FTSE 100 Intraday - November

[Hooya]

interesting infor...i dont have any gaps on my zz3 chart...not even in the 1 min chart...


102 Macd Bonsai

 

[bonsai]

aha ! yes 510/5, gotya.
can't tell for sure but that looks like a line chart ?
so they wouldnt show ?

didnt notice your triple bottom. I only chart it for 3 days.
not sure what it might really mean.
what I do see is the repeat failure to stay above zero which
surely is a clue to the state of the market. (and direction)

 

[Hooya]

dont know waht it means but if bearish and bulish divergences mean something I guess double bottoms do to??

Sorry that was a UKX chart here's the ZZ3

 

[mully]

I thought i would add some perspective. Using a 10 min chart, and equivalent MA of 6 and 51, it appears that -30odd on the MACD appears to offer buys and, as Bonsai has pointed out, the MACD peaks have recently found problems over-coming the zero line. I presume we are trying to work back to the zero line.... and then it gets interesting again.
Also, in hindsight, note the clear divergence with price and the MACD at the market peak last week.

 

[Hooya]

- or +30 seem to be good entry in both direction as long as you wait for it to turn.

 

[Hooya]

Bonsai looking at the 60 in line chart is it possible this is the end of the 5 with the abc yesterday/thismorning being 4?


P.S you are not allowed to answer"anything is possible" LOL

 

[bonsai]

lol
if I wait long enough it will make a new low and then I can answer NO.

the only answer I can really give is
'that is not my wave count'

after a new high at 4411, I can think of no reason why it may not want to test its bottom trend line at 4230 ish.

I can't find a count that says we have had a 5th of the 5th of C.

 

[mully]

I am no expert on EW (i'm the sceptic), but if 4375 was wave B then i can count only three completed sub waves of wave c. In otherwords, we are probably in wave iv and have one more downleg to complete the 5 waves of c.

 

[bonsai]

perhaps I should also add that as the rally was not strong enough to reach the top of its channel, the low could be a lot lower than 4250.

Even FT250 seems to be turning over.

 

[mully]

Just to play the devil's advocate, couldn't the move from todays low be wave A, the drop since 12.00pm wave B with wave c to come.
Just an alternative.

I am paying attention to the time span of the previous rally that started yesterday and ended abruptly at 9.00am to-day. In otherwords, this current rally appears much, much shorter in time.

 

[bonsai]

lol
"anything is possible"

 

[Hooya]

 

[jonnyy40]

I'd be interested to know if anyone has made it policy to avoid trading FTSE during first half-hour of Dow?

 

[Hooya]

I seem to be developing bullish chart indicators...not sure why but that latest Whitehouse scare didnt help

 

[barjon]

jonnyy

I avoid it, but watch for the DOW 10 o'clock reversal

Got caught out this morning - had gone long, got diverted
and suddenly I was - 40 . oops.

a certain symmetry in the attached? There were 50 odd days between 1 to 2 and 2 to 3.

 

[bonsai]

ok then
we have finished that 'c' leg, made a new low
and now we have the pull back.
macd approaching zero again.
time to watch closely for ? possible failure ?

 

[mully]

Bonsai,
I am slightly confused by your count. Any chance of a chart/picture to clarify my confusion?

 

[bonsai]

unfortunately my charts are on my second computer
and its a pain to transfer them over.

maybe later ?

 

[bonsai]

oatman
have looked back but definitely have high almost at the start

do you have jonnyy's problem ?

 

[Hooya]

wouldnt surprise me if we moved down to atleast have another go at the lows tomorrow...but my 60 min chart looking near to turning back up time wise but not to sure from where