Message For Ftse Traders......

[Bloodhound]

For anyone who's interested we are currently seeing a 'failed retest' of yesterday's lows on the Dow and FTSE. I'm long 3805 looking at a fairly respectable uplift. I'm not going to call an exit yet as I am trading this purely on what I am seeing vie 1H bars. History will prove whether that was a good call or not ;-)

KJ

 

[Bloodhound]

P.S. The 2 major pivot levels of S&r / Fib that I have are 3890 and 3966...

 

[minime69]

Just require Dow to Hold 7200 and footsie to hold 3800 and its party time.
If this comes of the beers are on me for all who is reading this !

how did you get on Tom?

 

[Geofract]

Hi KJ,

Quick 15 min chart for you... it's a bit crazy, but anyway, it shows the major channels I have identified. I hope you can make some sense of it!

The yellow line is the key issue right now. The 2 major red lines show the channel we have been in since the 13th feb. I think we might be retesting the upper edge of that again soon.

I was thinking that we have had 7 down days now without a reasonable retrace, plus it appears a double bottom was formed, as the low of yesterday was re-tested today (as you mentioned). It seems sensible that there is some upside now.

Good luck with that 3805 long. I managed to make +40 points today, vast improvement on yesterday!

p.s. Also, small DB formed at 3790, at around 17.15

 

[Bloodhound]

Hi Ollie,
Thanks for that. This is how I am seeing it... The key today IMO is the failed retest coupled with MD. Price is clearly being rejected below a level.
I think you asked about inside bars yesterday. Have a look at a 2H chart of the Dow. Hopefully this will show what they are / can lead to.



Bye for now
KJ

 

[Bloodhound]

P.S. Look at the 1H chart of the Dow and you will see it broke one way then the other. From what I have read this is a very good sign of the direction of the breakout.
N.B. I am now trying to look at charts bottom down from monthly to hourly. If one had traded this on the 1H chart it would have cost money. Trade it ona higher timeframe and it is looking pretty good at the moment.

 

[vchohan]

3850 is being tested for resistence.
looking to short soon.

 

[Geofract]

Hi Ollie,
Thanks for that. This is how I am seeing it... The key today IMO is the failed retest coupled with MD. Price is clearly being rejected below a level.
I think you asked about inside bars yesterday. Have a look at a 2H chart of the Dow. Hopefully this will show what they are / can lead to.

View attachment 49616

Bye for now
KJ

Thanks for the chart KJ. I need to read that thread about inside bars, to make sure I getting it. I understand them in Swing Trader terms, but it might be different in this case.

Whatch out for 3860, that's the upper edge of the red channel I was talking about.. it could go bounce off there.. equally, it could go straight through... who knows hey!

Looking great for that 3805 long now though!!

 

[Geofract]

I am short at 3856... already moved stop to BE, as I'm not 100% on this... probably will be blown out right away!

 

[Jock Strap]

I am short at 3856... already moved stop to BE, as I'm not 100% on this... probably will be blown out right away!

I went short at 3859.5 - close stop, will see

 

[Bloodhound]

For anyone who's interested we are currently seeing a 'failed retest' of yesterday's lows on the Dow and FTSE. I'm long 3805 looking at a fairly respectable uplift. I'm not going to call an exit yet as I am trading this purely on what I am seeing vie 1H bars. History will prove whether that was a good call or not ;-)

KJ

Stop moved to 3836 to allow for a 50% retracement of the move - should be more than enough headroom to allow it to keep on going if it wants to. Neither Dow nor FTSE have even made their 50% retrace from yesterday (famous last words...)

 

[Jock Strap]

stopped out for -5 pts

 

[Geofract]

I am short at 3856... already moved stop to BE, as I'm not 100% on this... probably will be blown out right away!

I was stopped for BE almost immediately, in case nobody had guessed

Looking good though KJ!

 

[TomTom]

how did you get on Tom?

Dow at 7310 and footsie at 3865 added to an average of 450 per point for 150 pts and now squaring postions to take profits.

Size is a problem now on footsie as SB firms need to widen there spreads....

Still looking goos fowkes

 

[Geofract]

Dow at 7310 and footsie at 3865 added to an average of 450 per point for 150 pts and now squaring postions to take profits.

Size is a problem now on footsie as SB firms need to widen there spreads....

Still looking goos fowkes

You're up 40k today then Tom? Must be something like that? Amazing anyway!!

 

[TomTom]

£450 x 150pts = 67K with the slippage I are looking for 58-60K

Even for thouse who followed my trade with £20x150pts would of come out with £3K

 

[TomTom]

You're up 40k today then Tom? Must be something like that? Amazing anyway!!

Just closed postions for a £52k profit.

Have a great day all, will post more fo my trades through out the week.

Regards

Tom

 

[Geofract]

£450 x 150pts = 67K with the slippage I are looking for 58-60K

Even for thouse who followed my trade with £20x150pts would of come out with £3K

Nice, you won't have to do this for another week or so then! Well done

 

[TomTom]

Nice, you won't have to do this for another week or so then! Well done

I trade two to three time's a week, will be trading Thursday or Friday will not know untill Thursday morning though.

I will show you all how I do things for real very soon.

Keep safe

Tom

 

[Bloodhound]

Stop moved to 3836 to allow for a 50% retracement of the move - should be more than enough headroom to allow it to keep on going if it wants to. Neither Dow nor FTSE have even made their 50% retrace from yesterday (famous last words...)

Have now ratcheted my stop down to previous bar close at 3860 so 55 points lokced in. Am getting nervous watching the Dow failing to make it through its 50% retracemnt level......