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

[lapalabra]

ugh, my short from 4495 the other day just stopped out at breakeven. I think I need to get a better exit strategy, I was up nearly 140pts yesterday and I could've taken profit, although it hadn't hit my target. Maybe I was being too greedy, not trading what I saw?

Leo - remember your analysis about the triple top on the dailies, was your target 4300?

Maybe scaling out at mileposts on the way down may be an idea, thats a lot of points to be holding in your hands to give back in one go on a red letter day like today- especially if there's 300 odd points between your open and your target?

 

[lapalabra]

US non farm, did anyone trade it ?

I was out at the gym with my dog doing body building.

Sheesh, NOW you arrive...

Look back, I was talking to thin air then while you were away

 

[dr.blix]

i've seen a squirrel water-sking...

 

[lapalabra]

Hmm... looks like the FTSE isn't falling, maybe we'll head back up for another retest of 4500?

yep, looks like it finally made it over that 4460/4470 and is setting up shop

 

[dr.blix]

symmetrical triangle, prob a continuation pattern

4469 is it's 4th bounce, if it holds and bounces we'll be testing that 500 again

 

[dr.blix]

my first gap up on the FTSE, interesting stuff

 

[LeoE]

Leo - remember your analysis about the triple top on the dailies, was your target 4300?

Maybe scaling out at mileposts on the way down may be an idea, thats a lot of points to be holding in your hands to give back in one go on a red letter day like today- especially if there's 300 odd points between your open and your target?

Thats a good idea, I also probably should have taken yesterday as a hint. We seemed to run out of downward momentum, failed to make a lower low etc... Could've still taken nearly 100pts yesterday evening.

 

[carlos b]

Ah it was Leo who had the 140 points, Carlos

ah my appologies.. doing the normal 5 things at once..

well done leo

 

[dr.blix]

Thats a good idea, I also probably should have taken yesterday as a hint. We seemed to run out of downward momentum, failed to make a lower low etc... Could've still taken nearly 100pts yesterday evening.

i was posting this all over the shop leo:

 

[lapalabra]

symmetrical triangle, prob a continuation pattern

4469 is it's 4th bounce, if it holds and bounces we'll be testing that 500 again

I agree, now long @ 4472

And stopped out...

 

[SuddenDeath]

@ lapalabra did u trade the Non farm ? (dax moved 60pts after non farm)

any more market moving news being released anywhere on the globe today ?

 

[dr.blix]

I agree, now long @ 4472

bollox...it's breached

hope it holds lapa

 

[LeoE]

Yep, I think I was definitely trading what I thought and not what I saw. I didn't see your chart blix, but wish I had! Although I probably still would've been stubborn and held my original view

 

[dr.blix]

i' sure i've read somewhere that once u get a gap up it won't break through again soon

EDIT: well that was a load of nonsense then...

this is lookin a bit moody

 

[LeoE]

I'm short at 4447 on the break lower than previous 1hr candle.

 

[dr.blix]

i couldn't stop myself..i went short @ 4454, thinking i should have taken pts at 4440

it's that 4444 again, it's like glue

if we can pop it i have 4427

 

[lapalabra]

i' sure i've read somewhere that once u get a gap up it won't break through again soon

EDIT: well that was a load of nonsense then...

this is lookin a bit moody

I hadn't heard that - if a session opens above the previous sessions gap, I know that gap as a resistance/support should hold well, but not a gap up in the same session, don'[t know how that would apply

That was a silly trade, there was no real confirmation for the news breakout above that level meaning it would stay there.

Next level the magic 4440/4 - surely this must hold...if not do we see a strong fall?

 

[10pips]

Reversal is not common in afternoon trades on footsie, so you may see R1 - 4430 towards end of day. Good luck

 

[SuddenDeath]

Put some ohlc data into a spreadsheet and confirm....

I hadn't heard that - if a session opens above the previous sessions gap, I know that gap as a resistance/support should hold well, but not a gap up in the same session, don'[t know how that would apply

That was a silly trade, there was no real confirmation for the news breakout above that level meaning it would stay there.

Next level the magic 4440/4 - surely this must hold...if not do we see a strong fall?

for yourselves the truth.

 

[dr.blix]

ah, ok lapa, that might be exactly what i read, at the start of a session.

that triangle was pretty snidey...what would have been the confirmation that it wouldn't breach its 4th bounce (floor)?