alliance
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FetteredChinos said:alliance,
sorry for the confusion. no DOW trade as yet, as we havent hit either of those limits. probability of one of them being hit today though..
FTSE short is currently still open from 4408...not going to be closed until either stopped out (4452), target hit (4382) or pattern changes (possibly thursday)...
been a couple of tedious days thus far eh?
hope that clarifies things...
FC
FC:
Tnx 4 info..had misread 10,221 as 10,121...not a lot of difference! :cheesy:
I thot ur ftse trade was a daily one...as a ftres person(!) AND a newbie.. does that not mean it closes(expires) each day, or am I being particulary obtuse again?
Bracke:
C'mon, u can't canvass opinion if ur not willing to share ur own! People who sit on the fence generally get splinters in da ass
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FetteredChinos
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well its on the daily cash, but im rolling it over until i close it out.
btw, triangle forming on the FTSE at the moment. could uncoil into a big move very shortly..
can anyone confirm whether triangles are generally continuation patterns or is the movement largely independant of previous action?
ta
FC
edit :- looks like we have broken already to the upside?
btw, triangle forming on the FTSE at the moment. could uncoil into a big move very shortly..
can anyone confirm whether triangles are generally continuation patterns or is the movement largely independant of previous action?
ta
FC
edit :- looks like we have broken already to the upside?
peterpr
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barjon said:
Jon
Thanks for the observations - I've no issue with anything in it - all good disciplined stuff which I try to adhere to.
I've actually been in and out several few times with smallish trades (even a few longs!) over the past couple of weeks.
However, I have built up a largish short position over the past week or so and am still with it though slightly reduced with a bit of covering yesterday. My absolute long stop is sitting at 4430 (200 DMA)
I am lately more inclined to move stops and add to - subtract from positions as new TA refines my view.
Right now, and in spite of the 4430 stop, the thing that will have me running for the exists is if the S&P500 breaks above 1103-5. If that happens I expect most indices will be testing the years highs again sometime soon afterwards. However, I still think the bears will have it and that there is a lot of downside just around the corner.
We'll soon see.
FetteredChinos
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cheers barjee
as i thought.
as i thought.
barjon
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fc - if it's a break it gives a target of 428/9?
peter - almost deleted my post last night 'cos of the granny and eggs flavour. It's just that I've got the T-shirt (a drawer full ) of getting spooked out by questioning my original analysis by introducing other aspects that I don't normally use. If that makes sense!
don't depart from your refined view
jon
peter - almost deleted my post last night 'cos of the granny and eggs flavour. It's just that I've got the T-shirt (a drawer full
) of getting spooked out by questioning my original analysis by introducing other aspects that I don't normally use. If that makes sense!don't depart from your refined view
jon
FetteredChinos
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bracke,. about 4430 i reckon.. broke upwards circa 4411, mouth of triangle just under 20 points...
looking a bit weak at the moment though.. we shall see.
FC
looking a bit weak at the moment though.. we shall see.
FC
FetteredChinos
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morning all. well, its now wednesday morning, and we havent really move significantly from 10am monday morning..
its like watching paint dry.
if we dont break yesterdays high, then my short target is now 4368, which i am still in from monday..
hope you are all well , ready to make a killing at some point this week (should it ever get going in either direction!!! )
FC
its like watching paint dry.
if we dont break yesterdays high, then my short target is now 4368, which i am still in from monday..
hope you are all well , ready to make a killing at some point this week (should it ever get going in either direction!!! )
FC
alliance
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Good Morning
an excerpt from an article by Bill Adlard of Chart-Guide.com.....for info only!!!
"In Elliott wave terms, the rally from the March 2003 low analyzes as "corrective" pattern, i.e. it's a bounce in a continuing down trend. That doesn't mean there can't be any more upside at all, though. It's possible for there to be a dip and for another corrective rally to take Footsie up to around 5000. But I think Footsie is in "dip" mode now, and it's not done yet. Footsie is clinging to support at around 4290, but I think resistance will now be at 4430. I think it's only a matter of time before support at 4290 is penetrated, and then the target will be about 4000, probably spiking a bit lower towards the 50% retracement. I won't know whether Footsie is going to bounce towards 5000 after that, until we've reached the bottom of the dip, and I can see what its structure in Elliott wave terms is. However, once the dip is done, even if Footsie doesn't make 5000, there will probably be a good buying opportunity, and a rally which will provide some useful upside. Until then, I'm inclined to keep my powder dry and look for short opportunities".
