Probably not much different from the late news Thursday night., but I didn't get it.I am on CET, an hour later, and I get up early.
The news was doom and gloom for Spain and Portugal. and Europe's ministers are not moving fast enough. That isn't going to make the markets go up and the Dax opens an hour before London. The OOH US markets were not looking firm, either, but they have a 3 point spread, then, and the Dax 1 point.
I am on CET, an hour later, and I get up early.
The news was doom and gloom for Spain and Portugal. and Europe's ministers are not moving fast enough. That isn't going to make the markets go up and the Dax opens an hour before London. The OOH US markets were not looking firm, either, but they have a 3 point spread, then, and the Dax 1 point.
Good call, wish i was on CET. The extra hour would help.
Dick Lexic
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new high today?
Again, hard to put opinions aside a trade what you see. The pullback was what i expected so i missed out on the rise. 4 years full time and still find it hard to just trade what i see.
Nice bounce off yesterday high. I suspect we will trade sideways until 13:30.
Trade what you see! Is this a dark art called 'hindsight'?
No criticism intended, but I think we all feel like this.
Have you done any measuring of when you don't to see what the success rate would be if you had? I remember trying to dothis but couldn't keep up the discipline long enough to see!
Dick Lexic
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roger wilco :clap:
great call....how high will this go....will there a meaningful pullback / retracement?
Dick Lexic
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new high is fine, it might signal a pullback also dow trading over mthly high. we could certainly do with a pullback now.
Mark, do I read that right? You've been a full time trader for four years? If so, good on yer. Well done for trading for so long, and nice to have another full time trader on this thread.
This morning we have done yet another 161.8% extension (5448.4) from yesterdays high (5419) and this mornings low(5371.5). But the price action since we tagged 161.8 has been sideways, so maybe we are not done with another push up. The ES looks like it wants to take on the high from wednesday, which would mean a push above 1215 and possibly up to 1230.
It's very difficult, mate. I I got 35 points out of the Dax, this morning. It went down further before it went up. No way could I have spotted that rise and I did not expect it, either. When it happened, I didn't believe it, so I lost it. I think that it takes a lot of mental domiination to overcome one's opinion about what is going to happen and I was getting ready to short again. The Dax, i said earlier, was a no brainer for me. It could have been wrong, though!
I nearly lost the pullback at 1030 on FT and have barely made 9 points out of it.
The first hour of trading the Dax is worth watching if you have an opinion on how London will open. You can get into the Dax with a 1 pt. spread because it opens at 0700 UK time. When London opens it can move, though, so be right!
parki - you are right that it is a very different animal to the ES. I have to change my trading style after 2:30pm and allow for bigger pullbacks on entries due to the ES leading the way. The ES will usually retest an extreme within 30 minutes of making a high or a low, whereas the FTSE can bounce off a high or low and motor back the other way.
All said, I still prefer the FTSE to trade over the ES, probably just out of familiarity, but also because orders are filled easier. It suits a scalping style better than the ES.
Sidekicker
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Samirs said:
Sidekicker said:
I was about to ask you. I think your targets are still in play but dont know how far high this is going to carry on.
Sidekicker
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Price is moving up on low volume, which is not a good sign.
I'm not sure my bottom targets will be in play unless the range holds, though I would still look to a 50-61.8 retrace to the 5100-5200 region.
Medium term I think I am bullish, I just can't see any other way apart from the powers that be to support the markets and do more QE - it's just a question of where to get in long.
