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S&P 500 (Mar 12) INTRADAY Review Our short strategy for the E-mini S&P yesterday was spot on. The high of the day was set just before 16.00GMT at 1326.00 which was just 3 ticks over our entry level short. The market then drifted from the top of the range to the bottom of the range over the next two hours and bottomed out at our first profit target at 1317. Support was found and the market bounced and finished the session around the mid point of the range to complete a relatively stable

“The 1980s movie "Wall Street" coined the term "greed is good." But things are different in real life. When trading the markets, if you focus only on making money, it 's very likely you will lose it all. When greed takes over, traders make huge mistakes, such as betting everything in one single trade, or not using any stop losses.” – Joe Ross Hello: This is an update on some of the movements in the markets and what I’m doing about them, plus my losses and profits. The analyses are based on

S&P 500 (Mar 12) INTRADAY Review We had a short strategy for yesterday’s session as we felt the upside momentum seen in the European morning was not sustainable. Initially our entry short at 1319.25 did a good job at halting the upward trend and the market pulled back to one of our key levels at 1316.25. However, our first main profit target was not reached and our entry resistance only succeeded in creating a temporary pause in the upward move and three hours after hitting out entry the

Dlr has remained under pressure after meeting renewed selling at 76.35 in NY y'day, suggesting recovery fm 76.03 has possibly ended there n erratic decline fm 79.55 may resume n extend marginally be low said sup but 75.90/95 shud contain downside. Stand aside n look to buy on next fall for day trade. Abv 76.35 wud bring stronger gain to 76.42.

Between 04:00 & 08:00 GMT the EUR/USD had a 150 pip move and the headlines gave every reason under the sun about why this occurred. Some thought it was mere short covering and others gave every other reason under the sun. As for me, I have no idea. I know nothing. The market moves and I react. I see this as nothing more than a perfect opportunity to sell some Euros.  EUR/USD: Short Setup With price trading at resistance my risk to reward is fantastic at 1:3. With a 50

S&P 500 (Mar 12) INTRADAY Review Our long entry in yesterday’s strategy report was invalidated by the worse than expected US economic data. Chicago PMI and Consumer Confidence numbers both cam in worse than expected and this generated a reversal of the overnight rally. The high of the day at 1317.50 was tested just prior to the Chicago PMI release and from there the two pieces of bad data generated a 15 point sell off that bottomed out around our key level at 1303 before consolidation

Earlier this morning we took a look at the  EUR/AUD Bear Flag Setup  to enter short. As the trade has since developed dropping into profit it is a good time to adjust the stop loss adding it at 1 pip below the entry price now providing a free trade for us. Currently, there is still no take profit level. The original area of 300 pips is still the intended target. We will see what the market gives and play the trade according to current market momentum letting price be the

S&P 500 (Mar 12) INTRADAY Review We had a short entry for the E-mini S&P on yesterday at 1306.75 as we were very much expecting the negative sentiment downward trend to continue ahead of the EU summit. Unfortunately, the price action didn’t quite reach our entry as the market turned at 1304.25 at 13.30 before trending lower through both of our profit targets and bottoming out for the session at near two week low at 1296. The downward leg was helped by US personal income and spending

With currency pair ranges at so low the market is waiting to open up. Will it be news out of the EU specifically the imminent Greece default. Will the Bank of Japan will intervene and pop the YEN 300-400 pips. All the time there are opportunities waiting for us. Here is an opportunity I see right now in the markets. EUR/AUD: Trade Of The Week If you notice over the last couple of weeks the EUR's countertrend rally has been the weakest

S&P 500 (Mar 12) INTRADAY Review We had a short entry for the E-mini S&P on Friday at 1324.75. We were expecting some decent US GDP numbers to allow the S&P to rally back up to our entry point, however the GDP figure came in worse than expected at 2.8% and so in hindsight our more aggressive key level at 1316.50 was the best entry as the market sold off down through our second profit target as investor were concerned that the US economic momentum is not as strong as hoped. The low

YOUR MINDSET MATTERS "Are you trading to learn or are you trading to earn? …Having goals based around financial outcomes when you’re still learning the basic skills of trading can actually be counter-productive. If you have expectations of earning from trading while you’re still learning, then it shouldn’t come as a major shock when you fail to meet those expectations! …There’ll come a point when you’ll be required to commit fully to your trading business. A time to narrow down the options,

S&P 500 (Mar 12) INTRADAY Review We had a short entry for the E-mini S&P on yesterday’s US strategy as we were uncomfortable with the index being at these levels ahead of an important weekend for the Eurozone. Our entry level at 1324.75 was in the end too aggressive as the market pushed above Wednesday’s highs after some very positive earnings from Caterpillar. However, our stop level at R1 1329.25 did the job of reversing the market and so as our actual stop order is always placed

With Greece and creditors edging closer to a deal I would think twice about holding any EUR positions, long positions, over the weekend. I have a feeling that we could see one of those big gap opening on Monday if some type of deal takes place.  Plenty of time though to take advantage of the current momentum on the EUR/USD and look for a nice trade, if it takes off I will be happy to be holding short over the weekend with profit locked in. EUR/USD Forecast :

