FTSE 100 Intraday Trading - October

[boy]

306 points from yesterday?

 

[bonsai]

good god no.!

306 was the sb's price to close the trades.


but I did get 117 pts.

 

[hungrybear]

bonsai - do you do any trading direct on the futures market?

 

[bonsai]

not if I can help it !

lol

 

[bonsai]

todays active fib is at about 90.
so lets , for the sake of argument, suggest this pull back was just to close its gap on the way up.

so now watching closely.

 

[boy]

bonsai,

apart from the tax free situation why do you prefer SB to acctual futures direct access?

 

[hungrybear]

Bonsai, I thought gaps were only at the open and as the ftse went down before rising, where's the gap - unless you're talking about gaps from a few days ago, which will probably get filled later this year, I expect in November.

 

[bonsai]

I have a 2min dot chart.
if I don't get a dot , to me its a gap.
call it structural weakness if youlike.

its proved useful too often to ignore.
it left a gap around 90 on the way up this morning.

and the fact that it coincides with the fib, makes perfect
market sense to me.

ftse likes to fill its gaps.
but you can never be sure of when.
that's the adventure.

 

[bonsai]

I think you have just seen a pretty good illustration ?

 

[bonsai]

I see the dax has suddenly woken up !

 

[bonsai]

if you draw my trend line from under 4082 to touch the high this morning, you will find we have clear headroom if ftse wants to make a new high.

 

[bonsai]

hhmmmppphhh

and then there is always the unexpected !

 

[bonsai]

this is the bit that keeps us all very humble about the market.
imo

 

[bonsai]

macd has only now got back to zero.

so still all to play for pending its next move.

but 1 day is clearly under pressure.

 

[bonsai]

I have just seen that somebody has rated this thread
and all we get is a 4 out of 5.

what do you want , blood already ?

 

[bonsai]

thank you somebody.


to the rest of you miserable bastards,



**** deleted ******

 

[bonsai]

that was an interesting day ?
we are now back into steidlmeyer country.

but with an almighty hanging man or doji hanging over us.
barjon, what do you call it ?

hmm.
I guess technically, we could go to about 55 and still be in trend ?

 

[hungrybear]

RAOFL bonzai - from my 3 year old.

 

[barjon]

off piste today - knew it'd be interesting!

very nearly a gravestone doji and as its name implies..........

if we move down on the open the bulls should begin to rally
around 242 but if they don't hold it above 209 they might pack
their bags.

 

[bonsai]

HB




ok, here is a chart which pretty well says it all.
But I am posting it to point out once again the value of
constructing a resistance line.
You always have to give it a little while to confirm the top
but what's a few pennies here and there ?
Perhaps not quite as obvious as some previous charts but
Support turning into Resistance is clear if you know what to look for.

Not only that, but my hourly chart was also pointing to the same
level and the intersection of the two, gave me some interesting pyramiding trades today.

I'll put up the hourly chart in my next post.