{"id":14488,"date":"2018-08-27T12:13:24","date_gmt":"2018-08-27T20:13:24","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=14488"},"modified":"2018-08-27T12:20:51","modified_gmt":"2018-08-27T20:20:51","slug":"range-bar-chart-example-trading-levels-8-28-2018","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/range-bar-chart-example-trading-levels-8-28-2018\/","title":{"rendered":"Range Bar Chart Example & Trading Levels for 8.28.2018"},"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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Traditionally, the week before labor Day Weekend is slow….This is when many large traders and professional traders take their vacations with the plans of coming back to full speed trading after Labor day. Today was a perfect example of that. Slow, low energy trading. Obviously, if major news come out, this can change things rather quickly but today’s slow type of trading, low energy markets brings me to share with you once more why I like using range bar, Renko charts and volume charts rather than time charts for day trading.<\/div>\n
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Below you will see 2 charts.<\/div>\n
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Same markets, same time of the day and SAME INDICATORS….I think you will be able to see the advantages of using the range bar and volume charts in this examples:<\/div>\n
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Gold chart from today ( Aug. 27th) using 10 minutes time frame:<\/div>\n
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As you can see on the 10 minute chart, while we did get the blue buy arrow signal earlier, we also got two “fake” sell signals in the form of the red diamonds SIMPLY because time has passed, there was not much action in the market and the studies take on values as the bar closes.<\/div>\n
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Now look below , same time frame from today as well, using 24 tick RANGE bar chart:<\/div>\n
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No “fake” signals on this one…The ONLY signal we got today using this type of chart is the circled BLUE diamond. The range bars\u00a0only completed 10 bars today as the market was simple slow….<\/strong>But were able to catch the nice up move early in the morning. If you look back in the same chart ( going back to the 23 of the month) you actually see that out of 7 signals, 6 were what I consider legit.<\/div>\n
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If you like to use the same indicators I am sharing in the charts above, you can try these proprietary indicators and ALGO for 3 weeks. This comes with a 15 minutes one on one remote session explaining the concept ( if interested).<\/div>\n
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Free trial available.<\/a><\/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

08-28-2018<\/p>\n

 <\/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>\n2927.92<\/td>\n7659.83<\/td>\n26438<\/td>\n1751.33<\/td>\n7154.15<\/td>\n<\/tr>\n
Resistance 2<\/td>\n2913.58<\/td>\n7613.92<\/td>\n26260<\/td>\n1745.77<\/td>\n6958.79<\/td>\n<\/tr>\n
Resistance 1<\/td>\n2905.42<\/td>\n7590.58<\/td>\n26161<\/td>\n1738.03<\/td>\n6844.69<\/td>\n<\/tr>\n
Pivot<\/td>\n2891.08<\/td>\n7544.67<\/td>\n25983<\/td>\n1732.47<\/td>\n6649.33<\/td>\n<\/tr>\n
Support 1<\/td>\n2882.92<\/td>\n7521.33<\/td>\n25884<\/td>\n1724.73<\/td>\n6535.23<\/td>\n<\/tr>\n
Support 2<\/td>\n2868.58<\/td>\n7475.42<\/td>\n25706<\/td>\n1719.17<\/td>\n6339.87<\/td>\n<\/tr>\n
Support 3<\/td>\n2860.42<\/td>\n7452.08<\/td>\n25607<\/td>\n1711.43<\/td>\n6225.77<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Contract<\/td>\nDecember Gold #GC_F<\/td>\nSept. Silver #SI-F<\/td>\nOct. Crude Oil #CL-F<\/td>\nSept.\u00a0 Bonds\u00a0 #ZB_F<\/td>\nSept.\u00a0 Euro #6E_F<\/td>\n<\/tr>\n
Resistance 3<\/td>\n1230.2<\/td>\n15.09<\/td>\n69.79<\/td>\n146 17\/32<\/td>\n1.1837<\/td>\n<\/tr>\n
Resistance 2<\/td>\n1224.5<\/td>\n14.99<\/td>\n69.38<\/td>\n146\u00a0 7\/32<\/td>\n1.1774<\/td>\n<\/tr>\n
Resistance 1<\/td>\n1220.7<\/td>\n14.92<\/td>\n69.16<\/td>\n145 22\/32<\/td>\n1.1737<\/td>\n<\/tr>\n
Pivot<\/td>\n1215.0<\/td>\n14.82<\/td>\n68.75<\/td>\n145 12\/32<\/td>\n1.1675<\/td>\n<\/tr>\n
Support 1<\/td>\n1211.2<\/td>\n14.75<\/td>\n68.53<\/td>\n144 27\/32<\/td>\n1.1638<\/td>\n<\/tr>\n
Support 2<\/td>\n1205.5<\/td>\n14.65<\/td>\n68.12<\/td>\n144 17\/32<\/td>\n1.1575<\/td>\n<\/tr>\n
Support 3<\/td>\n1201.7<\/td>\n14.58<\/td>\n67.90<\/td>\n144<\/td>\n1.1538<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Contract<\/td>\nDec.\u00a0 Corn #ZC_F<\/td>\nDec. Wheat #ZW_F<\/td>\nNov. Beans #ZS_F<\/td>\nDec. SoyMeal #ZM_F<\/td>\nSept. Nat Gas #NG_F<\/td>\n<\/tr>\n
Resistance 3<\/td>\n369.8<\/td>\n541.0<\/td>\n870.33<\/td>\n322.93<\/td>\n2.94<\/td>\n<\/tr>\n
Resistance 2<\/td>\n366.5<\/td>\n537.0<\/td>\n861.92<\/td>\n319.47<\/td>\n2.93<\/td>\n<\/tr>\n
Resistance 1<\/td>\n364.0<\/td>\n529.8<\/td>\n855.08<\/td>\n315.03<\/td>\n2.90<\/td>\n<\/tr>\n
Pivot<\/td>\n360.8<\/td>\n525.8<\/td>\n846.67<\/td>\n311.57<\/td>\n2.89<\/td>\n<\/tr>\n
Support 1<\/td>\n358.3<\/td>\n518.5<\/td>\n839.8<\/td>\n307.1<\/td>\n2.9<\/td>\n<\/tr>\n
Support 2<\/td>\n355.0<\/td>\n514.5<\/td>\n831.42<\/td>\n303.67<\/td>\n2.85<\/td>\n<\/tr>\n
Support 3<\/td>\n352.5<\/td>\n507.3<\/td>\n824.58<\/td>\n299.23<\/td>\n2.82<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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

