SuddenDeath
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take a look at UUP dollar index etf, looks like its near 9month support
take a look at UUP dollar index etf, looks like its near 9month support
I hadn't had lunch and I was wrong - at least at the 5 min level. There was a preceding wave that retraced 61%.
Still got the bear move as the 10 min showed the same weakness, although it had slightly better support. In fact 5895 might be where we get support. Away from the charts for the next few hours though.
Lee Shepherd
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All out of Ftse 100 Long Dec contracts since 24th August.
Build of positions started on this date and was pushed (averaged in/up).
Attached is a screenshot for clarity.
For those of a sceptical nature or those who find it difficult to trade or are particularly having a hard time I make this statement:
I am not a Vendor nor wish to become one.
I do not give out trading advice nor wish to debate my opinions (they are mine and mine alone)
I have nothing to prove like the rest of us on here.
This has been posted as a confidence boost to those that may need to re-believe that trading and being profitable really is possible, all others that are constantly withdrawing money and are net profitable already know this.
I have purposely posted this here as this thread in particular is a very clean one with decent honest people and one in which I enjoy following (and is the only thread I may add). I pay no minds to trolls and I have better things to do than photoshop or hang around all day swinging my d1ck.
Have a great weekend all, its here at last.
Regards,
Lee Shepherd
PS: I am looking for Dax shorts around 7k area or 7500 whichever come sooner however I reserve the right to change my mind at any time depending on market sentiment, technicals and fundamentals. Will post when this arrives and have entered, again with a screenshot attached.
A big shout out to Bustech & Sudden Death in particular who these 2 people I have noted seem to be doing very well, I'm a great follower of you both and your great posts.
Build of positions started on this date and was pushed (averaged in/up).
Attached is a screenshot for clarity.
For those of a sceptical nature or those who find it difficult to trade or are particularly having a hard time I make this statement:
I am not a Vendor nor wish to become one.
I do not give out trading advice nor wish to debate my opinions (they are mine and mine alone)
I have nothing to prove like the rest of us on here.
This has been posted as a confidence boost to those that may need to re-believe that trading and being profitable really is possible, all others that are constantly withdrawing money and are net profitable already know this.
I have purposely posted this here as this thread in particular is a very clean one with decent honest people and one in which I enjoy following (and is the only thread I may add). I pay no minds to trolls and I have better things to do than photoshop or hang around all day swinging my d1ck.
Have a great weekend all, its here at last.
Regards,
Lee Shepherd
PS: I am looking for Dax shorts around 7k area or 7500 whichever come sooner however I reserve the right to change my mind at any time depending on market sentiment, technicals and fundamentals. Will post when this arrives and have entered, again with a screenshot attached.
A big shout out to Bustech & Sudden Death in particular who these 2 people I have noted seem to be doing very well, I'm a great follower of you both and your great posts.
Attachments
SuddenDeath
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thanks Lee Shepherd glad you enjoy the thread.
nice trades on the FTSE100
have a nice weekend
nice trades on the FTSE100
have a nice weekend
Shhhhh!
SuddenDeath
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I wont tell,
SuddenDeath
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FTSE high 5932.6
et said this was trendline resistance,
well done et
et said this was trendline resistance,
well done et
Dick Lexic
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yep landed right on wave 5 1 min....i think
SuddenDeath
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yes agree , et is great.
jungerns
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Indeed very good...........
Hope you filled your boots et.
Good weekend to everybody.............Cheers.
My chart says 5933 :cheesy: For what I can tell from early use of this method, not always that precise, usually within a range, with it hitting the right number 50% of the time.
BTW I got the 5895 right too, for support at the end of the drop. I can claim credit for the 5933 as my own developed technique but the second I learned free on youtube, so one day soon I'll explain how that was done (giving you the link as well). I've only done it twice live though, saved screenshots both times.
You'd think it's just a matter of time before I can convert what I can say here into trading ability. But theory and practice are two different skills, like driving theory test and actual driving test. I've half-digested what I know and when it comes to actual trading I lapse into random behaviour under pressure.
If I was here I probably would have got in 5933. I was out playing golf with a guest. Pre-arranged. Pitch and Putt :cheesy:
This is a different method and I'm at least satisfied it works still. There is no hurry when you are learning, and I have been still a relatively short while.
Method I am doing now is different to the one three weeks ago which was good in the range then failed a few times when we got into the trend.
