Day Trading - Moving Averages vs Support and Resistance

When day trading the SP and Nasdaq futures, do you rely on your moving averages more than your support & resistant areas?

During the first hour of trading, the support and resistance zones on the SP and Nasdaq futures are the most important things to watch. The moving averages have not yet had a chance to come into play.

After that, if a trend is developing I watch several key exponential and simple moving averages on the 2 minute, the 5 minute and the 13 minute SP and Nasdaq futures charts.

These specific moving averages give reliable support and resistance for the market as long as the slope of the moving averages are fairly steep, indicating a trend. When there is no trend, the moving averages are flat and pretty much worthless.

When a trending market makes a countertrend move, and hits a key moving average on two or more different time frames at the same time, the probability of a good trade setup increases dramatically. If you get three hits at the same time, it's even better. Sometimes you'll see one key moving average get hit on the five minute SP chart at the same time another moving average is hit on the 13 minute Nasdaq chart. This also gives a good trade setup.

Eventually, a trending market will reach the next major support or resistance zone. At that point the zones once again become more important than the moving averages.

In afternoon trading, the market has often broken through a support or resistance zone several times. In that case, the zone is no longer useful, and new areas of support and resistance can usually be found. When I find them, I send my subscribers an RBI Intraday Update with the new support or resistance areas, and a description of what I think the market will do if it moves above or below them.

Mike Reed is author of TradeStalker's RBI Trader's Updates. He has been trading the Market for 23 years. His support and resistance numbers have been published on the internet since 1996. Mike's nightly support and resistance zones are specific and incredibly accurate. He offers an unlimited free trial of his nightly TradeStalker RBI Trader's Updates. http://www.TradeStalker.com

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Iceland#39;s Krona Currency Trading Halts as Kaupthing Taken Over - Bloomberg

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://news.google.com/news/url?sa=Tct=us/0i-0fd=Rurl=http://www.ctv.ca/servlet/ArticleNews/story/CTVNews/20081007/Iceland_bankruptcy_081007/20081007%3Fhub%3DTopStoriescid=1255748512ei=GZHxSIzfLIHI9ATgxI27Bwusg=AFQjCNEwYm4NMj9mns2tC5eo2k9mL9pmmgimg src=http://news.google.com/news?imgefp=uiq7SeKlWNkJimgurl=images.ctv.ca/archives/CTVNews/img2/20081007/160_ap_iceland_081007.jpg width=80 height=60 alt= border=1brfont size=-2CTV.ca/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/0-0fd=Rurl=http://www.bloomberg.com/apps/news%3Fpid%3D20601085%26sid%3Daiz5QIq94nrw%26refer%3Deuropecid=1255748512ei=GZHxSIzfLIHI9ATgxI27Bwusg=AFQjCNEWX9Fs_vnuvHU47KqM4owMYN684QIceland#39;s Krona bCurrency Trading/b Halts as Kaupthing Taken Over/abrfont size=-1font color=#6f6f6fBloombergnbsp;-/font nobrOct 9, 2008/nobr/fontbrfont size=-1By Bo Nielsen Oct. 9 (Bloomberg) -- Trading in the Icelandic krona came to a halt after the government seized control of Kaupthing Bank hf, the nation#39;s b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/0-1fd=Rurl=http://blogs.wsj.com/marketbeat/2008/10/08/shortest-currency-peg-ever/cid=1255748512ei=GZHxSIzfLIHI9ATgxI27Bwusg=AFQjCNFFB6sB4TATb8kAFMeqjAy2vbwYOQShortest. Currency Peg. Ever./a font size=-1 color=#6f6f6fnobrWall Street Journal Blogs/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1255748512hl=ennobrall 1,731 news articles/nobr/a/font/div/font/td/tr/table

Stampede for Yen Saps Asian Currency Trading - Wall Street Journal

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/1-0fd=Rurl=http://online.wsj.com/article/SB122358053217020031.html%3Fmod%3Dgooglenews_wsjcid=1256461620ei=GZHxSIzfLIHI9ATgxI27Bwusg=AFQjCNE5MkUCOtIRm2wtojw1bWVGPUuxVQStampede for Yen Saps Asian bCurrency Trading/b/abrfont size=-1font color=#6f6f6fWall Street Journalnbsp;-/font nobrOct 9, 2008/nobr/fontbrfont size=-1Meanwhile, hedging against foreign-exchange risk has become more difficult as options related to bcurrency trading/b have become more expensive, Mr. Liu said. b.../b/font/div/font/td/tr/table

