FTSE 100 - February 2005

peterpr said:
Last one 7-10-04 retrace 4733 to 4629 in 6 trading days - RSI fell to 50.87, slight bounce then down to 4564 in 6 more days - RSI 46.34

1-9-01 6839 retrace to 6205 on 22-9-01 RSI 77.1 to 27.2

12-11-99 6613 retrace to 6564 on 22-11-01 RSI 77.56 to 66.83

Plus a couple of muddy ones with v minor retrace followed by slightly higer highs but lower RSI's. Also, remember I'm using the high of the day for the RSI NOT the close. Doesn't look quite so extreme using the close.


A data point way outside the standard deviation of the rest of the data set.


The way things look - sentiment and all - not much. Say 4900 - 4950 ?


You can indeed, but you can do the same with any kind of evidence. They're just bits of evidence that have something to say about the odds - not proof.
Click to expand...

peterpr

Thanks for the information. The retrace information does not appear to be particularly conclusive in determining the immediate direction of ftse.
As barjon says, some sideways movement to take some heat out of the situation and then a further push upwards might be the alternative to a retrace.

Regards

bracke
 
FetteredChinos said:
if its any consolation, or surprise, im likely to be shorting for the remainder of this month..

setups are looking good for a 100-150 point drop from these level..

whether we climb much higher before then is the gazillion dollar question..


ps, while im here..

any tips on removing ink stains from body parts.

FC
Click to expand...

Seymour

There appears to be a certain lack of consistency in your post.

Lines 1 & 2 support one another but line 3 is in contradiction.

Could you provide an inkling of the point at which you may go short ?

Regards

bracke
 
im averaging into postions over the next week or so by the looks of it..

expecting the drop to come over the last few weeks of this month..

hence why i expect it to continue up a bit more (trend=upwards) but i shall be shorting the rallies until i see reason to buy the dips...

:)


cryptic eh?


ps. good news. managed to remove most of the ink..

nothing a bit of tip-ex wouldnt fix.
 
FetteredChinos said:
im averaging into postions over the next week or so by the looks of it..

expecting the drop to come over the last few weeks of this month..

hence why i expect it to continue up a bit more (trend=upwards) but i shall be shorting the rallies until i see reason to buy the dips...

:)


cryptic eh?


ps. good news. managed to remove most of the ink..

nothing a bit of tip-ex wouldnt fix.
Click to expand...


fc

oh, you traitorous varlet you :devilish:

I 'spose I should be happy that you've removed the ink ex your tip, but the mind boggles at what you've been up to ;)

good trading

jon
 
Just to add some fuel to the fire.

ftse gapped up approx 40 points this morning, so there is a nice chunky gap to be filled. As I remember it bonsai used to say that the ftse likes to fill its gaps.

Seymour

With cryptic comments like that have you ever thought about taking up fortune telling with or without crystal ball(s).

Regards

bracke
 
look, that was the advice that came with my singapore noodles over the weekend..


you must learn the Way of the Noodle, before you can trade consistenly..

im still only at prawn cracker level. my time will come.
 
FetteredChinos said:
look, that was the advice that came with my singapore noodles over the weekend..


you must learn the Way of the Noodle, before you can trade consistenly..

im still only at prawn cracker level. my time will come.
Click to expand...

Cracker(s) being the operative word.

As an aside - if you are prepared to ditch the noodles and move into rice, barjon's your man.

Regards

bracke
 
so ive heard.

i also gather he is a big fan of long chopsticks..

apparently they usually provide good support at either end, or the midpoint.
 
FetteredChinos said:
so ive heard.

i also gather he is a big fan of long chopsticks..

apparently they usually provide good support at either end, or the midpoint.
Click to expand...

So he claims but not when lit, unless of course you into s & m but best not go there.

Regards

bracke
 
Must I remind you bracke that you have been admonished before on these boards for being flippant. Do please remember that this is a serious business. You, too, FC - if you don't watch it I'll set our american cousins on to you and then you'll both cop it.
 
barjon said:
Must I remind you bracke that you have been admonished before on these boards for being flippant. Do please remember that this is a serious business. You, too, FC - if you don't watch it I'll set our american cousins on to you and then you'll both cop it.
Click to expand...

Please sir it was Seymour what started it.

Please accept my apologies for thread disruption although I did try to raise the level slightly with my gap comment.

No Colonial threats please.

Regards

bracke
 
FetteredChinos said:
bracke, dont be a cowardy custard.

besides, you started it!!
Click to expand...

Sorry Seymour but you know the code - when trouble looms get someone else between you and it.


Regards

bracke
 
Can't you just FEEL it striving for 5000 ???

I'm now looking at RSI's of 80 on both daily and hourly charts; 76 on 30 min and 71 on 15 min (That's calculated on the highs of the latest bars.

Looks like a pretty low risk short for a 60 point target drop with a 20 point stop over a couple of days to me (From 4982 that is)
 
peter.. just a thought..

would it be better to base short decisions on RSI of the Lows, and long ones on RSI of the highs?

just might be something to look at.

might get earlier signals etc?

FC
 
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