Wallstreet1928 Analysis & live calls on FTSE,DAX,S&P...aimed to help New traders

[rezadamus]

I am very impressed with the FTSE resilience.............

4100 and above .........

I may have to contemplate a long

I won't say "I told you so just yet"...I'm just too tired right now to trade

 

[rezadamus]

bought ftse at 4125.8 15 point stop...

 

[dr.blix]

I'm looking for 3 things now 1) ftse to stay above 4105 2) the RSI 14 to move above the 50 divisor line in the 10 min chart, 3) RSI 14 to stay above the 50 line in the 1hour chart...looks like its rising now..but never trust it till you see a CLEAR move

you know your onions mate :smart:

 

[dr.blix]

is it me or is this super choppy? is this now a triple top?

 

[rezadamus]

is it me or is this super choppy? is this now a triple top?

very choppy...4.5 points from getting stopped out, which is a bit annoying

 

[rezadamus]

bought ftse again at 4120.3...15 point stop again...I know my trades see a tad bit erratic but there is a method to my madness (he says :S)

 

[dr.blix]

well 2 bad calls for me now, so that's me out for today's trading.

best of luck everyone for the rest of the day.

 

[rezadamus]

bought ftse again at 4120.3...15 point stop again...I know my trades see a tad bit erratic but there is a method to my madness (he says :S)

moved stop to break even now

 

[wallstreet1928]

Right, its broken through $49, i'm gonna go out on a limb here and say next target $48.00

I am interested in the stop loss you place on your oil trades my friend

I use a 30 - 40 point stop loss ...........??

 

[rezadamus]

moved stop to break even now

closed for 13.3 points profit...

 

[francisfinley]

bought ftse again at 4120.3...15 point stop again...I know my trades see a tad bit erratic but there is a method to my madness (he says :S)

i was going to ask after your amazing haul last week what your method is. is it typically scalping? do you use and indicator or support and resistance or do you buy/sell high/low in tune with what your take on the trend is. or is it really reza's really mad method!

 

[cadoganpier]

closed at 4133 for 12.5 points, got the jitters about it not getting to 4140

 

[rezadamus]

i was going to ask after your amazing haul last week what your method is. is it typically scalping? do you use and indicator or support and resistance or do you buy/sell high/low in tune with what your take on the trend is. or is it really reza's really mad method!

these markets are just too choppy to build any form of long term views, yes I look at key support/resistance levels to confirm moves in any particular direction, at the moment, I am looking at strong trends...at the moment, I am seeing a move downwards in what I perceive as a longer term move upwards, in which case I will be looking to go long soon (ish)

 

[LeoE]

I am interested in the stop loss you place on your oil trades my friend

I use a 30 - 40 point stop loss ...........??

I use a similar stop loss as it can have quite large swings before it moves in your direction, although I'm not trading oil today, just watching and trying to predict its movements. I usually don't trade using price action, S&R so i'm just testing the waters to see how my analysis works out, so far it seems to be working better than my previous strategy using indicators! Time will tell...

 

[lapalabra]

Hey Francis, would you call that an ascending triangle on the 5M - know you sometimes mention chart patterns

Ascending Triangles

 

[rezadamus]

placed 2 trades on Ftse- one at 4129.3 and 4123.8...both 10 point stops (both long)

 

[rezadamus]

placed 2 trades on Ftse- one at 4129.3 and 4123.8...both 10 point stops (both long)

the 4129.3 has stopped out for -10points ....the 4123.8 is still alive (just about!)...im taking a break and will be back at US open

 

[rezadamus]

bought ftse again at 4121.5 10 point stop

 

[francisfinley]

Hey Francis, would you call that an ascending triangle on the 5M - know you sometimes mention chart patterns

Ascending Triangles

hi lap. sorry for not posting my blog today! its just gone so quick.

Flags and Pennants

Wedges

personally i would say it is a bearish pattern. no desire to go past 4130.

 

[lapalabra]

hi lap. sorry for not posting my blog today! its just gone so quick.

Flags and Pennants

Wedges

personally i would say it is a bearish pattern. no desire to go past 4130.

But continually making higher lows?

We'll see, we've spent since 11.15 above pivot making higher lows, but the 4130 is holding

Since the second move down to pivot but not reaching I've been long @ 4117