MCX Stock Exchange begins currency trading - Sify

RBI, Sebi to relax currency trading norms - Hindu

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://news.google.com/news/url?sa=Tct=us/3i-0fd=Rurl=http://sify.com/finance/fullstory.php%3Fid%3D14758206cid=1252832063ei=GZHxSIzfLIHI9ATgxI27Bwusg=AFQjCNHc70MVG6j5Bt9g0Ff7OIawjP3HAwimg src=http://news.google.com/news?imgefp=SBGic4oxq_wJimgurl=im.sify.com/sifycmsimg/jul2008/Finance/14727680_sebi_220.jpg width=80 height=57 alt= border=1brfont size=-2Sify/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/3-0fd=Rurl=http://www.hindu.com/thehindu/holnus/006200810011731.htmcid=1252832063ei=GZHxSIzfLIHI9ATgxI27Bwusg=AFQjCNHjqI8zpKtz1YAYpdjQv57J_u64cgRBI, Sebi to relax bcurrency trading/b norms/abrfont size=-1font color=#6f6f6fHindu,nbsp;Indianbsp;-/font nobrOct 1, 2008/nobr/fontbrfont size=-1Mumbai (PTI): The Reserve Bank of India and Securities and Exchange Board of India (Sebi) are in discussions to relax the bcurrency trading/b norms, b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/3-1fd=Rurl=http://www.bloomberg.com/apps/news%3Fpid%3D20601091%26sid%3DaJQqfYFBEE9Q%26refer%3Dindiacid=1252832063ei=GZHxSIzfLIHI9ATgxI27Bwusg=AFQjCNE1LvJUwKMgQuBlkw2HwjnSLAKsMgIndia Working on Relaxing bCurrency Trading/b Rules, Bhave Says/a font size=-1 color=#6f6f6fnobrBloomberg/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/3-2fd=Rurl=http://www.indiainfoline.com/news/innernews.asp%3FstoryId%3D80612%26lmn%3D1cid=1252832063ei=GZHxSIzfLIHI9ATgxI27Bwusg=AFQjCNGDT4zn2jANZmCSgNrWUccbZbPKDQRBI, SEBI mull easing bcurrency-trading/b norms/a font size=-1 color=#6f6f6fnobrIndia Infoline.com/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/3-3fd=Rurl=http://www.topnews.in/bse-launches-currency-futures-trading-272932cid=1252832063ei=GZHxSIzfLIHI9ATgxI27Bwusg=AFQjCNHvf4mEiaTkeyOprAJb8PY5SOTEVQBSE Launches Currency Futures Trading/a font size=-1 color=#6f6f6fnobrTopNews/nobr/font/fontbrfont size=-1 class=pa href=http://news.google.com/news/url?sa=Tct=us/3-4fd=Rurl=http://www.thaindian.com/newsportal/business/norms-for-currency-futures-likely-to-be-relaxed_100102431.htmlcid=1252832063ei=GZHxSIzfLIHI9ATgxI27Bwusg=AFQjCNETktkwobAMs90CiEka42-XsxNgngnobrThaindian.com/nobr/anbsp;- a href=http://news.google.com/news/url?sa=Tct=us/3-5fd=Rurl=http://www.thaindian.com/newsportal/india-news/bombay-stock-exchange-launches-currency-derivatives_100102299.htmlcid=1252832063ei=GZHxSIzfLIHI9ATgxI27Bwusg=AFQjCNHjp_VWVbQ_2Vs8onYo9E0T9g_C8gnobrThaindian.com/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1252832063hl=ennobrall 151 news articles/nobr/a/font/div/font/td/tr/table

China Banks Cut Currency Trading With Foreign Lenders (Update1) - Bloomberg

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/4-0fd=Rurl=http://www.bloomberg.com/apps/news%3Fpid%3D20601080%26sid%3DalJJx6wybqMc%26refer%3Dasiacid=1250859859ei=GZHxSIzfLIHI9ATgxI27Bwusg=AFQjCNHuQZkG1htBHNDjMFYQv88sy-kXdQChina Banks Cut bCurrency Trading/b With Foreign Lenders (Update1)/abrfont size=-1font color=#6f6f6fBloombergnbsp;-/font nobrSep 26, 2008/nobr/fontbrfont size=-1By Judy Chen and Belinda Cao Sept. 26 (Bloomberg) -- China#39;s banks are limiting foreign- exchange transactions with US and European financial companies on b.../b/font/div/font/td/tr/table

MICEX plans to open trading as normal on Mon. - RIA Novosti

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/5-0fd=Rurl=http://en.rian.ru/business/20081010/117667286.htmlcid=1255026447ei=GZHxSIzfLIHI9ATgxI27Bwusg=AFQjCNG8gP2DL1tVmVkFygaxigN_9OlYkwMICEX plans to open trading as normal on Mon./abrfont size=-1font color=#6f6f6fRIA Novosti,nbsp;Russianbsp;-/font nobrOct 10, 2008/nobr/fontbrfont size=-1MOSCOW, October 10 (RIA Novosti) - The Moscow Interbank Currency Exchange plans to begin trading as normal on Monday morning unless the Federal Service for b.../b/font/div/font/td/tr/table

Japanese Yen Likely to Gain as Currency Trading Crowds Buy USDJPY - Daily FX

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/6-0fd=Rurl=http://www.dailyfx.com/story/currency/jpy_ssi/USDJPY_Japanese_Yen_Likely_to_Gain_1222955721225.htmlcid=0ei=GZHxSIzfLIHI9ATgxI27Bwusg=AFQjCNEsjZDDkcgIggSdbBcnMkYy8qQMugJapanese Yen Likely to Gain as bCurrency Trading/b Crowds Buy USDJPY/abrfont size=-1font color=#6f6f6fDaily FX,nbsp;NYnbsp;-/font nobrOct 2, 2008/nobr/fontbrfont size=-1USDJPY – Our forex positioning indicator continues to forecast US dollar losses against the Japanese Yen, as we see that bcurrency trading/b crowds continue to b.../b/font/div/font/td/tr/table

