Message For Ftse Traders......

[wallstreet1928]

Wallstreet, Nice Channel forming here. Also re your kneck tie, second chart has Dragonfly Doji on .5 fib level from yesterdays range, add in Hidden Bullish Divergence, Good for the long trade.
As i type we are retesting the channel! Take those points when they are there!

chart on right- i don't understand what you are showing me. red line I assume is MA, but which one...20,30,40!!

chart on left - you must draw line properly my friend, touching the top of the candlesticks!!

 

[tennisball]

I'm reversing my opinion. At least, for the present.

1006 Buy 3599.

I'm still sitting short 3600 - I was expecting a continuation of the morning downdrift, but I dont like it much now. I'll stick with it though as I'm trying to break the habit of cutting trades early. Worst case loss: £1.75

 

[wallstreet1928]

Its great having the interent - I can goof around while the market is lying on its back in a coma

its is the power of the 200 MA that is keeping it afloat.............

if that breaks then 3550 here we come!!

 

[RennieAMR]

Morning all. It's a late start for me today. Holding my SPX short from yesterday. Short FTSE Futures from 3588, stop now 35 90. We'll see.

 

[RennieAMR]

Sir William states that we are in the 4th Wave of the Elliot wave theory and we could get some more upside....

I will dive back in when there is another opportunity!!

Hey WS, check out the evil speculator - one nefarious trade at a time

I'm a bit iffy on EW due to the multiplicity of counts available but this guy is good. You can go back through his posts and see how he's developed.

Going to b/e on the FTSE short.

 

[tennisball]

I'm still sitting short 3600 - I was expecting a continuation of the morning downdrift, but I dont like it much now. I'll stick with it though as I'm trying to break the habit of cutting trades early. Worst case loss: £1.75

Bought back at a profit on the downtend. Did I wait for my limit? Did I have the dicipline? No and lost 2 ticks due to twitchy cowardice. There s a lot of resistance down here. s&p on 700 is holding things up quite a bit, should be a big downmove if that goes.

 

[wallstreet1928]

Caution alert...............200 MA given utmost respect!!

be careful with any shorts..........

long FTSE 3582...stop loss 3552 ...target 3620 and above

long barclays 78.5...stop loss 73!! target 85

long Rio tinto 1746...stop loss 1710!! target 1800

happy trading guys

 

[solentsurfer]

its is the power of the 200 MA that is keeping it afloat.............

if that breaks then 3550 here we come!!

When you say 200MA is holding it up, what chart timescale are you using, 1m, 10m ?

Thanks

 

[tennisball]

Caution alert...............200 MA given utmost respect!!

be careful with any shorts..........

long FTSE 3582...stop loss 3552 ...target 3620 and above

long barclays 78.5...stop loss 73!! target 85

long Rio tinto 1746...stop loss 1710!! target 1800

happy trading guys

Hey WS - just out of curiosity whats the logic behind the Barclays and Rio trades? It's not technical is it?

 

[wallstreet1928]

Bought back at a profit on the downtend. Did I wait for my limit? Did I have the dicipline? No and lost 2 ticks due to twitchy cowardice. There s a lot of resistance down here. s&p on 700 is holding things up quite a bit, should be a big downmove if that goes.

I have done some analysis

S&p is going nowhere except upwards.....mark my words!!

it will fall below 700 to catch the rookies just like 3610 was taken out on FTSE......

I shall rest on my laurels..........

if it fails get the tomatoes ready and waiting............

please do your own analysis and trade at your own risk.......

 

[tennisball]

Dax is heading into a funnel, s&p on 700, ftse on resistance. Could be a busy afternoon!

 

[Splitlink]

I have done some analysis

S&p is going nowhere except upwards.....mark my words!!

it will fall below 700 to catch the rookies just like 3610 was taken out on FTSE......

I shall rest on my laurels..........

if it fails get the tomatoes ready and waiting............

please do your win analysis and trade at your own risk.......

I've had a dismal morning. I should have stayed in my short trade. At least, until now.

I got it completely wrong

Split

 

[Splitlink]

your analysis as always makes convincing case, BUT im going to disagree with on this one, WS. have gone with my conviction and am short 3610.. and counting..

You were right. I though we had a bottom and paid the price!

 

[RennieAMR]

Bids have just disappeared

Support for the FTSE at yesterday's low????

 

[wallstreet1928]

Hey WS - just out of curiosity whats the logic behind the Barclays and Rio trades? It's not technical is it?

yes purely technical............I don't trade on news or whim?

 

[minime69]

sorry for not posting, too many trades.

shorted FTSE @ 3584, 3580, 3579, 3578 bought half back @ 3575 and still running the rest.

stop @ 3554

 

[wallstreet1928]

long S&P 696............stop loss 690!! .......

this is live money trade

 

[minime69]

out @ 3534.5

 

[minime69]

if we have a clear break through 3534 then tgt is 3465ish.

buckle up.

 

[tennisball]

long S&P 696............stop loss 690!! .......

this is live money trade

Thats the spirit WS! I'm long DAX at 3800