Thanks Geofract - your chart looks fine. It seems I can edit the prices to correct the chart (I don't know if these changes will be permanent but worth a try). Can you / someone please let me have OHLC values for FTSE100 for -
15/03/05
23/03/05
31/03/05
01/04/05
26/04/05
05/05/05
Everything else looks normal.
Many thanks,
Tom
15/03/05
23/03/05
31/03/05
01/04/05
26/04/05
05/05/05
Everything else looks normal.
Many thanks,
Tom
Hi Geofract -thanks for the FTSE data, I will edit Sharescope price tables later and get rid of those downspikes. I can only suspect the Sharescope download introduced corrupted prices - my FTSE chart never used to look this way - hope they don't do this to me again, I am always telling people what good value their service is!
No trades still open, awaiting next signal to enter either direction. I only trade one of 6 signals but I need a gap and/or a retracement etc. - when the index is in a linear phase with consecutive lower lows and closes and no gaps I have to wait to get back in. No worries about missing anything - as long as there is an index the price will fluctuate and that will give me plenty of entry signals over a year. I usually put signals on here but mine tend to occur earlier than the orthodox Rivalland swing buys/sells, so caution advisable.
LondonTraderUK - I also trade highs and lows but use Rivalland's three-day count to exclude subjectivity (I never try to call the top or bottom of a market any more, its a conjuring trick for salesmen). I also take intervening short-term signals on local highs or lows - usually put the signals on here, preferably in advance. I'm not hung up about numbers on a chart either - heard much talk over the years about the 'psychologically important 5000' or the 'key 6000' or the 'pivotal 10000' levels and its all journalist ******** - the market goes where it needs to go and the units of measurement are irrelevant (in any case, remember, the FTSE did not start at 0). TA off a chart with no key/legend/scale will still work.
No trades still open, awaiting next signal to enter either direction. I only trade one of 6 signals but I need a gap and/or a retracement etc. - when the index is in a linear phase with consecutive lower lows and closes and no gaps I have to wait to get back in. No worries about missing anything - as long as there is an index the price will fluctuate and that will give me plenty of entry signals over a year. I usually put signals on here but mine tend to occur earlier than the orthodox Rivalland swing buys/sells, so caution advisable.
LondonTraderUK - I also trade highs and lows but use Rivalland's three-day count to exclude subjectivity (I never try to call the top or bottom of a market any more, its a conjuring trick for salesmen). I also take intervening short-term signals on local highs or lows - usually put the signals on here, preferably in advance. I'm not hung up about numbers on a chart either - heard much talk over the years about the 'psychologically important 5000' or the 'key 6000' or the 'pivotal 10000' levels and its all journalist ******** - the market goes where it needs to go and the units of measurement are irrelevant (in any case, remember, the FTSE did not start at 0). TA off a chart with no key/legend/scale will still work.
Early thoughts on signals for FTSE on today's action - I am seeing no gap from yesterday's low to today's open so 80-20, Whiplash and 3-day unfilled gap are out. Rivalland swing trade is out as we have not a confirmed swing low yet (and a long on this strategy would be counter-trend anyway).
1. Shuttle 14: if we close above yesterday's close (4313.8) but below 14MA (about 4870 last night), I will place sell order after close. Looks unlikely.
2. Key reversal: if we close above yesterday's high (4512.5) I will buy on the close. Looks even more unlikely.
Its possibly a day for daytraders but that counts me out.
1. Shuttle 14: if we close above yesterday's close (4313.8) but below 14MA (about 4870 last night), I will place sell order after close. Looks unlikely.
2. Key reversal: if we close above yesterday's high (4512.5) I will buy on the close. Looks even more unlikely.
Its possibly a day for daytraders but that counts me out.
barjon
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Hi guys,
Haven't bothered providing a swing update since my experience when the stampede is on (and this has been by far the worst stampede I've ever experienced in 35 years) you might as well chuck away your charts and your TA for a while and just rely on horse sense.
Funnily enough, I made my FTSE points last week exclusively on the long side. FTSE has been a reluctant partner to the DOW's collapse and pretty keen to jump out of the depths when DOW has given the opportunity - it's made for some good points.
DOW was about 8200 at FTSE close on Friday, with DOW off 2596 (2596!!!!!
- be a few miracle workers that will soon be singing "told you so - my system caught it all", if anyone's mug enough to believe them) from previous Friday high point which should have meant FTSE around 3700 not the 3932 it closed at.
DOW was up another 250 at its close (8451) so if the futures reflect that Monday morning then it should give a fillip to FTSE.
good trading
jon
Haven't bothered providing a swing update since my experience when the stampede is on (and this has been by far the worst stampede I've ever experienced in 35 years) you might as well chuck away your charts and your TA for a while and just rely on horse sense.
Funnily enough, I made my FTSE points last week exclusively on the long side. FTSE has been a reluctant partner to the DOW's collapse and pretty keen to jump out of the depths when DOW has given the opportunity - it's made for some good points.
DOW was about 8200 at FTSE close on Friday, with DOW off 2596 (2596!!!!!
