Daily Support & Resistance Levels and Other valuable Info for Futures Traders...

Discussion in 'Commodity Futures' started by CannonTrading_Ilan, Sep 15, 2020.

  1. CannonTrading_Ilan

    CannonTrading_Ilan Sponsor

    I am sharing our daily trading levels as well as other tips and info I feel can be quite useful for different traders in the community.


    Today's reports available here.
  2. are they just pivot line?
  3. CannonTrading_Ilan

    CannonTrading_Ilan Sponsor

    Here are the levels for tomorrow, Sept. 16th along with some notes RE FOMC

    It's that time of the year where December contract is the front month for all stock indices/ currencies/ financials and other markets!

    Tomorrow we have FOMC.

    Normally the volatility is around the actual rate cut/increase....This time it is 99.99% of no change.

    However, FOMC days do have unique behavior and this time my guess is, it will be around the language used after the announcement.

    The following are my PERSONAL suggestions on trading during FOMC days:
    ·Reduce trading size
    ·Be extra picky = no trade is better than a bad trade
    ·Choose entry points wisely. Look at longer time frame support and resistance for entry. Take the approach of entering at points where you normally would have placed protective stops. Example, trader x looking to go long the mini SP at 3325.00 with a stop at 3319.00, instead "stretch the price bands" due to volatility and place an entry order to buy at 3319.75 and place a stop a few points below in this hypothetical example ( consider current volatility along with support and resistance levels).
    ·Expect the higher volatility during and right after the announcement
    ·Expect to see some "vacuum" ( low volume, big zigzags) right before the number.
    ·Consider using automated stops and limits attached to your entry order as the market can move very fast at times.
    ·Keep in mind statement comes out at 1 Pm Central time, the news conference which dissects the language comes out 30 minutes later so the volatility window stretches out.
    ·Know what the market was expecting, learn what came out and observe market reaction for clues
    ·Be patient and be disciplined
    ·If in doubt, stay out!!

    More info here.

    upload_2020-9-15_13-23-40.png upload_2020-9-15_13-23-40.png
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  4. CannonTrading_Ilan

    CannonTrading_Ilan Sponsor

    MACD, ondafringe and (deleted member) like this.
  5. CannonTrading_Ilan

    CannonTrading_Ilan Sponsor

  6. spudpei


    Interesting, thank you for providing these daily levels @Cannon_Trading . Are these based off of common indicators or your personal calculations?
    CannonTrading_Ilan likes this.
  7. CannonTrading_Ilan

    CannonTrading_Ilan Sponsor

    It is a mix of both but mostly a formula I have been using for years and using the numbers right at 3 PM central.
    spudpei likes this.
  8. CannonTrading_Ilan

    CannonTrading_Ilan Sponsor

    Quadruple witching tomorrow....
    Futures, futures options, stock options and single stocks all expire tomorrow morning right on the open of the stock market.
    Keep in mind that September mini SP and it's relatives ( mini Dow, mini Nasdaq etc.) EXPIRE tomorrow and cash settle based on special settlement price....Markets can get volatile tomorrow morning right before and around the open.

    The September contract will simply cease to trade. If you have not switched to December yet, now is the time.....
    Know the rules, understand current margins, know where the circuit breakers are/ limit moves.
    Figure out your max risk.
    After you do all that, feel free to trade but jumping in and trying to trade without the basic knowledge above is like jumping into a stormy ocean without a life vest.....

    Here are my levels for tomorrow, read more as well as outlook om Small Exchange US$ index outlook here.
  9. CannonTrading_Ilan

    CannonTrading_Ilan Sponsor

    Weekly newsletter with an article on before you can win you need to learn how lose....as well as ES outlook HERE

    Daily levels and WEEKLY levels below:




  10. Are those Daily levels (and WEEKLY levels) available before or after the markets close, and where?
    #10     Sep 20, 2020