{"id":3553,"date":"2012-05-02T16:07:26","date_gmt":"2012-05-03T00:07:26","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=3553"},"modified":"2014-09-12T04:52:18","modified_gmt":"2014-09-12T12:52:18","slug":"no-trade-is-better-than-a-bad-trade-support-and-resistance-levels","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/no-trade-is-better-than-a-bad-trade-support-and-resistance-levels\/","title":{"rendered":"No Trade is Better Than a Bad Trade | Support and Resistance Levels"},"content":{"rendered":"

Jump to a section in this post:<\/span>
\n1. Market Commentary<\/a><\/strong>
\n2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000<\/a><\/strong>
\n3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds<\/a><\/strong>
\n4. Support and Resistance Levels – Corn, Wheat, Beans, Silver<\/a><\/strong>
\n5. Economic Reports for Thursday May 3, 2012<\/a><\/strong><\/p>\n

 <\/p>\n

Hello Traders<\/p>\n

I was thinking of what I can share with you today and I really didn’t have any valuable thoughts to share and that’s when I remembered that sometimes clients tell me they took a trade when there is really no trade to take BECAUSE…<\/strong><\/p>\n

They felt they “must” take a trade…<\/strong><\/p>\n

because if they didn’t take a trade , they were not doing their job as a trader…<\/strong><\/p>\n

Because they were bored…. <\/strong><\/p>\n

and the list goes on…<\/strong><\/p>\n

I think that a big, big part of trading is mental. there many different methods to lose and make money…..but in order to make any method\/ approach work, one needs DISCIPLINE and PATIENCE and if you are a day-trader especially, sometimes not taking a trade is the right decision and is more important than where to enter, the stop, targets etc.<\/strong><\/p>\n

<\/p>\n

GOOD TRADING!<\/p>\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.<\/small><\/p>\n

<\/a>2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000<\/strong><\/h3>\n\n\n\n\n\n\n\n\n\n\n\n
Contract (June 2012)<\/td>\nSP500
\n(big & Mini)<\/td>\n		Nasdaq100
\n(big & Mini)<\/td>\n		Dow Jones
\n(big & Mini)<\/td>\n		Mini Russell<\/td>\nDollar Index<\/td>\n<\/tr>\n<\/thead>\n
Resistance 3<\/td>\n1410.83<\/td>\n2767.17<\/td>\n13317<\/td>\n833.77<\/td>\n79.94<\/td>\n<\/tr>\n
Resistance 2<\/td>\n1405.07<\/td>\n2749.33<\/td>\n13268<\/td>\n825.53<\/td>\n79.67<\/td>\n<\/tr>\n
Resistance 1<\/td>\n1401.53<\/td>\n2738.67<\/td>\n13237<\/td>\n820.97<\/td>\n79.44<\/td>\n<\/tr>\n
Pivot<\/td>\n1395.77<\/td>\n2720.83<\/td>\n13188<\/td>\n812.73<\/td>\n79.17<\/td>\n<\/tr>\n
Support 1<\/td>\n1392.23<\/td>\n2710.17<\/td>\n13157<\/td>\n808.17<\/td>\n78.94<\/td>\n<\/tr>\n
Support 2<\/td>\n1386.47<\/td>\n2692.33<\/td>\n13108<\/td>\n799.93<\/td>\n78.67<\/td>\n<\/tr>\n
Support 3<\/td>\n1382.93<\/td>\n2681.67<\/td>\n13077<\/td>\n795.37<\/td>\n78.44<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

