Message For Ftse Traders......

[Dentalfloss]

anybody think 3950 and 400 will get taken out tomorrow..??
if so what are youre reasons

 

[Bloodhound]

anybody think 3950 and 400 will get taken out tomorrow..??
if so what are youre reasons

I think you might be right but my only reason for saying that is that the Dax just doesn't seem to want to go below 4000.....

 

[Dentalfloss]

dax..never broken the major support as yet

 

[Bloodhound]

If the Dax holds I think we'll be seeing strong resistance on the FTSE at 4040 (or thereabouts)

 

[Geofract]

anybody think 3950 and 400 will get taken out tomorrow..??
if so what are youre reasons

I wish I could could come up with a sensible reason for the price to break 4000... But given the crazy price action of late, it could just do that

However, I think we might see 3975 as the top tommorow. This being a 68.2 retrace of the last 2 days, and I also have 3975 as key resistance (but then 3940 could prove to be solid resitance). If 3975 broke to the upside, I would look for a top of 4046 (100% retracement), and another key resistance level.

Anyway, I'm working on the basis of expecting the unexpected.

Just my 2 pennies worth, and I'm sure I'll be duly proved wrong come tommorow

 

[minime69]

morning all

 

[wallstreet1928]

I think the strategy of taking the small gains can work well as long as you also have short stops in place too, obviously.

Personally, I do a bit of both. I may take 5-15 point gains but when I think the market is clearly trending, as with FTSE futures last night, I ride the trend but manually trail my stop which gets me out at the first sign of a reversal without taking any major risk once I am comfortably in the black (30 points and above).

I also swing trade a few UK stocks where my signals tell me they are oversold/bought. Has worked great with a number of stocks recently (in general!).

I've only been full time a few months, and hit my weekly target this week despite (or because of?) the market turbulence, so I'm happy. I definitely don't miss the 9-5 toil!

I also think in the next few weeks, a longer term long position may be a good call, any thoughts?

morning minime & the rest of the guys............

I have already made 40 points on the DAX from a position i opened last night

4000 is a rock on the DAX and it will take a hammer and chisel to break it

I have thought about not trading again this week and i have decided that i will trade but not as often, only 1-2 trades a day

I went long on gold last night as it was showing resilience at being above 990, long @ 995 stop loss 990......stop loss was triggered!! i am no good at trading gold

 

[wallstreet1928]

I will be looking to sell the DAX @ 4120 ........stop loss 4150!! below 4100 .....20-30 point scalp

reason =

downward sloping channel/trend line resistance, also resistance at 50 EMA and market come up too far too fast without a breather ......a nice 20-30 point pullback needs to happen in order for it to continue march higher or market could reverse and go lower ....

I for forgot to mention also guys that there is R1 pivot at 4116........

multiple levels of resistance guys, its going to take at least 2-3 attempts to push though there as we all know the market very rarely pushes through a resistance level on first attempt

 

[wallstreet1928]

I will be looking to sell the DAX @ 4120 ........stop loss 4150!! below 4100 .....20-30 point scalp

reason =

downward sloping channel/trend line resistance, also resistance at 50 EMA and market come up too far too fast without a breather ......a nice 20-30 point pullback needs to happen in order for it to continue march higher or market could reverse and go lower ....

I for forgot to mention also guys that there is R1 pivot at 4116........

multiple levels of resistance guys, its going to take at least 2-3 attempts to push though there as we all know the market very rarely pushes through a resistance level on first attempt

4100 level was my trend line resistance but I honestly thought we were going to push higher as the banks are on fire this morning ...........

I will still be looking to short at or around 4120........

 

[wallstreet1928]

yes I concur with your analysis but we must always buy on analysis rather than our thought process.

One can never succeed in attempting to catch the bottom of the market so if you are attempting to catch the bottom then start to buy in increments in the next few weeks...

I for one certainly will be looking for nice oversold pull back........wether its a long term rally or not I don't really care as I will be looking for few points

S&P around 740 - 750 ....looking at 20-30 points
FTSE 3500 region - looking at 400 - 500 points
DAX - I will start accumulating now anything below 4000 level
DOW- I will not go near it as it has a mind of its own, Artifical intelligence!! haha

this was my view on saturday guys

I am now shorting the S&P heavily again ...........around the 785- 800 region with stop loss 820!!

 

[wallstreet1928]

off to sleep to get a quick cat nap before I start work at 9am....

 

[fast trader7]

Hello,
Good morning,the market looks very strong,the news of citigroup and car industry also helping market. Missed the DAX gain, went to meet my friend in Brighton, gutted.
But i guess you must have a life outside trading!!
Happy trading

 

[vchohan]

Morning Wallstreet, Minime and fast_trader.

Went long on the FTSE100 this morning at 3950.
Resistence will prob kick in at 3975 if not i hope it breaks to 4040.

Goodluck guys!

Viks

 

[Bloodhound]

Good morning everyone!!

 

[Jock Strap]

Good morning all.

Been taking some profits on some stock trades from Friday, so haven't been trading the indices so far.

Just went long at 3930, stop at 3910. Only looking for 20-30.

 

[vchohan]

Got stopped out for 5point loss.
Was contemplating a short at 3950 but didn't take it. Think we may have support at 3930 or 3920
Support level so far seems at 3962.

 

[wallstreet1928]

Good morning all.

Been taking some profits on some stock trades from Friday, so haven't been trading the indices so far.

Just went long at 3930, stop at 3910. Only looking for 20-30.

any analysis on Rio tinto!!

 

[wallstreet1928]

off to sleep to get a quick cat nap before I start work at 9am....

that was nice peaceful sleep...Zzzzzzzzz........

 

[Jock Strap]

Got stopped out for 5point loss.
Was contemplating a short at 3950 but didn't take it. Think we may have support at 3930 or 3920
Support level so far seems at 3962.

I concur with support at 3930, hence my long. Agree also that resistance is potentially in the 3960 area, and will trail my stop if it gets close.

 

[Jock Strap]

any analysis on Rio tinto!!

I had XTA and BARC (bottled on RBS, doh!)