{"id":14349,"date":"2018-06-11T12:09:18","date_gmt":"2018-06-11T20:09:18","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=14349"},"modified":"2018-06-11T12:09:18","modified_gmt":"2018-06-11T20:09:18","slug":"insight-day-trading-gold-futures-trading-levels-6-12-2018","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/insight-day-trading-gold-futures-trading-levels-6-12-2018\/","title":{"rendered":"Insight into day trading gold futures & Trading Levels for 6.12.2018"},"content":{"rendered":"

____________________________________________________________________<\/span><\/b><\/em><\/p>\n

Voted #1 Blog and #1 Brokerage Services on\u00a0TraderPlanet\u00a0<\/a>for 2016!!\u00a0\u00a0<\/span><\/b><\/em><\/p>\n

____________________________________________________________________<\/span><\/b><\/em><\/p>\n

Dear Traders,<\/p>\n

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The following article was written by my colleague John Thorpe<\/strong>\u00a0and offers valuable insight into\u00a0day trading gold futures<\/strong>\u00a0specifically and most other futures markets in general.<\/div>\n
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Enjoy!<\/div>\n
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Day Trading Comex Gold Futures<\/strong><\/div>\n
(Contrary to Conventional Wisdom)<\/div>\n
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By: John Thorpe, Cannon Trading Senior Broker<\/strong><\/div>\n
\u00a0<\/strong><\/div>\n
Markets are forward looking. Today’s price is as much a reflection of yesterday’s fears, needs , wants and desires as the current reaction to a political leader rattling sabers, or the effect that a surprise Government Report\u00a0 will have on the prices of a security or commodity.<\/div>\n
Contrary to conventional wisdom, Day Traders tend to be well educated and well capitalized.<\/div>\n
Risk takers, by any other name, Wildcat oil drillers? Computer geeks working out of their parent’s garage? Mom and Pop managing their hard earned 401k’s; The Day trading approach is not very different from any other investing approach, with one major distinction from other risk takers who operate on a much greater time horizon. \u00a0As a day trader, you open an investment and close an investment between sunup and sundown and often many times during a market session.\u00a0 One of the greatest risks that day traders must avoid is gauging their success or failure within that same sunup to sundown time frame. I like to call this a\u00a0fiction trap. A\u00a0fiction trap\u00a0occurs when the day trader believes that once he has a good day trading, his subsequent days will always yield the same results. The\u00a0fiction trap\u00a0results in unrealistic expectations for success.\u00a0 The Market, like the ocean current, is sometimes similar in repetition, but rarely identical in motion. When risk takers begin the process of assessing a strategy, they do it with the long view in mind.<\/div>\n
By taking a longer view of returns, like all other risk takers, you can avoid the\u00a0fiction trap\u00a0of unrealistic expectations by incorporating the\u00a0Rule of 72\u00a0into your long-range plans. The\u00a0Rule of 72\u00a0is a formula that tells you how quickly (given a rate of return) it will take for your account size to double. Although your account size can double in one day trading futures, it is rare to hold on to those gains. The\u00a0Rule of 72forces you to be patient, emotionally subdued, and in line with long-term goals.<\/div>\n
To read the rest of the article, click here<\/a><\/div>\n<\/div>\n<\/div>\n
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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.\u00a0 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

