FTSE100 Intraday Trading - September 03

[jonnyy40]

I've got an exit strategy based on 2bars the wrong side of a moving average.(Which I completely ignored just then).But moving averages are definitely the way to go.Plus the fact that I'm a marvellously gifted chart-reader.(Though of course I'm far too modest to say so).

 

[bonsai]

from your earlier post, I gather you may have taken a knock or two or three.

always a bad feeling but as long as you have your pot......
(your money pot, that is )

 

[jonnyy40]

I lost a bit on the ES yesterday.I joined the party late and with a sore-throat/head-ache.The head-ache's gone so I'm giving it another chance today.

 

[bonsai]

hope you guys are into this
now at third fib at 66

 

[2468steve]

Looks like Dax expiry had effect,pulling everything lower.

cheers

 

[jonnyy40]

Is the Liffe feed dead.Just got back and it's stuck on 4296 (here). EXPIRY!!!!!!!!!!!!!?????????????.

 

[bonsai]

all ok here

but you may need to switch to dec futures ?

 

[jonnyy40]

Yes,I wrote that without really paying attention to the post above it.I left it as I thought it was funny.I'm still not feeling great but after the weekend it should be all systems go.

 

[bonsai]

well I dont know what you are all doing but if you have been following myapproach, you will have made a lot of money today.

so I hope you have

every friday should be like this !

 

[bonsai]

some time since I poted a chart and as today was a classic
here goes.
just follow the 1 hr and the macd to see what I mean
I have also put up an elliott wave count which looks a good fit.

 

[bonsai]

today gives food for thought ?

we could be seeing a 5th wave extension.
that would be the 'optimistic scenario'

 

[jonnyy40]

I think it's a bounce from here.

 

[bonsai]

'tis now ?

for a while anyway.

 

[bonsai]

looks like a 5th wave extension in progress.

but it may want to deal with the opening gap first
before falling again.

edit
something like this ?
<img src="http://web.onetel.net.uk/~gawgaw/bigc.gif">

 

[bonsai]

something to watch over your corn flakes.

<img width ="600" height="400" src="http://money.cnn.com/markets/morning_call/globex.png">

 

[bonsai]

overnight at 27
closed at 47 +20

may have been the best trade of the day.

 

[Mr Peter]

Bonsai - FTSE opened to 50 - is this competion of w4? Would you suggest now back to 200 and then bounce to 50 again?
Mr Peter

 

[JeanM]

Bonsai

I also bought at 27 sold at 45. So busy feeling pleased with myself that I missed the sell which would have been 30 odd!!!

 

[bonsai]

peter
dont know
on my chart, it failed to fill the gap.
so it could try again but that really is just a guess.

and too soon,imo to pick depth of move down.

 

[bonsai]

Jean
well done

I didnt take the sell either.
couldnt find any chart reason to suppose it would happen.