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dans_ya_man
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Sharp rise up there coinciding with a sharp drop (9$) in oil.
Is this the turning point:?:
Is this the turning point:?:
it could be, the high for oil for the next couple of years could also have been hit.
catracho
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couple more days to go?
Closing in on target !!
feels like the move down accelerating..now we just need some REAL FEAR!!
THEN...MAYBE... a tradeable low?!
Closing in on target !!
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dans_ya_man
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Gone for a short at 11055
Bounced off my hourly upper channel line and also broken my 5 min trend line
Not sure on target yet
Bounced off my hourly upper channel line and also broken my 5 min trend line
Not sure on target yet
dans_ya_man
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Out for +10, s/l hit,
Awaiting next short
Awaiting next short
chilltrader
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Not convinced this is the end of the move down. FTSE has to hit 5000
dans_ya_man
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Got there in the end, was expecting a reversal in the last hour as seems to be the norm as of late.
Was awaiting confirmation with a breach of the 10 min trend line which held out up until the final hour
Got confirmation at 11065, closed at 10940
Was going to hold over night but with the way things are im happy with any profit
Was awaiting confirmation with a breach of the 10 min trend line which held out up until the final hour
Got confirmation at 11065, closed at 10940
Was going to hold over night but with the way things are im happy with any profit
Fibonacci cycle
WOW man.. its the 16th today and you were so right!!
I am still not convinced oil has seen a recent low and I think the market should come off over the next few days. I dont have any mathematical calculations to back me up like you might.
What do you reckon?
WOW man.. its the 16th today and you were so right!!
I am still not convinced oil has seen a recent low and I think the market should come off over the next few days. I dont have any mathematical calculations to back me up like you might.
What do you reckon?
dans_ya_man
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Its not plain sailing yet tantra
But if breadman is right I feel he deserves a gold medal at the very least and I for one will be rushing out to the shops to buy a book of fibonacci cycles.
Still a up hill battle to go, we shall see
But if breadman is right I feel he deserves a gold medal at the very least and I for one will be rushing out to the shops to buy a book of fibonacci cycles.
Still a up hill battle to go, we shall see
Atilla
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Well I'm at a loss about the TA on the charts. I was expecting a bounce to 11600-800s to the neckline and we didn't get it.
I more recently started thinking about 10500s as Catracho's charts called sometime back and now the possible turn backup.
I reckon the 11000s going to be some major battle line and best thing is probably to carry out quick scalps on these moves.
I'm finding going tough. My long in the morning got taken out. My short in late afternoon likewise. Not a good day for me.
I'm tending on the long side now but not sure... 51/49 says go long...
It looks like a bottom time and price more or less hit at the same time. I think we now rally for 20 to 25 days. looking for 11600 or 12000/12100 area. short term the dow is at resistance the dow could pull back to 11115 over the next few days but I think it will go higher. Their are so many people short at the moment that they need to close positions which takes the market higher. I think we may well have seen the top in oil, for the next couple of years I expect to see $100 oil before $160. The banking sector also had a big turnaround today.
The large traders were long 22000 contracts in the S&P500 as of last week. They have been on the right side most of the time for the last 12 months.
Atilla
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Great call with yesterday turning point Breadman. I've pencilled in the 6-11th of August as a possible next turning/congestion area on my charts.
Hmm.. sounds interesting!
How do you guys normally enter/exit trades i.e via stops/limits or do you avereage out?
Recently, i've made a mint keeping stops to enter and then 'forgetting' about them.. but then i've lost what i made intraday - foolishly chasing the market! I'm gutted. Yesterday was a really bad day for me. I thought we'd see an even lower side to the dow.
Anyway, positions now all closed on US indicies.. gonna take a couple of days off.. and try and see what the over all long term sentiment is. Was always under the impression that if economic indicators all painted a bleak outlook.. talked about recession fears etc etc, then that would feed through to the stock market (a bear market)... have learnt that is not the case, there will always be short term 'bounces' which can wipe me out!
dans_ya_man
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Well I'm at a loss about the TA on the charts. I was expecting a bounce to 11600-800s to the neckline and we didn't get it.
I more recently started thinking about 10500s as Catracho's charts called sometime back and now the possible turn backup.
I reckon the 11000s going to be some major battle line and best thing is probably to carry out quick scalps on these moves.
I'm finding going tough. My long in the morning got taken out. My short in late afternoon likewise. Not a good day for me.
I'm tending on the long side now but not sure... 51/49 says go long...
Well I am sure your not the only one struggling this week, I for one have been finding the going very tough.
I have decided to keep away from any trades in between 10800 and 11400, until we have a clear direction.
looking through the forums its seems a 50/50 in which way people feel the market is heading from here:?:
Ill be sitting on the fence for now and will not place anymore risky trades.
yes we got a reaction on my turn date but now we need some follow through, We need to have more than 4 up days. Alot of people seem to have been waiting for slightly lower prices, so the market has done it's job of catching them out.I missed the long trade at 10830 on Tuesday as I was also waiting for lower prices, but I did go long of the QQQQ yesterday.When the market fell 20% and all sections of the media starting saying we were in a bear market that was a very good sign that a change in trend was not to far away.
that's a very brave statement!?
It's a weird thing this oil stuff. On the one hand runaway inflation ain't exactly good for the economy but on the other I think, well get those nasty big trucks and too many cars off our already overcongested road network! I believe Mr Mercedes Benz reckons that in 5-7 years time half of all new cars sold will be electric....
$200 oil i say! no no don't stop there $500 oil! Difficult times maybe, but let's use some brains and technology to try and save the planet in the meantime!
It might be closer than you think!
Israel's dry run 'attack on Iran' with 100 jet fighters - Middle East, World - The Independent
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