Futures Trading Levels<\/strong><\/p>\n

06-12-2018<\/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 September 2018<\/td>\n\u00a0SP500 #ES_F<\/td>\nNasdaq100\u00a0 #NQ_F<\/td>\nDow Jones\u00a0 #YM_F<\/td>\nMini Russell #RTY_F<\/td>\nBitCoin Index #XBT_F<\/td>\n<\/tr>\n
Resistance 3<\/td>\n2815.25<\/td>\n7284.75<\/td>\n25580<\/td>\n1692.47<\/td>\n8466.57<\/td>\n<\/tr>\n
Resistance 2<\/td>\n2804.75<\/td>\n7249.75<\/td>\n25499<\/td>\n1685.53<\/td>\n8079.01<\/td>\n<\/tr>\n
Resistance 1<\/td>\n2795.00<\/td>\n7220.75<\/td>\n25419<\/td>\n1680.37<\/td>\n7418.18<\/td>\n<\/tr>\n
Pivot<\/td>\n2784.50<\/td>\n7185.75<\/td>\n25338<\/td>\n1673.43<\/td>\n7030.62<\/td>\n<\/tr>\n
Support 1<\/td>\n2774.75<\/td>\n7156.75<\/td>\n25258<\/td>\n1668.27<\/td>\n6369.79<\/td>\n<\/tr>\n
Support 2<\/td>\n2764.25<\/td>\n7121.75<\/td>\n25177<\/td>\n1661.33<\/td>\n5982.23<\/td>\n<\/tr>\n
Support 3<\/td>\n2754.50<\/td>\n7092.75<\/td>\n25097<\/td>\n1656.17<\/td>\n5321.40<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Contract<\/td>\nAugust Gold #GC_F<\/td>\nJuly Silver #SI-F<\/td>\nJuly Crude Oil #CL-F<\/td>\nSept.\u00a0 Bonds\u00a0 #ZB_F<\/td>\nJune\u00a0 Euro #6E_F<\/td>\n<\/tr>\n
Resistance 3<\/td>\n1317.5<\/td>\n17.24<\/td>\n68.15<\/td>\n143 27\/32<\/td>\n1.1869<\/td>\n<\/tr>\n
Resistance 2<\/td>\n1312.2<\/td>\n17.11<\/td>\n67.25<\/td>\n143 17\/32<\/td>\n1.1848<\/td>\n<\/tr>\n
Resistance 1<\/td>\n1308.3<\/td>\n17.03<\/td>\n66.65<\/td>\n143\u00a0 7\/32<\/td>\n1.1819<\/td>\n<\/tr>\n
Pivot<\/td>\n1303.0<\/td>\n16.90<\/td>\n65.75<\/td>\n142 29\/32<\/td>\n1.1798<\/td>\n<\/tr>\n
Support 1<\/td>\n1299.1<\/td>\n16.83<\/td>\n65.15<\/td>\n142 19\/32<\/td>\n1.1770<\/td>\n<\/tr>\n
Support 2<\/td>\n1293.8<\/td>\n16.70<\/td>\n64.25<\/td>\n142\u00a0 9\/32<\/td>\n1.1749<\/td>\n<\/tr>\n
Support 3<\/td>\n1289.9<\/td>\n16.62<\/td>\n63.65<\/td>\n141 31\/32<\/td>\n1.1720<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Contract<\/td>\nJuly\u00a0 Corn #ZC_F<\/td>\nJuly Wheat #ZW_F<\/td>\nJuly Beans #ZS_F<\/td>\nJuly SoyMeal #ZM_F<\/td>\nJuly Nat Gas #NG_F<\/td>\n<\/tr>\n
Resistance 3<\/td>\n383.4<\/td>\n531.9<\/td>\n978.58<\/td>\n365.13<\/td>\n3.03<\/td>\n<\/tr>\n
Resistance 2<\/td>\n380.1<\/td>\n527.3<\/td>\n973.42<\/td>\n362.27<\/td>\n3.00<\/td>\n<\/tr>\n
Resistance 1<\/td>\n373.7<\/td>\n520.9<\/td>\n963.58<\/td>\n356.73<\/td>\n2.97<\/td>\n<\/tr>\n
Pivot<\/td>\n370.3<\/td>\n516.3<\/td>\n958.42<\/td>\n353.87<\/td>\n2.94<\/td>\n<\/tr>\n
Support 1<\/td>\n363.9<\/td>\n509.9<\/td>\n948.6<\/td>\n348.3<\/td>\n2.9<\/td>\n<\/tr>\n
Support 2<\/td>\n360.6<\/td>\n505.3<\/td>\n943.42<\/td>\n345.47<\/td>\n2.89<\/td>\n<\/tr>\n
Support 3<\/td>\n354.2<\/td>\n498.9<\/td>\n933.58<\/td>\n339.93<\/td>\n2.86<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Economic Reports, source:\u00a0<\/strong><\/p>\n

http:\/\/app.bettertrader.co\u00a0<\/a><\/p>\n

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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\u00a0here in\u00a0contained are derived from sources believed to be\u00a0reliable,\u00a0but are not guaranteed as to\u00a0accuracy, 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\u00a0judgement\u00a0in trading.<\/p>\n","protected":false},"excerpt":{"rendered":"

____________________________________________________________________ Voted #1 Blog and #1 Brokerage Services on\u00a0TraderPlanet\u00a0for 2016!!\u00a0\u00a0 ____________________________________________________________________ Dear Traders, The following article was written by my colleague John Thorpe\u00a0and offers valuable insight into\u00a0day trading gold futures\u00a0specifically and most other futures markets in general. Enjoy! Day Trading Comex Gold Futures (Contrary to Conventional Wisdom) By: John Thorpe, Cannon Trading Senior Broker \u00a0 […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[67],"tags":[],"class_list":["post-14349","post","type-post","status-publish","format-standard","hentry","category-future-trading-news"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/14349","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=14349"}],"version-history":[{"count":1,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/14349\/revisions"}],"predecessor-version":[{"id":14350,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/14349\/revisions\/14350"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=14349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=14349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=14349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}