Cannon Futures Trading Weekly Setup Journal

A

austin.cannon

Sponsor
June Australian Dollar is down a bit over 1% this morning.

The AUD joined US stock indices, gold, copper and a few other currencies after the following news flashed:

FEDERAL RESERVE PLANS TO WIND DOWN PANDEMIC CORPORATE CREDIT FACILITY

From a technical perspective we see an opportunity for a possible long with what we consider good risk/reward.

Market: Australian Dollar

Month(s): June 21

Rational: Great structure of a demand zone on the 15-minute candle. The structure was during the open in Australia on April 21st. The demand area structure should have a solid opportunity of holding during high volume trading. Lots of news in the next 24 hours should help expediate the price of the market towards supply. Looking for a bounce for a 3 to 1 risk reward payout. Keep your eyes on the Dollar index during entry. If matching up with lower time frame supply should add to the probability.

Trade: Long Australian Dollar

Long 1 June 21 Australian Dollar future at .7645 with a stop at .7632. Target .7697

Estimated margin requirement: $ 1,980 (day trading margin)

Profit Potential: $ 495 (Net of all commissions and fees)

Max Loss with Stop in place: $ 155 (Net of all commissions and fees)

Trade Management: If trading multiple contracts have a time stop of Friday at market close or target of .7765 whichever happens first.

Please contact Austin AT Cannon Trading for appropriate risk management techniques.

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Good trading to you.

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The risk of loss in trading futures and options can be substantial, therefore only genuine "risk" funds should be used in such trading. Futures and options may not be a suitable investment for all individuals and individuals should carefully consider their financial condition in deciding whether to trade. Option traders should be aware that the exercise of a long option will result in a futures position. Past performance is not indicative of future results. All opinions, trade recommendations, and data disseminated by the provider are subject to change at any time, with no obligation to inform recipients. Customers subscribing to alerts via email, text, or other means of electronic communication may experience materially different performance due to factors such as, but not limited to: timeliness of order placement, slippage, commissions and fees, and order routing delays.
 
Hey, I only use candle stick charting for finding supply and demand zones. I will use volume profile to confirm the strength of a zone.
 
Target 1 Hit.
 
Trade Alert

Gold Futures Long-Profit Target $11,000/Contract

Date: June 24th, 2021
Market: Gold
Month(s): August 21

Rational: This down move in gold is setting up for a great risk/reward/probability long here in Gold. We like this position for a swing trade and we see the dollar entering a supply zone to help see the turn in this market. This is a four-hour demand zone and should see a bounce from it. Might a good play for the inflation move of the summer.

Buy 1 August Gold Future at 1830 with a Stop at 1819 Target at 1940

Please contact us for appropriate risk management techniques.

Estimated margin requirement: $ 10,000
Profit Potential: $ 11,000 (Net of all commissions and fees)
Max Loss with Stop in place: $ 1,125 (Net of all commissions and fees)
Max Loss with Stop in place unlimited


Trade Management: If trading multiple contracts stick to your rules. I like this position for all-in all-out management technique. This is a $11,000 winner and a 110% return on margin (Net of commissions and fees). Should the trade go against us we would have a stop in place at the price of 1819. This would approximately be a $1,125 loss (Net of commissions and fees).


Please Contact Austin at Cannon Trading if interested receiving all of our trading alerts across all markets.


Good trading to you.


COMMISSIONS ARE $35 PER CONTRACT/PER ROUND TURN. COMMISSIONS VARY DEPENDING ON TYPE OF ACCOUNT, FREQUENCY OF TRADING, ACCOUNT SIZE AND OTHER FACTORS. TRADING COMMODITY FUTURES AND OPTIONS IS SPECULATIVE, INVOLVES RISK OF LOSS, AND IS NOT SUITABLE FOR ALL INVESTORS. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. THE USE OF STOP LOSSES DOES NOT GUARANTEE YOU WILL GET OUT AT A SET PRICE. NOR DOES THE USE OF STOP LOSSES GUARANTEE YOU WILL ONLY LOSE A SET AMOUNT. DUE TO THE NATURE OF FUTURES MARKETS, STOP LOSSES MAY NOT BE EXECUTED AT YOUR SET PRICE AND YOU MAY LOSE SUBSTANTIALLY MORE THAN ANTICIPATED. THEREFORE YOU SHOULD CAREFULLY CONSIDER THE RISKS AND REWARDS BEFORE PLACING A TRADE.

