FTSE 100 Intraday trading - MAY

[bonsai]

fluke
very reasonable argument

but I have known flat corrections to be 3 x A

and at the moment I am on the right side of the trend.

its never nice though when it loses the gain line and needs to recover fairly quickly.

at the mo my stop is 60 on the cash.

 

[bonsai]

and I also have half an eye on the top of the channel

4100+

 

[Lambchops]

Covered for +1 at 72. Same reason as waytogo.

 

[Fluke]

bonsai.
I would agree about the top of the channel 4100 and bow to your experience.

 

[bonsai]

Fluke
appreciate the vote of confidence but
please always do your own thing.

my reasons for doing anything are all in the present
in 10 mins I could have changed my mind.

 

[Wideboy]

The uptrend does seem to be struggling now.
Time to sit out and wait for more confirmation - market too flat at mo.
Remember, being out of the market is still a good position

 

[FTSEBOY]

Bonsai,
I like your chart you posted. I am just about to ask Trade2win what anyone thought of ADVFN UK Platinum package with Advanced Level 2, as I have opened my IB account but it is doing my head in trying to find the right package with streaming charts for FTSE cash and futures,volume,RSI and a function where I can input pivots.
Cheers
FTSEBOY

 

[bonsai]

ftseboy
before you subscribe to that package I suggest you join their premium bulletin board.
and do nothing else for a week or 2 until you have read what advfn posters have to say about it.

caveat emptor ?

by the way I am also on advfn premium board.

 

[Wideboy]

Long FTSE 4072 - 15 min rsi trend line broken to the upside, looks like its caught its breath ready for another climb...

 

[bonsai]

do you resistance lines ?
nobody seems to have mentioned them but maybe that's because its a name I have coined for a particular trading aid.
the following chart shows wht I mean. The line is drawn starting from some significant low up through the first time a high occurs.
so starting from 'support' it has turned into 'resistance'. But the index did not give up and is now climbing to ?
there is a strong possibility it will continue to climb until it is hit again. And also note there is now clear sky up to 4100.
EDIT
I have just noticed there are 2 lines on the chart. The resistance line is the one starting at 3928. Ignore the other one, thats doing something entirely different
<img src="http://web.onetel.net.uk/~gawgaw/resist.gif">

 

[Wideboy]

Yes I also draw trend lines on RSI and use the breakouts as signals. The breakouts tend to occur on RSI before the actual price breaks out thus giving you a nice entry

 

[bonsai]

its been a long wait
but it looks as though somebody is getting impatient anticipating a further dow surge.
ok if it happens but watch out for the falling knife if it doesnt !

trin is looking good at the moment.

 

[bonsai]

nice but dow may wait for a while
so taken 91 for +26

 

[bonsai]

Is this a dagger I see before me ?
.
.
or art thou but a dagger of the mind, a false creation
proceeding from the heat opressed brain ?

W.S

lol

 

[bonsai]

that was a tiring day
still something to show for it. !

patience is a virtue ...........?
especially with ftse.

hope you all did well.
a bientot.

 

[kevin546]

Bonsai

If you have time would you be kind enough to post one of your intraday charts (ideally today) illustrating what you look for in terms of your entry and exit points, if need be the Snake entry you mentioned earlier.

Kevin

 

[bonsai]

gorluvaduk
let me explain
my intraday charts are on my other computer
1-I need to take screen images of appropriate program windows
2-Then each needs to be cut to select the bits you want to see
3-They are bmp's (about 1mb) so they have to be converted to gifs to make them a reasonable computer size
4-then I have to run dcc on both machines to transfer them to this computer.
5-then I need to load them to an ftp site so they are on the web
6-then they need to be posted here so you can see them

so if I say no, hope you will understand.
no.

 

[bonsai]

On the snake , the pattern aborted anyway.
basically its a failed retest of a previous and important high or low.
at the time I think it turned down 5 pts short of the previous high.
so would have been very low risk entry if successful.
it was successful for about 10mins.But I dont count that as success.

 

[bonsai]

now I think about it I did post a chart earlier today to illustrate my resistance line. It covers more than 1 day but maybe that will do ?

 

[kevin546]

Bonsai

fully understand and accept your NO response, I saw your previous chart and yes fully understand this as it is basic charting. I just wondered what your set-up might look like for entry from a shorter term chart, no to worry though.

Kevin