{"id":14584,"date":"2018-11-07T13:24:24","date_gmt":"2018-11-07T21:24:24","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=14584"},"modified":"2018-11-07T13:24:24","modified_gmt":"2018-11-07T21:24:24","slug":"fomc-support-resistance-levels-11-08-2018","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/fomc-support-resistance-levels-11-08-2018\/","title":{"rendered":"FOMC &#038; Support &#038; Resistance Levels 11.08.2018"},"content":{"rendered":"<p><em><b><span style=\"font-family: 'Georgia',serif; color: #333333;\">____________________________________________________________________<\/span><\/b><\/em><\/p>\n<p style=\"font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; text-align: start; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;\"><em><b><span style=\"font-family: 'Georgia',serif; color: #333333;\">Voted #1 Blog and #1 Brokerage Services on\u00a0<a href=\"http:\/\/r20.rs6.net\/tn.jsp?f=001U36v1hvtg4O6nrUU85R1W6sfGPKX0ynnFA_D82LpdwBdzw7hFFBsXcDEWOPaVpkBRhG4iwIIEW8dl5sm-Zy6FHhgwdfYQHIB3uhsIL_ukid7tjqwraQ_BoF0xII0Paftq6h0c0xvDjjkGFYQaQXS_PzGm2ZRdaCn-W0INLJ9pmxzYrJ3TUyLrKnbAV5ra33oeleZTVoQEDQ=&amp;c=&amp;ch=\" target=\"_blank\" rel=\"noopener\">TraderPlanet\u00a0<\/a>for 2016!!\u00a0\u00a0<\/span><\/b><\/em><\/p>\n<p style=\"font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; text-align: start; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;\"><em><b><span style=\"font-family: 'Georgia',serif; color: #333333;\">____________________________________________________________________<\/span><\/b><\/em><\/p>\n<p>Dear Traders,<\/p>\n<div align=\"left\">\n<div align=\"center\">\n<div align=\"center\">Like us on FaceBook!<\/div>\n<div align=\"center\"><a href=\"http:\/\/www.facebook.com\/CannonTrading\" target=\"_blank\" rel=\"noopener\" shape=\"rect\">www.facebook.com\/CannonTrading<\/a><\/div>\n<div align=\"center\"><\/div>\n<div align=\"center\">Get Real Time updates and\u00a0<a href=\"https:\/\/twitter.com\/CannonTrading\" target=\"_blank\" rel=\"noopener\" shape=\"rect\">market alerts on Twitter!<\/a><\/div>\n<\/div>\n<\/div>\n<div><\/div>\n<div>\n<div style=\"text-align: left;\" align=\"center\">\n<div><\/div>\n<\/div>\n<\/div>\n<div>\n<div>FOMC decision tomorrow<\/div>\n<div><\/div>\n<div><\/div>\n<div>According to Fed Funds Futures,<\/div>\n<div>No hike this week from FOMC<\/div>\n<div>The probability of another .25 hike this week stands at 5.9%<\/div>\n<div><\/div>\n<div><a href=\"https:\/\/www.cmegroup.com\/trading\/interest-rates\/countdown-to-fomc.html\" target=\"_blank\" rel=\"noopener\">https:\/\/www.cmegroup.com\/trading\/interest-rates\/countdown-to-fomc.html<\/a><\/div>\n<div>Market reaction will be language driven<\/div>\n<div><\/div>\n<div>Here is a guide to LIMIT moves in stock indices:<\/div>\n<div><\/div>\n<div><a href=\"https:\/\/www.cmegroup.com\/trading\/equity-index\/price-limit-guide.html\" target=\"_blank\" rel=\"noopener\">https:\/\/www.cmegroup.com\/trading\/equity-index\/price-limit-guide.html<\/a><\/div>\n<div><\/div>\n<div><\/div>\n<div>Just in case&#8230;..<\/div>\n<div><\/div>\n<div>Few tips when trading stock indices and interest rates on FOMC days:<\/div>\n<div><\/div>\n<div>The following are suggestions on trading during FOMC days:<\/div>\n<div><\/div>\n<ul>\n<li>Reduce trading size<\/li>\n<li>Be extra picky = no trade is better than a bad trade<\/li>\n<li>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 2925.00 with a stop at 2919.00, instead &#8220;stretch the price bands&#8221; due to volatility and place an entry order to buy at 2919.75 and place a stop a few points below in this hypothetical example ( consider current volatility along with support and resistance levels).<\/li>\n<li>Expect the higher volatility during and right after the announcement<\/li>\n<li>Expect to see some &#8220;vacuum&#8221; ( low volume, big zigzags) right before the number.<\/li>\n<li>Consider using automated stops and limits attached to your entry order as the market can move very fast at times.