Forex managed fund day trading

€ The euro depreciated vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.3395 level and was capped around the $1.3535 level.  Liquidity is expected to taper off later in the week and is expected to evaporate on Friday after the release of non-farm payrolls.  Data released in the U.S. today saw the January S&P/ CaseShiller home price index climb 0.32% m/m and decline 0.7% y/y while March consumer confidence improved to 52.5 from 46.4 in February.  Data to be released in the U.S. tomorrow include MBA mortgage applications, March ADP employment, March Chicago PMI, and February factory orders.  The most important data of the week will be released on Friday when March non-farm payrolls data are released.  Some economists are focusing on job gains of +185,000 with the unemployment rate expected to print at 9.7%.  Economists will also be interested to see if average weekly hours worked increase from last month's reading of 33.8.  Chicago Fed President Evans speculated the U.S. unemployment rate might be 9.25% at the end of 2010 and above 7% at the end of 2011.  Fed Chairman Bernanke will testify on 14 April to the Joint Economic Committee.   In eurozone news, traders await the release of EMU-16 unemployment tomorrow with some expecting the rate to print as high as 10.0%, above the prior reading of 9.9%.  Also, March flash EMU-16 consumer price inflation data will be released tomorrow with some economists expecting a 1.1% y/y gain, especially after German CPI data came in hotter-than-expected.  Data released in Germany today saw February import prices up 1.0% m/m and 2.6% y/y while French data saw Q4 gross domestic product up 0.6% q/q and off 0.3% y/y.  February producer prices will be released tomorrow.  Euro bids are cited around the US$ 1.3335 level. ¥/ CNY The yen depreciated vis-à-vis the U.S. dollar today as the gree [...]

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S&P 500 Emini Day Trading Gap Wednesday March 31, 2010

S&P 500 Emini Futures Day Trading THE GAP [caption id="attachment_2156" align="alignleft" width="493" caption="S&P 500 Emini Day Trading Gap Wednesday March 31, 2010"][/caption]

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Forex day trading news times

Wednesday, 31 March 2010 all times GMT     (last release in parentheses) 0030   Australia        February retail sales (1.2% m/m) 0030   Australia        February building approvals (-7.0% m/m) 0030   Australia        February building approvals (47.6% y/y) 0030   Australia        February private sector credit (0.4% m/m) 0030   Australia        February private sector credit (1.3% y/y) 0500   Japan             February housing starts (-8.1% y/y) 0500   Japan             March small business confidence (42.3) 0500   Japan             February housing starts, annualized (863,000) 0500   Japan             February construction orders (15.7% y/y) 0645   France                       February producer prices (0.7% m/m) 0645   France                       February producer prices (0.4% y/y) 0755   Germany        March unemployment, net change (7,000) 0755   Germany        March unemployment rate (8.2%) 0800   Italy                 February producer price index 0900   Eurozone      February unemployment rate (9.9%) 0900   Eurozone      March consumer price index, estimate (0.9% y/y) 0900   Italy                 March consumer price index 0930   CH                  March KOF leading indicator (1.87) 1000   Italy                 February unemployment rate 1215   US                  March ADP employment, net change (-20,000) 1230   Canada                      January gross domestic product (0.6% m/m) 1345   US                  March Chicago purchasing manager index (62.6) 1400   US                  February factory orders (1.7%) 2230   Australia        March per [...]

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S&P 500 Emini Day Trading Gap Tuesday March 30, 2010

S&P 500 Emini Futures Day Trading THE GAP [caption id="attachment_2153" align="alignleft" width="493" caption="S&P 500 Emini Day Trading Gap Tuesday March 30, 2010"][/caption] S&P Emini 500 Futures left an unfilled gap in it's wake today.  The index traded in a narrow 6 point range after the 5.50 point gap up.  There wasn't much volatility in the market today.  Volume was light at 1.45 million contracts.  Average volume is 2.1 million contracts.  Perhaps the institutional traders are taking the entire week off.  Markets will be closed on Good Friday.

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Twitter Weekly Updates for 2010-03-28

• S&P 500 Emini Day Trading Gap Monday March 22, 2010: S&P 500 Emini Futures Day Trading THE GAP S&P 500 Emini Day T... http://bit.ly/a081AY #
• $eurusd $fx #currency managed funds Twitter Weekly Updates for 2010-03-21 #
• $eurusd $fx #currency managed funds Forex Day Trading Room #
• @KevinMHughes I agree on this but looking at a 4 hour close above this area. test to 1.3515-25 then a plummet. in reply to KevinMHughes #
• @KevinMHughes your telling me, a Market made for a coma in reply to KevinMHughes #
• Just added myself to the http://wefollow.com twitter directory under: #los_angeles_ca #stocks #forex #futures #[...]
  
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S&P 500 Emini Day Trading Gap Monday March 29, 2010

S&P 500 Emini Futures Day Trading THE GAP [caption id="attachment_2149" align="alignleft" width="493" caption="S&P 500 Emini Day Trading Gap Monday March 29, 2010"][/caption] S&P Emini 500 Futures ended the last full week of the first quarter with a doji formation on the Friday daily chart.  Volume was average at 2.16 million contracts.  The day's range was a surprising 13 points, which is above the 14 day average true range of 11.3 points.  Still, volatility has been almost nonexistent in the Emini futures lately.  The big late market sell off on Thursday proved to be a non event as far as Friday's action was concerned.  This will be a short week with the market closed on Good Friday, April 2nd.  Even though the market is closed Friday, it appears non farm payroll numbers will still be released.  That's the current information, watch the news for confirmation of that report.  The expectation for extreme moves in the final three days of the first quarter of 2010 are low.

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l

FOREX, FXDMG "ONE MINUTE TRADER"

EUR/USD / BUY AT MARKET GMT

A WORD OF CAUTION... ALWAYS CONFIRM A TRADE WITH YOUR OWN CHARTS. IT'S NOT GOOD ENOUGH TO FOLLOW SOMEONE WITHOUT SEEING THE WHOLE PICTURE. MY SIGNALS ARE DESIGNED TO ALERT YOU TO WHAT I AM DOING AND WHAT I SEE IN THE MARKET. WATCH YOUR CHARTS AND I TRUST YOU WILL SEE THE SAME. ACT ON YOUR OWN UNDERSTANDING OF THE MARKET AND ALWAYS USE THE APPROPRIATE MONEY MANAGEMENT FOR YOUR ACCOUNT. DISCLAIMER... TRADING THE FOREX MARKET IS A RISKY BUSINESS AND THERE IS NO SUCH THING AS A GUARANTEED PROFITABLE TRADE. IF YOU FOLLOW MY TRADES YOU DO SO AT YOUR OWN RISK AND MUST NOT HOLD ME ACCOUNTABLE FOR ERRORS, OMMISSIONS, COMPUTOR DOWNTIME, INTERNET INTERUPTIONS, OR JUST PLAIN MISTAKES IN MARKET DIRECTION. PAST RESULTS ARE NO GUARANTEE OF FUTURE PROFITS. FXDMG

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TEST COLOR

EUR/USD / BUY AT MARKET GMT EUR/USD / SQUARE ACCOUNT GMT EUR/USD / BUY AT MARKET GMT 

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Forex day trading fund EURUSD moves up Friday close.

The euro appreciated vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.3405 level and was supported around the $1.3265 level.  The common currency has been quite volatile for weeks on account of uncertainty regarding financial assistance for Greece.  Ecofin ministers convened last night and today and an aid package for Greece was formally agreed to involving both financial assistance from the European Union via bilateral loans and the International Monetary Fund.  Late last night, European Central Bank President Trichet said IMF involvement would be "very, very bad" whereas today he indicated he was "happy" with the results.  Greek Prime Minister Papandreou reported Greece will sell more debt at an "opportune time."  The Greek aid package was structured so that Greece can tap the credit facilities if required but it is possible that Greece may never need to utilize these facilities.  Achieving a European  consensus on this issue was difficult but was facilitated by agreement between Germany and France.  Attention will now shift to fiscal woes in Portugal, Spain, and Italy.  Data released in France today saw March consumer confidence worsen to -34 from the prior reading of -33.  In U.S. news, data released today saw revised Q4 gross domestic product print at +5.6% from the prior reading of +5.9% while the GDP price index ticked higher to +0.5% from +0.4%.  Also, the Q4 core personal consumption expenditures index increased 1.8% q/q from the prior reading of +1.6% q/q.  Final March University of Michigan consumer sentiment printed at 73.6, up from the prior reading of 72.5.  Personal income and spending data and PCE numbers will be released on Monday.  Traders are paying very close attention to rising U.S. Treasury yields.  The 10-year Note is now yielding right around the 3.90% level and some economists believe the rate will move significantly higher to the 4.30% level. [...]