“It’s important for a trader to have a solid approach and clear setups, which he then trades consistently without giving much thought to each individual trade. Since we’ve developed and internalized these setups, we can trade consistently.” – Philipp Schroeder Hello: The currency market’s incredible growth has done little to change the ratio of winning to losing traders. The majority still lose most of the time, and they still don’t have to. Reading some books, buying a charting program,

S&P 500 (Mar 12) INTRADAY Review It was a day of two halves yesterday. The morning featured a downward trend off Tuesday night’s Apple high when even good German IFO numbers could not help the market skip back into mild negative sentiment risk-off mode. We had a short strategy as a result of the malaise with an entry level at 1311.50 but the market seemed content around the 1307 area ahead of the FOMC statement. The statement triggered a complete reversal in the market with a instant sharp

S&P 500 (Mar 12) INTRADAY Review Our short entry level for yesterday’s session was at 1309. This resistance worked well for most of the session between 16.00 when it was first reached and 20.00GMT. Although it was a good entry point short the market never really built any reversal momentum and so modest profits was the best case scenario for our strategy and at the closing bell the E-mini edged slightly higher to 1310 ahead of the Apple earnings report. Their earnings were exceptional with

S&P 500 (Mar 12) INTRADAY Review It was a mixed session yesterday with ultimately the E-mini S&P continuing in a tight range with the market closing at 1311.25 which was exactly the same closing price as the day before. Our long strategy worked well in the first part of the afternoon with the drift lower into the US cash open hitting our entry level of 1311.50. The market then narrowly avoided our stop level before bouncing and going onto to make new highs and hitting our first profit

S&P 500 (Mar 12) INTRADAY Review Friday’s session saw the tightest range on the E-mini S&P since the start of July 2011 with a high/low range of just 7 points. Activity was subdued all day as we had predicted with very little news flow as the market drifted into the end of the week at new 6 month highs. Our strategy was for a range bound session looking to get short at the top of the range at 1311.50. This level was finally reached right into the close and provided the resistance to

"For me the most important thing is intuition. The markets represent an ‘intelligent chaos’ globally. This is a fantastic idea. There’s not a deliberate intelligence in the markets, it’s more of structural intelligence. I think that the only way to have good performance in the markets and to earn money is with the help of intuition.” – Jochen Steffens Hello: Here are a few examples of recent trades that were opened based on the rules of the strategy discussed here. This is what follows the

S&P 500 (Mar 12) INTRADAY Review Our long strategy yesterday worked perfectly as the sell off after the slightly worse than expected Philadelphia Fed numbers took the market down to find support at our entry point of 1304.25, which was Wednesday’s high, and from there the market bounced and hit our first profit target at 1309.75 45 minutes later. From there the E-mini S&P established a sideways range into the close between 1311 on the upside and 1308 on the downside. Overall it was

20 Jan 2012 07:46GMT... INTRA-DAY USD/JPY OUTLOOK - 77.25 Dlr's current cross-inspired rebound suggests the pullback fm 77.32 has formed a temp. low earlier at 77.05, caution is advised on our short n 77.32/34 res needs to hold for prospect of another retreat later today. Trade fm short side with stop as indicated, break wud extend upmove to 77.50/56.

“Remember, the definition of effective trading is not solely connected to profit and loss, but to consistent execution. Profit that is not associated with a plan and follow-through of all of your rules is profit that is not helping you become a better trader.” – Dr. Woody Johnson Hello: Forex trading is nothing other than speculation on certain price developments. It’s not a prognosis. One has to be careful with market predictions, yet a negative trade shouldn’t cause consternation, provided

I am hearing a lot of talk about Greece coming close to a deal with its bondholders. This news has been dripped all week, insider propaganda style. The manner in which you know its scripted. I expect it could be announced tomorrow or over the weekend. How this will move the market? I do not know. I'd rather not have an expectation and be there to trade what is happening instead. GBP/USD Forecast: So far all week we have seen a corrective rally against the recent USD strength. The

S&P 500 (Mar 12) INTRADAY Review Up until the European cash close yesterday the E-mini S&P was in a well defined range between our short entry level at 1297.25, which was last week’s high, and 1286.75 which in the end produced a great double bottom. Various IMF comments moved the market in both directions as messy details came down the wires as to how much they are looking to boost their fund by. The final figure is that they are looking to boost the fund by $500bln which would

With the chatter lead by the S&P rating agency signaling the Greek default will be imminent market volatility is expected to pick up. Yes, the market has priced this news in and is prepared. No, the market has not actually priced this in and nobody is really prepared. We have no idea how the market will handle such a default. As our mantra goes, "I know nothing." GBP/USD Forecast: The strong USD continues on against the GBP. Despite the current down trend I am looking to get long from the

S&P 500 (Mar 12) INTRADAY Review It was a session of two halves yesterday as the S&P had a strong rally up until midday before reversing the entire move to make new lows. The initial bullishness was following a string of positive macro news with China’s Q4 GDP, Germany’s economic sentiment survey and New York State manufacturing data releases all beating expectations. On top of this their was more positive sentiment generated by another very strong Spanish bond auction. This drove the

