barjon
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Well that's a nice couple of candlesticks - yesterday's uncertainty
followed by today's hammer. Should be bullish tomorrow
assuming a firm opening session. Trouble is the ftse seems to
quake whenever the dow shivers so I suppose much depends on
where the dow gets to this evening (and/or tomorrow pm).
followed by today's hammer. Should be bullish tomorrow
assuming a firm opening session. Trouble is the ftse seems to
quake whenever the dow shivers so I suppose much depends on
where the dow gets to this evening (and/or tomorrow pm).
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a hammer, bang on a fib should be a useful reference point !
if we are on the bullish tack, seems to me the first target will be to take out yesterdays high at 4411 ? and then close above it .
after that we have the top line to deal with , say 4420
but no gaps to fill other than a possible at 4423/6
however we have had hammers before which failed to follow through.
on the downside, one would expect that a stop at 4355 might be 10 a penny, so I wouldn't put mine there. And I haven't.
quote now 79/83
edit
by, the way, the channel bottom line is now at 4444 and rising.
(so technically if we take too long climbing back up, we could make a new high and still be below that line !
)
if we are on the bullish tack, seems to me the first target will be to take out yesterdays high at 4411 ? and then close above it .
after that we have the top line to deal with , say 4420
but no gaps to fill other than a possible at 4423/6
however we have had hammers before which failed to follow through.
on the downside, one would expect that a stop at 4355 might be 10 a penny, so I wouldn't put mine there. And I haven't.
quote now 79/83
edit
by, the way, the channel bottom line is now at 4444 and rising.
(so technically if we take too long climbing back up, we could make a new high and still be below that line !
)
Last edited:
expecting a good days today. Thanks to the dow looks like we will gap down but I see a move up before a potential reversal (maybe a failure at 400) back down later in the day. Lnger term my 60 min chart seems to be turning up so that fib could be low.
Anyway, less posting today and more concentration on the trading. See you later
Anyway, less posting today and more concentration on the trading. See you later