{"id":11184,"date":"2016-04-21T12:13:50","date_gmt":"2016-04-21T20:13:50","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=11184"},"modified":"2016-04-27T22:34:12","modified_gmt":"2016-04-28T06:34:12","slug":"using-tick-volume-charts-future-day-traders-4-22-2016","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/using-tick-volume-charts-future-day-traders-4-22-2016\/","title":{"rendered":"Using Tick and Volume Charts for Future Day Traders 4.22.2016"},"content":{"rendered":"

Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed.
\n<\/strong>
\n\"Like<\/a>\"Follow<\/a>\"View<\/a>\"Find<\/a>\"Cannon<\/a>\"Find<\/a><\/p>\n

1.\u00a0Market Commentary<\/a><\/strong>
\n2.\u00a0Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index<\/a><\/strong>
\n3.\u00a0Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds<\/a><\/strong>
\n4.\u00a0Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver<\/a><\/strong>
\n5.\u00a0Futures Economic Reports for Friday April 22, 20<\/strong><\/a><\/strong>16<\/strong><\/a><\/p>\n

Hello Traders,<\/strong><\/p>\n

For\u00a02016\u00a0I would like to wish all of you discipline and patience in your trading!<\/i><\/p>\n

Voted #1 futures trading blog!<\/a><\/p>\n

Greetings!<\/p>\n

Why I like to use tick and volume charts for scalping<\/b><\/p>\n

Today I decided to touch more on an educational feature rather than provide a certain market outlook.<\/p>\n

Many of my clients and\u00a0blog readers\u00a0know that when it comes to\u00a0short term\u00a0trading I am a fan of using volume charts, tick charts, range bar charts and Renko charts rather than the traditional time charts like the 1 minutes, 5 minutes etc.<\/p>\n

My rule of thumb is that if you as a trader make decisions based on charts that are less than 15 minutes time frame, it may be worth your time to research, back test and do some homework as to potentially using\u00a0other type\u00a0of charts like volume charts , Range charts etc.<\/p>\n

Volume charts will draw a new bar once a user defined\u00a0number\u00a0of contracts traded. Example mini SP 10,000 volume chart will draw a new bar once 10,000 contracts traded.<\/p>\n

Range bar charts will draw new charts once price action has exceeded a user\u00a0pre define\u00a0price or ticks range.\u00a0Example\u00a0might be an 18 ticks range bar chart on crude oil.<\/p>\n

While the volume charts rely ONLY on volume, the range bar charts rely ONLY on price action.<\/p>\n

Their main advantage over traditional time charts is twofold in my opinion:<\/p>\n

1. If the market is moving fast, reports came out or there is heavy volume in the market, the traditional\u00a05 minute\u00a0chart will need 5 minutes to complete the next bar before it provides you with a signal…if you day traded futures before you will know what 5 minutes can do….The volume charts or range bar\u00a0charts in this case\u00a0will complete the bars MUCH faster because there\u00a0is\u00a0strong price action and strong volume and will be able to provide a signal faster than the time charts.<\/p>\n

2. On the flip side, there are times when the market is dead…low volume, sideways, choppy action. If you are using the\u00a03 minute\u00a0chart and a moving\u00a0avg. cross over, you may get a signal\u00a0simple\u00a0because time has passed and the moving averages crossed even though the market is pretty dead….If you are using a volume chart and the market is slow…it will take a while for the bars to complete and hence it may filter out some “noise” in the market.<\/p>\n

Below is an example of range chart with mini Russell. If you\u00a0like a free trial for our signals like the ones below<\/a>\u00a0or to discuss more in depth different charts and strategies,\u00a0feel free to contact us!<\/a><\/p>\n

\n
\"Russell<\/div>\n<\/div>\n

\u00a0<\/span>Featured System of the Month ( including real-time performance):\u00a0<\/strong>Axiom Index II WFO NQ Trading System<\/a><\/strong><\/p>\n