<\/a>3. Support & Resistance Levels for Gold, Euro, Crude Oil, and U.S. T-Bonds<\/strong><\/h3>\n\n\n\n\n\n\n\n\n\n\n\n
Contract<\/td>\nJune Gold<\/td>\nJune Euro<\/td>\nJune Crude Oil<\/td>\nJune Bonds<\/td>\n<\/tr>\n<\/thead>\n
Resistance 3<\/td>\n1681.2<\/td>\n1.3348<\/td>\n107.09<\/td>\n144 18\/32<\/td>\n<\/tr>\n
Resistance 2<\/td>\n1672.5<\/td>\n1.3296<\/td>\n106.57<\/td>\n143 27\/32<\/td>\n<\/tr>\n
Resistance 1<\/td>\n1663.3<\/td>\n1.3227<\/td>\n105.95<\/td>\n143 12\/32<\/td>\n<\/tr>\n
Pivot<\/td>\n1654.6<\/td>\n1.3175<\/td>\n105.43<\/td>\n142 21\/32<\/td>\n<\/tr>\n
Support 1<\/td>\n1645.4<\/td>\n1.3106<\/td>\n104.81<\/td>\n142 6\/32<\/td>\n<\/tr>\n
Support 2<\/td>\n1636.7<\/td>\n1.3054<\/td>\n104.29<\/td>\n141 15\/32<\/td>\n<\/tr>\n
Support 3<\/td>\n1627.5<\/td>\n1.2985<\/td>\n103.67<\/td>\n141<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

<\/a>4. Support & Resistance Levels for Corn, Wheat, Beans and Silver<\/strong><\/h3>\n\n\n\n\n\n\n\n\n\n\n\n
Contract<\/td>\nJuly Corn<\/td>\nJuly Wheat<\/td>\nJuly Beans<\/td>\nJuly Silver<\/td>\n<\/tr>\n<\/thead>\n
Resistance 3<\/td>\n640.7<\/td>\n655.5<\/td>\n1536.17<\/td>\n3166.3<\/td>\n<\/tr>\n
Resistance 2<\/td>\n634.3<\/td>\n646.5<\/td>\n1524.33<\/td>\n3136.2<\/td>\n<\/tr>\n
Resistance 1<\/td>\n622.9<\/td>\n630.5<\/td>\n1504.67<\/td>\n3101.3<\/td>\n<\/tr>\n
Pivot<\/td>\n616.6<\/td>\n621.5<\/td>\n1492.83<\/td>\n3071.2<\/td>\n<\/tr>\n
Support 1<\/td>\n605.2<\/td>\n605.5<\/td>\n1473.2<\/td>\n3036.3<\/td>\n<\/tr>\n
Support 2<\/td>\n598.8<\/td>\n596.5<\/td>\n1461.33<\/td>\n3006.2<\/td>\n<\/tr>\n
Support 3<\/td>\n587.4<\/td>\n580.5<\/td>\n1441.67<\/td>\n2971.3<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\"\"
\n<\/a><\/p>\n

5. Economic Reports<\/h3>\n

5:00am EUR
\nPPI m\/m
\n<\/strong><\/p>\n

Tentative EUR
\n<\/strong>French 10-y Bond Auction<\/strong><\/p>\n

7:30am USD
\nChallenger Job Cuts y\/y
\n<\/strong><\/p>\n

7:45am EUR
\nMinimum Bid Rate<\/strong><\/p>\n

8:30am EUR
\n<\/strong>ECB Press Conference<\/strong><\/p>\n

8:30am USD
\nUnemployment Claims<\/strong><\/p>\n

8:30am USD
\n<\/strong>Prelim Nonfarm Productivity q\/q
\n<\/strong><\/p>\n

8:30am USD
\n<\/strong>Prelim Unit Labor Costs q\/q<\/strong><\/p>\n

10:00am USD
\nISM Non-Manufacturing PMI
\n<\/strong><\/p>\n

10:30am USD
\nNatural Gas Storage
\n<\/strong><\/p>\n

11:00am USD
\nFOMC member Williams Speaks
\n<\/strong><\/p>\n

1:00pm USD
\nFOMC Member Lockhart Speaks
\n<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Jump to a section in this post: 1. Market Commentary 2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000 3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds 4. Support and Resistance Levels – Corn, Wheat, Beans, Silver 5. Economic Reports for Thursday May 3, 2012   Hello Traders I […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[76,67],"tags":[149,134,602],"class_list":["post-3553","post","type-post","status-publish","format-standard","hentry","category-commodity-trading-2","category-future-trading-news","tag-commodity-futures-broker","tag-futures-trading-brokers","tag-futures-trading-online"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/3553","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=3553"}],"version-history":[{"count":4,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/3553\/revisions"}],"predecessor-version":[{"id":5503,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/3553\/revisions\/5503"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=3553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=3553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=3553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}