{"id":17997,"date":"2022-09-23T12:34:26","date_gmt":"2022-09-23T20:34:26","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=17997"},"modified":"2022-09-23T12:34:26","modified_gmt":"2022-09-23T20:34:26","slug":"weekly-newsletter-1116-using-stop-orders-to-enter-the-market-trading-levels-for-the-week-ahead","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/weekly-newsletter-1116-using-stop-orders-to-enter-the-market-trading-levels-for-the-week-ahead\/","title":{"rendered":"Weekly Newsletter 1116: Using STOP Orders to Enter the Market + Trading Levels for the Week Ahead"},"content":{"rendered":"

Cannon Futures Weekly Newsletter Issue # 1116<\/strong><\/h3>\n

Dear Traders,<\/p>\n

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Trading Tip:<\/h3>\n

Entering trades using a STOP order.<\/h3>\n
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Most retail clients I work with will enter trades either at market or using a limit order<\/a> (better price than current market price), however, there are times that depending on your trading strategy , entering the trade on a stop order might be better.<\/div>\n
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Example, you are looking for momentum and making a few ticks and you feel that the current resistance on natural gas<\/a> is 3.570 and in this hypothetical example the market is trading at 3.550.<\/div>\n
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You place a buy stop order to enter the market at 3.573 because you want to see the resistance violated and you are looking for possible continuation and follow through if that happens.<\/div>\n
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If the market does not brake the resistance line in this “educational example”, you don’t get in the trade. If it does, then your buy stop will trigger you long at best market price.<\/div>\n
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Some traders will take this a step further and use a buy stop\/limit. example buy stop 3.573 \/ limit 3.575 meaning fill me if we break 3.573 but no worse than 3.575. In this case you are willing to “miss the trade” but you know what is your predefined slippage.<\/div>\n
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Feel free to reach out to your\u00a0current Cannon broker or contact person<\/a>\u00a0if you like to expand on the topic.<\/div>\n<\/div>\n<\/div>\n
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Futures Trading Videos:<\/div>\n
1. Identifying Support And Resistance Using A Line Chart.<\/div>\n
2. Finding Levels of Support Resistance<\/div>\n
3. Day Trading crude oil futures<\/a> using fear and greed….<\/div>\n