Cheers Fluke,
This is what i'm working with just now, got the 30 min chart on the left, got 2 pk positive divergence on the 30 with the second peak on lower vol....confirmation of selling drying up? If we push through up open then pullback target would be 380.
On the downside, 3rd time bounce of trendline with divergence or a break off trendline for retest of low of 324.
Alliance,
Are you still short??
This is what i'm working with just now, got the 30 min chart on the left, got 2 pk positive divergence on the 30 with the second peak on lower vol....confirmation of selling drying up? If we push through up open then pullback target would be 380.
On the downside, 3rd time bounce of trendline with divergence or a break off trendline for retest of low of 324.
Alliance,
Are you still short??
Attachments
alliance
Well-known member
- Messages
- 300
- Likes
- 0
Finirama said:
Afternoon all! Had 2go out 4 a cpl of hrs yesterday,so closed 1/2 my short @ 54 for +30 and was congratulating myself by 9pm but kicking myself 2day! Still, a profit isn't a profit til it's banked!!! I do still think it will go lower (failed to break Fri' high, and broke y'days low) so letting other half run...for now. Busy rest of day, but will check when I can! Did u go long today Fin?
alliance
Well-known member
- Messages
- 300
- Likes
- 0
Finirama said:
US Trade Balance figs due @ 1.30 tho may affect forex more than indices! Also Intel Corp, Johnson & Johnson, Merrill Lynch reporting among others..Intel is the biggie and I think is after hours. Results thot to be good, but it seems good = bad these days as far as Indices go
alliance
Well-known member
- Messages
- 300
- Likes
- 0
bracke said:
Hi Bracke:
We knew that if we all stayed quiet...we would tempt u from ur "lurk"
wb I closed my short in full last nt @ 436, and fool that I am.... despite my prior certainty that it would go down to 420's ... I went long duh! Was obviously regretting it this AM when I seen it had continued it's slideeeeee, but am now back to my open and pondering! Who knows. I might get away with it :cheesy:
Would be interested to hear thots from u Bracke and others that use various TA's?
Are u still long Bracke?
Hi Guys, An excellent thread !
Any ideas for the FTSE100..It has definitely breached the support channel level 4'425, which was also a support level indicated by the 200SMA..Seems to have come close to the strong Support Level 4'300 , currently trading on 4'328. I am looking for it to reverse and go long on this one, perhaps it might go further down and hit the previous support level and reverse back which is a good sign, also the MACD shows oversold conditions, however cross-over not occured yet, Williams % is also showing a good sign to go long... Waiting for the MACD cross-over to enter long may be a good idea.. Happy Trading !
Ps: Currently I also see a little support at 4,323 (Last Low formed on Tuesday Last Week)
Any ideas for the FTSE100..It has definitely breached the support channel level 4'425, which was also a support level indicated by the 200SMA..Seems to have come close to the strong Support Level 4'300 , currently trading on 4'328. I am looking for it to reverse and go long on this one, perhaps it might go further down and hit the previous support level and reverse back which is a good sign, also the MACD shows oversold conditions, however cross-over not occured yet, Williams % is also showing a good sign to go long... Waiting for the MACD cross-over to enter long may be a good idea.. Happy Trading !
Ps: Currently I also see a little support at 4,323 (Last Low formed on Tuesday Last Week)
Sorry,
Got up at the time of the retest so had to gather my thoughts and busy concentrating on wots happening and checking the S&P.
Closed overnite short S&P trade from 115.2 at 108.4
This is what i'm working with.
On the left is the ten min chart....3 pk positive divergence marking the first retest. Divergence suggesting not going to move further down....at least not yet, so took a long and doubled up on the 2nd retest of the bottom. On the right is the day chart..2 pk divergence confirming the turn up.
Only concern is the decreasing volume on the move up from 23 suggesting weakness. So watchin volumes on the down moves carefully.
Fin
Got up at the time of the retest so had to gather my thoughts and busy concentrating on wots happening and checking the S&P.
Closed overnite short S&P trade from 115.2 at 108.4
This is what i'm working with.
On the left is the ten min chart....3 pk positive divergence marking the first retest. Divergence suggesting not going to move further down....at least not yet, so took a long and doubled up on the 2nd retest of the bottom. On the right is the day chart..2 pk divergence confirming the turn up.