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Forex managed funds day trading EURUSD moves up

The USDJPY pair traded at 92.43 earlier today declining from yesterday's high of 92.95 after failing to break the 93 level on speculation Japanese exporters took advantage of its largest weekly loss this year to purchase the currency before the country's fiscal year ends next week. Japan's core consumer prices were -1.2% from -1.3% in February adding pressure on the BOJ to eradicate deflation that is hampering the economic recovery. BOJ board members will update their forecasts for inflation and economic growth in a twice-yearly outlook report to be published at the end of April while predictions in January for core prices were that it will fall 0.8% in the year that starts April 1 and drop 0.4% in the next one year. The USDJPY may rise toward the highest level since January after passing the top line of the cloud on ichimoku charts, according to technical analysis. The pair is also poised to extend gains should it end this week above the 200-day MA of 91.53 which it broke yesterday, moving upto 93.30 levels while on the other hand, the pair may slide to about 90 should it fail to end this week above the 200-day MA. Meanwhile, the EURUSD pair advanced to 1.3319 in early Asian trading after falling to 1.3268 yesterday, the weakest since May 7 and holding above the support level of 1.3250 after ECB President Jean-Claude Trichet said he welcomed an EU agreement on an aid plan for Greece. Trichet added that he was "happy" the region found a solution, toning down his earlier criticism over the IMF's possible involvement taking a complete opposite stance of his earlier statement when he said that an IMF role in the funding of a rescue plan for Greece would be "very, very bad." Trichet is concerned that turning to the IMF to help Greece cope with the EU's largest budget deficit would show that Europe can't fix its own problems and earlier this month dismissed such a move as "inappropriate." EU President Herman Van Rompuy said that the majority s [...]

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EUR/USD Well we have seen a turn at the figure and then a measured run down to just under 1.3370 on what appears to be light volume. We have run into support of the 89 EMA on the 5 min chart and the 34 EMA on the 15 min chart. When your charts are in harmony, you will see different EMA's lining up as support or resistance at the same level on different time frames. Interesting how that works, BUT it does so time after time. We have also run into traffic at this level and are experiencing sideways action at the moment. Keeping an eye on the clock for the NY open and price action move or lack there of. FXDMG

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EUR/USD News out in just over 5 min. FXDMG

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EUR/USD We have a few (4) news items from the US out in just under 1/2 hour 12:30 GMT. One is the GDP (QoQ). Market retraced 20 + pips so far at this writing. Turn ????? We'll see. Remember 10 pips is our goal. FXDMG

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Forex Day Trading Room

EUR/USD [caption id="attachment_668" align="alignnone" width="300" caption="FXDMG"][/caption] This is a 15 min EUR/USD and the price action has continued to 1.3400 the figure and is just holding below at the moment. The day has followed through the turn around (At 1.3270) as you can see on the chart. The 34 & 89 are showing a directional trend change which mirror the longer term charts as well. FXDMG

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EUR/USD Our caution is once again to take heed of the price action. The market did turn on the third rise but it still had another rise as well. This time to 1.3390 +. We missed the last rise as we were still waiting for the eventual turn down. As we write we have retreated from this past high by approx 15/20 pips. The 3 /5 on the 15 min is still riding upside bias but it look like it is weakening. Once we have a confirmation on all three time frames we will look to sell into the turn. Caution needs to be observed here as our major EMA indicators are still pointing up. If they give way then there will be a good opportunity to short the market. FXDMG

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EUR/USD It looks like we could be topping out at the moment. Lower highs and we are coming up on the third hill or third rise since the turn at 1.3380 +. Waiting for the third rise to fail and if so we will be looking to ride the market turn down. Take nothing for granted. FXDMG

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EUR/USD [caption id="attachment_660" align="alignnone" width="300" caption="FXDMG"][/caption] Here is a chart that is easy on the eyes. I just captured this a few moments ago and waiting for the London Open in a few min. FXDMG

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Forex Day Trading Room

EUR/USD Good Morning Traders... Another mix mash of news today, but I do not see anything that would turn a market direction. BUT as always we will be vigilant in scouring sources and if we see anything different we will report. What a sweetheart of a day we saw yesterday. Several short runs on the way up, that excellent turn & run down and then a full retrace today. I wish every day would produce such good signals. Soon we anticipate have our new trading room up and running and then we will be running full audio and video. We will be looking for traders to work for us and if this fits you bill please keep us in mind. Tweet us. Our expanding program for traders and those who want us to trade for them is seeing the light of day. It has taken a long time to get to this point we will soon have a private line and contact info for both traders and investor groups. We are taking a little longer than expected but it is important to keep the legal beagles happy. Finally... London open in a few minutes and we are bouncing above the 89 EMA for now but we will look for a definite market direction before committing. FXDMG

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S&P 500 Emini Day Trading Gap Friday March 26, 2010

S&P 500 Emini Futures Day Trading THE GAP [caption id="attachment_2144" align="alignleft" width="493" caption="S&P 500 Emini Day Trading Gap Friday March 26, 2010"][/caption] S&P Emini 500 Futures gapped up 8.25 points this morning, then proceeded to notch a new high for the year.  The high, 1176.50, provided serious resistance, as the average fell to fill the gap, then continue lower to close near the session low.  The chart volume graph shows volume increasing as the price fell, with a big 100,000+ contract volume in the last five minutes.  Total volume on the day was above average, the daily candlestick formation suggests a bearish tendency.  Watch pre market volume for an indication of how the S&P Emini will trade in the first hour of regular trading after the 8:30 a.m. GDP report.

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Forex managed fund IMF getting involved

Compared to the fireworks of yesterday and EURUSD's fresh lows in Asia at 1.3284, today's European and US session has been more subdued for the majors; with EURUSD taking the opportunity to consolidate between 1.3300 and 1.3370 without looking that likely to threaten fresh lows. Eurozone M3 growth in February contracted -0.4% YoY, more than the -0.1% expected and a disappointing dip after last month's +0.1% reading. However European data was never going to be the main focus of the day, with markets instead focused on the run-up to the two-day EU meeting in Brussels where finance ministers from across the continent are convening to discuss the options and practicalities of dealing with the Greek crisis. So far, the main bone of contention remains the scope for IMF involvement in any bailout, with Germany's Angela Merkel vocal in her opposition to a solely EU-backed rescue which would probably result in Germany having to foot the bill. As such, she has asserted that the IMF must be involved to share the burden; however notably, this stance contrasts with the view of both French officials and ECB members' comments in recent days. This conflicting stream of rhetoric from different Eurozone camps does little to clarify the current state of limbo in financial markets, and if anything gives the impression that a unified solution will be very difficult to thrash out by the end of a two day meeting. In the meantime, GBPUSD has had a whipsaw day after the bittersweet February Retail Sales figures were released in the morning session. Although this month's numbers smashed consensus estimates with sales excluding auto fuel at +1.6% MoM (+0.6% expected) and sales including auto fuel at +2.1% (0.8% expected); there were dramatic downward revisions to the January figures; with sales ex-auto fuel down to -2.1% from -1.2% and sales including auto fuel down to -3.0% from -1.8%. As traders saw the headline figures hit the wires, GBPUSD spiked to an intraday high of 1.5 [...]

