds Dec.   Euro
Resistance 3 1177.0 17.59 54.46 150 24/32 1.0726
Resistance 2 1172.0 17.41 53.93 150 7/32 1.0698
Resistance 1 1166.3 17.19 53.40 149 18/32 1.0663
Pivot 1161.3 17.01 52.87 149 1/32 1.0635
Support 1 1155.6 16.79 52.34 148 12/32 1.0599
Support 2 1150.6 16.61 51.81 147 27/32 1.0571
Support 3 1144.9 16.39 51.28 147 6/32 1.0536
Contract March Corn March Wheat Jan. Beans March SoyMeal Jan. Nat Gas
Resistance 3 369.6 425.9 1049.58 322.47 3.67
Resistance 2 367.2 423.3 1044.17 320.63 3.62
Resistance 1 364.1 420.4 1036.08 317.87 3.54
Pivot 361.7 417.8 1030.67 316.03 3.50
Support 1 358.6 414.9 1022.6 313.3 3.4
Support 2 356.2 412.3 1017.17 311.43 3.37
Support 3 353.1 409.4 1009.08 308.67 3.28

source:http://www.forexfactory.com/calendar.phpAll times are Eastern time Zone (EST)

Date 10:28am Currency Impact Detail Actual Forecast Previous Graph
WedDec 14 2:45am EUR
French Final CPI m/m
0.0% 0.0%
4:30am GBP
Average Earnings Index 3m/y
2.3% 2.3%
GBP
Claimant Count Change
6.2K 9.8K
GBP
Unemployment Rate
4.8% 4.8%
5:00am EUR
Industrial Production m/m
0.2% -0.8%
7:15am GBP
BOE Gov Carney Speaks
8:30am USD
Core Retail Sales m/m
0.4% 0.8%
USD
PPI m/m
0.1% 0.0%
USD
Retail Sales m/m
0.3% 0.8%
USD
Core PPI m/m
0.2% -0.2%
9:15am USD
Capacity Utilization Rate
75.1% 75.3%
USD
Industrial Production m/m
-0.2% 0.0%
10:00am USD
Business Inventories m/m
-0.1% 0.1%
10:30am USD
Crude Oil Inventories
-2.4M
2:00pm USD
FOMC Economic Projections
USD
FOMC Statement
USD
Federal Funds Rate
<0.75% <0.50%
2:30pm USD
FOMC Press Conference

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.

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

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