wallstreet1928
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FTSE 100 - Weekly H&S Market Top...time shall if I am right ....
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Mornington Crescent
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all I can tell you is that FTSE doesnt like H&S
but you will need to follow volume on the right shoulder if there is any chance
of the classic pattern
the odds may be stacked against you
but you will need to follow volume on the right shoulder if there is any chance
of the classic pattern
the odds may be stacked against you
wallstreet1928
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just looking at it from simple bias change principle ...........I have a lot more variables to support this potential H&S , i will adding my intermarket analysis very soon
HH and HL = bullish !!
we don't have a HL , we have a LL ....................and now I await a LH for the right shoulder !!
a failed bull flag formation with the recent green candle is perfect set up to suck in the retail clients who always lose money buying the froth!!
all we need now is continuation of the geo political crisis in the Arab world which will eventually lead to world war 3.........oil price spike to $120 ++ . Add in US QE 3,4,5,6,7,8,9,10 failing to lift markets and we have the US defaulting on its debt = global financial meltdown !!
I will support all this in due time ............at present I am busy making + 200 pips a week !!
I will put my analysis shortly of all the variable that inter-connect and put the jigsaw puzzle together my friend
HH and HL = bullish !!
we don't have a HL , we have a LL ....................and now I await a LH for the right shoulder !!
a failed bull flag formation with the recent green candle is perfect set up to suck in the retail clients who always lose money buying the froth!!
all we need now is continuation of the geo political crisis in the Arab world which will eventually lead to world war 3.........oil price spike to $120 ++ . Add in US QE 3,4,5,6,7,8,9,10 failing to lift markets and we have the US defaulting on its debt = global financial meltdown !!
I will support all this in due time ............at present I am busy making + 200 pips a week !!
I will put my analysis shortly of all the variable that inter-connect and put the jigsaw puzzle together my friend
wallstreet1928
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If I am wrong then it is good for my EGO and I will eat tasty humble pie.........hehe!!
wallstreet1928
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DailyFXTeamMember
Cracks seen in Merkel's CDU as many split over party's inability to solve bailout problems, German nuclear policy
The Geo political crisis has only just begun .....................there are many more skeltons in the closet !
The yanks are already bankrupt, they are just buying time. Invading countries is one way to pay for QE 1, 2,3 and bail outs .....but history shows it always backfires !!
Cracks seen in Merkel's CDU as many split over party's inability to solve bailout problems, German nuclear policy
The Geo political crisis has only just begun .....................there are many more skeltons in the closet !
The yanks are already bankrupt, they are just buying time. Invading countries is one way to pay for QE 1, 2,3 and bail outs .....but history shows it always backfires !!
Mornington Crescent
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good luck
but I have to say I have seen better looking prospective H&S
why not go for broke and put the neckline somewhere around 5600
that would give a projection around 5100
(which fits the chart quite well)
but I have to say I have seen better looking prospective H&S
why not go for broke and put the neckline somewhere around 5600
that would give a projection around 5100
(which fits the chart quite well)
shadowninja
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What I've sometimes seen happen is the market goes "**** this" and just drops without bothering with the right shoulder so you may be right before your time. 
wallstreet1928
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argument number one
Oil price spike .............market unable to sustain a supply side shock with oil > $110-120
Oil has broken out of the bearish channel and previous resistance ...........now consolidating @ previous res = supp ......
pending bullish cross over of 20 MA > 200 MA
currently > 200 MA on weekly chart = all out bullish !!
expect a major geo political event to cause a super spike = inflation = higher interest rates = equities sell off
Oil price spike .............market unable to sustain a supply side shock with oil > $110-120
Oil has broken out of the bearish channel and previous resistance ...........now consolidating @ previous res = supp ......
pending bullish cross over of 20 MA > 200 MA
currently > 200 MA on weekly chart = all out bullish !!
expect a major geo political event to cause a super spike = inflation = higher interest rates = equities sell off
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wallstreet1928
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beautiful break out on oil as stated in my analysis ..........nice + 120 pips made today!!
the rally has only started !!
wallstreet1928
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I will update further arguments later ........good day today + 245 points made !!
wallstreet1928
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for educational purposes - especially new traders who want to learn the fundamental reason for the move, technical has already been given in the chart
The reason oil flew higher today was due to geo-politics = gaddafi regaining ground from the rebels. Also problems in the ivory coast and syrian president gave a speech that was not acceptable to the citizens as reform not being introduced !!
there were a few more but that is enough for now
wallstreet1928
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oil superspike ....now $107.5
Reuters Reuters Top News
Ivory Coast's state TV goes off air: Abidjan residents http://reut.rs/gWjVNm
Reuters Reuters Top News
Ivory Coast's state TV goes off air: Abidjan residents http://reut.rs/gWjVNm
wallstreet1928
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SO far so good folks ...........the only catalyst for this FTSE 100 to go higher = QE 3 !! Until then this is a failure and will go down lower
my forecast for the week ahead , I expect the FTSE 100 to hit the 200 MA on the daily @ 5780 this week
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wallstreet1928
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5780..............
let the games begin.
give the fools of the roman empire bread and circus whilst this market crashes
wallstreet1928
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Down as forecast ........
If anyone wants to learn how to trade FTSE 100 correctly and achieve there targets consistently based on inter-market analysis please feel free to PM me.
in the mean time enjoy your pips
+ 100 pips so far
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wallstreet1928
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Too many blue peter traders out there, they are all charlatans who claim to make pips and give you the holy grail @ extortionate costs, only to dupe you and take your money and can't even trade themselves to save there life.
I show you in real time based on my own day to day trading .......I make around + 150-200 pips a week consistently with my subscribers .
I hereby class myself as the charlatan destroyer .........I will destroy all the false ones that take advantage of Newbies and cast them away from trade2win!!
have a nice day
I show you in real time based on my own day to day trading .......I make around + 150-200 pips a week consistently with my subscribers .
I hereby class myself as the charlatan destroyer .........I will destroy all the false ones that take advantage of Newbies and cast them away from trade2win!!
have a nice day
wallstreet1928
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wallstreet1928
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so far so good
wallstreet1928
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SO far my forecast is accurate ......post US debt deal and QE 2 !!
The bull flag looks like it will be negated and down we go folks...only thing that can derail this is QE 3 !!
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wallstreet1928
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I sent this chart to my subscribers a few weeks back and I have mentioned the H&S almost every day in my analysis that I send to them. I called for $100 resistance and failure for right shoulder to be completed and triggered
The H&S in oil is in concert with the commodity index = FTSE 100
it supports the argument of FTSE 100 H&S playing out
there are several more variables that I can refer to such as aus/usd @ resistance , eur/usd @ resistance , copper @ resistance on weekly charts etc etc !!
I send this analysis to my subscribers on a daily basis
covered my shorts overnight on DAX/FTSE 100 for + 62 and I am done for the day
The H&S in oil is in concert with the commodity index = FTSE 100
it supports the argument of FTSE 100 H&S playing out
there are several more variables that I can refer to such as aus/usd @ resistance , eur/usd @ resistance , copper @ resistance on weekly charts etc etc !!
I send this analysis to my subscribers on a daily basis
covered my shorts overnight on DAX/FTSE 100 for + 62 and I am done for the day
