It depends how you trade, on my PnF systems I had buy signals at 3970, 3980 and 4000 yesterday afternoon, evening, none of them have unwound yet.
On a tick trading basis there were entry points at 3937 (break of range & min H&S), 3952 (break of overhead resistance), 3980 (break of continuation pennant, target 4030) - all of which may have been closed at the end of the day. I didn't take all the trades (more's the pity) but the tick positions I did have got closed at 17:25 at 4007/4008.
Today - soft start so buy on open (I got 4029), 4050 (breakout of ascending triangles - target for which was 4069 (If the target wasn't taken, then a break of 55 was the close point as the days trend was broken) - now looking for the next obvious entry point - which, to me at the moment, looks like a break out of the range through 62 to the upside or 47 to the downside, beware of US figures.
On a tick trading basis there were entry points at 3937 (break of range & min H&S), 3952 (break of overhead resistance), 3980 (break of continuation pennant, target 4030) - all of which may have been closed at the end of the day. I didn't take all the trades (more's the pity) but the tick positions I did have got closed at 17:25 at 4007/4008.
Today - soft start so buy on open (I got 4029), 4050 (breakout of ascending triangles - target for which was 4069 (If the target wasn't taken, then a break of 55 was the close point as the days trend was broken) - now looking for the next obvious entry point - which, to me at the moment, looks like a break out of the range through 62 to the upside or 47 to the downside, beware of US figures.
there you go lambchops
TBS has set it out very nicely.
cant really advise you on individual trades, it depends so much on what the market does and your own temperament..
but as the story goes, I wouldnt want to start from here.
with the benefit of hindsight, 3948,3980,4005 and 4040 would have worked well.These are spreadbet prices.
none of your stops would have been touched and you would be sitting on over 200pts for a move of 140 ?
EDIT
This assumes you would have traded a rolling cash and left it overnight
TBS has set it out very nicely.
cant really advise you on individual trades, it depends so much on what the market does and your own temperament..
but as the story goes, I wouldnt want to start from here.
with the benefit of hindsight, 3948,3980,4005 and 4040 would have worked well.These are spreadbet prices.
none of your stops would have been touched and you would be sitting on over 200pts for a move of 140 ?
EDIT
This assumes you would have traded a rolling cash and left it overnight
waytogo et al
one way of timing the market is to have a momentum indicator
in tune with the market ?
just a thought for you,but this market is probably not going any higher until the right momentum indicator returns to about zero ?
so when ftse starts up again it may be worth adjusting your s/t indicator so that it shows zero on the pick up ?
possibly around 1.15pm ?
one way of timing the market is to have a momentum indicator
in tune with the market ?
just a thought for you,but this market is probably not going any higher until the right momentum indicator returns to about zero ?
so when ftse starts up again it may be worth adjusting your s/t indicator so that it shows zero on the pick up ?
possibly around 1.15pm ?
Depends on what you can afford to trade and what risk you are prepared to take.
Some people start with a smaller amount, build up to their 'normal' trading volume as they get confirmation of the move, then add smaller amounts again as the move progresses.
Others start with their 'normal' positions and then add smaller amounts - all personal stuff really.
US figures - crap - do not back up the figures yesterday - not that the US would ever massage figures......
Some people start with a smaller amount, build up to their 'normal' trading volume as they get confirmation of the move, then add smaller amounts again as the move progresses.
Others start with their 'normal' positions and then add smaller amounts - all personal stuff really.
US figures - crap - do not back up the figures yesterday - not that the US would ever massage figures......
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Woman "Yes, three years now"
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Woman "You mean you're not going to ban us from the Cathederal?"
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Woman "Well, they banned us from the supermarket"
Priest "You did say your husband ... you are married?"
Woman "Yes, three years now"
Priest "Well, my child, I can tell you that you have committed no sin"
Woman "You mean you're not going to ban us from the Cathederal?"
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Woman "Well, they banned us from the supermarket"