FTSE 100 February

[Hooya]

yup in 1 min time I will have a double RSI top (assuming it stays where it is is) with higher market price on the 1 hr. I am short from 97. got slightly sucked in but still hasnt hit my stop so holding it for the time being

 

[Hooya]

.

 

[Finirama]

Been stopped out by one point in my last two trades so have put the top abit wider this time!!!...in from 4,499

 

[anmolway]

finirama , just wondering would you have considered the triangle breakout on the 1min at 73 10:42 am or the pullback at 10:55am.

Just wondering whether triangles or other breakouts work well with the ftse 1min

Also what stop do you normally use - it would help me out a great deal

 

[Finirama]

Hi Anmolway,

Not to sure whether it was a triangle or not...feel the second peak was not high enough....but, there was support fro the 32ema and positive rsi to suggest further movement on the upside

 

[Finirama]

Keep forgetting to convert to gif....wait and i ll do it

 

[Finirama]

here u r

 

[jonnyy40]

Bonsai.Just remembered your 1min charts used to have 55 and 510 sma's.Why not 60/510?

 

[Finirama]

I use 1R for my stop, i.e. 1% of capital. For example, say capital is 10K...1% = £100, playing £10 per point = 10 point stop.

Hope this helps

 

[Finirama]

I've got my stop at 4,511 this time due to the last two trades and being stopped put by 1 point b4 movement in my direction

 

[Hooya]

my stops are based on the current situation. i,e I have put trendlines on my rsi and a macd cross back over will cancel the signal but also have a % stop incase it moves to much before those things happen. DOnt forget the 1.30 data...it always shakes me out

 

[Finirama]

Thanks for the reminder

 

[anmolway]

thanks guys, it all helps. Jut wondering if you also pay attention to the dax to see what is happening.

for example today dax movement was stopped by the heavy resistance from the previous highs since jan. Indicating that movement may limited also - or am i talking nonsense.

 

[anmolway]

just had a look on briefing.com for the latest news. ppi and coreppi which was due at 1:30 have ben delayed. the initial claims are still out at 1:30pm

 

[Finirama]

Stopped out

 

[bonsai]

johnny
I do use 60/510 for macd

don't knowanything about 55 mins

 

[bonsai]

back now to the original fib at 4516

anyone wanting to short it now ?

lol

 

[Hooya]

yes please

 

[bonsai]

good a time as any, better time than most ?

but a/b may have been 1/2. (just bear that in mind)

no pun intended.

 

[Hooya]

added that poss to my analysis this morning. but with such an extend 3 if thats the case. 4 and 5 might be quite short ??