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have no idea but one more down move might trigger a pull back in the run up to the Dow open?
my trailing stop is getting very close.
but although it looks weak, we have got a very minor higher low in place at the moment.
so if the next move is up, I shall close for now.
my trailing stop is getting very close.
but although it looks weak, we have got a very minor higher low in place at the moment.
so if the next move is up, I shall close for now.
Bonsai,
Channel on 60 min chart, UKX, commencing on 23/10 @ 4209, touching again at support on the 24/10 @ 4219, almost touching on the 30/10 @4257, again @ 4273 ,3/11, & now just penetrated at sub 4,300, imho not enogh to say that the channel has broken down.
Next step, could be back up imho.
Cannot post a chart, using Sierra, unless someone knows otherwise.
Channel on 60 min chart, UKX, commencing on 23/10 @ 4209, touching again at support on the 24/10 @ 4219, almost touching on the 30/10 @4257, again @ 4273 ,3/11, & now just penetrated at sub 4,300, imho not enogh to say that the channel has broken down.
Next step, could be back up imho.
Cannot post a chart, using Sierra, unless someone knows otherwise.
lockstock, I see it.
pretty much the same line as mine.
suspect it may not be a major trend channel, just a correction
so although it has been broken I dont see that as hugely significant.
havent seen anything yet that says we wont go to 4450 and maybe beyond.
it may be worth keeping the bottom line of that channel on your charts to see what happens when we pull back up to it ?
although it has been support, it may well turn into resistance higher up ? (some big players seem to use that as a signal)
the only channel I am working on at the moment, is the one on page1 of this thread.
other people seem to post sierra charts. can you not save them as .jpg and then attach them in your posts ?
pretty much the same line as mine.
suspect it may not be a major trend channel, just a correction
so although it has been broken I dont see that as hugely significant.
havent seen anything yet that says we wont go to 4450 and maybe beyond.
it may be worth keeping the bottom line of that channel on your charts to see what happens when we pull back up to it ?
although it has been support, it may well turn into resistance higher up ? (some big players seem to use that as a signal)
the only channel I am working on at the moment, is the one on page1 of this thread.
other people seem to post sierra charts. can you not save them as .jpg and then attach them in your posts ?
sorry mully been away for a while.
am in the process of closing down the cottage for the winter
and returning to civilisation for xmas so will be in and out for the rest of the week.
no, I cant make a full 5 wave count yet, so am short again.
but now its turned down, it must stay down to complete the count.
am in the process of closing down the cottage for the winter
and returning to civilisation for xmas so will be in and out for the rest of the week.
no, I cant make a full 5 wave count yet, so am short again.
but now its turned down, it must stay down to complete the count.
ok, then
I guess technically, the move could be over with the new low for the day. But it can always extend and go lower. As far as I know there is no sure way of telling.
Certainly we cant say that 3 wave has been an extended wave, so 5 could become one ?
But its 4pm (darn it), so have closed for the day. That way I wont have too stick around to night if it needs nursing.
If it does pull back, the next decision may be tricky.
I guess technically, the move could be over with the new low for the day. But it can always extend and go lower. As far as I know there is no sure way of telling.
Certainly we cant say that 3 wave has been an extended wave, so 5 could become one ?
But its 4pm (darn it), so have closed for the day. That way I wont have too stick around to night if it needs nursing.
If it does pull back, the next decision may be tricky.
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LOL went long but closed too early but it was close to the end of day...true Bonsai I am looking at the US now...much the same as the FTSE.....60 min rolled over but it's not going anywhere...shorter time frames oversold so expect a bounce currently 91...later on 
Will check in tomorrow.
Will check in tomorrow.
Thursday 6th November
Economics
UK: October BRD Shop Index
UK: October Overseas Travel & Tourism
UK: October NTC/REC Jobs Report
UK: October SMMT Vehicle Registrations
UK: November Bank of England MPC Interest Rate decision
Finals
McCarthy & Stone, Punch Taverns
Interims
H1: BAA, Big Food Group, Boots, London Stock Exchange, MAN, Scottish & Southern Energy, Sondex, Synergy Helathcare, Tate & Lyle
Q3: BG, Cryptologic, Telewest
Let's hope the MPC don't do anything foolish, otherwise we may see an extended 5th ?
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lockstock
never throw an old trend line away - just because its been broken ?
Economics
UK: October BRD Shop Index
UK: October Overseas Travel & Tourism
UK: October NTC/REC Jobs Report
UK: October SMMT Vehicle Registrations
UK: November Bank of England MPC Interest Rate decision
Finals
McCarthy & Stone, Punch Taverns
Interims
H1: BAA, Big Food Group, Boots, London Stock Exchange, MAN, Scottish & Southern Energy, Sondex, Synergy Helathcare, Tate & Lyle
Q3: BG, Cryptologic, Telewest
Let's hope the MPC don't do anything foolish, otherwise we may see an extended 5th ?
------------------------------------------------------------------------------
lockstock
never throw an old trend line away - just because its been broken ?
Attachments
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In my ignorance, I try to concentrate on Ftse. There is so little real (weighted) tech in Ftse, it hardly matters ?
On the other hand there seemed enough resistance around 4320 to stick to my wave count.
Even a gap up opening might have been rejected and given me time to get out.
But I had at least the protection against a gap up of about 16 pts.
This approach doesnt always work though.
On the other hand there seemed enough resistance around 4320 to stick to my wave count.
Even a gap up opening might have been rejected and given me time to get out.
But I had at least the protection against a gap up of about 16 pts.
This approach doesnt always work though.
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