Message For Ftse Traders......

split.i think you are right to short.howver,the price has had a habit in the last week ,bouncing from 4100 area
francisfinley: please give us the reasoning on youre trades...thanks
 
jameshj: i undrstand youre reasoning that it could be a head and shoulders on the hourly chart.to me,it is just trendless chop.the market reacting to news items.this is my opinion only
 
the dow is also showing the same characteristics.it is bouncing off the 7900 support area.been doing that for longer than the ftse
hourly data.40 point box size.3 reversal .hilo data
the index is trying to digest president obama"s policies
 

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Hi,
I'm a returnee to these boards (and to trading) after some time away.Excuse any ristiness :)

Dentist, I have support at the fib retracement at 4148 and resistance at a trend line currently at 4180 from the top of what may be a left shoulder on the hourly chart; if it is a head and shoulders then a break of support sets a target at the recent lows on the daily chart.

I don't use fib data but I agree with you about the potential H&S. In my last post I was wondering about whether it was in a pullback. Whatever it is called---right shoulder, pullback, failed high starting a new trend, or a continuation ---it is the same pattern that we are looking at. Now we have to decide whether it will complete it by breaking the support.

Personally, I think I'm looking at one big "fall" that started in autumn 2007. :(

Split
 
the S & P 500.bouncing off the 800-810 support area in a shapeless fashion
hourly data
 

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strategy for the ftse for the coming week.buy from the 4100 support area,uneless that gets taken out.then short the rallies,uneless 4320 area gets taken out.the only major news item for the uk is the boe interest rate decision.this did not affect markets last time
that strat worked well for me last week.i might be pushing my luck expecting it to go this week
 
split.i think you are right to short.howver,the price has had a habit in the last week ,bouncing from 4100 area
francisfinley: please give us the reasoning on youre trades...thanks


look at my 2 posts on this page here http://www.trade2win.com/boards/uk-indices/49208-swingin-ftse-2009-a-8.html

4120 is the retracement line, if it fails look for 4075, 4000, 3950 - short/medium term.

Alternatively wait for a clear break above 4230 to look for, 4300/4315, 4400/4415 - short/medium term.

my longterm trade is short from 4675, targets 3950, 3650, 3250 because we failed to break 4650/4675. so key areas of s&r 4000/3950 & 4650/4675 within a 3month range of 3650 - 4650.



have a good week everyone.
 
im short 4125 ..........stop loss 4155!! but i may amend stop loss further ........

I anticipate 4050 to be next target!!.....

FTSE position looking in nice profit.......I will take 2 contracts profit @ 4288 and amend stop loss to break even for remaining 1 contract!!

good start to the week
 
nice gap down..........were at an important juncture for all markets

will Dow hold @ 7900.......

Dax hits pivot 1 @ 4270.......

FTSE hits pivot at 4085 ............

tick tock ....tick tock
 
My short is away with a stop at break even already 4095

0909 Bt for 30 points profit at 4064.3.
 
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Morning Guys, thought I'd try joining you on my demo to get a feel for it.

Have gone long at 4062, manual stop at 4055, wanting 4090...

Stephen
 
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