- be a few miracle workers that will soon be singing "told you so - my system caught it all", if anyone's mug enough to believe them) from previous Friday high point which should have meant FTSE around 3700 not the 3932 it closed at. DOW was up another 250 at its close (8451) so if the futures reflect that Monday morning then it should give a fillip to FTSE.
good trading
jon
Stampede is right Jon - by my charts, we haven't had a proper swing high since 29/08! I have made good points along the way with intermediate swings, but the market has mostly shut out full swing trades.
I have no signals or orders for Monday so far, waiting to see where we go.
I have no signals or orders for Monday so far, waiting to see where we go.
Bent the rules a little today and came out on top.
Looking at Friday's trading, there was no gap below Thursday's low: if there had been, this would have made a 3-day unfilled gap reversal signal, generating a buy order just above Friday's high, to be triggered as the price climbed into the gap any time over the next 3 sessions. But the actual trading above Thursday's low in the Friday session was trivial - just a few minutes at 8am, and I decided to ignore this. Buy order went in before the open today, was triggered this am but stopped out in the pm. Suspecting the move might still work, I re-entered another buy well up in today's range - this triggered and went well enough for me to close 3/4 the position and raise stop on remainder to guarantee further profit, and this one I hope to run for some time, hoping the US buyers re-appear tomorrow (holiday there today). A happy start to the week.
Looking at Friday's trading, there was no gap below Thursday's low: if there had been, this would have made a 3-day unfilled gap reversal signal, generating a buy order just above Friday's high, to be triggered as the price climbed into the gap any time over the next 3 sessions. But the actual trading above Thursday's low in the Friday session was trivial - just a few minutes at 8am, and I decided to ignore this. Buy order went in before the open today, was triggered this am but stopped out in the pm. Suspecting the move might still work, I re-entered another buy well up in today's range - this triggered and went well enough for me to close 3/4 the position and raise stop on remainder to guarantee further profit, and this one I hope to run for some time, hoping the US buyers re-appear tomorrow (holiday there today). A happy start to the week.
US buyers obviously not on holiday, my mistake.
Late price action suggests we will easily breach high of 10/10 tomorrow, making this a swing low. I have buy order above market's highs of 10/10 and 13/10.
Today's trend day also offers 80-20 short daytrade tomorrow if we trade above the highs but price collapses, and I have sell order well down the day's range as a Shuttle 14 short in the unlikely event of a disastrous collapse overnight or from the open.
Late price action suggests we will easily breach high of 10/10 tomorrow, making this a swing low. I have buy order above market's highs of 10/10 and 13/10.
Today's trend day also offers 80-20 short daytrade tomorrow if we trade above the highs but price collapses, and I have sell order well down the day's range as a Shuttle 14 short in the unlikely event of a disastrous collapse overnight or from the open.
Upward move failed and stopped me out this pm. Today's pattern presents interesting conflicts -
* Inverted hammer is bearish, low close suggests swing upward move already gasping
* Gap below today's low suggests possible good shorting opportunity
* Failure to breach 14MA and reverse downtrend is bearish
I favour the downside here so have sell order below today's low. Just in case the upswing resumes, I have a much smaller buy above today's high - economic newsflow has been unprecedented recently and it would be silly to miss out if something good should happen overnight - like Alistair Darling resigning or suchlike.
* Inverted hammer is bearish, low close suggests swing upward move already gasping
* Gap below today's low suggests possible good shorting opportunity
* Failure to breach 14MA and reverse downtrend is bearish
I favour the downside here so have sell order below today's low. Just in case the upswing resumes, I have a much smaller buy above today's high - economic newsflow has been unprecedented recently and it would be silly to miss out if something good should happen overnight - like Alistair Darling resigning or suchlike.
FTSE fell virtually in a straight line, and closing on the day's low suggests early action tomorrow will be continuation of bear move. For me, the short entry signal was good but it has come and gone, so I am flat at this minute.
The strong bearish move today suggests a possible profitable 80-20 daytrade on a reaction later in tomorrow's session - if we trade below today's low, going long as we recover through the low, but only holding until the close.
There are other possibilities as ever, a personal favourite would be if we gap downwards tomorrow, allowing a long entry as the gap closes over next few days.
Of course, if you're still short, well done, but don't forget to bank at least some profits.
The strong bearish move today suggests a possible profitable 80-20 daytrade on a reaction later in tomorrow's session - if we trade below today's low, going long as we recover through the low, but only holding until the close.
There are other possibilities as ever, a personal favourite would be if we gap downwards tomorrow, allowing a long entry as the gap closes over next few days.
Of course, if you're still short, well done, but don't forget to bank at least some profits.
Nasty peak in the afternoon closed the down-gap from Wednesday. Not wanting a daytade I ignored this move, fortunately, as we subsequently collapsed to the close.
Today was another yin candle, almost an 80-20 day, so there are chances to get long if we have a strong bounce tomorrow, or short if we only recover a little. A persistent gap down would be nice (but also some shorter daily ranges, like we used to have in the good old days, in April and May....).
Today was another yin candle, almost an 80-20 day, so there are chances to get long if we have a strong bounce tomorrow, or short if we only recover a little. A persistent gap down would be nice (but also some shorter daily ranges, like we used to have in the good old days, in April and May....).
