{"id":16450,"date":"2020-12-17T13:38:20","date_gmt":"2020-12-17T21:38:20","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=16450"},"modified":"2020-12-17T13:38:20","modified_gmt":"2020-12-17T21:38:20","slug":"gold-daily-chart-for-review-sympathy-rally-with-bitcoin-support-and-resistance-levels-12-18-2020","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/gold-daily-chart-for-review-sympathy-rally-with-bitcoin-support-and-resistance-levels-12-18-2020\/","title":{"rendered":"Gold Daily Chart For Review. Sympathy rally with Bitcoin? & Support and Resistance Levels 12.18.2020"},"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

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Dear Traders,<\/p>\n

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Gold Daily Chart below. Sympathy rally with Bitcoin?<\/div>\n
End of the year rally?<\/div>\n
Need to see a close above 1900 to get a bit more excited about this one.<\/div>\n
Time will tell.<\/div>\n
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Quick educational tips:<\/strong><\/div>\n
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1. Look for high volume markets with a thin spread, so orders are filled quickly and it has high volatility, so there are opportunities for 2 to 4 good trades during the day. The Emini S&P500 Index Future is a good example of this type of market (Each point is worth $50, split into 4 ticks of $12.50 and there are 4 contracts a year, traded on the Chicago Mercantile Exchange).<\/div>\n
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2. Try to minimize risk to 1% of your capital per trade, then your capital can absorb 100 consecutive bad trades. Even the best systems can expect 20% -40% loosing trades, so the 1% rule gives you room to maneuver.<\/div>\n
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3. $10-$15k is the minimum recommended risk capital you should have per Emini S&P500 contract traded – then if you lose $1000-$1500 it only represents 10% of you capital, which is recoverable compared to a $3k account where the same loss equals 50% of your account, consequently you are more likely to lose the remainder of your capital rather than recover the loss.\u00a0If you don’t have the higher risk capital, limit yourself to the MICROS – 1\/10th the size.<\/div>\n
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4. Limit the hours you trade \u2013 the more you trade, the more exposed you are to human weaknesses, frustration and more. Just like an athlete you need to preserve your trading (playing) time….<\/div>\n
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Would you like to read more?<\/a><\/div>\n<\/div>\n
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Good Trading<\/strong><\/h3>\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 when it comes to Futures Trading.<\/p>\n

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Futures Trading Levels<\/strong><\/h3>\n

12-18-2020<\/p>\n

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Economic Reports, source:\u00a0<\/strong><\/h3>\n

\u00a0<\/a>www.BetterTrader.co<\/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<\/a>. 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! Gold Daily Chart below. Sympathy rally with Bitcoin? End of the year rally? Need to see a close above 1900 to get a bit more excited about this one. […]<\/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":[1251,58,59,329,1394],"class_list":["post-16450","post","type-post","status-publish","format-standard","hentry","category-future-trading-news","tag-bitcoin","tag-day-trading-futures","tag-discount-futures-broker","tag-gold-futures","tag-metals-futures"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/16450","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=16450"}],"version-history":[{"count":1,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/16450\/revisions"}],"predecessor-version":[{"id":16451,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/16450\/revisions\/16451"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=16450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=16450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=16450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}