Download this complimentary guide that includes several trading articles covering trading indicators, risk management, seasonality in different markets, different trade set ups and much more!
Why Successful Traders Use Fibonacci and the Golden Ratio
Support and resistance levels on bar charts are a major component in the study of technical analysis. Many traders, including myself, use support and resistance levels to identify entry and exit points when trading markets. When determining support and resistance levels on charts, one should not overlook the key Fibonacci percentage "retracement" levels. I will detail specific Fibonacci percentages in this feature, but first I think it's important to examine how those numbers were derived, and by whom.
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Disclaimer: There is a risk of financial loss in futures and options trading. Futures trading is neither easy nor an easy way to make money. It takes hard work to have success. Please use sound money management when trading futures. Past performance is not necessarily indicative of future results. Nothing in this newsletter is intended to be a trading recommendation for you to buy or sell futures or options. All information has been obtained from sources believed to be reliable, but accuracy is not guaranteed. Readers are solely responsible for how they use the information in this newsletter.
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
|---|---|---|
| 12/06 Thu |
7:30 AM CST - USDA Weekly Export Sales
7:30 AM CST - Initial Claims-Weekly 9:30 AM CST - EIA Gas Storage 3:30 PM CST - Money Supply |
LT: Dec Cotton(ICE)
|
| 12/07 Fri |
7:30 AM CST - Nonfarm Payrolls & Unemploy Rate(Nov) 7:30 AM CST - Hourly Earnings & Ave Workweek(Nov) 9:00 AM CST - Michigan Sentiment-Prelim(Dec) 2:00 PM CST - Consumer Credit(Oct) 2:00 PM CST - Dairy Products Prices |
LT: Dec US Dollar Index Options(ICE)
Dec Live Cattle Options(CME) Dec Canadian Dollar Options(CME) Dec Currency Options(CME) |
| 12/10 Mon |
9:00 AM CST - Pending Home Sales(Oct)
|
|
| 12/11 Tue |
7:30 AM CST - WASDE Report 7:30 AM CST - Supply & Demand Report 9:00 AM CST - Wholesale Inventories(Oct) 1:15 PM CST - FOMC Policy Statement Cotton Ginnings |
|
| 12/12 Wed |
7:30 AM CST - Export & Import Prices(Nov)
7:30 AM CST - Trade Balance(Oct) 9:30 AM CST - API & DOE Energy Stats 1:00 PM CST - Treasury Budget(Nov) |
|
| 12/13 Thu |
7:30 AM CST - PPI & Core PPI(Nov) 7:30 AM CST - Retail Sales(Nov) 7:30 AM CST - USDA Weekly Export Sales 7:30 AM CST - Initial Claims-Weekly 9:00 PM CST - Business Inventories(Oct) 9:30 AM CST - EIA Gas Storage 3:30 PM CST - Money Supply |
LT: Dec Cocoa(ICE)
Dec Nikkei 225(CME) Dec Nikkei 225 Options(CME) Jan Crude Oil Options(NYM) FN: Dec Live Cattle(CME) |
* 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!