FTSE 100 - March

[Finirama]

Anybody came across these Fib techniques?? Some more to add to the toolbox.

http://www.tradingday.com/c/tatuto/fivefibonaccitricks.html

The morning gap technique marked an intraday reversal point pretty much bag on the head at 4,536

 

[Trading Shed]

Johnny - closed my short too. waiting for development with DJ

 

[Finirama]

Short at 4,550..i think thats the end of a 5 wave up

 

[Trading Shed]

I have joined you at 4548, Fini

 

[Trading Shed]

DJ looks like still in a downtrend

 

[Finirama]

5 min chart....

Using Fib technique on the opening gap u c that it retraced 50%, bounced of the 100ema and bottom wedge trend line marking a short for me....closed out at 4,529 when accumulation started to pick up around 2pm which also marking the end of the adam-eves bottom formation.

Pull back at 4,536 marked the handle of C&H formation which hit target of 4,545 on increased volume.

 

[Hooya]

would have been better to buy at 20 and hold all day???

 

[Finirama]

Totally!!!

 

[Hooya]

thats the difference between FTSE and Dow imo...they opperate on completely different scales imo. We have had a tough couple of trading days but really do think the FTSE should have a spread of 1 and we should be able to trade 0.5 of a point

 

[jonnyy40]

Just replaced a part of the central heating system.Come back and most of the action (dax) has finished,got 9.5.

 

[Trading Shed]

Good mornig. I have both FTSE and DJ hovering above their 38 fib lines (6 monts chart). Is it time now to try to catch the knife? perhaps on both?

 

[Trading Shed]

ohhps, perhaps not! FTSE on 50% fib on 6 months cahrt

 

[mully]

The low of 4477 is being tested now. If this is a 4th wave then this level should provide valid support. Interestingly, one can count 5 wave decline on the US indices. (So a bounce may be in order over there). Otherwise the peak of wave 1 (4437) is the next area of support.

The February run from 4357 to 4566=209 points.

This gives fibs of:

38% = 4486 already breached
50% =4462
62% =4437

 

[mully]

FTSE100 chart

Forgot to label chart.

 

[mully]

50% fib now in play

 

[Trading Shed]

I have MACD bullish divergence on the 1 min., confirmed a rising MACD on 5min and 15 min.

 

[mully]

FTSE250

Looking at my favoured FTSE250 it appears to suggest that the run from February could have actually completed. Those with very good eyesight may be able to make out 5 waves, with a further breakdown into 5 minor waves over the last 10 days.

Certainly, cyclical stocks have been weak for the last three days.

 

[jonnyy40]

Wrong thread I know but does anyone have thoughts on ten dow stocks to trade to give as close as possible to a neutral position overall?

 

[Finirama]

Mully,

This can't be a wave 4....its taken out wave 4 of a minor degree.

Also, u'r wave 1 is a three wave up...so must be a correction??? I've got marked as X

As i posted last week.. the diagonal triangle is found in either wave 4... or wave B. This has just confirmed to me that the triangle marked the end of a double correction with this being the start of a larger wave C...imho

Got support on the S&P around 1,110 so should help us bounce up.

 

[Finirama]

Trading Shed,

Have u closed u'r short?? If so, wot price did u get?