Buy 1 August Gold Future at 1830 with a Stop at 1819 Target at 1940
Date: 6/14/21 Market: GOLD Month: August(Q)

upload_2021-6-14_6-36-16.png


COMMISSIONS ARE $35 PER CONTRACT/PER ROUND TURN. COMMISSIONS VARY DEPENDING ON TYPE OF ACCOUNT, FREQUENCY OF TRADING, ACCOUNT SIZE AND OTHER FACTORS. TRADING COMMODITY FUTURES AND OPTIONS IS SPECULATIVE, INVOLVES RISK OF LOSS, AND IS NOT SUITABLE FOR ALL INVESTORS. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. THE USE OF STOP LOSSES DOES NOT GUARANTEE YOU WILL GET OUT AT A SET PRICE. NOR DOES THE USE OF STOP LOSSES GUARANTEE YOU WILL ONLY LOSE A SET AMOUNT. DUE TO THE NATURE OF FUTURES MARKETS, STOP LOSSES MAY NOT BE EXECUTED AT YOUR SET PRICE AND YOU MAY LOSE SUBSTANTIALLY MORE THAN ANTICIPATED. THEREFORE, YOU SHOULD CAREFULLY CONSIDER THE RISKS AND REWARDS BEFORE PLACING A TRADE.
 

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austin.cannon said:
Trade Alert

Gold Futures Long-Profit Target $11,000/Contract

Date: June 24th, 2021
Market: Gold
Month(s): August 21

Rational: This down move in gold is setting up for a great risk/reward/probability long here in Gold. We like this position for a swing trade and we see the dollar entering a supply zone to help see the turn in this market. This is a four-hour demand zone and should see a bounce from it. Might a good play for the inflation move of the summer.

Buy 1 August Gold Future at 1830 with a Stop at 1819 Target at 1940

Please contact us for appropriate risk management techniques.

Estimated margin requirement: $ 10,000
Profit Potential: $ 11,000 (Net of all commissions and fees)
Max Loss with Stop in place: $ 1,125 (Net of all commissions and fees)
Max Loss with Stop in place unlimited


Trade Management: If trading multiple contracts stick to your rules. I like this position for all-in all-out management technique. This is a $11,000 winner and a 110% return on margin (Net of commissions and fees). Should the trade go against us we would have a stop in place at the price of 1819. This would approximately be a $1,125 loss (Net of commissions and fees).


Please Contact Austin at Cannon Trading if interested receiving all of our trading alerts across all markets.


Good trading to you.


COMMISSIONS ARE $35 PER CONTRACT/PER ROUND TURN. COMMISSIONS VARY DEPENDING ON TYPE OF ACCOUNT, FREQUENCY OF TRADING, ACCOUNT SIZE AND OTHER FACTORS. TRADING COMMODITY FUTURES AND OPTIONS IS SPECULATIVE, INVOLVES RISK OF LOSS, AND IS NOT SUITABLE FOR ALL INVESTORS. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. THE USE OF STOP LOSSES DOES NOT GUARANTEE YOU WILL GET OUT AT A SET PRICE. NOR DOES THE USE OF STOP LOSSES GUARANTEE YOU WILL ONLY LOSE A SET AMOUNT. DUE TO THE NATURE OF FUTURES MARKETS, STOP LOSSES MAY NOT BE EXECUTED AT YOUR SET PRICE AND YOU MAY LOSE SUBSTANTIALLY MORE THAN ANTICIPATED. THEREFORE YOU SHOULD CAREFULLY CONSIDER THE RISKS AND REWARDS BEFORE PLACING A TRADE.

Buy 1 August Gold Future at 1830 with a Stop at 1819 Target at 1940
Date: 6/14/21 Market: GOLD Month: August(Q)

View attachment 260869

COMMISSIONS ARE $35 PER CONTRACT/PER ROUND TURN. COMMISSIONS VARY DEPENDING ON TYPE OF ACCOUNT, FREQUENCY OF TRADING, ACCOUNT SIZE AND OTHER FACTORS. TRADING COMMODITY FUTURES AND OPTIONS IS SPECULATIVE, INVOLVES RISK OF LOSS, AND IS NOT SUITABLE FOR ALL INVESTORS. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. THE USE OF STOP LOSSES DOES NOT GUARANTEE YOU WILL GET OUT AT A SET PRICE. NOR DOES THE USE OF STOP LOSSES GUARANTEE YOU WILL ONLY LOSE A SET AMOUNT. DUE TO THE NATURE OF FUTURES MARKETS, STOP LOSSES MAY NOT BE EXECUTED AT YOUR SET PRICE AND YOU MAY LOSE SUBSTANTIALLY MORE THAN ANTICIPATED. THEREFORE, YOU SHOULD CAREFULLY CONSIDER THE RISKS AND REWARDS BEFORE PLACING A TRADE.
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Dam dude, nice call. Nice Start. No muss, no fuss, Giddy UP! Not too shabby.
 

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