{"id":14648,"date":"2018-12-18T13:23:34","date_gmt":"2018-12-18T21:23:34","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=14648"},"modified":"2018-12-18T13:23:34","modified_gmt":"2018-12-18T21:23:34","slug":"trading-levels-12-19-2018","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/trading-levels-12-19-2018\/","title":{"rendered":"Trading Levels 12\/19\/2018"},"content":{"rendered":"

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Dear Traders,<\/p>\n

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FOMC tomorrow.<\/div>\n
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75% for another 0.25% hike.<\/div>\n
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You can follow the odds at:\u00a0https:\/\/www.cmegroup.com\/trading\/interest-rates\/countdown-to-fomc.html<\/a><\/div>\n
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The following are suggestions on trading during FOMC days:<\/div>\n
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\u00b7\u00a0\u00a0\u00a0\u00a0Reduce trading size<\/div>\n
\u00b7\u00a0\u00a0\u00a0\u00a0Be extra picky = no trade is better than a bad trade<\/div>\n
\u00b7\u00a0\u00a0\u00a0\u00a0Choose 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 “stretch the price bands” 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).<\/div>\n
\u00b7\u00a0\u00a0\u00a0\u00a0Expect the higher volatility during and right after the announcement<\/div>\n
\u00b7\u00a0\u00a0\u00a0\u00a0Expect to see some “vacuum” ( low volume, big zigzags) right before the number.<\/div>\n
\u00b7\u00a0\u00a0\u00a0\u00a0Consider using automated stops and limits attached to your entry order as the market can move very fast at times.<\/div>\n
\u00b7\u00a0\u00a0\u00a0\u00a0Know what the market was expecting, learn what came out and observe market reaction for clues<\/div>\n
\u00b7\u00a0\u00a0\u00a0\u00a0Be patient and be disciplined<\/div>\n
\u00b7\u00a0\u00a0\u00a0\u00a0If in doubt, stay out!!<\/div>\n
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March is now the front month for most markets.<\/div>\n
Examples;<\/div>\n
ESH19<\/div>\n
ZBH19<\/div>\n
SIH19<\/div>\n
and many others.<\/div>\n
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You should not be trading ANY December contracts.<\/div>\n
Ask your broker if not sure.<\/div>\n
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WEEKLY chart of Crude Oil Futures below. OMG….<\/div>\n<\/div>\n
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Fresh off the press is Cannon Trading’s new eBook! Written by our very own staff of brokers, this eBook is designed as a guide to the commodities market for both beginners and veterans alike. Inside you can find:<\/div>\n