Slow take-off for Zimbabwe’s foreign currency trading scheme - The Zimbabwean

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/7-0fd=Rurl=http://www.thezimbabwean.co.uk/index.php%3Foption%3Dcom_content%26view%3Darticle%26id%3D15567:slow-take-off-for-zimbabwes-foreign-currency-trading-scheme-%26catid%3D31:top%2520zimbabwe%2520stories%26Itemid%3D66cid=0ei=GZHxSIzfLIHI9ATgxI27Bwusg=AFQjCNFggmk_UdcPf6tvD2SM_l4w_VretwSlow take-off for Zimbabwe’s foreign bcurrency trading/b scheme/abrfont size=-1font color=#6f6f6fThe Zimbabwean,nbsp;Africanbsp;-/font nobrOct 2, 2008/nobr/fontbrfont size=-1After a slow take-off for the new foreign bcurrency-trading/b scheme, a handful of shops started selling in US dollars or South African rands. b.../b/font/div/font/td/tr/table

Forex Market Volatility Remains Elevated, Breakout Currency ... - Daily FX

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/8-0fd=Rurl=http://www.dailyfx.com/story/special_report/special_reports/Forex_Market_Volatility_Remains_Elevated__1222701007342.htmlcid=0ei=GZHxSIzfLIHI9ATgxI27Bwusg=AFQjCNFP7MIwvHNCtqz_SeBONnUNtRgFXwForex Market Volatility Remains Elevated, Breakout bCurrency/b b.../b/abrfont size=-1font color=#6f6f6fDaily FX,nbsp;NYnbsp;-/font nobrSep 29, 2008/nobr/fontbrfont size=-1Forex market conditions continue primed for breakouts, as pronounced market indecision surrounding the US Treasury’s bailout for credit markets leads to b.../b/font/div/font/td/tr/table

Market turnaround - CNN

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://news.google.com/news/url?sa=Tct=us/9i-0fd=Rurl=http://www.wkrg.com/financial/article/stocks_5_year_lows/19848/cid=1256747867ei=GZHxSIzfLIHI9ATgxI27Bwusg=AFQjCNEBve41g3h0VxHB7yMag8I79FAg4wimg src=http://news.google.com/news?imgefp=D1FLNrcw3eUJimgurl=media.wkrg.com/media/news3/cache/t1home.nyse1_.ap_-265x239.jpg width=80 height=72 alt= border=1brfont size=-2WKRG-TV/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/9-0fd=Rurl=http://money.cnn.com/2008/10/10/markets/markets_newyork/%3Fpostversion%3D2008101015cid=1256747867ei=GZHxSIzfLIHI9ATgxI27Bwusg=AFQjCNHG93Hq0HmoqPM4RymByeepNMPrxgMarket turnaround/abrfont size=-1font color=#6f6f6fCNNnbsp;-/font nobrOct 10, 2008/nobr/fontbrfont size=-1COMEX gold for December delivery rose $14.50 to $901 an ounce. In bcurrency trading/b, the dollar gained against the euro and the yen./fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/9-1fd=Rurl=http://money.cnn.com/2008/10/09/markets/markets_newyork/%3Fpostversion%3D2008100918cid=1256747867ei=GZHxSIzfLIHI9ATgxI27Bwusg=AFQjCNHJYf66rPHOf6ZKaTpJDcsmXT96JQDow tumbles 7%/a font size=-1 color=#6f6f6fnobrCNNMoney.com/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/9-2fd=Rurl=http://www.wkrg.com/financial/article/stocks_5_year_lows/19848/cid=1256747867ei=GZHxSIzfLIHI9ATgxI27Bwusg=AFQjCNEBve41g3h0VxHB7yMag8I79FAg4wStocks: 5-year lows/a font size=-1 color=#6f6f6fnobrWKRG-TV/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/9-3fd=Rurl=http://www.wibw.com/nationalnews/headlines/30591699.htmlcid=1256747867ei=GZHxSIzfLIHI9ATgxI27Bwusg=AFQjCNEPeRvJnaZYJ1MG9LSh6LuSVtcjtAA 5-year low/a font size=-1 color=#6f6f6fnobrWIBW/nobr/font/fontbrfont size=-1 class=pa href=http://news.google.com/news/url?sa=Tct=us/9-4fd=Rurl=http://money.cnn.com/2008/10/09/markets/markets_newyork/%3Fpostversion%3D2008100910cid=1256747867ei=GZHxSIzfLIHI9ATgxI27Bwusg=AFQjCNEJR8JbNLephr0LKPMvTGb4KiTvcwnobrCNN/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1256747867hl=ennobrall 25 news articles/nobr/a/font/div/font/td/tr/table

Currency-Trading - Google News

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