Trading S&P 500 Index

Trading S&P 500 Index with ES 03-13 E-mini Futures Contract.

[caption id="attachment_6195" align="alignleft" width="150"] S&P 500 chart[/caption]

Look like S&P 500 are going for nice correction.

1530.25 was the Highest price buyers was able to go so far. After all those little move up of 5 points a days, low volume and low volatility in US Index Market; is nice to see this kind of drop. Over 30 points on ES E-mini. It is the correction everyone was waiting for? Is look like. At least is a great start. Right now, we are in a small consolidation. And probably will go "UP" for few points. To be more precise, 1510.25 are the price I'm looking to go back at first. Is also a resistance for Buyers. But we may pass this price and go till 1514.75 , If ever buyers pass this price too, they should not support 1514.75. Also, Notice, we break the small Bullish Channel.

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Day Trading System

Day Trading System for all market. Day trading is easy once you master your system.

On following Images/words you will see when I made my call, what I say, and what happen. This is results of MoneyMakerEdge System. [caption id="attachment_6184" align="alignleft" width="150"] Silver chart[/caption]   Silver Chart: Call only for Short for next 5 business Day. target Filled 3/3 About my 2nd targets I mention this :<<I have one tricky target, is one good support for buyers and depend how long it will take to go to this support, it will depend also on the price to sell my 2nd target. Looking for  a small consolidation there.>> Not far from true,right?     [caption id="attachment_6183" align="alignright" width="150"] sp500[/caption] [...]

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Day Trading Silver

Day Trading Silver, Using SI 03-13

[caption id="attachment_6170" align="alignright" width="150"] Silver Chart[/caption] Hi Traders. On my last Gold post, I make a "call" short and of course Silver will follow Gold. Is less clear on silver daily chart and weekly, but we still can see few signal why silver should go short. First notice, we are under 200MA and 50MA (they are at the same level). Last Fridays, we touch are lower blue trend line, buyers try to push Silver price back to the 200MA, but by the end of the day, Sellers bring back buyers price back down, and close at they level , Sellers price. For Monday watch if we close under blue trend line, if yes, we will go to my next targets. I have one tricky target, is one good support for buyers and depend how long it will take to go to this support, it will depend also on the price to sell my 2nd target. Looking for  a small consolidation there. If Sellers close successfully under my blue trend line, silver price should go back at 29.810 on daily, and on weekly (mid-term , about 26$. I will update my chart, once we get to my 3rd target.)

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Gold Direction

Gold Direction are clear, We are going Short.

[caption id="attachment_6161" align="alignright" width="150"] Gold Chart Weekly[/caption]

Gold Direction Weekly Chart

After consolidation for few days , what I was expecting, we finally got something clear. As you can see, we touch my "UP Bearish trend line" , and close with price failure for a second week. but this time, sellers won. And another thing I like, we let buyers test 50MA but gold price close under 50MA. Right now is important for sellers to close under 1630.00 with no resistance to keep bearish channel. We should go till 1580 price, and then sellers will take a break and let buyers get in for a little move up or consolidation. [caption id="attachment_6162" align="alignleft" width="150"] Gold Chart Daily[/caption]

Gold Direction Daily Chart

On daily GC chart, we can see following thing: volume spike are above 85k a   [...]

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Sell OFF

[caption id="attachment_6153" align="alignright" width="150"] S&P 500 futures[/caption]

SELL OFF on ES E-mini

This chart are maid on 120 minutes, to show you something in volume. We got one of the biggest spike of volume controlled by sellers. We din't have this quantity of volume since end of November  And We din't even make a clear Break Out  on daily chart. And the most interesting thing, in few hours after, we finally pass 1511.00 resistance with so low volume.

Right now we are in consolidation, Probably buyers asking them self, what they just did...

Look like US Index are exiting to watch but not to trade on day or weekly trading. I recommend to wait till we have a nice correction before get in the market, and then move over 1600 points. Look like this will take for ever, or at least for next 2 or 3 weeks till we start to talk about Fiscal Cliff again...and who know, they may move this problem for next 2 months  again... I will watching S&P500 Index and trade (scalping) ES. but, for day/weekly trading, Europe are much more exiting now.

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Day Trading US Dollars

[caption id="attachment_6082" align="alignleft" width="150"]
US Dollars[/caption]  Day Trading US Dollars Chart on Weekly Level:Hi Traders, this is just an update for 1st target, and also, result of my work on US Dollars FDAX futures. Like I mention, I was waiting buyers get exhaust before shorting US dollars. We din't have to wait for to long.Sellers are in total control of US$ this week, will see if they can close at this level also. Even if my 1st target was at 7468.00 , and I'm sure we will get this price.Watch who's in control in volumes. If buyers start to be stronger than Sellers. Just Sell.                                                                      (Past Post on US$ :http://www.moneymakeredge.com/blog/economy/day-trading-3/ if your interesting to read more about US Dollar)  Tomorrow would be very interesting day, maybe not so far on Us Dollars Index, but, for sure on S&P 500 Index. (See post about S&P 500 for more information).For US$ / FDAX, if we close ,lower on  my trend line of Bullish channel, looking to go short till my 50MA. Tomorrow I'm watc [...]

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Day trading Gold

Day Trading Gold by Using  GC E-mini Contracts

[caption id="attachment_6028" align="alignleft" width="150"] Gold Day Trading Chart[/caption]

Day Trading Gold Weekly Chart Movement:

After Buyers's failure to go back to double top with so many commitment ,Sellers get in. and go back directly to MA 50. take a break, and push one more time under 50MA. Since 4-5 weeks Gold are more likely to be in consolidation, but Sellers still control the game, and 50MA are more likely to support Sellers than Buyers. And As you can see, we are in Bearish channel.   Double Top: Important thing to look at, Buyers never was able to go back to "the" double top price. And they try twice. 1st Short Target Line: This price are also resistance or support, depending who's in control at this level. So far, Sellers are trying to control this price but buyers resist to sellers. Double Bottom: My 3rd target are not at this double bottom, for only one reason. Sellers fail every time to close under 1582.00. this is another important price to win for sellers, if they are looking to go lower. [caption id="attachment_6030" align="alignright" width="150"][...]

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