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Forex manged account London close

The USD buying continued overnight and indeed accelerated, as China threw some contentious comments into the Eurozone debate. The Greek issue clearly remains in the forefront, as EU officials convene in Brussels today for a two-day summit. At this point, a solution seems a far way off, as decision makers remain divided from an economic standpoint as well as political. German chancellor Merkel provided additional bailout squashing rhetoric, saying there wouldn't be any concrete financial recues plan for Greece in Brussels and that any IMF assistance should only be used as a last resort. Meanwhile, what we consider the biggest barrier to an IMF plan was articulated by ECB Governing Council Member Smaghi harsh words for any IMF rescue measure, stating that this would put the EUR in jeopardy. "Those who are interested in economic and monetary stability in Europe should resist going to the IMF." "To put it provocatively: People should go to the Constitution Court if the IMF is called upon, but not when the EU organizes bilateral assistance." He also stated that he believes bilateral assistance could work within the EU treaty. Also adding to evidence that forward progress would be stymied was a report from the German newspaper Die Welt, that preparations of the Brussels summit are "chaotic" as Greece is not on the official agenda and separate meeting incorporating the 16 euro area nation must quickly be organized. Yesterday's downgrade of Portugal by Fitch, was the initial trigger for a massive sell off in EURUSD as the risk of contagion (which had seem to be lessening) was reintroduced to the market psyche. In the Asian session, PBOC's Zhu commented that the Greek debt crisis was "the tip of the iceberg" and other EU countries were at risk. The EURUSD, which was hanging precariously around 1.3330, collapsed to 1 [...]

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Forex day trading managed fund news

The S&P 500 Index dropped 0.6% to 1,167.72 yesterday, its first decline in three days while the DJIA lost 52.68 points, or 0.5%, to 10,836.15 on concern government deficits will hamper a global recovery as Fitch cut Portugal's credit rating and a UBS economist said Greece will default. The Nikkei rose 0.1% to 10,830.63 as Japanese stocks fluctuated as makers of cars and electronics rose after the JPY weakened to a two-month low against the USD 92.40, while commodity-linked shares fell after oil and metal prices dropped. The JPY rose from a 10-week low against the USD climbing to 91.78 earlier today on speculation Japanese exporters took advantage of its biggest slide this year to buy the currency before the fiscal year end next week. China's stocks fell the most in a week as the Shanghai Composite Index lost 0.8% to 3,031.56 on concern the government will step up efforts to cool asset bubbles. The NZD rose 0.3% to 0.7039 from the lowest in more than a week as the GDP rose 0.8% in Q4 2009, spurring prospects for the RBNZ to raise interest rates. RBNZ's Bollard kept the rate at a record low on March 11 and said monetary stimulus would likely be removed around the middle of 2010 amid higher bank funding costs and a "relatively sluggish" economic recovery with traders betting the RBNZ will increase its interest rate by 180 basis points over the next 12 months. AUD recovered some of yesterday's biggest drop in seven weeks climbing 0.4% to 0.9114 as RBA's Lowe said the mortgage rate "is still around 0.5% lower than the average of the last 15 years" and that the benchmark rate needed to move gradually toward "more normal levels" to contain inflation. The EUR was also close to a record low against the CHF trading at 1.4282 on speculation the EU will fail to agree on decisive measures to help Greece tackle its fiscal deficits at the meeting starting today in Brussels. EUR could see further downside to 1.3000 levels on speculations that Spain [...]

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EUR/USD [caption id="attachment_644" align="alignnone" width="300" caption="FXDMG"][/caption] Here is a chart to chew on. This is a 15 min and as you can see we had a few good signals to pocket some Euro dollars. The Day isn't over yet as New York comes on line within the hour. I am interest in seeing if the price will hold for today or will it continue it's downward trek. Follow the EMA's. They will never let you down. By the way here is why I use the 3&5, 34&89. Fibonacci numbers: 1,2,"3","5",8,13,21,"34",55,"89". My charts I keep to as close to the Fib numbers as possible, I use Fib numbers on my studies as well. That way, there is harmony in them working together. FXDMG

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EUR/USD Well... did you ever open a bottle of soda and "no fizz". Well I think that is what happened again. Other than a widening pip spread of 5to 6 pips, not much. Well lets see if we can find a few more 10/15 pip trades. Perhaps we can still end the day with a 100 pip in the bag. FXDMG

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S&P 500 Emini Day Trading Gap Thursday March 25, 2010

S&P 500 Emini Futures Day Trading THE GAP [caption id="attachment_2142" align="alignleft" width="493" caption="S&P 500 Emini Day Trading Gap Thursday March 25, 2010"][/caption]

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EUR/USD Once again ... a heads up for news out of the US at 12:30 GMT. Initial Jobless Claims & Continued Claims. Just be careful. FXDMG

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EUR/USD The Question is How high will it go... Just past 11:00 AM in London and the EUR/USD has eeeked up to the 1.3360 level where I see a few groups have their stops. I am watching price action crawl up along our EMA's on the three time frames but there does not appear to be much enthusiasm in going much higher. BUT we do not predict where the market will go, we only follow it. Well... as I am writing I see we just had another 8 pip charge and now the retrace, looks like rail road tracks. Well keep an eye open for news in just over a hour(12:30 GMT) I think it could move the market so either be out of be cautious. FXDMG

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EUR/USD At 11:30 GMT, ECB's Trichet Speaks at Conference in Brussels probably a non event as far as moving the market. At 12:30 GMT, we have US Initial Jobless Claims, and Continuing Claims, BE CAREFUL here as this could actually do something. Here I would probably be out of the market until after the release. As I have said before, it only costs 2 pips to enter back into a trade and that is cheep insurance. The rest of the day is sprinkled with more news events but I don't think anything that I would get out of a trade for protection. Although I do suggest you read your favorite news  web site to see for yourself. FXDMG

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[caption id="attachment_629" align="alignnone" width="300" caption="FXDMG"][/caption] Very tight range. Not much motivation for a move up or down. BUT some carful scalps of 10/15 possible. Watch the BB limits. UK retail sales figures out a 9:30 GMT FXDMG

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EUR/USD Anybodies bath tub. We have convergence of the 34 & 89 on the 5 min. and the MACD is neutral. Below the 89 EMA on the 15 min but the 34 is slicing through the price action, and MACD is turning neutral. It look like the Price action wants to stay between the 89 EMA on both the 5 min and 15 min charts. Watch for a narrowing and keep you eye on the B.B. of the 5 min. for a breakout. May take a while. Be safe. FXDMG

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EUR/USD For those of you that watch, the  Euro-Zone M3 s.a. is out in 20 min. FXDMG

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EUR/USD Some PPI numbers out at the bottom of the hour. 8:30 GMT Just a heads up. FXDMG

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EUR/USD Nice positive turn above the 1.3300 the figure. Crawled just above the 89 EMA on the 5 min and is well short of the 89 EMA & B.B. on the 15 min. We'll see if this is the first level of resistance. Keep it tight. You never go broke taking a profit. FXDMG

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EUR/USD Greetings Traders... We are about 1 1/2 hours until London opening and looking at the news for today it look like a hodge podge of events. We will check them closly as they come into focus and if we see anything we will report. EUR/USD broke early yesterday and was giving mixed signals all day. We are holding just above 1.3300 the figure right now with downside bias but not much momentum. This could change OR we could see some consolidation ??? just not sure right now. We will keep an eye on direction and keep our trades tight behind the boat. Watch the timing of your trades and keep an eye on the signal to square your acount as this may be a day for scalping the 10/15 pip trades. Again we'll see. If light volume in the market does a whip saw price action keep your eye on the 1 min / 5 min charts. FXDMG

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Forex mange funds london closing

[caption id="attachment_614" align="alignleft" width="241" caption="forex managed fund day trading london close"][/caption] Forex managed fund levels Eurusd support and congestion zone in the Blue box. Watching for the retrace to the 1.3375 area then a continuation. Long term targets: 1.3220, 1.2885 EURUSD took a significant step lower today as Fitch's downgrade of Portugal and concerns about the possible impact of IMF involvement in Europe overshadowed an unexpected uptick in Eurozone data. After trading extremely heavily in the Asian session, EURUSD clattered down through its critical 1.3425 support and went on to skim 1.3332 lows during the afternoon session. The collapse in EURUSD came in spite of better than expected improvement across all components of the latest Eurozone PMI surveys; the Manufacturing reading posted an impressive 56.3 (54.0 expected, 54.2 prior), Services came in at 53.7 (52.0 expected, 51.8 prior), meaning the Composite reading surged to 55.5 (53.8 expected, 53.7 prior). Germany's IFO survey also smashed expectations with Business Climate jumping to 94.4 from 89.8 last month (consensus had been for a more modest 91.0), and the Expectations reading also impressed at 101.9 (100.9 expected, 100.9 prior). Nevertheless, these small tokens of improvement did little to pacify market sentiment once Fitch announced it was downgrading Portugal to AA- from AA, and outlook negative. A raft of contrasting ECB and EU official rhetoric about the likely fate of Greece and possible IMF in [...]