\n
\n

GOOD TRADING<\/strong><\/p>\n

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.<\/p>\n<\/div>\n

If you like Our Futures Trading Daily Support and Resistance Levels, Please share!<\/strong><\/div>\n<\/div>\n

Futures Trading Levels<\/a><\/strong><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Contract June 2016<\/td>\nSP500<\/td>\nNasdaq100<\/td>\nDow Jones<\/td>\nMini Russell<\/td>\nDollar Index<\/td>\n<\/tr>\n
Resistance 3<\/td>\n2122.50<\/td>\n4595.42<\/td>\n18239<\/td>\n1154.30<\/td>\n95.75<\/td>\n<\/tr>\n
Resistance 2<\/td>\n2113.25<\/td>\n4573.58<\/td>\n18159<\/td>\n1148.40<\/td>\n95.22<\/td>\n<\/tr>\n
Resistance 1<\/td>\n2100.75<\/td>\n4557.92<\/td>\n18044<\/td>\n1141.50<\/td>\n94.91<\/td>\n<\/tr>\n
Pivot<\/td>\n2091.50<\/td>\n4536.08<\/td>\n17964<\/td>\n1135.60<\/td>\n94.38<\/td>\n<\/tr>\n
Support 1<\/td>\n2079.00<\/td>\n4520.42<\/td>\n17849<\/td>\n1128.70<\/td>\n94.07<\/td>\n<\/tr>\n
Support 2<\/td>\n2069.75<\/td>\n4498.58<\/td>\n17769<\/td>\n1122.80<\/td>\n93.54<\/td>\n<\/tr>\n
Support 3<\/td>\n2057.25<\/td>\n4482.92<\/td>\n17654<\/td>\n1115.90<\/td>\n93.23<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Contract<\/td>\nJune Gold<\/td>\nMay Silver<\/td>\nJune Crude Oil<\/td>\nJune Bonds<\/td>\nJune \u00a0 Euro<\/td>\n<\/tr>\n
Resistance 3<\/td>\n1296.1<\/td>\n18.57<\/td>\n45.83<\/td>\n165 3\/32<\/td>\n1.1517<\/td>\n<\/tr>\n
Resistance 2<\/td>\n1284.2<\/td>\n18.14<\/td>\n45.16<\/td>\n164 14\/32<\/td>\n1.1467<\/td>\n<\/tr>\n
Resistance 1<\/td>\n1268.1<\/td>\n17.60<\/td>\n44.39<\/td>\n163 16\/32<\/td>\n1.1387<\/td>\n<\/tr>\n
Pivot<\/td>\n1256.2<\/td>\n17.18<\/td>\n43.72<\/td>\n162 27\/32<\/td>\n1.1337<\/td>\n<\/tr>\n
Support 1<\/td>\n1240.1<\/td>\n16.64<\/td>\n42.95<\/td>\n161 29\/32<\/td>\n1.1256<\/td>\n<\/tr>\n
Support 2<\/td>\n1228.2<\/td>\n16.21<\/td>\n42.28<\/td>\n161 8\/32<\/td>\n1.1206<\/td>\n<\/tr>\n
Support 3<\/td>\n1212.1<\/td>\n15.67<\/td>\n41.51<\/td>\n160 10\/32<\/td>\n1.1126<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Contract<\/td>\nJuly Corn<\/td>\nJuly Wheat<\/td>\nJuly Beans<\/td>\nJuly SoyMeal<\/td>\nMay Nat Gas<\/td>\n<\/tr>\n
Resistance 3<\/td>\n420.3<\/td>\n536.2<\/td>\n1061.25<\/td>\n351.63<\/td>\n2.15<\/td>\n<\/tr>\n
Resistance 2<\/td>\n413.8<\/td>\n527.3<\/td>\n1048.00<\/td>\n343.07<\/td>\n2.13<\/td>\n<\/tr>\n
Resistance 1<\/td>\n401.8<\/td>\n515.4<\/td>\n1037.75<\/td>\n335.53<\/td>\n2.09<\/td>\n<\/tr>\n
Pivot<\/td>\n395.3<\/td>\n506.6<\/td>\n1024.50<\/td>\n326.97<\/td>\n2.07<\/td>\n<\/tr>\n
Support 1<\/td>\n383.3<\/td>\n494.7<\/td>\n1014.3<\/td>\n319.4<\/td>\n2.0<\/td>\n<\/tr>\n
Support 2<\/td>\n376.8<\/td>\n485.8<\/td>\n1001.00<\/td>\n310.87<\/td>\n2.02<\/td>\n<\/tr>\n
Support 3<\/td>\n364.8<\/td>\n473.9<\/td>\n990.75<\/td>\n303.33<\/td>\n1.99<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Economic Reports<\/strong><\/p>\n

