Forex Day Trading Room

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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Forex Day Trading Room

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.

S&P 500 day trading course

Forex Day Trading Room

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

Forex trading - live day trading course and currency trade room.