swingin' the ftse: 2008

[tomorton]

Messy pattern but, having breached high of 28/11, today makes a putative swing high.

 

[tomorton]

Another putative swing high, still a wide range for stop, but not as bad as yesterday. And well below 04/11.

 

[tomorton]

Inside day today still leaves 09/12 as putative swing high. Today was also an ID/NR4, offering a good entry either long or short. You could also regard it as a pullback towards the 14MA, which is niocely positive just now, agan offering a long entry. I think I will wait until nearer the US close and then enter some approriate orders.

 

[tomorton]

We have breached low of swing high (still putative only) 11/12 so am short already - aggressive entry perhaps but small position. Hoping to add to this on further price weakness today.

 

[barjon]

mmm, well the swing trend is still up, but with that steep almost 100% retracement (hat's off to anyone who took the long signal at around 3950) we need to see minor confirmation by getting through 4430 and then final confirmation past 4640.

In the meantime DOW put on around 150 points after Friday's FTSE close so we should see FTSE opening strong on Monday assuming a quiet week-end.

good trading

jon

 

[tomorton]

I agree Jon, the US TA says we're going up. The interesting issue for us SB traders is that the SB FTSE quote has already risen 85pts. This equates to about 170 Dow points up already, so there is plenty of scope for a fall in SB quotes towards and across the open. I am interested in early trade reversals as you might remember and these have been offering steady returns recently. I have no longer-term or swing entries planned for Monday but an intra-day early range reversal is quite probable again: it worked fairly well on Friday as a short, but the strength of the US market arrested progress before I reached my profit target.

 

[Interceptor]

Anybody else notice today's low?
Loving it!

 

[Chelski]

Ftse

Anybody else notice today's low?
Loving it!

Two nice moves here, Bearish Divergene at the day high and then the bottom called with Hidden Divergence, also around .618 Fib level for the days low to high.

 

[Donkers]

Thanks, Jon. I've now managed to read through the two threads and am looking forward to the next few weeks and beyond. Could be a very interesting 2009, when this approach could be even more interesting, don't you think?

Looks like the footsie is still trading sideways, though maybe still up technically according to our definition here.

I wonder if it's going to take off in the next few weeks, or move sideways for ages? Something huge could happen, I think, and many people make lots of loot.

One way or another, the 2009 follow-on thread (hope there is one) could be as interesting as this one.

Bit premature, but thanks to all for a very good thread, and all the very best for next year. 😀

 

[barjon]

Yes, you can't really take much notice of what FTSE's been upto over the last couple of weeks - the real trading begins again next week (5 Jan).

I was in two minds about continuing with a 2009 thread since we've been running it for two years now and the approach must be fairly well established in peoples' minds by now 🙂. There are, of course, several ways of trading the approach depending on each individuals risk tolerance and it may be worth exploring those in more detail. Perhaps we could follow the progress of three traders - Bold Billy, Sound Sam and Cautious Clarence - to see how they might get on, or something like that.

What do others think?

In the meantime, I hope every one is having a great break and may your trading accounts swell to bursting in 2009.

good trading :cheers:

jon

 

[tomorton]

Season's greetings Jon.

I have been looking forward to seeing the 2009 thread emerge - I hope people will find it useful, informative, encouraging, amusing and thought-provoking - all of which adjectives I would apply to the 2008 thread.

I hope others will come in here and agree and if you will kick us off we can all have another interesting and hopefully rewarding year.

 

[PokerBrat]

I would like to see a 2009 thread, as I am new to this forum and although I can read through the thread, there is nothing like watching things develop in real time.

 

[Donkers]

Great stuff - I've just noticed that there's a new thread for 2009! Thanks, Barjon! :clap:

http://www.trade2win.com/boards/uk-indices/49208-swingin-ftse-2009-a.html


Anyone subscribed to this one will hopefully get an e-mail when I post this, alerting them to the new thread.. all the very best for 2009 all!