www.forexfactory.com<\/a><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Date<\/th>\n4:13pm<\/a><\/th>\nCurrency<\/th>\nImpact<\/th>\n<\/th>\nDetail<\/th>\nActual<\/th>\nForecast<\/th>\nPrevious<\/th>\nGraph<\/th>\n<\/tr>\n<\/thead>\n
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TueAug 28<\/span><\/td>\n<\/a>\u00a04:00am<\/span><\/td>\nEUR<\/td>\n\n
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M3 Money Supply y\/y<\/span><\/div>\n<\/td>\n
<\/td>\n<\/td>\n4.3%<\/td>\n4.4%<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nEUR<\/td>\n\n
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Private Loans y\/y<\/span><\/div>\n<\/td>\n
<\/td>\n<\/td>\n3.0%<\/td>\n2.9%<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n8:30am<\/td>\nUSD<\/td>\n\n
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Goods Trade Balance<\/span><\/div>\n<\/td>\n
<\/td>\n<\/td>\n-68.6B<\/td>\n-67.9B<\/span><\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nUSD<\/td>\n\n
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Prelim Wholesale Inventories m\/m<\/span><\/div>\n<\/td>\n
<\/td>\n<\/td>\n0.1%<\/td>\n0.1%<\/span><\/td>\n<\/td>\n<\/tr>\n
<\/td>\n9:00am<\/td>\nUSD<\/td>\n\n
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S&P\/CS Composite-20 HPI y\/y<\/span><\/div>\n<\/td>\n
<\/td>\n<\/td>\n6.4%<\/td>\n6.5%<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n10:00am<\/td>\nUSD<\/td>\n\n
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CB Consumer Confidence<\/span><\/div>\n<\/td>\n
<\/td>\n<\/td>\n126.6<\/td>\n127.4<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\nUSD<\/td>\n\n
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Richmond Manufacturing Index<\/span><\/div>\n<\/td>\n
<\/td>\n<\/td>\n18<\/td>\n20<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n7:01pm<\/td>\nGBP<\/td>\n\n
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BRC Shop Price Index y\/y<\/span><\/div>\n<\/td>\n
<\/td>\n<\/td>\n<\/td>\n-0.3%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\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, Like us on FaceBook! www.facebook.com\/CannonTrading Get Real Time updates and\u00a0market alerts on Twitter! Traditionally, the week before labor Day Weekend is slow….This is when many large traders and professional traders take their vacations with the plans of coming back to full speed […]<\/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-14488","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\/14488","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=14488"}],"version-history":[{"count":1,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/14488\/revisions"}],"predecessor-version":[{"id":14489,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/14488\/revisions\/14489"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=14488"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=14488"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=14488"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}