FTSE 100 February

[bonsai]

what's happeningon S&P ?

well, I'm going to call this a function of the apex.

it wasn't dead on but close enough for me.

up about 9 pts since the pull back.

 

[FetteredChinos]

btw, is that a mini "adam and eve bottom" forming on the Dow? could have more legs up perhaps another crack at the 10700 level?

FC

 

[Hooya]

just out of interest wonder how and RSI apx will effect
things 😆

 

[bonsai]

long from 4370 on the march future. could be a big drop in the DOW this evening

FC
your logic appears unique.

why would you go long if you think the Dow will have a big drop ?

 

[keano]

haha 'unique'....lol Bonsai

 

[FetteredChinos]

lol bonsai, well spotted.

well, once again, my system says LONG at todays FTSE close, which is what i did. but having looked at the DOW at 4.45 i wasnt terribly comfortable with taking such a position.

as it transpires, the DOW has now taken off and hit new 52-week highs. SB prices went parabolic too lol!!!

just goes to show why we all have systems and dont trade on "hunches".

i must learn to have more faith in my system. it works for me. i just have so convince my pessimistic side not to interfere!!

am off to check out TT now 😱

sorry to cause confusion bonsai, im only posting my trades good, bad and horrible!!

FC

 

[bonsai]

I had hoped that this thread would be used to explain what
and why, particularly for people trying to grasp the nettle of trading.

I may be mistaken but it's not clear to me how anyone else will benefit otherwise.

perhaps if all you want to do is post the what, then it may be more suitable for your journal rather than this thread ?

 

[User]

Bonsai, what do you want explained?

 

[FetteredChinos]

Bonsai,

Point taken. You have a PM. I'd like to know your thoughts.

didnt want to take the thread off topic. hence the unsolicitated message.

FC

 

[barjon]

blimey, you can't have half a day off can you? 282 posts to read.

uncertainty candle today (yesterday!!) but closed low enough to
drive the third confirming nail into the new intermediate trend.
Next nail goes in below 4357. Got a bit lost as to where you
wavers have us trend-wise??

 

[Fluke]

Bonsai.
Your post last night at 8.42.
You have now reasured me about this thread.I thought it was going all over the place lately,back and forewards to the DOW,FTSE,S&P etc ect.Its taking up too much time to keep up with all the gossip ever day now.
Regards .

 

[Hooya]

Bonsai, dont worry my EW teachings should be enough to
keep you in learning of how not to do things 😆


BTW will be watching to see the cash spike up to close the gap at 34 whilst the futs saty lowish. Its been happening nearly every gap up in Feb so cant see why this one wont be different🙂

 

[Hooya]

I look forward to your analysis Fluke


edit: that was a weak opening spike

 

[bonsai]

seemed to meet the old top line of your triangle ?

 

[Hooya]

my top line was slighlt downward sloping so we have broken above it but if we extend the bottome line that would be about 412

 

[bonsai]

also the area of last futures expiry.

bulls are out of pocket so far ?

edit

I was trying to be generous and defer to you.

ok, it seemed to hit the old top line of my triangle

😆

 

[bonsai]

barjon
if you draw a line across the peaks, we have a top line which is currently at 4420
until we break that , I think you have to say we are still in a downtrend.

so am counting the recent peak as an a/b/c and now resuming the downtrend despite the U.S. bursts of 100+

 

[Hooya]

thanks🙂

Question do you only use one time frame to trade off i.e your 2 min. I know you have longer term for trendlines and fibs etc but ulimtately for entry and exit do just use the 1?

 

[Finirama]

Got a target of 4,430 if you take yesterdays action as a double bottom

 

[Hooya]

shoot missed the goose...caught playing with my charts:-( .

we hold above 4415 I think we will continue to close the 34 if not
back down to the trandline we go. (its a pivot thing)