Disclaimer :cheesy:
The above is only his opinion!!!...NOT an invitation to trade his thoughts!
an excerpt from an article by Bill Adlard of Chart-Guide.com.....for info only!!!
"In Elliott wave terms, the rally from the March 2003 low analyzes as "corrective" pattern, i.e. it's a bounce in a continuing down trend. That doesn't mean there can't be any more upside at all, though. It's possible for there to be a dip and for another corrective rally to take Footsie up to around 5000. But I think Footsie is in "dip" mode now, and it's not done yet. Footsie is clinging to support at around 4290, but I think resistance will now be at 4430. I think it's only a matter of time before support at 4290 is penetrated, and then the target will be about 4000, probably spiking a bit lower towards the 50% retracement. I won't know whether Footsie is going to bounce towards 5000 after that, until we've reached the bottom of the dip, and I can see what its structure in Elliott wave terms is. However, once the dip is done, even if Footsie doesn't make 5000, there will probably be a good buying opportunity, and a rally which will provide some useful upside. Until then, I'm inclined to keep my powder dry and look for short opportunities".
Disclaimer :cheesy:
The above is only his opinion!!!...NOT an invitation to trade his thoughts!
barjon
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mornin' all
FC - - - talking of triangles. Descending triangles are usually continuation patterns but can appear at market tops. So how about this if we back off before the trendline and break the well tested support? Should be able to work out when quite easily (2/3rds to 3/4 of the way along) and it would give a target of circa 300, that's down to 4000. Just another bit to show how important that support under 300 has become.
good trading
jon
FC - - - talking of triangles. Descending triangles are usually continuation patterns but can appear at market tops. So how about this if we back off before the trendline and break the well tested support? Should be able to work out when quite easily (2/3rds to 3/4 of the way along) and it would give a target of circa 300, that's down to 4000. Just another bit to show how important that support under 300 has become.
good trading
jon
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FetteredChinos
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nice chart Barjon. the failure to hit the top trendline again thus far looks like a sign of weakness (forming a rounded top??) and we could get our break south sooner rather than later....
FC
FC
Good Morning Posters & Onlookers
Thank you for the chart barjon and alliance for your waves. FC I don't like this talk of killing, I might be on the receiving end.
Since Thursday morning (19/08) ftse has been see-sawing between 4300 & 4320. For those who are upside of this type of trading there are points to be made. So when will it break and which way.
As usual it will probably be the US which will provide the impetus. There is data due to-day from the US maybe that will provide the nudge.
Short from Monday still in place.
Regards
bracke
Thank you for the chart barjon and alliance for your waves. FC I don't like this talk of killing, I might be on the receiving end.
Since Thursday morning (19/08) ftse has been see-sawing between 4300 & 4320. For those who are upside of this type of trading there are points to be made. So when will it break and which way.
As usual it will probably be the US which will provide the impetus. There is data due to-day from the US maybe that will provide the nudge.
Short from Monday still in place.
Regards
bracke
FetteredChinos
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are we all ready to rock?
US open around the corner.....
lets hope for some impetus....
US open around the corner.....
lets hope for some impetus....
FetteredChinos
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bracke said:
try this link.. its updated fairly soon after the data is released. gives an idea for the week
http://biz.yahoo.com/c/e.html
hope this helps
FC
FetteredChinos
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hmm, DOW is giving it portions, but the FTSE is being a bit recalcitrant (spelling anyone??)
i really dont want to have to roll this short on for yet another day!!
i really dont want to have to roll this short on for yet another day!!
FetteredChinos said:
Good Afternoon FC
Thanks for the data link, my usual one is out of order until next month.
An 'A' for spelling if not for trading.
ftse is hanging on to 4400 for grim death, the bulls have a good idea of what happens if it breaks.
What does it cost you to roll a daily trade over ?
Regards
bracke
FetteredChinos
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well bizarrely, nothing at the moment, but i could be wrong..
as far as i can tell, im not out of pocket as yet. amazing what a bit of smooth e-mailing does.....
as far as i can tell, im not out of pocket as yet. amazing what a bit of smooth e-mailing does.....