<\/li>\n<li>Know what the market was expecting, learn what came out and observe market reaction for clues<\/li>\n<li>Be patient and be disciplined<\/li>\n<li>If in doubt, stay out!!<\/li>\n<\/ul>\n<\/div>\n<p>&nbsp;<\/p>\n<p style=\"font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; text-align: start; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;\"><strong>Good Trading<\/strong><\/p>\n<p style=\"font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; text-align: start; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; word-spacing: 0px;\">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<p><strong>Futures Trading Levels<\/strong><\/p>\n<p>11-07-2018<\/p>\n<p>&nbsp;<\/p>\n<p><img decoding=\"async\" src=\"http:\/\/files.constantcontact.com\/3dc00ef7001\/3fad0c5c-2fa7-416d-92dc-dea3ad9db590.gif\" alt=\"\" title=\"\"><\/p>\n<p><a href=\"http:\/\/www.forexfactory.com\" target=\"_blank\" rel=\"noopener\"><br \/>\n<\/a><strong>Economic Reports, source:\u00a0<\/strong><\/p>\n<p><a href=\"http:\/\/www.forexfactory.com\" target=\"_blank\" rel=\"noopener\">www.forexfactory.com<\/a><\/p>\n<p>&nbsp;<\/p>\n<table class=\"calendar__table\">\n<thead>\n<tr class=\"calendar__header--desktop subhead\">\n<th class=\"calendar__date\">Date<\/th>\n<th class=\"calendar__time\"><a title=\"Time Options\" href=\"https:\/\/www.forexfactory.com\/timezone.php\" target=\"_blank\" rel=\"noopener\">4:22pm<\/a><\/th>\n<th class=\"calendar__currency\">Currency<\/th>\n<th class=\"calendar__impact\">Impact<\/th>\n<th class=\"calendar__event\"><\/th>\n<th class=\"calendar__detail\">Detail<\/th>\n<th class=\"calendar__actual\">Actual<\/th>\n<th class=\"calendar__forecast\">Forecast<\/th>\n<th class=\"calendar__previous\">Previous<\/th>\n<th class=\"calendar__graph\">Graph<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr class=\"calendar__borderfix borderfix\">\n<td><\/td>\n<\/tr>\n<tr class=\"calendar__row calendar_row calendar__row--new-day newday\" data-eventid=\"92811\" data-touchable=\"\">\n<td class=\"calendar__cell calendar__date date\"><span class=\"date\">ThuNov 8<\/span><\/td>\n<td class=\"calendar__cell calendar__time time\">2:00am<\/td>\n<td class=\"calendar__cell calendar__currency currency \" title=\"\">EUR<\/td>\n<td class=\"calendar__cell calendar__impact impact calendar__impact calendar__impact--low\">\n<div class=\"calendar__impact-icon calendar__impact-icon--screen\"><\/div>\n<\/td>\n<td class=\"calendar__cell calendar__event event\">\n<div><span class=\"calendar__event-title\">German Trade Balance<\/span><\/div>\n<\/td>\n<td class=\"calendar__cell calendar__detail detail\"><\/td>\n<td class=\"calendar__cell calendar__actual actual\"><\/td>\n<td class=\"calendar__cell calendar__forecast forecast\">18.2B<\/td>\n<td class=\"calendar__cell calendar__previous previous\">18.3B<\/td>\n<td class=\"calendar__cell calendar__graph graph\"><\/td>\n<\/tr>\n<tr class=\"calendar__row calendar_row\" data-eventid=\"86005\" data-touchable=\"\">\n<td class=\"calendar__cell calendar__date date\"><\/td>\n<td class=\"calendar__cell calendar__time time\">2:45am<\/td>\n<td class=\"calendar__cell calendar__currency currency \" title=\"\">EUR<\/td>\n<td class=\"calendar__cell calendar__impact impact calendar__impact calendar__impact--low\">\n<div class=\"calendar__impact-icon calendar__impact-icon--screen\"><\/div>\n<\/td>\n<td class=\"calendar__cell calendar__event event\">\n<div><span class=\"calendar__event-title\">French Trade Balance<\/span><\/div>\n<\/td>\n<td class=\"calendar__cell calendar__detail detail\"><\/td>\n<td class=\"calendar__cell calendar__actual actual\"><\/td>\n<td class=\"calendar__cell calendar__forecast forecast\">-6.1B<\/td>\n<td class=\"calendar__cell calendar__previous previous\">-5.6B<\/td>\n<td class=\"calendar__cell calendar__graph graph\"><\/td>\n<\/tr>\n<tr class=\"calendar__row calendar_row\" data-eventid=\"88793\" data-touchable=\"\">\n<td class=\"calendar__cell calendar__date date\"><\/td>\n<td class=\"calendar__cell calendar__time time\">4:00am<\/td>\n<td class=\"calendar__cell calendar__currency currency \" title=\"\">EUR<\/td>\n<td class=\"calendar__cell calendar__impact