TheBramble
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Unusual US Holiday Correlation with FSTE Action
It occurs to me that with the US markets being closed, some traders who normally trade the US markets might switch to the UK on days such as today when the US markets are closed.
I remember when I used to trade UK that it was usually a lot quieter on non-US days, but that may just be due to false memory.
Anyone have any data correlations on US-holiday days impacts on FTSE index action?
It occurs to me that with the US markets being closed, some traders who normally trade the US markets might switch to the UK on days such as today when the US markets are closed.
I remember when I used to trade UK that it was usually a lot quieter on non-US days, but that may just be due to false memory.
Anyone have any data correlations on US-holiday days impacts on FTSE index action?
So quiet day ahead unless you want to be a contrarian and say everyone says quiet so if something does happen today fireworks will really errupt..................
Ignoring today what are your medium term market expectations?
Despite being a general bear, I'm thinking that the current trading range is going to continue for several weeks/months maybe even over the whole summer period and then finally break out by 200-300 points either way and i currently favour the upside based on corporate news and price action.
Obviously this could be turned on it's head by a major world event but that's my gut feel.
What do the Elliott Wavers think and any other opinions?
Splash
Ignoring today what are your medium term market expectations?
Despite being a general bear, I'm thinking that the current trading range is going to continue for several weeks/months maybe even over the whole summer period and then finally break out by 200-300 points either way and i currently favour the upside based on corporate news and price action.
Obviously this could be turned on it's head by a major world event but that's my gut feel.
What do the Elliott Wavers think and any other opinions?
Splash
mully said:
You don't - you wave your hands and say "lets not take it all too seriously - it's not a science". In this case the time and price projections were spot on for the end of Wave 4 and a good short entry. So after the drop the target had been reached and was a good place to exit.
I think too many people want things to fit into a rule-set that they can follow religiously - the thing is they don't when they start trading 😉
Anyone looked at www.elliottwave.com this week? They have a free week and is good for a look. These folks seem to take life too seriously, "X" waves everywhere. Some of the reports are amusing, sex on TV in Europe is proof the bear market is not over 🙂
Anyway, all I care about Elliott Waves are 5 impulse, 3 correction (but look out for a 5), all this gives you enough of an edge to be on the right side of the most of the time. It's good enough for me.
Hey guys,
Started with my Market Profile tendencies again. Will keep up to date if there is anything of note (thinking of using something called the rotation factor). One thing I am going to do from now on is to make a note if the actual open (or as I see it the extreme of the one minute bar) this is because yahoo gives the open as yesterday's close - this is just plain wrong IMHO. It also means that any backtesting done with yahoo data is not so good. If you look through their data for the FTSE it used not to be this way - there were gaps all over the place - now...nothing.
I'd be interested in hearing what you guys think on the subject
Started with my Market Profile tendencies again. Will keep up to date if there is anything of note (thinking of using something called the rotation factor). One thing I am going to do from now on is to make a note if the actual open (or as I see it the extreme of the one minute bar) this is because yahoo gives the open as yesterday's close - this is just plain wrong IMHO. It also means that any backtesting done with yahoo data is not so good. If you look through their data for the FTSE it used not to be this way - there were gaps all over the place - now...nothing.
I'd be interested in hearing what you guys think on the subject
"this is because yahoo gives the open as yesterday's close - this is just plain wrong IMHO"
oooo dont get me started on that.
but even so their data is crap anyway. I record my own now.
if you do not use the clsoe as the open then you ahve to use the first tic of the day imo. End of 1 min bar will be useless.
oooo dont get me started on that.
but even so their data is crap anyway. I record my own now.
if you do not use the clsoe as the open then you ahve to use the first tic of the day imo. End of 1 min bar will be useless.
did someone mention gaps!
btw ( now I know what it means I can use it now ) I have been waiting for Monday mornings gap to close, it came close enough this morning - I was out and missed it - drat and double drat. So I am stiil short the June ftse at 4509.
What chance of a decline to the close so that I can close the trade.
Regards ( Gap Obsessed)
bracke
btw ( now I know what it means I can use it now ) I have been waiting for Monday mornings gap to close, it came close enough this morning - I was out and missed it - drat and double drat. So I am stiil short the June ftse at 4509.
What chance of a decline to the close so that I can close the trade.
Regards ( Gap Obsessed)
bracke
Another good reason why ftse futures could be better to follow than the cash...consistent exchange data
As mentioned the gaps are clearly identified by the closing price then then the first trade the next day
We all seem to have our own favourites here, me and futures versus cash, bracke and his gaps...........
Closed some of my short at 4465 futures but missed the rest down to greed and having bids in at 63, 61 and 59 which didn't get hit so covered on way up and am flat for weekend
I have feeling we could close unchanged on the day forming a doji and a possible move up next week again but as i'm out for couple of days will leave alone for now.....................
Good weekend all
As mentioned the gaps are clearly identified by the closing price then then the first trade the next day
We all seem to have our own favourites here, me and futures versus cash, bracke and his gaps...........
Closed some of my short at 4465 futures but missed the rest down to greed and having bids in at 63, 61 and 59 which didn't get hit so covered on way up and am flat for weekend
I have feeling we could close unchanged on the day forming a doji and a possible move up next week again but as i'm out for couple of days will leave alone for now.....................
Good weekend all
