FTSE 100 Intraday Trading - October

[mully]

At last the attempted breakout above the "old high" of 4329.
Will it succeed? First I think a test of this breakout required.
50% of the last wave 4300-4340 =4320.

 

[hungrybear]

Well I had today as a down day but a new high says otherwise. Unless we drop pretty soon and break Friday's low it's back to the drawing board, though I'm still confident of a significant high on Thursday/Friday.

 

[jonnyy40]

I'm waiting to show a chap around a cottage so can't really trade at the mo'.I'd keep a weather eye on ES as we're in very interesting territory today.

 

[mully]

Interestingly, FTSE holding above the peaks of Friday- initial sign that morning first move has legs.

 

[barjon]

mmm, had thought we were on our way back to the gain
line but this looks quite positive (that's a quick -5 to start the
week!!)

 

[hungrybear]

Ftse's now hit the target I had for it on Friday, on a day I thought it would be down. Hmmm. Should see a pull-back now.

 

[lockstock]

I had for today's trading on UKX
pivot at 4309
R1 @ 4 328
R2 @ 4 345

S1 4292

 

[lockstock]

Price making a higher high, as of yet, 60 min chart RSI not doing so.!!!

 

[Wideboy]

Rest of Europe quite strong, FTSE lagging a bit.
All depends on how US pans out, but I'm looking at a -ve or only very small +ve close.

 

[mully]

For what it is worth, there appears a 5 wave count from 14.30pm on Friday to 10 20 am today. 4294-4348. So using Bonsai fav fib levels that gives the following interesting levels for any pullback.
4328 (38%)
4321 (50%)
4315 (62%)
1 day SMA currently at 4319.

 

[lockstock]

Wideboy,

I have an e-mail- CFD report from IG, supposedly public hol. in US. - Columbus day.

 

[mully]

correct, but only impacts bond market. Equities are open but probably have low activity.

 

[2468steve]

lockstock,
bond market only I believe.

cheers

 

[lockstock]

Cheers guys,

Read it twice & still mis-read it.

 

[mully]

Having failed to break above the high of the day, then its back to test the lows post 10.00am.

The test may be resolved by how strong the US actually opens ( the futures are still indicating a strong opening.)

Maybe the MACD just wants to go back to the zero line !

 

[mully]

1 We have a stronger opening than the futures suggested
2 MACD never made it to the zero line.

Off we go to higher and better levels

NB: All the consolidations to-day have been very shallow suggesting underlying strength.

 

[mully]

Gap open
So following Bonsai "rules", good reason to expect FTSE to fill the gap back to 4360 sometime today (morning)

 

[Wideboy]

Agree Mully, watch for reversals around 8:40

 

[Wideboy]

Open doesn't seem too strong so gap fill plausible.

 

[mully]

We have the tightest open (1st 1/2 hour) range for a number of days. Above yesterdays value and range.

03/10: 30 points
06/10: 16 points
07/10: 31 points
08/10: 20 points
09/10: 21 points
10/10: 25 points
13/10: 27 ponits
Today: 7 points

Are we seeing an Open-Auction outside of the range? If so "there is good potential for a dramactic price move in either direction."

ie: we are going to see either Acceptance or Rejection.