S&P 500 (Mar 12) INTRADAY Review It was a US bank holiday yesterday and so market activity on CME Globex was extremely subdued. The Emini S&P continued to show resilience in the aftermath of the S&P ratings downgrades on Friday and the market retraced the full scale of Friday afternoon’s sell off. Uncertainty can be a much more damaging influence than the actual negative news itself. The fact that investors can move on from this downgrade risk that has been hanging over the market

“To me, this is a no contest. I want to be liberated from watching the screen for hours on end on those days where the market goes nowhere. I also want to avoid psychological stresses as the market swings up and down. On good days, price moves directly to your target with barely a flicker. On other days, it gets there through a series of price gyrations. If you watch every move, your emotions are on a roller coaster as your paper profits expand and contract. The temptation to exit a trade

S&P 500 (Mar 12) INTRADAY Review The surprisingly bad US economic data yesterday resulted in our long strategy being stopped out in the sell off after the 13.30 announcement. Retail Sales ex Autos declined for the first time in six months and Jobless claims came in at 399k which is the highest number for six weeks. This break a run of consistently positive macro data from the US and so the surprise lead to a push lower after we had seen a very positive start to the session. Draghi’s

Radar Signal Currency Pair: NZD/USD Direction: Short Trader Comments : Kiwi has formed a Bear Gartley pattern on a daily chart. This highly bearish technical pattern consist of the overlapping of a Fib Retracement and Fib Extension. An image analysis for NZD/USD has been posted to our Members Area at http://www.fxrenew.com/premium-content. We will patiently watch as the pair currently trades at the 61.8% Fib support for a bounce into our selling range of 0.7930-0.7980. If this range is met and

S&P 500 (Mar 12) INTRADAY Review Yesterday’s S&P strategy was spot on as the range bound choppiness during the early afternoon continually found support around our long entry point at 1280. The following the European close stocks managed to grind a little higher with the final push into the close taking the market up to find resistance right on our second profit target which was the October 2011 high at 1289.25. The price action was largely driven by Eurozone commentary with Fitch

S&P 500 (Mar 12) INTRADAY Review Yesterday’s session was significantly in that the E-mini S&P made a new six month high by breaching the October 2011 high at 1289.25 and topped out at 1292.00. However, ultimately this was the exhaustion point and the market retraced back under the key level and drifted lower into the close. There was no specific or sustainable reason for the risk-on push to the upside and so the fact there was no extension to the gains above this key technical level

S&P 500 (Mar 12) INTRADAY Review There are now 5 consecutive Djois on the daily chart for 2012. The difference between daily opening and closing prices has been 10 ticks, 5 ticks, 0 ticks, 3 ticks and 3 ticks so far as the markets remain in limbo until the next major development occurs. We had a short strategy for yesterday’s session looking to play the range. Our entry was at 1280 but the price action only lead to a high at 1278 and so the topm of the recent range was not reached as

Mon Jan 9 2012 8:39 pm EST (GMT -4) Radar Signal Currency Pair: EUR/USD Direction: Long Trader Comments : An inverted Head and Shoulders pattern has been spotted on an hourly chart for EUR/USD. The neckline is made up of a bearish trendline which is where the pair is currently trading. An image analysis of this pattern has been posted to our Members Area at http://www.fxrenew.com/premium-content. We will be watching for a break and retest of the neckline to issue a market order long for the

S&P 500 (Mar 12) INTRADAY Review The E-mini S&P opened last week at 1274.75 and closed the week at 1274.00 with four consecutive dojis on the daily chart. Having opened the year above the December highs at 1268 the E-mini S&P has struggled to push higher despite on-going better than expected US economic data. The Nervousness surrounding the Eurozone debt crisis lingers on and this for now is restraining the bulls at these levels. The payrolls number on Friday came out better than

“Self-disciplined begins with the mastery of your thoughts. If you don't control what you think, you can't control what you do. Simply, self-discipline enables you to think first and act afterward.” - Napoleon Hill Hello: Happy New Year! The Year 2011 had come and gone - gone forever. What a difficult year it was! It was the most difficult year in my entire trading career, but I came out of it triumphantly. My trading results for the last year would soon be published. It’s no wonder that good

“Studies have been done between random entry systems and specific systems that use entries based off of chart patterns with amazing results. The random entry system typically outperforms the structured entry system when it uses money management (position sizing techniques) and a strong exit strategy (assuming that the structured system doesn’t employ money management tools).” - Chris Perruna Hello: This is an update on some of the movements in the markets and what I’m doing about them, plus my

S&P 500 (Mar 12) INTRADAY Review We identified 1260.50 as our entry point long for yesterday’s US session with the strategy that Friday’s high would provide support. The downside seen at the US cash open and following the mildly disappointing ISM Non- Manufacturing number took the E-mini S&P down to our entry point and although it was a difficult trade to hold in the short term it turned out to be the perfect strategy as the market recovered and ground higher for the subsequent four