FetteredChinos said:that would be the bradley model![]()
Peterpr,peterpr said:Jon
Well I finally hit the button at 5010 - Dithered as usual and missed a slightly better entry. Mentioned a week because that's the timeframe I view the trade; plus before hitting the button I still thought it might meander a bit more and make it more marginal.
My biggest concern is that a respected NL is calling a DOW turn date around 16th Feb from a significant high. If the DOW does power higher over the next few trading sessions then, with present sentiment and regardless of all these high falutin techie measures, old footsie is just bound to follow.
We'll see.
peterpr said:Heres the Bradley Siderograph on both DOW and Footsie.
It's not claimed to say anything at all about direction - just significant turns. There's a BIG BUT though - astrology and all that. Still, seems to have found quite a few of them.
One of the US analysts I follow has called a significant turn for 16th as well - based on fib projections from previous major tops/bottoms.
My own confidence in a bit more downside for Footsie is based more on the MACD, RSI and August regression channel though- there still are some seriously over-the-top conditions on all of them right now. I see the odds as being heavilly on a retrace to around 5000ish at least . Maybe more upside after - maybe not. We'll see.
gullible said:PeterPr,
Casual observation of the DOW and FTSE charts attached to your post seems remarkably accurate. Please can share the source of these charts?
Gull
bracke said:Dear Shorters
After reading the recent posts I can't but help feeling that considerable whistling in the dark is taking place and that you are attempting to boost each others morale.
I look at the trend, it is continuing upward and appears to have consolidated above 5000. I suspect it will require something hefty to shake the tree and push ftse below 5000.
I seem to remember reading that the practice of averaging up or down is a very dangerous ploy and can seriously damage your wealth.......I know iv'e been there ! I mention this in case there are newcomers to the world of trading who may be tempted to do the same...you have been warned.
Regards
bracke
watercooled said:I'm off abroad for a couple of weeks, but left my shorts in position.
Have fun!
FetteredChinos said:afternoon bracke..
wise words young lady..
still think we are going down though.. overbought in pretty much every timescale, and 3 week patterns indicates a drop next week after this week's narrow shenanigans..
FC
watercooled said:Yeah... right. Thanks for that matey. You can't tease the bears when they are about to make some cash. The BBQ is ready, I'm looking forward to some steak! The next couple of weeks will be very tough for you guys.
I'm off abroad for a couple of weeks, but left my shorts in position.
Have fun!
bracke said:Neither bull nor bear. I'm merely keeping my fur dry, so not tough either way but If I did end up on the menu you would find me very tough.
The only time I ever went on holiday and left a trade open was a long with........................Marconi, Oh what a homecoming. Never did that again.
Regards
bracke
FetteredChinos said:you havent been on holiday for 3 years?
all work and no play makes Bracke a dull boy...