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Forex day trading Managed fund news.

The EURUSD continued to tumble as a unnamed source, said that German Chancellor Merkel stated there will be no decision on a bailout package for Greece by the end of the EU's two day summit in Brussels. The EURUSD traded below the 1.3425 key support (low May 2008) down to 1.3406, while the GBPUSD traded down to 1.4957 (at the time of writing). The public rift between Germany and EU officials on the Greek situation seems to be increasing daily, dimming markets optimism and weighting heavily on the EUR. There are growing rumors of short term bets against the EUR ahead of what many feel (including us) will be a disappointing close to Brussels. However, there are still EU officials actively searching for a solution, including the President of the EU Council Von Rompuy who was reported trying to actively arrange a pre-summit meeting on Greece to help pave the way for an aid package to be released in Brussels . And the FT reported on a potential bailout package "mechanism" for Greece, which IMF had made a "substantial contribution". However, we remain highly skeptical of the EU tact and remain bearish on the EUR as long as sovereign risk concerns worries. In Switzerland yesterday, SNB Chairman Hildebrand provided a slightly mixed message. On one hand, he repeated that the SNB would fight excessive CHF appreciation and sounded battle ready when he said that they could buy very large quantities of foreign currency if required. And the other reiterated newly-appointed SNB Board Member Danthine comments, that consumers and corporations must get ready for market determined FX prices and higher rates. After the initial EURCHF knee-jerk reaction higher, the pair depreciated down to 1.4232 record low. A wealth of economic releases and events will keep traders busy today. The Norges Bank will release its policy decision today and expectations are mixed. The official Bloomberg expectations are for a hold, but we are leaning towards a 25bp hike. The central bank is stil [...]

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S&P 500 Emini Day Trading Gap Wednesday March 24, 2010

S&P 500 Emini Futures Day Trading THE GAP [caption id="attachment_2139" align="alignleft" width="493" caption="S&P 500 Emini Day Trading Gap Wednesday March 24, 2010"][/caption]

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EUR/USD Good Morning Again... As I mentioned in an earlier post, we are expecting some news data out of the USA at 14.00 GMT Just a heads up. FXDMG

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[caption id="attachment_603" align="alignnone" width="300" caption="15 Min EUR/USD / 13:00 GMT"][/caption]

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EUR/USD Just a heads up. There are 4 USA news releases out at 14:00 GMT. Will it move the market ????? Not sure. Check your favorite news source. 4 more at 20:30 GMT. Again it might be wise to check your favorite news source. If I was in a trade and getting close to one of these news release times, that might whip saw the market, I would square my account and wait for another oppertunity. A 2 pip buy in is cheep insurance. FXDMG

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EUR/USD 8 separate news items released at 9:30 GMT. 4/6 pip move. Watch to see if the direction changes. FXDMG

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UER/USD Major new out in 3 min FXDMG

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Forex managed fund price action London open to New York

[1:39:09 AM]  (Joel): I would watch for support to come in at 1.3510 making this an inverse head and shoulders on the hourly chart with an upside target of 1.3680 then a retext of 1.3810.

[1:39:50 AM](Joel): If we get failure on the 1.3680 then the resistance will give us a 20 - 30 min consolidation on the reversal to new lows.

[1:42:48 AM]  (Joel): ON the down side target breaking first resistance level at 1.3510, I would look for a quidck move to to previous swing low, then a move through to new lows at the 1.34 - 1.3388.

[1:43:09 AM] (Joel): Under there, it is sayonara Euro and hold on.

[1:39:09 AM] (Joel): I would watch for support to come in at 1.3510 making this an inverse head and shoulders on the hourly chart with an upside target of 1.3680 then a retext of 1.3810. [1:39:50 AM] (Joel): If we get failure on the 1.3680 then the resistance will give us a 20 - 30 min consolidation on the reversal to new lows. [1:42:48 AM]  (Joel): ON the down side target breaking first resistance level at 1.3510, I would look for a quidck move to to previous swing low, then a move through to new lows at the 1.34 - 1.3388. [1:43:09 AM] Joel): Under there, it is sayonara Euro and hold on.

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S&P 500 Emini Day Trading Gap Tuesday March 23, 2010

S&P 500 Emini Futures Day Trading THE GAP [caption id="attachment_2136" align="alignleft" width="493" caption="S&P 500 Emini Day Trading Gap Tuesday March 23, 2010"][/caption] S&P Emini 500 Futures took about 30 minutes to fill the morning 6.75 point gap down.  Prices rallied up towards the 1165.00 resistance area, but never quite got there.  Traders are looking for some volatility to reenter the market.  Volatility, as measured by the VIX indicator, has come down very rapidly since the 96.40 high of October 2008.  Currently reading 16.87, the VIX is approaching multi year lows.  As prices go up, the VIX goes down.  The current volatility decrease is the highest percentage decrease since the VIX was started in mid 2000.  That means, for day traders, the probability of a downward correction is significant.  If there is a big correction, look for initial long term support at the 1010 level, with the 900 level a definite possibility.

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EUR/USD price action held firmly under the 34 EMA and the 34 EMA held firmly under the 89EMA on the 15 min chart. We finally got a break out to the down side with an proximate 50 pip move. We will see what New York has in a few minutes but this last run was quick and hard to catch. FXDMG

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EUR/UDS is currently wedged between the 34 & 89 EMA on the 15 min Chart, basically where we started some 15 hours ago. If it holds here for the next hour or so it might take the New York market to move it out. Keep your eye on the 15 min chart

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After breaking the down side bias EUR/USD rose just above 1.3540 level before dropping back to its comfortable 1.3530 level , which you may remember, is where we started the day. If you road the market down you probably pocketed at least 10/15 pips AND if you road this light volume up from just above the figure you should have pocketed another 20/25 pips. Not a big day but it isn't over yet. It is now 09:35 GMT and New York is still six hours away. I believe that downside bias is returning and looking at the 15 min chart we are stalling and reversing for another run at the figure. FXDMG

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Twitter Weekly Updates for 2010-03-21

• S&P 500 Emini Day Trading Gap Monday March 15, 2010: S&P 500 Emini Futures Day Trading THE GAP S&P 500 Emini Day T... http://bit.ly/dzFPV8 #
• #futures #trading #FX S&P 500 Gap for Mar 15, 2010 Support and Resistance http://bit.ly/cyASbl #
• #FX support on #eurusd at 1.3640 if we get a punch through here looking for 20 more pips. retest to 1.3670 then continue? #
• @zerohedge President Of Just Failed Park Avenue Bank Arrested On Bank Bribery, Embezzlement Fraud Charges http://tinyurl.com/y8nq9qm #
• #fx trading is not a matter of Fixing your system. Strategy that includes losses and uses Risk Management first is the key. Stick to plan. #
• #futures #day trading course April 10-12 #[...]
  
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EUR/USD is continuing down side pressure and price action has been following the underside of the 34 EMA on the 15 min chart, and the 34 is under the 89 EMA as well. We are at a critical area right now as a break of the 1.3500 could give us legs to the downside OR this could be the area of support that, if strong enough, could send the markets back up for a short time. One of the reasons we are so careful at an even figure is that this is the area that THEY like to run past 10/15 pips and then reverse. We have not traded so far today as the volume has been weak and our EMA line have been so close together but not crossing. JJ at Ace Trader once told me that the biggest mistake he sees is that new traders think that they must be in the market. I think that is true, but the best trade is the one that comes to you and makes sense. There are always two or three good profitable trades a day. FXDMG

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EUR/USD has started a retrace off of today's bottom on very light volume. We have had three sets ups for 10/15 pip moves and in a normal market I would have acted on at least two of them. Now we see the market returning to the area that it started several hours ago. And is about 8 pips off the bottom of today's low (So far). We keep running into the 34 & 89 lines of different time frames. Keeping an eye on 1, 5 & 15 for a good set up. FXDMG

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Continued light volume. Some Oscillators swing to upside bias BUT MA's still pointing down. Mixed signals, no direction. Continue watching 1 min, 5 min, 15 min. [caption id="attachment_569" align="alignnone" width="300" caption="FXDMG 4 Hour Chart"][/caption]

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S&P 500 Emini Day Trading Gap Monday March 22, 2010

S&P 500 Emini Futures Day Trading THE GAP [caption id="attachment_2133" align="alignleft" width="493" caption="S&P 500 Emini Day Trading Gap Monday March 22, 2010"][/caption] S&P Emini 500 Futures gapped up to lead off quadruple witching Friday.  It turned out to be a mild event volatility wise.  The markets seem to be held hostage to events emanating from the U. S. Congress.   Monday's big unknown is how traders will react to events that occurred over the weekend.