Only concern is the decreasing volume on the move up from 23 suggesting weakness. So watchin volumes on the down moves carefully.
Fin
Attachments
However, looking at the long run..I find that if the FTSE breaks the support at 4,300 it is going to have a good fall ! and that is going to be my last hope of staying long and would reverse, ofcourse I have set my stops just under...On the other hand like I pointed out earlier it has broken the 200 MA after a long period of time which could mean trouble....any ideas would be greatly appreaciated ?
However, looking at the long run..a bearish flag was seen followed by a down fall..in my oppinion if the FTSE breaks the support at 4,300 it is going to have a good fall ! and that is going to be my last hope of staying long and would reverse, ofcourse I have set my stops just under...On the other hand like I pointed out earlier it has broken the 200 MA after a long period of time which could mean trouble....any ideas would be greatly appreaciated ? Anyone currently long or short on the Sep contract ?
Good Afternoon alliance
Lurking, me ! I'll have you know I'm a Veteran Member now (500 posts - quantity not quality).
Easy to change mind with hindsight but if the Intel figures had been good you would have bemoaned not closing. So all in all a good trade. ( grinds teeth in envy )
You will probably get away with your long by the looks of things. ( further grinding )
I still regard myself as a novice so I am not in a position to be firm about TA but I have generally come to the conclusion that for me support/resistance, volume (if I can eventually interpret it) and moving averages hold the most attraction. I cannot get enthusiastic about waves, fibonacci, rsi and similar but I emphasise thats me, I appreciate others do well with them.
My long was stopped out this morning, a poor trade and one that has taught me a lesson (anyone reading this may want to look back to 30/6 when I placed the trade and have a laugh ( quietly please ) at my expense, Oh calamity. ( floods of tears )
Regards
bracke
"Hi Bracke:
We knew that if we all stayed quiet...we would tempt u from ur "lurk" wb
I closed my short in full last nt @ 436, and fool that I am.... despite my prior certainty that it would go down to 420's ... I went long duh! Was obviously regretting it this AM when I seen it had continued it's slideeeeee, but am now back to my open and pondering! Who knows. I might get away with it
Would be interested to hear thots from u Bracke and others that use various TA's?
Are u still long Bracke?"
Lurking, me ! I'll have you know I'm a Veteran Member now (500 posts - quantity not quality).
Easy to change mind with hindsight but if the Intel figures had been good you would have bemoaned not closing. So all in all a good trade. ( grinds teeth in envy )
You will probably get away with your long by the looks of things. ( further grinding )
I still regard myself as a novice so I am not in a position to be firm about TA but I have generally come to the conclusion that for me support/resistance, volume (if I can eventually interpret it) and moving averages hold the most attraction. I cannot get enthusiastic about waves, fibonacci, rsi and similar but I emphasise thats me, I appreciate others do well with them.
My long was stopped out this morning, a poor trade and one that has taught me a lesson (anyone reading this may want to look back to 30/6 when I placed the trade and have a laugh ( quietly please ) at my expense, Oh calamity. ( floods of tears )
Regards
bracke
"Hi Bracke:
We knew that if we all stayed quiet...we would tempt u from ur "lurk" wb
I closed my short in full last nt @ 436, and fool that I am.... despite my prior certainty that it would go down to 420's ... I went long duh! Was obviously regretting it this AM when I seen it had continued it's slideeeeee, but am now back to my open and pondering! Who knows. I might get away with it
Would be interested to hear thots from u Bracke and others that use various TA's?
Are u still long Bracke?"
peterpr
Established member
- Messages
- 609
- Likes
- 7
bracke said:
I left a short - net at 4365 - open from last Thursday morning and went away for a few days with a very long stop on. Bearish view thoroughly vidicated although I covered too early this am.
It depends upon your time-frame. Over the next week or so I expect fairly minor intra-day rallies with maybe a couple of reasonably positive days offering worthwhile v quick long opportunities. Can't get away from the view that what we have been experiencing over the past couple of months has been a distribution top though, with the market heading considerably lower over the next 2-4 weeks. The analysis I read from the US (with the very odd credible exception) continues to be uniformly scary. It does not seem to me that there is any mood for a soar-away resumption of bullish sentiment in the forseeable future.
I guess I'm a right old Jeremiah.
Similar threads
