In This Issue
Each trading day, Ilan Levy-Mayer, Vice President of Cannon Trading and President / AP of LEVEX Capital Management Inc., a registered commodity trading advisor, holds a live educational day trading webinar during the first 2 hours of trading.
In these webinars, Ilan will:
View Ilan's charts. Read his trading notes. Hear his commentary. All live! Fill out the form below to register.
In the image below, you will see a snapshot from a live session. You can see the main chart with trading signals (red arrow = sell, blue arrow = buy), suggested exits (blue x = exit for short, red x = exit for long), along with other visual elements of the model Ilan uses in his day trading.
Click the image to enlarge
Disclaimer
Past results are not necessarily indicative of future results. The risk of loss in trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.
Day trading can be extremely risky.
Day trading generally is not appropriate for someone of limited resources and limited investment or trading experience and low risk tolerance. You should be prepared to lose all of the funds that you use for day trading. And more, you should not fund day-trading activities with funds required to meet your living expenses or change your standard of living.
You should be wary of advertisements or other statements that emphasize the potential for large profits in day trading. Day trading can also lead to large and immediate financial losses.
Day trading will generate substantial commissions, even if the per trade cost is low.
Day trading involves aggressive trading, and you will pay commission on each trade. The total daily commissions that you pay on your trades will add to your losses or significantly reduce your earnings.
Day trading on margin may result in losses beyond your initial investment.
An investment of less that $25,000 will significantly impair the ability of a day trader to make a profit. Of course, an investment of $25,000 or more will not guarantee success.
by Ilan Levy-Mayer
With December gold futures flirting with the psychological 1300 level ( at the time of writing this newsletter) traders can sometimes have difficulties determining the next resistance levels since the market is in what we call unchartered zone.
One way I like to approach markets when they make recent highs/ lows is by using Fibonacci extensions. Many of you are familiar with Fibonacci retracements. The cousin of FIB retracements is the FIB extensions.
Below you will see a daily continuation chart of December gold futures with some Fibonacci extensions marking possible resistance and support levels.
Looking for a free one on one consultation with an experienced series 3 broker? Click here
Click the image to enlarge
* Futures and options trading involves substantial risk of loss.
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
| 09/22 Wed |
9:30 AM CDT - API & DOE Energy Stats 2:00 PM CDT - Cold Storage |
|
| 09/23 Thu |
7:30 AM CDT - Initial Claims-Weekly 9:00 AM CDT - Existing Home Sales(Aug) 9:00 AM CDT - Leading Indicators 9:30 AM CDT - EIA Gas Storage 3:30 PM CDT - Money Supply |
|
| 09/24 Fri |
7:30 AM CDT - Dairy Products Prices 7:30 AM CDT - Durable Orders(Aug) 9:00 AM CDT - New Home Sales(Aug) 2:00 PM CDT - Quarterly Hogs & Pigs |
FN: Oct Cotton(NYM) LT: Oct 2,3,5,10 Yr Notes Options(CBT) Oct Bonds Options(CBT) Oct Barley Options(CBT) Oct Corn Options(CBT) Oct Oats Options(CBT) Oct Rough Rice Options(CBT) Oct Soybeans Options(CBT) Oct Soymeal Options(CBT) Oct Soyoil Options(CBT) Oct Wheat Options(CBT) |
09/27 |
LT: Oct Copper Options(CMX) Oct Gold Options(CMX) Oct Silver Options(CMX) Oct Heating Oil Options(NYM) Oct RBOB Gasoline Options(NYM) Oct Natural Gas Options(NYM) |
|
| 09/28 Tue |
8:00 AM CDT - Case-Shiller 20-City Index(Jul) 9:00 AM CDT - Consumer Confidence(Sep) |
LT: Sep Copper(CMX) Sep Gold(CMX) Sep Silver(CMX) Sep Platinum(CMX) Sep Palladium(CMX) Oct Natural Gas(NYM) |
| 09/29 Wed |
9:30 AM CDT - API & DOE Energy Stats | FN: Oct Natural Gas(NYM) |
| 09/30 Thu |
7:30 AM CDT - GDP-Third Estimate(Q2) 7:30 AM CDT - GDP-Deflator(Q2) 7:30 AM CDT - Initial Claims-Weekly 7:30 AM CDT - USDA Weekly Export Sales 8:45 AM CDT - Chicago PMI(Sep) 9:30 AM CDT - EIA Gas Storage 3:30 PM CDT - Money Supply |
FN: Oct Barley(CBT) Oct Copper(CMX) Oct Gold(CMX) Oct Silver(CMX) Oct Platinum(CMX) Oct Palladium(CMX) Oct Soymeal/Soyoil(CBT) LT: Sep Feeder Cattle(CME) Sep 2,3,5 Year Notes(CBT) Sep Fed Funds(CME) Sep Milk(CME) Oct Heating Oil(NYM) Oct RBOB Gasoline(NYM) Oct Sugar 11(NYM) Sep Feeder Cattle Options(CME) Sep Fed Funds Options(CME) Sep Milk Options(CME) Oct Lumber Options(CME) |
| 10/1 Fri |
7:30 AM CDT - Dairy Products Prices 7:30 AM CDT - Personal Income & Spending(Aug) 7:30 AM CDT - PCE Prices-Core(Aug) 9:00 AM CDT - Construction Spending(Aug) 9:00 AM CDT - ISM Index(Sep) 1:00 PM CDT - Auto & Truck Sales(Sep) |
FN: Oct Sugar 11(NYM) LT: Oct Butter Options(CME) Oct Live Cattle Options(CME) Nov Cocoa Options(ICE) |
| 10/4 Mon |
9:00 AM CDT - Factory Orders(Aug) 9:00 AM CDT - Pending Home Sales(Aug) |
FN: Oct Butter(CME) Oct Live Cattle(CME) Oct Heating Oil(NYM) Oct RBOB Gasoline(NYM) |
| 10/5 Tue |
9:00 AM CDT - ISM Services(Sep) |
* Please note that the information contained in this letter is intended for clients, prospective clients, and audiences who have a basic understanding, familiarity, and interest in the futures markets.
** The material contained in this letter is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performances are not necessarily indicative of future results.
*** This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts herein contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgment in trading!