kingfisher3210
Junior member
- Messages
- 26
- Likes
- 2
Today great bull run happening..FTSE 100 was in no mood to even close the gap up opening.
Mr Flibble
Well-known member
- Messages
- 371
- Likes
- 20
Is this the confirmation some of you long term investors were looking for? Just feels right despite the DOW breaking down and giving up half its gains it just another opp for me to add.
Last edited:
Yes Split, market's hunting for direction.
Interestingly the S&P made an almost perfect doji last night for those who put stock in such patterns: Open and Close were identical, located at the 40% level on the day's range. A clear sign of an equal tug-of-war between bulls and bears.
Interestingly the S&P made an almost perfect doji last night for those who put stock in such patterns: Open and Close were identical, located at the 40% level on the day's range. A clear sign of an equal tug-of-war between bulls and bears.
Mr Flibble
Well-known member
- Messages
- 371
- Likes
- 20
Well its early was just checking the Australian and Japanese markets for any signs but they're both sitting on their hands. After a huge bull run yesterday you'd expect a pullback of sorts but all I can say is if the market doesn't do what we expect and flatlines for a while then I certainly won't be selling my long position. The DOW was very strong right up until close. New highs were set minutes before the close which indicates the strength of that run.
Best not to have any pre conceived ideas of market direction right now will wait until about an hour or so after the UK open to review my position.
Best not to have any pre conceived ideas of market direction right now will wait until about an hour or so after the UK open to review my position.
I can see that I made a mistake in taking profits this morning. I must not get too carried away with overbought signals! It would have been more profitable to put a stop under my current level and risk that, instead of looking to enter long at a lower level.
I had such a good run and traded overnight for the first time in a very long time that I did not want to risk any of my profit---and simply closed out.
Of course, if it had gone down and then reversed, I would be crowing, wouldn't I? All hindsight, really. Very difficult to plan for the best.
I had such a good run and traded overnight for the first time in a very long time that I did not want to risk any of my profit---and simply closed out.
Of course, if it had gone down and then reversed, I would be crowing, wouldn't I? All hindsight, really. Very difficult to plan for the best.
Last edited:
Today it was not well played at all, I'm afraid, and all because I closed because I was afraid to lose a few points on a stop risk. I'm kicking myself!
My chart is in an uptrend but I have not decided how I am going to get into it, tomorrow.
IMO If anyone shorts it would be against the current trend but, that said, the index could go down over 100 points and still be in an uptrend
If you guys are not following my very simple trend following system.....
You should be!
Overnight bar readings do not seem to influence the trend reading and I have managed on one trade, still open, since 9th.
Correction: it is not MY very simple system. It must have been invented decades ago.
You should be!
Overnight bar readings do not seem to influence the trend reading and I have managed on one trade, still open, since 9th.
Correction: it is not MY very simple system. It must have been invented decades ago.
split
Glad you've finally got into the overnight game
Keep your eye on DOW after ftse hours - you can always hedge with a reverse DOW bet if your position begins to look a bit rocky.
good trading
jon
Thanks, will do.
I've gone into the overnight game, as you call it, because of "getting on a bit". The adrenaline rush of low TF trading is not good for the tubes!
Mr Flibble
Well-known member
- Messages
- 371
- Likes
- 20
I've stop going long on the FTSE and will look to reverse my position probably today. I shorted the DOW just before close but time will tell if it was the right choice. Today will be interesting, Intel posted some pretty amazing Quarterly results. I wonder how the FTSE will respond? Again looking for the FTSE to make the first move and the DOW to follow. Stops are fairly tight but I'm looking to hold a short position over a number of days. If I get blown out today I will keep trying and make small losses to try to catch the next bear run. Thoughts?
Also I'd like to ask some of the more experienced chaps here the following.
If I'm wrong and we go higher than the last high of the 21st June we would have a situation, on a daily chart, of a higher high and a lower low. What does this normally point to?
Also I'd like to ask some of the more experienced chaps here the following.
If I'm wrong and we go higher than the last high of the 21st June we would have a situation, on a daily chart, of a higher high and a lower low. What does this normally point to?
Last edited:
