On Wednesday I presented a webinar on swing trading in futures with the methods I use for Swing Trader’s Insight. You can watch a recording of the presentation HERE.
Markets continue to feel the effects of this week’s collapse of investor sentiment worldwide. The big factors I’ve seen pointed to are weak data out of Germany this week and burgeoning fears about the spread of the Ebola epidemic, especially in Europe. Is the selloff justified in light of this? I don’t know, however you can’t argue with the market. There’s no economic data due today. There are a number of Fed officials speaking today, all are noted hawks. The futures markets are open on Monday but trade may be slightly lighter due to the Columbus Day holiday.
Dec. eMini S&P Futures: It’s a Taylor Trading Technique Buy day; 1915.25 is the Buy day reference price. Recent volatility may make for hair trigger moves today. For now I would watch the 1919 area as a pivot point; the next support would be 1914.50.
Dec. eMini NASDAQ Futures: Another Taylor Trading Technique Buy day; last week’s swing low of 3927.75 was a logical test / reference price. 3947.00 is the “official” Buy day reference price.
Dec. T Bond Futures: Two consecutive doji days make it more difficult to determine where we are in the Taylor Trading Technique cycle. I like the long side as long as it remains above the 140-16 level although I wouldn’t be chasing higher prices.
Dec. Yen: Breakout setup; watch 9304 as an upside reference price and 9236 down.
Dec. Euro: By the Taylor Trading Technique today is a Buy day. 1.2668 is the “official” Buy day reference price; I would also watch the Fibonacci retracement level at 1.2652.
Dec. Silver: Breakout setup (NR7, doji yesterday). For breakout reference prices watch the overnight low of 1720.5 on the downside; start with 1747 on the upside.
March Sugar: It’s a “cover breakout sales” day so a Taylor Trading Technique Buy day is anticipated- 16.62 is the Buy day reference price and there’s Fib support in the 17.55 area.
Nov. Crude Oil: TTT Buy day. It’s well above the 84.06 reference price; watch the 85.00 level as a pivot point this morning. Crude is “overdue” (I don’t like to use phrases like that) for a rally however a rally will likely be a bounce in a bear market.
Dec. Live Cattle: It’s a “cover breakout sales” day so a TTT Buy day is anticipated; 165.05 is the Buy day reference price. Be careful with the long side; a drop below the Sept. high of 165.87 could signal a top.
Dec. Lean Hogs: Breakout setup (NR4, doji yesterday). Watch the overnight low of 94.42 on the downside and the last overnight high of 95.00 as reference prices.
Grain Futures: There’s a USDA WASDE (World Ag Supply Demand Estimates) report due at 11 AM CT, trade accordingly.
Nov. Soybeans: Breakout setup; watch the overnight low of 930-6 as the downside reference price.
Dec. Wheat: It’s a “cover b.o. sales” day; 492-0 is the TTT Buy day reference price. The 20 day EMA is at 496-0 (also the overnight high); watch that as a resistance / pivot point level.
Essential Guide for Futures Swing Trading
In this guide, experienced trader and broker Scott Hoffman explains the trading methods he uses to analyze and trade the futures markets and to publish his trade advisory, Swing Trader’s Insight.
THIS MATERIAL IS CONVEYED AS A SOLICITATION FOR ENTERING INTO A DERIVATIVES TRANSACTION.
THIS MATERIAL HAS BEEN PREPARED BY A DANIELS TRADING BROKER WHO PROVIDES RESEARCH MARKET COMMENTARY AND TRADE RECOMMENDATIONS AS PART OF HIS OR HER SOLICITATION FOR ACCOUNTS AND SOLICITATION FOR TRADES; HOWEVER, DANIELS TRADING DOES NOT MAINTAIN A RESEARCH DEPARTMENT AS DEFINED IN CFTC RULE 1.71. DANIELS TRADING, ITS PRINCIPALS, BROKERS AND EMPLOYEES MAY TRADE IN DERIVATIVES FOR THEIR OWN ACCOUNTS OR FOR THE ACCOUNTS OF OTHERS. DUE TO VARIOUS FACTORS (SUCH AS RISK TOLERANCE, MARGIN REQUIREMENTS, TRADING OBJECTIVES, SHORT TERM VS. LONG TERM STRATEGIES, TECHNICAL VS. FUNDAMENTAL MARKET ANALYSIS, AND OTHER FACTORS) SUCH TRADING MAY RESULT IN THE INITIATION OR LIQUIDATION OF POSITIONS THAT ARE DIFFERENT FROM OR CONTRARY TO THE OPINIONS AND RECOMMENDATIONS CONTAINED THEREIN.
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE PERFORMANCE. THE RISK OF LOSS IN TRADING FUTURES CONTRACTS OR COMMODITY OPTIONS CAN BE SUBSTANTIAL, AND THEREFORE INVESTORS SHOULD UNDERSTAND THE RISKS INVOLVED IN TAKING LEVERAGED POSITIONS AND MUST ASSUME RESPONSIBILITY FOR THE RISKS ASSOCIATED WITH SUCH INVESTMENTS AND FOR THEIR RESULTS.
TRADE RECOMMENDATIONS AND PROFIT/LOSS CALCULATIONS MAY NOT INCLUDE COMMISSIONS AND FEES. PLEASE CONSULT YOUR BROKER FOR DETAILS BASED ON YOUR TRADING ARRANGEMENT AND COMMISSION SETUP.
YOU SHOULD CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR CIRCUMSTANCES AND FINANCIAL RESOURCES. YOU SHOULD READ THE "RISK DISCLOSURE" WEBPAGE ACCESSED AT WWW.DANIELSTRADING.COM AT THE BOTTOM OF THE HOMEPAGE. DANIELS TRADING IS NOT AFFILIATED WITH NOR DOES IT ENDORSE ANY TRADING SYSTEM, NEWSLETTER OR OTHER SIMILAR SERVICE. DANIELS TRADING DOES NOT GUARANTEE OR VERIFY ANY PERFORMANCE CLAIMS MADE BY SUCH SYSTEMS OR SERVICE.
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