source:http:\/\/www.forexfactory.com\/calendar.php<\/a><\/h3>\n

All times are Eastern time Zone (EST<\/a>)<\/h3>\n
<\/div>\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Date<\/th>\n3:55pm<\/a><\/th>\nCurrency<\/th>\nImpact<\/th>\n<\/th>\nDetail<\/th>\nActual<\/th>\nForecast<\/th>\nPrevious<\/th>\nGraph<\/th>\n<\/tr>\n<\/thead>\n
<\/td>\n<\/tr>\n
FriApr 22<\/td>\n<\/a>\u00a03:00am<\/td>\nEUR<\/td>\n<\/td>\nFrench Flash Manufacturing PMI<\/td>\n<\/td>\n<\/td>\n49.9<\/td>\n49.6<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nEUR<\/td>\n<\/td>\nFrench Flash Services PMI<\/td>\n<\/td>\n<\/td>\n50.2<\/td>\n49.9<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n3:30am<\/td>\nEUR<\/td>\n<\/td>\nGerman Flash Manufacturing PMI<\/td>\n<\/td>\n<\/td>\n51.0<\/td>\n50.7<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nEUR<\/td>\n<\/td>\nGerman Flash Services PMI<\/td>\n<\/td>\n<\/td>\n55.1<\/td>\n55.1<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n4:00am<\/td>\nEUR<\/td>\n<\/td>\nFlash Manufacturing PMI<\/td>\n<\/td>\n<\/td>\n51.8<\/td>\n51.6<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nEUR<\/td>\n<\/td>\nFlash Services PMI<\/td>\n<\/td>\n<\/td>\n53.3<\/td>\n53.1<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n5:00am<\/td>\nEUR<\/td>\n<\/td>\nItalian Retail Sales m\/m<\/td>\n<\/td>\n<\/td>\n0.2%<\/td>\n0.0%<\/td>\n<\/td>\n<\/tr>\n
<\/td>\nDay 1<\/td>\nEUR<\/td>\n<\/td>\nECOFIN Meetings<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\nAll Day<\/td>\nEUR<\/td>\n<\/td>\nEurogroup Meetings<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n9:45am<\/td>\nUSD<\/td>\n<\/td>\nFlash Manufacturing PMI<\/td>\n<\/td>\n<\/td>\n51.9<\/td>\n51.5<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

This is not a solicitation of any order to buy or sell, but a current market view provided by <\/span>Cannon Trading Inc<\/a>. 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.<\/span>\u00a0<\/strong><\/h3>\n","protected":false},"excerpt":{"rendered":"

Connect with Us! Use Our Futures Trading Levels and Economic Reports RSS Feed. 1.\u00a0Market Commentary 2.\u00a0Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index 3.\u00a0Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds 4.\u00a0Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver 5.\u00a0Futures Economic Reports for Friday […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[230,67,234],"tags":[949,897,16],"class_list":["post-11184","post","type-post","status-publish","format-standard","hentry","category-day-trading-2","category-future-trading-news","category-trading-guide","tag-future-trading-news","tag-futures-day-trading-guide","tag-futures-trading"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/11184","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/comments?post=11184"}],"version-history":[{"count":4,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/11184\/revisions"}],"predecessor-version":[{"id":11186,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/11184\/revisions\/11186"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=11184"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=11184"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=11184"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}