Ftse100: Bull/bear(2)

[barjon]

Hi y'all,

🙁 only 20 of you were prepared to give a bull or bear label last week.

:idea: so this week I'll ask the same question but in the form of a chart analysis exercise.

First, call up your weekly candlestick or bar chart of the FTSE100.

ok - your mission, should you choose to accept it, is to bring your whole armoury of techniques and skills to bear on the shape of next week's candlestick/bar and vote as to whether you think the close of that (next week's) bar will be higher or lower than this week's. I've also included a fence sitters answer. You are encouraged to post your reasoning, but a simple vote will complete your mission.

good trading

jon

ps. I am trying to attach my weekly chart but failing 🙁 miserably. Can someone remind me how, or point me to the thread that explains it. Ta.

pps. I'll post my own reasoning after 20 votes (not that my opinion counts for any more than others, but merely to encourage voting!!)

 

[Skimbleshanks]

Here's Bonsai's thread which tells you how to post a chart:
http://www.trade2win.co.uk/boards/showthread.php?s=&threadid=5663

 

[barjon]

Skim,

Thanks but I'm no further forward. Can't seem to save my Sharescope charts as pictures - just says format not recognised - tried to attach as a doc but just gummed up the works so deleted it! I expect a five year old could manage it - just have to make do without a picture.

jon

 

[bonsai]

barjon
to save sharescope as pics, you need to take a screen image.

make sharescope the active window and
then hit Alt and Pt Screen at the same time.
that puts a pic in the clipboard.
now open Paint and edit/paste.
and save (probably as a .bmp but better as a gif or jpg)

now you can browse from here and put it in a post.

but I reccommend you download a converter to make it smaller.
if it is a bmp.

 

[FTSE Beater]

Hi Barjon

I accept the mission 🙂

Here's the weekly chart for those who want to look at it

However I'm going to cheat and use the daily candles 😈

I would say it'll stay between 4100 & 4000 so I'm going for stay the same 🙂

Barjon - Here's the details on how to post a chart. Hope it helps http://www.trade2win.co.uk/boards/showthread.php?s=&threadid=4624&highlight=Posting

 

[barjon]

Thanks FTSEBeater and Bonsai - I'll try next time!

20 votes doesn't seem likely so I'll put in twopennyworth
anyway.

Overall: all seems delicately poised at the moment
sitting between 4085 resistance (Fib50% retracement of
18/6 to 1/7 downward move) and 4020 support (Fib50%
retracement of the 1/7 to 8/7 upward move). A solid move
- at least 2 closes - beyond these levels should be
significant and give these possibilities:

a. closes above 4085. There has been strong short term
resistance at this level so I would expect a quick rise to
retest 18/6 high at 4218 and then minor resistance at
4225 and then (maybe) more solid resistance at around
4415.

b. closes below 4020. Not strong support here but
would expect a test of 4000. Failure of this support
to hold opens the possibility of the neckline (through
lows at 21/5 and 1/7) of a tenuous* h&s pattern
being breached. The measurement would take us
to 3750.

* very indistinct left shoulder.

Next week: Torn between staying the same and a
rise since uptrend is still just about in place. Will go
for a rise.

As ever the market will tell us - just a bit of fun!!

Good trading

jon