Weekly Newsletter: Intraday Automated Bond (ZB) Systems, Wheat Daily Chart + Futures Trading Levels for Nov. 13th - 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.

Weekly Newsletter: Intraday Automated Bond (ZB) Systems, Wheat Daily Chart + Futures Trading Levels for Nov. 13th

Cannon Futures Weekly Newsletter Issue # 1171

 

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In this issue:

  • Important Notices – Thank you Veterans!
  • Trading Resource of the Week – 2Essentials of Order Flow
  • Hot Market of the Week – March Wheat
  • Broker’s Trading System of the Week – ZB Day Trading System
  • Trading Levels for Next Week
  • Trading Reports for Next Week
  • Important Notices – Thank you Veterans!

We salute to all US Vets, Saturday is Veterans Day is a federal holiday, most government agencies and schools are closed. Thank you for fighting for our freedom and your service!!
The U.S. House must, at a minimum pass a continuing resolution by Friday November 17th to keep the Government open. That is the deadline for either a complete budget or a continuing stop gap resolution.
Tuesday: CPI @ 7:30 a.m. CST  Earnings-HD Home depot after the close
Wednesday: PPI @ 7;30 A.M. CST Earnings-CSCO Cisco and TGT target after the close
Thursday: Pre open WMT Walmart earnings and BABA Alibaba.
Some of the softs (Sugar, Cocoa) active month is already March 2024. Check volume or check with your broker.

  • click above for a LIVE demo, streaming prices

 

  • Trading Resource of the Week 

Essentials of Order Flow – FREE PDF

Order Flow has been presented as a mystique to potential Traders as well as seasoned Traders. In many cases it is assumed to be an insanely difficult concept to understand. Order Flow is, at its core, the transaction between a Buyer and a Seller. As a Veteran Trader using Order Flow to base my decisions, I can say that order flow is the very core of any market.
In this FREE booklet, you will learn:
·    What is order flow?
·    Volume by Price
·    Footprint
·    Time & Sales
·    DOM
·    Tying it all together
Hot market of the week is provided by QT Market Center, A swiss army knife charting package that’s not just for Hedgers, Cooperatives and Farmers alike but also for Spread traders, Swing traders and shorter time frame application for intraday traders with a unique proprietary indicator that can be applied to your specific trading needs.
March Wheat completed its second downside PriceCount objective and has developed a sideways range trade. At this point, IF the chart can resume its break with new sustained lows, the third count would project a possible run to the $5.08 area.
PriceCounts – Not about where we’ve been , but where we might be going next!
The PriceCount study is a tool that can help to project the distance of a move in price. The counts are not intended to be an ‘exact’ science but rather offer a target area for the four objectives which are based off the first leg of a move with each subsequent count having a smaller percentage of being achieved. It is normal for the chart to react by correcting or consolidating at an objective and then either resuming its move or reversing trend. Best utilized in conjunction with other technical tools, PriceCounts offer one more way to analyze charts and help to manage your positions and risk. Learn more at www.qtchartoftheday.com
Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors. Past performance of actual trades or strategies is not necessarily indicative of future results.
  • Broker’s Trading System of the Week

With algorithmic trading systems becoming more prevalent in portfolio diversification, the following system has been selected as the broker’s choice for this month.
PRODUCT
SYSTEM TYPE
Intraday
Recommended Cannon Trading Starting Capital
$15,000.00
COST
USD 65 / monthly
The performance shown above is hypothetical in that the chart represents returns in a model account. The model account rises or falls by the average single contract profit and loss achieved by clients trading actual money pursuant to the listed system’s trading signals on the appropriate dates (client fills), or if no actual client profit or loss available – by the hypothetical single contract profit and loss of trades generated by the system’s trading signals on that day in real time (real‐time) less slippage, or if no real time profit or loss available – by the hypothetical single contract profit and loss of trades generated by running the system logic backwards on back adjusted data. Please read full disclaimer HERE.
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  • Trading Levels for Next Week

Daily Levels for November 13th, 2023
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG

Trading Reports for Next Week
First Notice (FN), Last trading (LT) Days for the Week: www.mrci.com 

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 herein 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.

 

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.
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Watch 4 short videos on the topics of:
  • Using Bollinger Bands and Parabolics
  • Using range Bars for Day-Trading
  • The concept of Price Confirmation
  • How to Use Support & Resistance Levels
  • License 3 Broker at your Fingertips
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