Diary of a swing spread better

[chindl]

Out on the one min doji - +16. Entry from the bounce at 15:40 - looking at that inverted hammer now makes me think it's a tad too earlt to have T/P'd that.

 

[chindl]

And - that inverted is right on the bottom of that flag point at 32. 1st test of the inverted hammer now and it looks to be failing.

 

[Slapshot]

Slaps - what would your target be on that flag Slaps, 25 points from here?

I've never been very good at working out targets Chris, it's something I'm still working on. I'm currently short and will be looking for the 10900 area give or take a few, or and probably more importantly when a pattern forms.

Might worth noting that 10925 provided support late on yesterday

 

[chindl]

Falling wedge now forming.

 

[chindl]

Bit of a bummer, my system at work is v slow and it's causing me problems, just taken +12 on the fall from the pullback as I keep losing the price browser. May leave in a minute and call 28 points a good mornings tally. No distractions tonight, football free. Only 8 matches left, including the dead rubber on the 8th.

 

[Slapshot]

I'm hoping we will test 10900 today as i have a long trade planned at 10890.

Nearly there

 

[Slapshot]

Out for +13, god that seemed like hard work. PD showing on RSI & CCI

 

[Slapshot]

Here's the chart. Entry was probably a little premature, but hindsight is 20:20. Still the drop soon followed and out for +13.

With IG's spreads it was actually a +20 move! Really got to look at Worldspreads for my intraday stuff.

 

[chindl]

Slaps - as a rule on targets from flags, the pole distance should be the retracement figure and you would usually take that figure and deduct or add to the bottom point of the flag support/resistance point, depending on whether a bull or a bear. So, the flag you called correctly earlier acted according to plan. Just over 40 points on the pole, it should go somewhere in the region of 10994. Give or take a few points. I've calculated that pole starting around the close yesterday, if the pole was to be counted as todays open, which would probabluy make more sense, then it would have been about 30 points, so went according to plan.

I will try and get a link on how to look at some targets posted later. I generally look at the candles, they offer a good insight into where price could see some S/R.

Chris

 

[chindl]

Some nice divergence on RSI forming, but I'm outta here now. Speak to you all later.
Chris

 

[Slapshot]

Slaps - as a rule on targets from flags, the pole distance should be the retracement figure and you would usually take that figure and deduct or add to the bottom point of the flag support/resistance point, depending on whether a bull or a bear. So, the flag you called correctly earlier acted according to plan. Just over 40 points on the pole, it should go somewhere in the region of 10994. Give or take a few points. I've calculated that pole starting around the close yesterday, if the pole was to be counted as todays open, which would probabluy make more sense, then it would have been about 30 points, so went according to plan.

I will try and get a link on how to look at some targets posted later. I generally look at the candles, they offer a good insight into where price could see some S/R.

Chris

Cheers Chris

 

[hungvir]

Well done, guys! It's obviously been a good day for you.

I just have time to look at the market now. But look at those last three obese bars. I'll wait for a chance to go long.

 

[hungvir]

Long is opened. The DOW has moved quite a bit in my favour already.

 

[hungvir]

The pause was short. Will trail my stop.

 

[chindl]

Took out a gravestone doji like it wasn't even there. Near to the days high. Now I have a twitchy finger - missed that lovely reversal at 19:10 and look where it went. Will it bounce off the high of the day? V. oversold!

 

[hungvir]

10964 is a potential resistance level. Will further tighten stop.

 

[hungvir]

Took out a gravestone doji like it wasn't even there. Near to the days high. Now I have a twitchy finger - missed that lovely reversal at 19:10 and look where it went. Will it bounce off the high of the day? V. oversold!

There's a pullback now at just around 10964. Could have taken 14 point profit and reenter at a better price. Will see how it plays out.

 

[hungvir]

And there's no CCTV here any more I still think it's nice to know who's online.

 

[hungvir]

The pullback was too small for me the get out and go back in again. Not worth the spread.

It looks like it's going to head north again soon.

In any case my trade will be better than BE.

 

[hungvir]

10974 is the next potential resistance level. But it already broke thru that.