FTSE 100 intraday trading - JUNE 2003

[lockstock]

Hi Bonsai,

Yep, case of fools rush in- this am.

More of a turn around on the day- it must have been up over 1% at some point during the day- agree with continuation of overall trend.
60 min chart actually gave a buy signal @ 4050.

Yep, you're right on the break even bit. Oh so nearly closed at 4070 for a small loss when I popped back. 'cos it did look like a bottom @ 4065 ( which in hindsight thankfully I just missed )then a slightly higher low @ 4071- hate loosing even 5 or 6 pts. The rest played out as I thought & hoped it would lower high @ circa 4085 & then a rapid descent :cheesy:


Was wrong about the Dow- now @ 9051/6

 

[lockstock]

Bonsai,

Just digesting your comment on the 5th wave.

So do you have a target ?


Looking at it- my guess is c. 4000 mark.

Do you trade the 3rd wave ??


Supposed to be the most profitable.

 

[bonsai]

lockstock
if we seriously break the bottom channel line, anything
could happen (and probably will)
4000 is a pretty number so you never know.
all I can say is that if this wave is a 5th it should have 5 legs
but if sentiment worsens it could always extend, so I dont
have 'targets'.Its gonna do what it needs to do.

 

[kevin546]

Hi Lockstock still at it I see LOL

Fluke & others as it was a good trading today I have put together my charts from what I did. Fluke I have decided that the 14 RSI is better suited to the trend change deals as it illustrates the trend better IMHO. On the 5 min chart I have decided that the 13 SMA is better suited because it remains that much closer to the price than the 34 EMA when trending the trends tends to give you a wake up call if you are not keeping up.LOL The 34 EMA appears better suited to the 1 - 3 min charts.


Kevin

 

[kevin546]

My example of trading the 5+ pointers today.

 

[bonsai]

I have now opened a new thread for JULY.

Please post on that thread.

 

[JonnyT]

Hi Kevin,

On your chart why would you have gone long at point 9.

The trend was still down then surely?

JonnyT

 

[kevin546]

JohnyT,

A temporary trend change with a higher pivot which was followed by 2 more before the price resumed the trend.

Kevin

 

[JonnyT]

Ah, a higher low.

Thanks Kevin

Paul