FTSE 100 Intraday Trading - October

[bonsai]

Hb
you may need a 1 or 2 min chart for this.

from the low I have leg 1 up to 4105
then pull back for 2.
leg 3 up to 122 followed by abc to give 4.
then a quite rapid but small 1/2 to start the 5th around the 100 area.
leg 3 at 132 with another abc to 4
and then 5 of 5 up to the high this morning.
so we have an extended 5th.

(sharp rises can lead to sharp falls ? but not necessarily so !)

but as we gapped thru' the fib at 176 it may now provide a floor
for high consolidation.

try that and let me know what you think.
may be best to print a chart and mark the waves ?

 

[mully]

Bonsai, Barjon

I presume it is a case of fill the gap first on the FTSE this morning?

 

[bonsai]

I am short if that's what you are asking!

lol

but tight stop at the high.

 

[mully]

Bonsai,
Just some idle thought re your EW count from the June peak of an a, b and possible completed c. If I am correct wave a lasted 9 days, wave b =55 days and c =9 days again.
That would make wave b out of all proportion to the other 2.
And anyway Wave 2 in March was only 6 days!!

Your valued comment would be appreciated.

 

[hungrybear]

Bonsai,

The problem I have with that count is that wave 4 overlaps wave 1, almost breaking through the start of wave 2, which isn't allowed, hence my thought that it could be the A-wave of a big ABC.

An alternative count I've noticed is wave 3 in the first wave being the gap up yesterday morning, then a tiny wave 4, so wave 1 completes at 4122. That would then allow for an expanded wave 3 up to the high this morning, so we'd be in a wave 4 now, probably to fill the gap, then wave 5 up this afternoon.

 

[bonsai]

fair comment mully
I can't defend my 'proposition' with any impirical evidence or justification.

it's all judgemental.

 

[bonsai]

Hb
wouldnt want to discount anybody's wave count. The proof of the pudding etc......

but the wave 4 overlap is allowed inside a wedge.

and also, I interpret the rule to only apply to 'perfect' markets.

I dont think Ftse qualifies.
It's still largely a 'gentlemens club' although it is slowly getting better.

 

[barjon]

bonsai,

hope you didn't miss my 9:21 post while you were busy
replying to hb.

not prompting a reply - my ew ramblings can be safely
ignored!!! - but didn't want you to miss the thanks for
the trouble you took over over your explanatory post
last night.

 

[neil]

I see the FTSE has flatlined on one price since 11.30am..4206/7.

Is that correct or is my "Mytrack" feed up the chute?

 

[mully]

Neil


it is not yet 11.00 am !!!!

 

[bonsai]

barjon
yes, I did miss it.
the system threw me a new page and yours was last on the old page.

anyway, yes, C can finish higher than A. Its not normal but
will sometimes happen in a bullish expanded flat correction.

and B can finish higher than A, also in the same formation.
I would now like to say read page 38

 

[neil]

Mully

Sorry- clock set on puter ahead ( German)

Doh !!

 

[mully]

Nice equilateral triangle on FTSE cash approaching its apex. Decision time very soon. Of course move can be either way. I'm hopeful its a continuation of last night's move (ie triangle is a wave 4)

 

[bonsai]

neil
it wants to keep us all guessing and make it expensive if we are wrong.

but ftse likes to fill its gaps. so a drift down may happen thru 1.30 ?
or some bright spark with lots of dosh may try a 'speculative' run up to a new high. That would make it even more expensive for us if he is wrong !

I prefer the drift at the moment.

 

[Mr Peter]

I am looking for the EOD at about 140 or lower - nice corrective to yesterdays run-up. Heres hoping

 

[bonsai]

if we had a heading message every time we accessed this thread, we could have a running news ticker.
what do you think ?



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[neil]

Thanks for answering my query Bonsai

 

[mully]

Bonsai

Like the idea, but could you slow it down a bit as it appears slighty hypnotic

 

[bonsai]

mully, are you asleep yet ?

go and give this thread a vote !

when you wake up, youwill not remember this.

lol

now down one notch.

 

[jonnyy40]

Is this worth the boredom????????????????????????????????????????????