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Noticeably light volume so far in EUR/USD. Not unexpected, although we have had a range of 20 plus pips since opening. Date change in London is a few minutes and a light news day ahead. Still waiting for a clear set up. FXDMG

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Forex day trading support Forex manged fund

[caption id="attachment_561" align="alignleft" width="272" caption="Forex day trading 15 min chart"][/caption] Forex day trading 15 min chart levels of support and resistance. we have tested the short term support at 1.3530 area and now will test down to the 1.35 figure. If we get some commitment I would look at visiting previous lows. If we have a double bottom, then looking from a retrace to the 1.3580 area. Look for a touch of volatility to enter as the week goes on and there is no break of support.

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Forex Day Trading Room

Market maintaining down side pressure from Friday. Weakening.  No trade at present. FXDMG

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FXDMG TRADING ROOM / 21/03/2010 / 21:15 GMT

Good Morning/Afternoon/Evening Traders... A beginning to a new week. I ran across an article that you may find interesting, "Yuan Poised to Become Reserve Currency, Goldman's O'Neill Says" It is a Bloomberg article and can be found at http://www.bloomberg.com/apps/news?pid=20601103&sid=aD4LDUDg61VU With the political climate constantly changing in the world today it is easy to lose site of what we are doing, which is to follow our charts and make profitable trades. I will try "not" to show any political leaning but will from time to time post an article that is important to traders and could possible move the market. I do not trade major news items on there release, and if in a trade I will square my accounts until after the news has been released. Then if it makes sense I will re-enter the trade and all it cost me was a few pips which I have found to be cheep insurance. In the next few hours I will begin posting trades as I see them. Normally at this time (The beginning of a trading week) I let my charts catch up to the weekend data. If Fridays close is within 10/15 pips of the new weeks open, I will enter a trade early when one reveals itself.  BUT... I follow my charts as a pilot follows his instruments. Add a dash of intuition and experience and this has proven to be a winning combination. A word of caution... always confirm a trade with your own charts. It's not good enough to follow someone without seeing the whole picture. My signals are designed to alert you to what I am doing and what I see in the market. Watch your charts and I trust you will see the same. Act on your own understanding of the market and always use the appropriate money management for your account. FXDMG

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Forex manged day trading fund pennant

Forex managed day trading signals. Shorted Euro from 1.3540 on this pennant, watching the support at 1.3535, if we can get a commitment of some volume here on sell side we might get that psychological shot below the 1.35 line.  Lots of buyers at that level [caption id="attachment_553" align="alignleft" width="242" caption="Forex managed fund day trading penant support"][/caption]

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Forex day trading managed fund consolidation

Forex day trading managed fund consolidation Watching as the market is in decision on direction after the push down.  It seems there should be a minor retracement into the 1.3525-35 area before the next leg down.  This consolidation zone is shallow. [caption id="attachment_549" align="alignleft" width="214" caption="Forex day trading managed fund consolidation"][/caption]

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Forex managed fund day trading risk.

Forex managed fund Day trading risk EurUsd As we feared yesterday, after a second failed attack on 1.3800 major resistance (and 50.0% fibonacci retracement of 1.2457-1.5145), EURUSD's slump through 1.3640 confirmed a short-term double-top formation on the hourly chart, and the subsequent sell-off has seen us dip to 1.3587 lows so far. Although former intra-range support is still anticipated below at 1.3530, the target of that double top is further down at 1.3460 (measured as the distance from the neckline to the highest peak, then subtracted from the neckline), not far off the critical 1.3425 support that has been in place since May 2009. Looking at the daily chart, we can't help but notice the parallels between this past month's price action and the earlier consolidation in Dec-Jan –which also failed to overcome the upper bound of the downtrend channel just before a collapse of nearly 8% in the subsequent 5 weeks. The evening star candlestick pattern on the daily chart also makes for uncomfortable times for EURUSD bulls. Ultimately, the fidelity of our current uptrend will be crucial to staving off another leg lower for this pair, and coincidentally, the lower bound of that channel comes in today at 1.3530 (note this is the same level as prior intra-range support). GbpUsd GBPUSD has come off considerably in the past day; predominantly a sell-off in sympathy with the move in EURUSD, but notably one which has negated GBPUSD's support zone at 1.5200-20, and fuelled a move lower to 1.5130 this morning. We can however, put a slightly more positive spin on the price action in GBPUSD; as our stochastic indicator is already in deeply oversold territory (although no crossover buy-signal has been forthcoming yet), and the hammer candlesticks on the weekly chart are suggestive that bearish momentum is waning. The short-term uptrend channel is seen around 1.5060, which is the nearest support on our radar below [...]

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S&P 500 Emini Day Trading Gap Friday March 19, 2010

S&P 500 Emini Futures Day Trading THE GAP [caption id="attachment_2125" align="alignleft" width="493" caption="S&P 500 Emini Day Trading Gap Friday March 19, 2010"][/caption] S&P Emini 500 Futures had quiet day with little change from the prior close.  Friday is know as a quadruple witching day.  That's when stock options, etf options, futures, and futures options expire on the same day.  This infrequent event can cause extreme volatility in stocks, options and futures trading.

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Forex managed funds dollar strengthens

[caption id="attachment_540" align="alignleft" width="226" caption="Forex trading eurusd 3-18 Managed forex funds"][/caption] Forex managed funds and day trading room - Inability to close above 1.38 and the European community wavering on any support for Greece is strengthening the dollar as a flight from risk. Downside targets, 1.3580 1.3475-85 1.3340 expecting a retrace to  the 1.3625-35 area then continuation. FX Markets continue to lack conviction and suffer from frivolous risk "on / off" sentiment (unlike equities and commodities, which have taken a clear bullish tone). The EUR and GBP's rally was halted dead in their tracks after the wires cited Greek officials (some reports named other anonymous) stating that he was not hopeful a solid aid proposal would be reached at the March 25-26th EU summit and was prepared to go to the IMF. To make matters worse, the source said that the bad feelings between Greece and Germany had increased, making negotiations difficult. Greek Deputy PM Sachinidis said later lack of support for Greece by EU leaders would have significant consequences for the EUR. These words clearly provided a reality check for the markets that the situation in Greece is far from being resolved (despite continued EU bailout grandstanding). Elsewhere, EU Commission President Barroso said the design of a bailout mechanism for Greece is being developed. And in response to comments from German Finance Minister Schaeuble and Chancellor Merkel, that a member state could be forced out, Greek Prime Minister Papandreou adamantly stated tha [...]

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S&P500 day trading course 15 days up

S&P500 day trading course, rarely seen 15 days up.  The S&P500 emini futures contract has reached a decision point.  We have been in a bullish rally for almost a month with no real retracement in price action.  Seeing 15 green candles in a row is rare. [caption id="attachment_2121" align="alignleft" width="267" caption="S&P500 day trading course daily top 3-18"][/caption]

S&P 500 day trading course

Forex Managed Funds / GMT

FXDMG Good Morning/Afternoon/Evening Traders... Today 18/3/2010 was a slow trading day but we were able to scalp out a few 10/15 pip trades. This is the first day that I have published on the "Money Maker Edge" web site and I am just getting my feet wet. Tomorrow (Friday the 19^th) I will be off on a trip to Hong Kong and will be back for the opening of the new trading week. I will try to standardize our signals and make postings on a template style for now. I apologize for not getting any charts up for you to look at today, as I don't have the posting system memorized yet, but again will try to have it for this next week. They say a picture is worth a thousand words and the more you see what I see the easier it will be for you to see why I get in and out of trades. I trust that this web site at Money Maker Edge helps with your trading and I encourage you to spend as much time getting to know this market as you are able. It truly can be a blessing and even if you don't want to trade your own account, the information we present will help you understand what is possible if you put your mind to it. The difference between a young person with a new drivers license, and a seasoned truck driver is thousands, hundreds of thousands and even millions of miles. It's just experience. The only magic to trading is the hard work and long hours that we put in. Oh and the losses that go along with learning. The main difference between me and a new comer is that I have had more opportunity to make mistakes and learn from them. My challenge to you is this: Access this web site as often as you are able, to follow what I am posting. They say that two heads are better than one, and sometimes that is true, so anyone that you know who is also interested in what we do, please have them access the postings as well. Hey, they are even delivered free to your twitter account. There is a world [...]