impact calendar__impact calendar__impact--low\">\n<div class=\"calendar__impact-icon calendar__impact-icon--screen\"><\/div>\n<\/td>\n<td class=\"calendar__cell calendar__event event\">\n<div><span class=\"calendar__event-title\">ECB Economic Bulletin<\/span><\/div>\n<\/td>\n<td class=\"calendar__cell calendar__detail detail\"><\/td>\n<td class=\"calendar__cell calendar__actual actual\"><\/td>\n<td class=\"calendar__cell calendar__forecast forecast\"><\/td>\n<td class=\"calendar__cell calendar__previous previous\"><\/td>\n<td class=\"calendar__cell calendar__graph graph\"><\/td>\n<\/tr>\n<tr class=\"calendar__row calendar_row\" data-eventid=\"86186\" data-touchable=\"\">\n<td class=\"calendar__cell calendar__date date\"><\/td>\n<td class=\"calendar__cell calendar__time time\">5:00am<\/td>\n<td class=\"calendar__cell calendar__currency currency \" title=\"\">EUR<\/td>\n<td class=\"calendar__cell calendar__impact impact calendar__impact calendar__impact--medium\">\n<div class=\"calendar__impact-icon calendar__impact-icon--screen\"><\/div>\n<\/td>\n<td class=\"calendar__cell calendar__event event\">\n<div><span class=\"calendar__event-title\">EU Economic Forecasts<\/span><\/div>\n<\/td>\n<td class=\"calendar__cell calendar__detail detail\"><\/td>\n<td class=\"calendar__cell calendar__actual actual\"><\/td>\n<td class=\"calendar__cell calendar__forecast forecast\"><\/td>\n<td class=\"calendar__cell calendar__previous previous\"><\/td>\n<td class=\"calendar__cell calendar__graph graph\"><\/td>\n<\/tr>\n<tr class=\"calendar__row calendar_row\" data-eventid=\"85957\" data-touchable=\"\">\n<td class=\"calendar__cell calendar__date date\"><\/td>\n<td class=\"calendar__cell calendar__time time\">Tentative<\/td>\n<td class=\"calendar__cell calendar__currency currency \" title=\"\">EUR<\/td>\n<td class=\"calendar__cell calendar__impact impact calendar__impact calendar__impact--low\">\n<div class=\"calendar__impact-icon calendar__impact-icon--screen\"><\/div>\n<\/td>\n<td class=\"calendar__cell calendar__event event\">\n<div><span class=\"calendar__event-title\">French 10-y Bond Auction<\/span><\/div>\n<\/td>\n<td class=\"calendar__cell calendar__detail detail\"><\/td>\n<td class=\"calendar__cell calendar__actual actual\"><\/td>\n<td class=\"calendar__cell calendar__forecast forecast\"><\/td>\n<td class=\"calendar__cell calendar__previous previous\">0.86|1.6<\/td>\n<td class=\"calendar__cell calendar__graph graph\"><\/td>\n<\/tr>\n<tr class=\"calendar__row calendar_row\" data-eventid=\"86454\" data-touchable=\"\">\n<td class=\"calendar__cell calendar__date date\"><\/td>\n<td class=\"calendar__cell calendar__time time\">8:30am<\/td>\n<td class=\"calendar__cell calendar__currency currency \" title=\"\">USD<\/td>\n<td class=\"calendar__cell calendar__impact impact calendar__impact calendar__impact--low\">\n<div class=\"calendar__impact-icon calendar__impact-icon--screen\"><\/div>\n<\/td>\n<td class=\"calendar__cell calendar__event event\">\n<div><span class=\"calendar__event-title\">Unemployment Claims<\/span><\/div>\n<\/td>\n<td class=\"calendar__cell calendar__detail detail\"><\/td>\n<td class=\"calendar__cell calendar__actual actual\"><\/td>\n<td class=\"calendar__cell calendar__forecast forecast\">214K<\/td>\n<td class=\"calendar__cell calendar__previous previous\">214K<\/td>\n<td class=\"calendar__cell calendar__graph graph\"><\/td>\n<\/tr>\n<tr class=\"calendar__row calendar_row\" data-eventid=\"87164\" data-touchable=\"\">\n<td class=\"calendar__cell calendar__date date\"><\/td>\n<td class=\"calendar__cell calendar__time time\">8th-9th<\/td>\n<td class=\"calendar__cell calendar__currency currency \" title=\"\">USD<\/td>\n<td class=\"calendar__cell calendar__impact impact calendar__impact calendar__impact--low\">\n<div class=\"calendar__impact-icon calendar__impact-icon--screen\"><\/div>\n<\/td>\n<td class=\"calendar__cell calendar__event event\">\n<div><span class=\"calendar__event-title\">Mortgage Delinquencies<\/span><\/div>\n<\/td>\n<td class=\"calendar__cell calendar__detail detail\"><\/td>\n<td class=\"calendar__cell