{"id":2305,"date":"2011-10-01T03:59:05","date_gmt":"2011-10-01T03:59:05","guid":{"rendered":"http:\/\/www.cannontrading.com\/daily\/?p=2305"},"modified":"2014-09-11T04:39:16","modified_gmt":"2014-09-11T12:39:16","slug":"day-trading-tactics-for-october-support-and-resistance-levels","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/day-trading-tactics-for-october-support-and-resistance-levels\/","title":{"rendered":"Day-Trading Tactics for October | Support and Resistance Levels"},"content":{"rendered":"

In this post:<\/span>
\n
\n1. Market Commentary
\n2. Support and Resistance Levels
\n3. Daily Mini S&P 500 Futures Chart from September 30, 2011
\n4. Economic Reports
\n<\/strong><\/p>\n

\"\"<\/p>\n

<\/p>\n

1. Market Commentary<\/h3>\n

For October I would like to wish everyone a month full of trading patience, of wise money management, of disciplined trading and “picky” trades.<\/p>\n

If you will be able to control yourself and implement what I mentioned above, it should be a successful trading month!<\/p>\n

From technical point of view, the market is bearish but not sure if this matters to most of you, since the majority are day-traders by nature, which brings me to another point….<\/p>\n

If you are a day-trader who uses very short time frame and quick profits as a trading method, then your risk parameters should be adjusted accordingly. In simple language if you are looking to make 2 points mini SP profit, why risk 10 or more points? Losses are part of trading and I don’t know ANYONE who wins 100% of the time, that means that as a trader you must learn to accept losses and use “makes-sense” money management.<\/p>\n

Daily chart of the mini SP 500 for your review below:<\/p>\n

GOOD TRADING!<\/p>\n

\"\"<\/p>\n

<\/p>\n

2. SUPPORT AND RESISTANCE LEVELS!<\/h2>\n\n\n\n\n\n\n\n\n\n\n\n
Contract (Dec. 2011)<\/td>\nSP500 (big & Mini)<\/td>\nNasdaq100 (big & Mini)<\/td>\nDow Jones (big & Mini)<\/td>\nMini Russell<\/td>\n<\/tr>\n<\/thead>\n
Resistance 3<\/strong><\/td>\n1166.83<\/td>\n2246.83<\/td>\n11339<\/td>\n680.27<\/td>\n<\/tr>\n
Resistance 2<\/strong><\/td>\n1157.67<\/td>\n2222.67<\/td>\n11233<\/td>\n671.53<\/td>\n<\/tr>\n
Resistance 1<\/strong><\/td>\n1141.33<\/td>\n2178.08<\/td>\n11031<\/td>\n655.57<\/td>\n<\/tr>\n
Pivot<\/strong><\/td>\n1132.17<\/td>\n2153.92<\/td>\n10925<\/td>\n646.83<\/td>\n<\/tr>\n
Support 1<\/strong><\/td>\n1115.83<\/td>\n2109.33<\/td>\n10723<\/td>\n630.87<\/td>\n<\/tr>\n
Support 2<\/strong><\/td>\n1106.67<\/td>\n2085.17<\/td>\n10617<\/td>\n622.13<\/td>\n<\/tr>\n
Support 3<\/strong><\/td>\n1090.33<\/td>\n2040.58<\/td>\n10415<\/td>\n606.17<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n\n\n\n\n\n\n\n\n\n\n\n
Contract<\/td>\nDec. Gold<\/td>\nDec. Euro<\/td>\nNov. Crude Oil<\/td>\nDec. Bonds<\/td>\n<\/tr>\n<\/thead>\n
Resistance 3<\/strong><\/td>\n–<\/td>\n1.3733<\/td>\n86.33<\/td>\n144 19\/32<\/td>\n<\/tr>\n
Resistance 2<\/strong><\/td>\n–<\/td>\n1.3665<\/td>\n84.78<\/td>\n143 29\/32<\/td>\n<\/tr>\n
Resistance 1<\/strong><\/td>\n–<\/td>\n1.3527<\/td>\n81.77<\/td>\n143 14\/32<\/td>\n<\/tr>\n
Pivot<\/strong><\/td>\n–<\/td>\n1.3459<\/td>\n80.22<\/td>\n142 24\/32<\/td>\n<\/tr>\n
Support 1<\/strong><\/td>\n–<\/td>\n1.3321<\/td>\n77.21<\/td>\n142 9\/32<\/td>\n<\/tr>\n
Support 2<\/strong><\/td>\n–<\/td>\n1.3253<\/td>\n75.66<\/td>\n141 19\/32<\/td>\n<\/tr>\n
Support 3<\/strong><\/td>\n–<\/td>\n1.3115<\/td>\n72.65<\/td>\n141 4\/32<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\"\"<\/p>\n

<\/p>\n

3. Daily Mini S&P 500 Futures Chart from September 30, 2011<\/h3>\n

\"Daily<\/p>\n

<\/p>\n

4. Economic Reports for Monday October 3, 2011<\/h3>\n

ISM Manufacturing PMI
\n10:00am<\/p>\n

Construction Spending m\/m
\n10:00am<\/p>\n

ISM Manufacturing Prices
\n10:00am<\/p>\n

Total Vehicle Sales
\nAll Day<\/p>\n

Economics Report Source: http:\/\/www.forexfactory.com\/calendar.php<\/a><\/em><\/p>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

In this post: 1. Market Commentary 2. Support and Resistance Levels 3. Daily Mini S&P 500 Futures Chart from September 30, 2011 4. Economic Reports 1. Market Commentary For October I would like to wish everyone a month full of trading patience, of wise money management, of disciplined trading and “picky” trades. If you will […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[230,61],"tags":[],"class_list":["post-2305","post","type-post","status-publish","format-standard","hentry","category-day-trading-2","category-futures-trading-2"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/2305","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=2305"}],"version-history":[{"count":12,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/2305\/revisions"}],"predecessor-version":[{"id":8127,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/2305\/revisions\/8127"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=2305"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=2305"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=2305"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}