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Forex Managed Funds / 11:40 GMT

FXDMG The 89 line held on the 5 min as it did on the 4 hour chart as well. We seem to be ranging under 1.3690 and above 1.3665 no direction at present. 10 separate news items out in about 50 min (12:30 GMT) All at the same time. Perhaps a market mover, may be wise to hold off until after the release.

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Forex Managed Funds /

FXDMG Mixed signals at the moment. EMA 89 lines across are holding price action between signals. Waiting for a clear directional trade.

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Forex Managed Fund / Possible set up

FXDMG

LSE Hours of Operation

Hours of operation / trading occurs on the London Stock Exchange's in accordance with the schedule appearing on the following table.

LSE Hours of Operation

Trade Reporting	07:15 - 07:50
Opening Auction	07:50 - 08:00
Continuous Trading	08:00 - 16:20
VWAP	16:20 - 16:30
Closing Auction	16:30 - 16:35
Order Maintenance	16:35 - 17:00
Trade Reporting Only	17:00 - 17:15

Note:  UK Time is in the Western European Time Zone (WET), which is the same as Greenwich Mean Time (GMT).   Summer (Daylight-Saving)Time is observed in UK Time, where the time is shifted forward by 1 hour;  1 hours ahead of Greenwich Mean Time (GMT+1).

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FOREX MANAGED FUND / UPSIDE CLEARING

CLEAR BUY eur/usd AT 1.3672

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FOREX MANAGED ACCOUNTS /

FXDMG The past 24 hours has seen the EUR/USD in a down side pattern that started just above 1.3800 the figure, with the current direction slowing down and loosing steam on the 15 min chart MACD.  GBP & CHF tracking properly, it is wise to watch for direction change. This move  has rested or retraced 5 time in the past 24 hours, and is resting at the bottom of the Bollinger Band on the 4 hour. A wise precaution is to watch the news items today as there are several that may move the market. In past days the news didn't have much of a punch but now is not the time to be complacent. KEEP AN EYE ON THE 15 MIN. {Will supply charts next week} FXDMG

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Managed Forex Funds

Greetings Fellow Traders...

While looking at some web sites that give free Technical Analysis, I become more convinced that the main reason that these sites, (Usually on trading platforms) give free analysis is that they just want you to trade. It doesn't matter to them in which direction, just trade. Then, if the market does go in the direction they recommend, they are hero's, if not there are a thousand reasons why it isn't their fault. Sound familiar ?????

Hello my name is David and I trade real money in real client accounts. I spend my trading day in front of the screens looking for trading opportunities in what I call "Skiing Behind The Boat". I do not "predict in advance" market direction, use a crystal ball nor do I flip a coin, I will leave that up to the Market Prognosticators.

You will notice, I am not a professional writer or speaker. I do not use a robot nor am not just a technical trader. Although I have nothing but respect for those who understand technical analysis. I do not hold trades for more than a directional run, most runs last from minutes to a few hours.

I trade only one currency pair at a time, usually EUR/USD. (I would rather know the in's and out's of one currency rather than try to know them all). Instead of spending pages telling you what I do and don't do, I intend to tell you what I see and if appropriate I will tell you why I believe what I believe. No lengthy diatribe.

Important: There may be several trading opportunities each day, so it is important to keep access to "Money Makers Edge".

HERE IS HOW I TRADE

After spending ten's of thousands of dollars on courses, private tutoring, software and gadgets, I found that there is a simple [...]

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S&P 500 Emini Day Trading Gap Thursday March 18, 2010

S&P 500 Emini Futures Day Trading THE GAP [caption id="attachment_2118" align="alignleft" width="493" caption="S&P 500 Emini Day Trading Gap Thursday March 18, 2010"][/caption] S&P Emini 500 Futures trading left an unfilled gap in it's wake Wednesday.  Today's open was 3.50 points higher than the Tuesday close  Market action continued it's bullish behavior on average volume leading into options expiration Friday.  The index remained comfortably above prior resistance at 1150, and did not touched that price at all in today's trading.  Today's close, 1161.75, marks the highest close for the year, the highest close since the March 2009 lows, and the highest close since October 3, 2008.  That's a lot of new high information, and may confirm the overbought condition shown on most time frames.  The effect of options expiration will be gone next week, and the markets may exhibit behavior that will show if a resumption of the prior rally has begun.  Look for resistance at 1200, and support at 1150 for the next few trading days.  Watch for volatility generated by three important reports tomorrow, CPI, Jobless Claims and Philly Fed Survey.

S&P 500 day trading course

Forex trading eurusd support

Forex day trading the Support and resistance set up today held well and targets were taken. Short term trading, will post the support and resistance before London open this evening. [caption id="attachment_504" align="alignleft" width="235" caption="Forex trading EURUSD"][/caption]

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Forex trading US open managed funds

• China asks US groups to back currency stance - FT • US Treasury Securitary Geithner stated that China should decide that a move to more flexible exchange rate is in its own best interest. • The BoJ leaves target rate at 0.10% and increases QE to Y20 trln as predicted by Nikkei. The vote was 5-2, Noda and Suda dissent & keeps economic assessment as is. • Australia Jan Westpac/MI leading index tips 6.3% growth, coincident index up to +3.9% • Australia Q4 dwelling unit starts printed at 15.1% q/q vs. +6.0% exp. • New Zealand Q1 consumer confidence index 114.7, vs. Q4 "09 116.9.

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S&P 500 Emini Day Trading Gap Wednesday March 17, 2010

S&P 500 Emini Futures Day Trading THE GAP [caption id="attachment_2114" align="alignleft" width="493" caption="S&P 500 Emini Day Trading Gap Wednesday March 17, 2010"][/caption] S&P Emini 500 Futures gapped up 3.50 points this morning, that filled when prices retreated to within a tick of yesterday's close.  Traders pushed the futures through the 1150 mark at 11:00 a.m. on big volume.  The magic level became support, as the market tested, pierced then held above it until the close.  The bearish volume spike in the last five minutes is to be expected when prices close above psychological resistance.  The index is still overbought, and could experience a move below 1150.  A move below, then a move back above on heavy volume could validate a resumption of  the up trend begun March 2009.  Volume was average at 2 million contracts.  The index marked a new high for the year, and a new high since March 2009.

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EURUSD forex trading 1.3780 to 1.38 resistance

Forex day trading course EURUSD trading 1.3780 to 1.38 resistance.  You can see here that the resistance here is the tell tale for direction, if we turn below 1.37 then down we go.  1.3780 is the first level of resistance the 1.38.  If we can close above 1.3815 then we are testing up to 1.3920 level. [caption id="attachment_497" align="alignleft" width="235" caption="Forex trading system 1.38 resistance currency trading"][/caption]

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S&P 500 Day Trading Course Gap for Mar 16, 2010 Support and Resistance

With another day of tight trading, prices moved a total of 10 points through the day on less than impressive volume again.  Only 1.41M contracts were traded through the day, still another sign of the struggling market with do where to go.   For days now price will test resistance at the top and back off, testing the waters but not jumping in.   For the moment I feel that there is not much to do but be patient and wait.  Watching for the market makers to make their move, and put some direction back into this slow and seemingly confused market. 

