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Remember how 740 resistance is broken. It is natural that the market is hesitating when trying to break a significant R/S level. Given the fact the market holds so well, I think the odds of succesful breaking is quite high.

Actually I think it is a sign of strength, not weakness. Reason: no sellers.

It appears that 800 resistance is going to be broken today. No sellers shown up at this stage.

The above quote was written on last Sunday. So far this speculation seems to be the case. Next week 740 is likely to be re-tested. If 740 holds well, then this rally will have another leg. Again, pure speculation.

LC, what's the exact settlement time for March option ?

Correction: Weird, not wild

From yesterday afternoon till this morning, very wild price action. Pattern doesn't work well. The failure of pattern also doesn't work well. Only one thing seems to be true: 775-778 is a price magnet. The market just wants to sit there and go nowhere. This is probably the area where the big...

IHS is forming. However, price movement has no momentum. It probably indicates IHS is going to fail and the market will tank soon

Trailing stopped at 782.75.

Short 783. 5 ticks stop.

It may be the case. The morning short is easy. The afternoon drop so far is difficulty to catch. Shorting slow grinding market is always difficulty, IMO.

spanish89, I happened to read your story. Quiet impressive. My question for you is: Usually traders get better and better as experience and skills grow. This is especially true for new traders. In your case, your recent performance is worse than when you started as a newbie. What's the...

Just curious. How can such a big DD for scalping FX in such a short period of time? This kind of DD is very unlikely in stock index future scalping as long as certain risk management is in place. I don't trade FX. Just looking at the charts, I feel it is more difficulty to scalp FX than...

Out 758.75 for a quick scalp

Short 762. 4 ticks stop

Shit I just exited my long trade before the breakout for a quick scalp. IIHS plus triangle breakout. I saw its formation beforehand and I didn't want to believe it but it happened. The market always surprises us.

FOMC plus option expiration week. G-20 London Summit is also on the horizon (04/02/09). Could be a volatile week.

It appears that due to contract rollover, the ES number on continuation chart is a little distorted. Previous resistance at 778-780 for March contract should be around 774 for June contract now. This rollover thing makes things a little mess, resulting in an increase of the margin of error...

Same here. Waiting for 778-780. Saw 771-772 a possible DT. Put a sell limit at 770.5. The order got no fill and the market dropped. Quite pissed off.

No selling pressure. Out 761.