The markets have a whole extra hour to fill this week. With the US market opening at 1:30pm instead of 2:30pm, the run into the cash close at 4:30pm is a little more long winded. I wonder if we will get a similar sell off to yesterday in the last 30 mins.
dc2000
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cheers it is nice when the plan comes together
looking for the dow to hit the 550 area then exit FTSE and DOW shorts
DaddyJohn
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Sure is...I went short at 5680 and have just left it to run..
Must admit I was getting just a little bit nervous though ,, but it came together..bless the Greeks..
Wanted to ask you about target setting DC. Using the pattern.. My guess is you a) figure out if we are in sideways, down or up cycle... B) using current range and typical violations / penetrations. You then can estimate where the pattern will complete.. C) each day you revisit to see if target now needs to be shortened or lengthened.
Two fibs for you this afternoon:
Opening low at 1:30pm at 5326.0
Swing High at 2:35pm at 5401.0
What's the 61.8% retracement from the high? 5354.6
So where did it bounce off? 5354 at 15:50
Next one. Take your swing high at 2:35pm at 5401.0 and your 61.8% retracement low at 5354.0. What's the 127% fib extension of this? 5413.7
So where did it bounce off at 16:40? 5413.5
For drawing your fibs, ignore the price action before 1:30pm today, becasue the US market opened at 1:30pm and it's a whole new ballgame at that time.
Secondly, whenever you see the price extend past 100%, automatically think of 127% as a good turning point above it.
Opening low at 1:30pm at 5326.0
Swing High at 2:35pm at 5401.0
What's the 61.8% retracement from the high? 5354.6
So where did it bounce off? 5354 at 15:50
Next one. Take your swing high at 2:35pm at 5401.0 and your 61.8% retracement low at 5354.0. What's the 127% fib extension of this? 5413.7
So where did it bounce off at 16:40? 5413.5
For drawing your fibs, ignore the price action before 1:30pm today, becasue the US market opened at 1:30pm and it's a whole new ballgame at that time.
Secondly, whenever you see the price extend past 100%, automatically think of 127% as a good turning point above it.
Good work Martin. I use Fibs a lot.
I also use expansions quite a bit too. For profit targets.
The 161% showed resistance twice. That using all of the mornings Price action.
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That's interesting Mark. The cash price didn't match the futures price at 16:30.
It's all very well knowing where the Fib extensions are, but sometimes the train doesn't make it to the end of the tracks. A lot of times it pulls up short. You just have to trail a stop and spot the reversal.
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Yes nothing worse than waiting for a target to hit. Try giving expansions a play as well as extensions. I also have been using time and price to guide me, so when i measure the first swing i look at the time too, if the swing i am measuring takes longer then i average out. But generally i will aim for 1/2 at the 100% extension and the rest at 161%.
Dick Lexic
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George Papandreou who was he again? was he in the carry on films? 
dc2000
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your welcome
FTSE given daily target 5364 best leave that for later though for now 30 and 40 points here an there will do
dc2000
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George Papandreou who was he again? was he in the carry on films?
didnt he get arrested for cottaging or was that george snufalupagus
Dick Lexic
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DaddyJohn
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George Papandreou who was he again? was he in the carry on films?
yes.. starred alonside Mustaphaleek