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Forex day trading london and us open

Putting aside the plethora of important economic data releases, this should still be an important event filled week to say the least. In the Eurozone, The Eurogroup of 16 Eurozone Finance Ministers is due to convene in Brussels today, then the wider Ecofin group of 27 on Tuesday. The media buzz / speculation has been mixed, with a slight lean (perhaps it makes for better news) that some bailout solutions will be announced. However, we still believe that EC drag their feet as long as possible in the hopes that markets "normalize" and any shift in the original tone of the Maastricht Treaty completely avoided. Chinese Prime Minister Wen Jiabao threw cold water on last weeks CNY appreciation exuberance. Wen Jiabao said that the CNY wasn't undervalued and rejected other nation's unwarranted political pressure. Generally BoJs two-day meeting are hardly a mark in FX trader calendar, however this week it should warrant a great deal more attention. Overall is this environment especially considering the Greek situation and UK potentially reinstating their QE we favor long USD and EM positions.

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S&P 500 Emini Day Trading Gap Tuesday March 16, 2010

S&P 500 Emini Futures Day Trading THE GAP [caption id="attachment_2110" align="alignleft" width="493" caption="S&P 500 Emini Day Trading Gap Tuesday March 16, 2010"][/caption] S&P Emini 500 Futures opened Monday with a small gap that filled quickly.  Pricing once again pierced the 1150 level, but could not muster the strength to plow through the price.  Volume on the day was a below average 1.7 million contracts, and the average trading range has fallen to 10.75 points.  Today's range was about 10 points.  The close formed a virtual daily doji again, as traders seem to be waiting for some sort of catalyst that will result in some sort of direction.  Perhaps the Fed announcement tomorrow afternoon will provide a directional spark.

S&P 500 day trading course

S&P 500 Gap for Mar 15, 2010 Support and Resistance

Looks like prices could test to 1134 today if we see a little push through the 1141 area.  Targets from there would be 1127 and 1119.  Should prices move to the upside we could see a retest of 1150, then 1160.  We are going into the week in an overbought position, watch for the break it will come.  Just be patient, trade what you see.

S&P500 day trading course

S&P 500 Emini Day Trading Gap Monday March 15, 2010

S&P 500 Emini Futures Day Trading THE GAP [caption id="attachment_2107" align="alignleft" width="493" caption="S&P 500 Emini Day Trading Gap Monday March 15, 2010"][/caption] S&P Emini 500 Futures started Friday with a gap up to test the 1150.00 level. That level was pierced, then prices quickly fell into a relatively narrow range that found resistance at 1146.50. The close of 1144.75 approximated the median of the 4 point range that persevered for most of the day. The daily candlestick closed in a doji reflecting the current uncertainty as to market direction. Volume for the day was average, and the flat results marked the first day in the last 11 days without a higher close. Next Friday is options expiration which often is preceded with bullish market behavior. There appears to be massive resistance at the 1150 level, so look for a flat week. In the next couple of weeks, there may be a retracement to the 1110 level. A break through the 1150 level on sustained volume would signal a probable resumption of the up trend which began in March of 2009.

S&P 500 day trading course

S&P 500 Emini Day Trading Gap Friday March 12, 2010

S&P 500 Emini Futures Day Trading THE GAP [caption id="attachment_2104" align="alignleft" width="493" caption="S&P 500 Emini Day Trading Gap Friday March 12, 2010"][/caption]

S&P 500 day trading course

S&P 500 Day Trading March 11, 2010 Support and Resistance

Today the market opened at 1140.50, up slightly from yesterday's close at 1139.75. The gap was nearly reached in the first few minutes of trading but filled just after midday. The market steadily rose throughout the morning, reaching our high for the trading hours at 1148.00. There was a slight retracement down to 1139.25 from the mornings upward movement. But this movement down was shortlived and the s&P 500 quickly rose back and closed at 1144.75. The range for the trading day was a fairly narrow one at 8.75 points. We will need a movement about 1148 to keep this upward trend in tact but with jobless claims coming out tomorrow, the continuation seems dim. Remember to change to your June contract tomorrow!

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S&P 500 Emini Day Trading Gap Thursday March 11, 2010

S&P 500 Emini Futures Day Trading THE GAP [caption id="attachment_2101" align="alignleft" width="493" caption="S&P 500 Emini Day Trading Gap Thursday March 11, 2010"][/caption] S&P Emini 500 Futures had a small gap that filled quickly Thursday morning.  Today's action tested, but did not pierce the high since the March 2009 low.  That high, 1148 is also the 2010 high.  Volume was above average today as the index closed up for the ninth day in a row.  A solid, sustained move above 1150 indicate a possible resumption of the up trend that started last March.  The index appears overbought, however, and continuation of this most recent move appears unlikely, at least in the near term.  Jobless claims tomorrow pre market may provide a catalyst for an indication of direction moving into options expiration next week.  Remember, tomorrow is the transition day into the June 2010 contracts.  Many traders watch the time and sales indicator, and switch to the new contract when volume swings in that direction around mid day.

S&P 500 day trading course

S&P 500 Day Trading Course Gap for Mar 10, 2010 Support and Resistance

With Volume still under average, we have been watching prices move slowly and through tight ranges for about a month now.  Prices have moved their way back to the highs we visited back in Jan in the mid  1140's.  Prices seem to be into the overbought area as we are approaching this, with prices climbing back 100 points from our Feb 5 low of 1040.75.  A sell of in the near future isn't out of the question, but watch for it as prices could keep floating through without an increase in the volume to support a move either way.  Wednesday's trading could see prices revisit the previous days high of 1144, then 1148 as the high from Jan.  Should prices decide to test back down we would be looking at 1136.75 and then 1134.00, with 1126 as an extreme low.

S&P500 day trading course

S&P 500 Emini Day Trading Gap Wednesday March 10, 2010

S&P 500 Emini Futures Day Trading THE GAP [caption id="attachment_2097" align="alignleft" width="493" caption="S&P 500 Emini Day Trading Gap Wednesday March 10, 2010"][/caption] S&P Emini 500 Futures gapped down at the open, but filled in the first 30 minutes of trading.  Today is the one year anniversary of the S&P Emini 500 Futures low of 670.75.  The futures have gained 71% since March 9, 2009.  Some volume came back into the market today, with volume coming in at 1.76 million contracts, just under the 50 day average of 1.91 million.  Daily charts indicate an overbought condition as the index slowly moves to perhaps challenge the 2010 high of 1148.  This week's trading volume is diluted as traders change to the June 2010 contract from the March contracts.  This Thursday should see volume move from the 03-10 contracts to the 06-10 contracts.  Watch time and sales indicators to see which contract yields the most volume on that day.

S&P 500 day trading course

S&P 500 Emini Day Trading Gap Tuesday March 9, 2010

S&P 500 Emini Futures Day Trading THE GAP [caption id="attachment_2095" align="alignleft" width="493" caption="S&P 500 Emini Day Trading Gap Tuesday March 9, 2010"][/caption] S&P Emini 500 Futures opened at the Friday close with no opening gap.  Trading was very light, the day's total volume was 1.18 million contracts.  Normally, a good trading day would have that many trades in the first hour.  The close for the day just about equaled the open, and did equal Friday's close of  1137.75.  The doji close, the light volume, the new recent daily high points to a market in decision.   If the short term up trend continues, look for a test of the January high of 1148.  There seems to be little conviction for movement either way however.  The next news event of any magnitude will most likely provide the catalyst for determination of market direction.

S&P 500 day trading course

S&P 500 Emini Day Trading Gap Monday March 8, 2010

S&P 500 Emini Futures Day Trading THE GAP [caption id="attachment_2092" align="alignleft" width="493" caption="S&P 500 Emini Day Trading Gap Monday March 8, 2010"][/caption] S&P Emini 500 Futures left an open gap Friday. Out of town so minimal commentary.

S&P 500 day trading course

forex trading us market wrap

• UK PPI output prices (Feb) rose to +4.1% y/y the highest levels seen for 14 months • German Manufacturing Orders (Jan) jumped +4.3% m/m; its biggest jump since Jun 2007 • German Chancellor Merkel quoted as saying "we should stand helpfully by Greece's side" • German Economics Minister Bruederle reported to have said German government does not intend on offering Greece "even one cent" • EURUSD weighed by an article in the WSJ: Spain's Woes Start to Sting Big Banks • A YouGov poll highlighted the Tory party lead has shrunk in key marginals ahead of this summer's UK general election • US non-farm payrolls (Feb) solidly better than expectations at -36k (-68k expected, prior revised down to -26k from -10k). A very good reading considering the snow effect dampening job growth. • US Unemployment (Feb) held steady at 9.7% (9.8% expected)

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S&P 500 Emini Day Trading Gap Friday March 5, 2010

S&P 500 Emini Futures Day Trading THE GAP [caption id="attachment_2089" align="alignleft" width="493" caption="S&P 500 Emini Day Trading Gap Friday March 5, 2010"][/caption] S&P Emini 500 Futures should have a big day tomorrow. The non farm payroll will be released pre market Friday, and that usually results in high volatility as traders attempt to digest the impact of the numbers. Often, the best advice is to stand aside initially and let things shuffle out.