calendar__actual actual\"><\/td>\n<td class=\"calendar__cell calendar__forecast forecast\"><\/td>\n<td class=\"calendar__cell calendar__previous previous\">4.36%<\/td>\n<td class=\"calendar__cell calendar__graph graph\"><\/td>\n<\/tr>\n<tr class=\"calendar__row calendar_row\" data-eventid=\"86444\" data-touchable=\"\">\n<td class=\"calendar__cell calendar__date date\"><\/td>\n<td class=\"calendar__cell calendar__time time\">10:30am<\/td>\n<td class=\"calendar__cell calendar__currency currency \" title=\"\">USD<\/td>\n<td class=\"calendar__cell calendar__impact impact calendar__impact calendar__impact--low\">\n<div class=\"calendar__impact-icon calendar__impact-icon--screen\"><\/div>\n<\/td>\n<td class=\"calendar__cell calendar__event event\">\n<div><span class=\"calendar__event-title\">Natural Gas Storage<\/span><\/div>\n<\/td>\n<td class=\"calendar__cell calendar__detail detail\"><\/td>\n<td class=\"calendar__cell calendar__actual actual\"><\/td>\n<td class=\"calendar__cell calendar__forecast forecast\">56B<\/td>\n<td class=\"calendar__cell calendar__previous previous\">48B<\/td>\n<td class=\"calendar__cell calendar__graph graph\"><\/td>\n<\/tr>\n<tr class=\"calendar__row calendar_row\" data-eventid=\"86993\" data-touchable=\"\">\n<td class=\"calendar__cell calendar__date date\"><\/td>\n<td class=\"calendar__cell calendar__time time\">2:00pm<\/td>\n<td class=\"calendar__cell calendar__currency currency \" title=\"\">USD<\/td>\n<td class=\"calendar__cell calendar__impact impact calendar__impact calendar__impact--high\">\n<div class=\"calendar__impact-icon calendar__impact-icon--screen\"><\/div>\n<\/td>\n<td class=\"calendar__cell calendar__event event\">\n<div><span class=\"calendar__event-title\">FOMC Statement<\/span><\/div>\n<\/td>\n<td class=\"calendar__cell calendar__detail detail\"><\/td>\n<td class=\"calendar__cell calendar__actual actual\"><\/td>\n<td class=\"calendar__cell calendar__forecast forecast\"><\/td>\n<td class=\"calendar__cell calendar__previous previous\"><\/td>\n<td class=\"calendar__cell calendar__graph graph\"><\/td>\n<\/tr>\n<tr class=\"calendar__row calendar_row calendar__row--no-grid nogrid\" data-eventid=\"86992\" data-touchable=\"\">\n<td class=\"calendar__cell calendar__date date\"><\/td>\n<td class=\"calendar__cell calendar__time time\"><\/td>\n<td class=\"calendar__cell calendar__currency currency \" title=\"\">USD<\/td>\n<td class=\"calendar__cell calendar__impact impact calendar__impact calendar__impact--high\">\n<div class=\"calendar__impact-icon calendar__impact-icon--screen\"><\/div>\n<\/td>\n<td class=\"calendar__cell calendar__event event\">\n<div><span class=\"calendar__event-title\">Federal Funds Rate<\/span><\/div>\n<\/td>\n<td class=\"calendar__cell calendar__detail detail\"><\/td>\n<td class=\"calendar__cell calendar__actual actual\"><\/td>\n<td class=\"calendar__cell calendar__forecast forecast\">&lt;2.25%<\/td>\n<td class=\"calendar__cell calendar__previous previous\">&lt;2.25%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>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":"<p>____________________________________________________________________ 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! FOMC decision tomorrow According to Fed Funds Futures, No hike this week from FOMC The probability of another .25 hike this week stands at 5.9% https:\/\/www.cmegroup.com\/trading\/interest-rates\/countdown-to-fomc.html Market reaction will [&hellip;]<\/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-14584","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\/14584","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=14584"}],"version-history":[{"count":1,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/14584\/revisions"}],"predecessor-version":[{"id":14585,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/14584\/revisions\/14585"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=14584"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=14584"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=14584"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}