On 4hr chart, looking at this EW 3, we have not had wave 4 or 5 yet so it's possible the bull trend will reach a new high, though it doesn't have to as wave 5s can be truncated.
I'm still strongly considering the idea we could in later weeks reach 6000s. I think my method says this will occur, following a significant pullback. but presumably not one that would break the bullish line of the symmetrical triangle on monthly chart. Edit: actually, it shouldn't get anywhere near that line. I think. could change my mind. However, I don't have good charts above 1 month so there is a limit.
As for now, I reckon 38% retrace 5865 could be it as we should retest the August highs we broke out from. It may take a few days though to get to the wave 4 low.
I'm still strongly considering the idea we could in later weeks reach 6000s. I think my method says this will occur, following a significant pullback. but presumably not one that would break the bullish line of the symmetrical triangle on monthly chart. Edit: actually, it shouldn't get anywhere near that line. I think. could change my mind. However, I don't have good charts above 1 month so there is a limit.
As for now, I reckon 38% retrace 5865 could be it as we should retest the August highs we broke out from. It may take a few days though to get to the wave 4 low.
The reason why I question my view is because the annual chart looks like we should perhaps end the year down.
Thanks to Dick Lexic I opened a capital spreads demo account. Got better monthly chart.
To my surprise I have just found here the "spike" signature on the monthly chart that I used to predict the return to the lows twice, a few days ago, both times which occurred super quickly.
My working theory is that wave 1 should retest at least 61%, or if it goes 50% there should be some support there. If not (as was not the case two previous examples) price must return to retest the real S/R level.
Notice how the 50% line where the wicks retrace for support lines up in the middle of a large bullish candle. That's a fake S/R level (edit: or is the wick in the bottom range providing good enough support?). This is (almost) what happened before, cue bearish spike.
Does this mean the price will ramp up, then go down super quick to retest 61%, and then up again, like it did the previous occasions? We have a sample size of two.
When the spikes occurred previous days we were in generally bullish conditions but the trend had turned the time it occurred, so there may be some warning.
Thanks to Dick Lexic I opened a capital spreads demo account. Got better monthly chart.
To my surprise I have just found here the "spike" signature on the monthly chart that I used to predict the return to the lows twice, a few days ago, both times which occurred super quickly.
My working theory is that wave 1 should retest at least 61%, or if it goes 50% there should be some support there. If not (as was not the case two previous examples) price must return to retest the real S/R level.
Notice how the 50% line where the wicks retrace for support lines up in the middle of a large bullish candle. That's a fake S/R level (edit: or is the wick in the bottom range providing good enough support?). This is (almost) what happened before, cue bearish spike.
Does this mean the price will ramp up, then go down super quick to retest 61%, and then up again, like it did the previous occasions? We have a sample size of two.
When the spikes occurred previous days we were in generally bullish conditions but the trend had turned the time it occurred, so there may be some warning.
Thanks Lee
Always good to share and learn from other traders.
At the end of the day we all have one common goal.
Forum if always positive and there is a bit of a joke along the way.
It's a bit of a lonely business and not your normal 9 to 5 job (more hours).
Enyoy the weekend.
Last edited:
ISEE at 205 on Friday...markets should take breather?....too many call buyers.
ISEE 205 9/14/2012
10-Day Moving Average 140 8/31/2012-9/14/2012
20-Day Moving Average 125 8/17/2012-9/14/2012
50-Day Moving Average 113 7/6/2012-9/14/2012
52-Week High 205 9/14/2012
52-Week Low 50 12/1/2011
ISEE 205 9/14/2012
10-Day Moving Average 140 8/31/2012-9/14/2012
20-Day Moving Average 125 8/17/2012-9/14/2012
50-Day Moving Average 113 7/6/2012-9/14/2012
52-Week High 205 9/14/2012
52-Week Low 50 12/1/2011
barjon
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The long term view.
Crucial time imo. We been ranging for a couple of years with a narrowing range over the last year and we're now into the last swing resistance range with the first light coming on with the break of the trendline (just). Retreating out of that resistance area will turn that light off, but clearing the resistance area will turn the second light on with a third if the next resistance zone goes.
Crucial time imo. We been ranging for a couple of years with a narrowing range over the last year and we're now into the last swing resistance range with the first light coming on with the break of the trendline (just). Retreating out of that resistance area will turn that light off, but clearing the resistance area will turn the second light on with a third if the next resistance zone goes.