S&P 500 day trading course

Goldman Sachs controls the world. Video

This is an interesting look at Goldman Sachs. Beware, not for the weak. Watch at your own risk.

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S&P500 day trading course mid day head and shoulders

S&P500 day trading course looking at a Head and Shoulders on the hourly chart. We are caught between 1118 and 1120, in long term consolidation. Watching for a head fake then a counter move to give us the momentum to break out. 1124 target or 1114 target. Higher low points to higher high but the symetrical pattern into the break out is either direction. 2:00 could be the key. Gap closed for the day. [caption id="attachment_2086" align="alignleft" width="280" caption="S&P500 day trading H&S"][/caption]

S&P 500 day trading course

S&P 500 Day Trading Course Gap for Mar 4, 2010 Support and Resistance

After another day in the consolidated books, trading moved a slightly higher 9.5 points through Wednesday's trading.  Prices did hit resistance in the 1125 area, where price tested and failed moving back into the sideway channel we have been stuck in for the last 3 days.  Volume was low again with only about 1.56M through the day. Thursday I am watching for signs of a continuation back down, or another move up.  This sideways trading is a market in decision so be ready when the decision comes.  If we decide on changing direction I am watching for a move back to 1106, then 1100, and 1093.  Should market makers move prices through the 1125 resistance, I will be looking for 1127.25 and 1138.75 as the next targets.  Remember to get good confirmation, we are not necessarily out of the consolidation yet.   A lack of Volume may keep this market right where it is for another day or two.  Only one way to know. See you at the starting line!

S&P500 day trading course

S&P500 day trading course live room charts

S&P500 day trading video below. This could be the Lower high on the long term bullish trend. If the S&P500 emini breaks above the 1127 on an hourly chart we could retest previous swing high. S&P500 day trading course levels of support and resistance. Looking for support at 1102.75 and extreme high of 1125.

S&P 500 day trading course

S&P500 day trading course Video

S&P500 day trading course levels of support and resistance. Looking for support at 1102.75 and extreme high of 1125. This could be the Lower high on the long term bullish trend. If the S&P500 emini breaks above the 1127 on an hourly chart we could retest previous swing high.

S&P500 day trading course

S&P 500 Day Trading March 4, 2010 Support and Resistance

Today, the S&P 500 opened 3.25 points higher than yesterday's open  at 1117.00. The opening price was at 1120.25 this morning. The gap slowly filling towards the later half of the day. We saw another steady rise during the morning with a move down towards the end of the day. Our range for the day was 9 and a half points. The high for the trading session was 1125.00 and the low for the day was 1115.50. The day ended at 1118.50.

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S&P 500 Emini Day Trading Gap Thursday March 4, 2010

S&P 500 Emini Futures Day Trading THE GAP [caption id="attachment_2080" align="alignleft" width="493" caption="S&P 500 Emini Day Trading Gap Thursday March 4, 2010"][/caption] S&P Emini 500 Futures took most of the day to fill this morning's 3.50 gap up.  Volume was lighter than average as many traders appear to be waiting for Friday's non farm payroll numbers.  Direction will probably remain sideways until the report is issued.

S&P 500 day trading course

forex trading eurusd targets

[caption id="attachment_483" align="alignleft" width="277" caption="Forex trading system targets"][/caption] Forex trading system looking for resistance at: 1.3735 1.3775 1.3838 we have to break 1.3850 to see a break on this bearish trend. Looking for some big moves on Friday.  Keep your eyes open.

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Forex trading- slow week- news wrap

Looking for resistance at 1.3735 then 1.3767 Barring a bombshell from the Greek austerity press conference, we believe markets will stay relatively quiet ahead of the BoE, ECB and Fridays NFP. Leaks of the announcement conference have spilled out, with media outlets citing Greek government sources, saying that the government has decided on $6.5 billion in extra austerity measures, decided to raise VAT by 2% to 21%, closing fiscal loopholes, and will be trimming salary bonuses by 30% in 2010. There are rumors and IMM reports which suggest there are some still very big short GBP and EUR positions (although the short EUR trade lost most its steam in late February, despite heavy media coverage) and a small rally in risk could lead to decent short squeeze. In Australia, the real GDP grew 0.9% q/q and 2.7% y/y in Q4 vs. 0.9% q/q & 2.4% y/y exp. Growth was slightly higher than we or the market were expecting, yet the positive news failed to translate into a stronger AUD. • USD Feb auto sales at 10.38 mln unit annual rate, Jan 10.8 mln - Autodata. • USD Feb light vehicle sales +12.2%, No. America-built 9.85 mln SAAR. • GBP Feb Nationwide consumer confidence 80, Jan rev 74, highest since Jan "08. • GBP Feb BRC shop prices +1.7%, Jan +2.3%, food price gains lowest in 3 yrs. • AUD Treasaury Swan states he is looking to impose 2% cap on spending growth in "10-11. • AUD Q4 GDP printed to the upside at +0.9% q/q, as exp +2.7% y/y, +2.4% exp. • AUD Feb new vehicle sales +9.8% m/m, +17.1% y/y, -1.8% m/m sa • Todays US ADP report will be important in adjusting forecasts for Fridays NFP • WSJ suggests that US goverment will probe hedge fund on bets against EUR

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S&P 500 Emini Day Trading Gap Wednesday March 3, 2010

S&P 500 Emini Futures Day Trading THE GAP [caption id="attachment_2077" align="alignleft" width="493" caption="S&P 500 Emini Day Trading Gap Wednesday March 3, 2010"][/caption] S&P Emini 500 Futures had another unfilled gap today.  The opening gap was 5.25 points, and the average fell to within 1.25 points of filling.  The chart marked the third up day in a row, but market action suggests the up move is running out of steam.  Volume was below average, and the depth was a narrow 7.50 points.  Expect traders to begin marking time awaiting Friday's employment numbers.  Non farm payroll will be released Friday pre market, and that news is almost always expected to inject added volatility into Emini Futures trading.

S&P 500 day trading course

S&P 500 Day Trading Course Gap for Mar2, 2010 Support and Resistance

With yet another weak volume move up prices moved through the previous resistance high of 1112 and into the 1115 area.  Prices closed trading for the day at 1114.00 after trading a consolidated 8.75 point range though the day.  The lack of commitment on these moves up through resistance make it probable that they will retrace back down for another test on support.    Where that will be depends on how high these prices float before market makers decide to sell off.  Be careful, there is still more tight ranges and slow moves to come. 

S&P500 day trading course

S&P 500 Day Trading March 2, 2010 Support and Resistance

Today the S&P 500 opened at 1107.25. With the market closing on Friday, Feb 26 at 1102.75, we saw a 4.5 point gap up. This gap was not filled, as the market moved up for most of the day, never sinking far below the open with a low of 1106.75. The high for the day was 1115.50. This gives a range of 8.75. This tight range is below average, and shows that we are in a bit of consolidation. Look for a breakout coming soon. The market closed the day of trading at 1140.00

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S&P 500 Emini Day Trading Gap Tuesday March 2, 2010

S&P 500 Emini Futures Day Trading THE GAP [caption id="attachment_2072" align="alignleft" width="493" caption="S&P 500 Emini Day Trading Gap Tuesday March 2, 2010"][/caption] S&P Emini 500 Futures had a big 6 point gap down Thursday morning. Action rallied to come back to within a point of yesterday's close but never quite got there. There was high volume action today that yielded little change. Total volume was a well above average 2.7 million contracts. Trading range was 18.25 points, deeper than the average. true range of 15.0 points. The 1102.00 close makes the daily candlestick finish as a doji formation. That reflects a market in decision. Trading has hovered around 1100 for the last few sessions.

S&P 500 day trading course