Active day and swing traders

Splitlink said:
The reason that I bought LLOY this morning was because I could see this triangle and, as I could put a logical stop fairly close, I thought it worth a try for a break on the upside.

Any forecasts? While I'm still in the triangle !!! ;)

Split
Click to expand...
Hi Split, dont know what it is like in BCN but in La Coruna it is raining!

Anyway, I read LLOY slightly differently.
I see that a few days ago we have a down bar hitting the upper Boll, often (and correct in this case) an indication of reversal. This was combined with a trend line resistance 2 bars (days) prior.
Yesterday we had the fast MA crossing the slow MA (MACD graph) another sign of weakness and down trend.

As I said I see nothing to support the stock until we reach 450 ish and then would like to see a reversal on the MACD before going long.

But what do I know? see my previous post!

Feliz fin de semana

Dave
 

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Euro_d said:
Hi Split, dont know what it is like in BCN but in La Coruna it is raining!

Anyway, I read LLOY slightly differently.
I see that a few days ago we have a down bar hitting the upper Boll, often (and correct in this case) an indication of reversal. This was combined with a trend line resistance 2 bars (days) prior.
Yesterday we had the fast MA crossing the slow MA (MACD graph) another sign of weakness and down trend.

As I said I see nothing to support the stock until we reach 450 ish and then would like to see a reversal on the MACD before going long.

But what do I know? see my previous post!

Feliz fin de semana

Dave
Click to expand...

It hasn't exactly forged ahead this afternoon, has it? I was hoping to get away from my close stop but, at the same time, I took what I thought was a low risk trade so will not lose any sleep this weekend.

No rain here and, according to my wife, no petrol. At least, not the grade I use. The problem is that I have a low tank and a trip to make tomorrow, so will have to go hunting around the filling stations in the morning. :(

Apart from that- will try to have a nice weekend, thanks. Same to everyone.

Split
 
Morning all,
Looks like that I was right that post Rita would give a snap up. FTSE future and cash on UKX is well up as a write, a few minutes before the open.

OK, I have no open trades.
On the radar:
AGK a couple of days rises and now above 5 & 20 ema. vols not that strong, will try but half stake
IOT Not 100% convinced for a trade today. It seems that we have bounced of the long term resistance at around 420 above 5 ema but below 20. MACD does not look good. Lets see how today unfolds
AV. Resistance seems to have held at 604 ish. Again will wait for confirmation.

Finally, there has been much speculation in the press that is calling RBS oversold
The only thing that I can see positive is that Thursday we had an up bar touching the lower Boll band. Nothing excites me about this stock.
Am I missing something?

Good trading week to all
Dave
 
Euro_d said:
Morning all,
Looks like that I was right that post Rita would give a snap up. FTSE future and cash on UKX is well up as a write, a few minutes before the open.

...

Good trading week to all
Dave
Click to expand...
Morning Dave et al,

Yup, thanks for that - glad I stuck with my IPR, SPW & CBRY longs. Going great guns this am.

GSK seems to have well & truly broken out of it's range (hope I'm not being hasty here), so I'm in long @ 1424 with a stop just back inside the range, in case it's a false breakout.

Getting ready for BOC...

Good trading all,

Mark
 
Last edited:
.. & out of BOC again @ 1139 after pullback into gap in 5 min prices. Will consider re-entry if 5 min chart looks favourable.
 
Long on GKN. Looks good for a pullback after the recent falls to bring it back to the trend channel. gone in small as the MACD and RSI still look weak.

IOT, similar story but there have been talks regarding expansion. OK, not technical but we all need to listen to fundamental data as well, no? Stock has a steady growth level and August's highs of 460 seem to be a reasonable target.

Of course, I gave both stocks the kiss of death and they have dropped immediately after I entered them! OK, not to a stop!
 
Taken small profit on SPW @ 567.5. Opened on Friday @ 565.5. Utilties seem to be out of favour today! May re-enter if/when short term downtrend shows signs of reversing.
 
'morning all,

Nipped in quick to go long RIO @ 2277. Not planning to re-enter SPW - seems to be pulling back into daily range. May re-enter if/when there are signs of major uptrend resuming.

Good trading,

Mark
 
Morning all,
Long in RR, slightly +, GKN IOT both slightly -

Entered today:
MGCR peaked up above the 5 ema and now back into the trend channel also bounced off support @ around 200, slightly defensive on this but anyway have taken the plunge!

BWNG Nothing really outstanding on the charts but I feel the recent sell off looks overdone. Also slightly nervous but in!

In general I see a sideways market today on the back of yesterday, probably some profit taking but we should get the push back to 5000. currently I see resistance at 5455 ish. As my positions are not FTSE 100 heavyweights I hope they will perform???

Good trading to all
Dave
 
Lloy

Hi Split,
Last week I gave my comments on LLOY and stated that I saw 450 as resistance. It now seems that I was not totally correct in my prediction.
460 has been tested for 2 days and closed yesterday at 470 and although it has dropped slightly this morning we are now above the 5ema and close to being above the 20. MACD is looking slightly more healthy too. It we can break last weeks 472 to the upside then I can see we have the makings of a reversal.
In which case I will go long.

Cheers
Dave
 
Hi Guys!

Not trading at the mo after a poor performance the last few weeks, just watching closely my longish term positions which are longs in DGE, OOM and HG. DGE still looks long to me, it seems to be having some issue with the 820 level, I'd say it's making support there, but only time will tell. OOM it's a big question mark, It seems to be channeling between 150-156. However, today it looks like it might like higher prices. (I'm not counting yesterday's move as an important one, the only nice information I got from yesterday is that 150 seems to be stronger than what I initially thought) and I might be closing HG. soon depending on its performance around 298-300 during the next few days.
I'm revising both my strategy and system, and this week I'll be concentrating on studying and tidying up my plan.
Good trading to you all!

Silvia.
 
Hi Silvia,
the perfect trading system does not exist! We are always refining strategies.
As we have commented before, the learning curve is infinite and if you want to trade there is only one way, trade.
You need to set aside a bank and play very small with good money management. try the ideas and cut the losers.
If you stand on the sidelines refining ideas and eventually decide which one seems to work sods law says that as soon as you start trading for real it will fail.

Do not become disconcerted, read the posts here, we all go through periods of good and bad times, just need to make sure that the good times more than pay for the bad.

Good luck,
Dave
 
Busy morning! Long again AAL @ 1646 and also long SPW @ 568.5 (seems to have met resistance & be bouncing off - also lots of buying strength on Level 2 screen)

Current position: Long AAL, BOC, CBRY, GSK, IPR, RIO, SPW

Hope the market doesn't take a nose dive! I'm looking at possible shorts in MRW & KGF but setup isn't right for those today.

Mark
 
Tightened stop on RIO, in case of further downside breakout from current short term range - but hoping for upside breakout!
 
A tricky mornng,
UKX has been in the 55/67 range for quite a while. Above we have res @ around 70 below supp @ 40 ish.
Like I mentioned, none of my positions are big caps so fingers crossed.

Split, I see LLOY is stable this am, I am waiting for direction probably tomorrow.

Cheers
Dave
 
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