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Yesterday we had a nice volatile day, with price action both up and down and then we followed it today ( Veteran’s Day, banks are closed) with very choppy, much narrower price action. Tomorrow is Friday, after a quiet day and with some meanigful reports – which encouraged me to share the following with you on the different types of trading days:<\/div>\n
<\/div>\n\u00a0In my opinion there are 3 main types of trading days:<\/h1>\n
\u00a0In my opinion there are 3 main types of trading days:<\/h1>\n<\/div>\n1. The most common day are two sided trading action with swings up and down – this type of trading day is most suitable for using support and resistance levels along with overbought\/oversold indicators<\/a>.<\/div>\n<\/div>\n2. Strong trending days, mostly one directional – this type of trading day is the least common, many times will happen on Mondays and maybe 3-5 times a month at most – this type of trading day is most suitable for using ADX, MACD crossovers and pretty much looking for pullbacks to jump on the trend perhaps with the help of parabolics<\/a>.<\/div>\n<\/div>\n3. Slow and\/or choppy trading days – this type of trading day is best suited for taking small profits from the market by looking at volume spikes, using stochastics as possible entry signals and usually wait for a pullback before jumping in.<\/div>\n<\/div>\n\u00b7A good question I\u2019ve been asked is how can one asses what type of trading day we will have while the market is still trading….I have been doing some work in finding the answers and will be happy to hear feedback via email but here are some initial observations:<\/div>\n<\/div>\n1.\u00a0\u00a0Was the overnight session a wide, two sided trading range? If the answer is yes, good chances for similar trading day during the primary session (primary session is when the cash\/stock market is open)<\/div>\n<\/div>\n2.\u00a0Mondays have the highest chance for trending days<\/div>\n<\/div>\n3.\u00a0The behavior of the first hour of trading can also suggests the type of action for the rest of the day.<\/div>\n<\/div>\n4.\u00a0If the first 30 minutes of the trading day have good volume, better chances for type 1 or type 2 trading days.<\/div>\n<\/div>\n5.\u00a0Low volume during the first 30 minutes can suggest a choppy (type 3 trading day)<\/div>\n<\/div>\n6.\u00a0Are there other strong trends in other sectors? ( bonds? metals? energies? Dollar index? )<\/div>\n<\/div>\nTrading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. 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.<\/div>\n<\/div>\nHourly\/ 60 minutes chart\u00a0<\/a>(\u00a0click\u00a0<\/a>for larger image)\u00a0of the 30 yr bonds (ZB or USA)<\/a> for your review below. I have heard from some clients that they “like the personality of the bonds” better than the ES<\/a> and NQ<\/a>. Different dynamics, larger tick size – may be worth your time to follow and try in SIM MODE<\/a> first<\/div>\n<\/div>\n<\/div>\n<\/div>\n![\"Futures](\"https:\/\/cannontrading.com\/community\/newsletter\/202110\/USA_-_30yr_US_Treasury_Bonds_%28Globex%29_Equalized_Active_60_Min_Continuation.png\" "\\"Futures")
<\/a><\/div>\n<\/div>\nIf you are looking for other reference material please\u00a0contact your Cannon Broker<\/a>\u00a0for lists of solid, informative and helpful trading tomes<\/div>\nGood Trading<\/strong><\/h3>\nTrading 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>\n11-12-2021<\/p>\n
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![\"Futures](\"https:\/\/files.constantcontact.com\/3dc00ef7001\/1051c742-cc71-4df2-9448-a89457e0b5a7.png\" "\\"Futures")
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\n<\/a>Economic Reports, source:\u00a0<\/strong><\/h3>\n
1. The most common day are two sided trading action with swings up and down – this type of trading day is most suitable for using support and resistance levels along with overbought\/oversold indicators<\/a>.<\/div>\n
<\/div>\n
2. Strong trending days, mostly one directional – this type of trading day is the least common, many times will happen on Mondays and maybe 3-5 times a month at most – this type of trading day is most suitable for using ADX, MACD crossovers and pretty much looking for pullbacks to jump on the trend perhaps with the help of parabolics<\/a>.<\/div>\n
<\/div>\n
3. Slow and\/or choppy trading days – this type of trading day is best suited for taking small profits from the market by looking at volume spikes, using stochastics as possible entry signals and usually wait for a pullback before jumping in.<\/div>\n
<\/div>\n
\u00b7A good question I\u2019ve been asked is how can one asses what type of trading day we will have while the market is still trading….I have been doing some work in finding the answers and will be happy to hear feedback via email but here are some initial observations:<\/div>\n
<\/div>\n
1.\u00a0\u00a0Was the overnight session a wide, two sided trading range? If the answer is yes, good chances for similar trading day during the primary session (primary session is when the cash\/stock market is open)<\/div>\n
<\/div>\n
2.\u00a0Mondays have the highest chance for trending days<\/div>\n
<\/div>\n
3.\u00a0The behavior of the first hour of trading can also suggests the type of action for the rest of the day.<\/div>\n
<\/div>\n
4.\u00a0If the first 30 minutes of the trading day have good volume, better chances for type 1 or type 2 trading days.<\/div>\n
<\/div>\n
5.\u00a0Low volume during the first 30 minutes can suggest a choppy (type 3 trading day)<\/div>\n
<\/div>\n
6.\u00a0Are there other strong trends in other sectors? ( bonds? metals? energies? Dollar index? )<\/div>\n
<\/div>\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. 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.<\/div>\n
<\/div>\n
Hourly\/ 60 minutes chart\u00a0<\/a>(\u00a0click\u00a0<\/a>for larger image)\u00a0of the 30 yr bonds (ZB or USA)<\/a> for your review below. I have heard from some clients that they “like the personality of the bonds” better than the ES<\/a> and NQ<\/a>. Different dynamics, larger tick size – may be worth your time to follow and try in SIM MODE<\/a> first<\/div>\n<\/div>\n<\/div>\n
<\/div>\n<\/a><\/div>\n
<\/a><\/div>\n<\/div>\n
If you are looking for other reference material please\u00a0contact your Cannon Broker<\/a>\u00a0for lists of solid, informative and helpful trading tomes<\/div>\nGood Trading<\/strong><\/h3>\n
Good Trading<\/strong><\/h3>\nTrading 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
<\/p>\n
Futures Trading Levels<\/strong><\/h3>\n11-12-2021<\/p>\n
<\/p>\n
<\/p>\n
\n<\/a>Economic Reports, source:\u00a0<\/strong><\/h3>\n
11-12-2021<\/p>\n
<\/p>\n
<\/p>\n
![\"BetterTrader](\"https:\/\/files.constantcontact.com\/3dc00ef7001\/1e492fa9-f57c-432d-b445-7a8803f85d3e.png\" "\\"BetterTrader")
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