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

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The correlation is just amazing chaps

look at EUR /usd and GBP/usd fall ......................and the market falls!!

absolute inverse relationship between the dollar and the market

I am buyer of any dips on EUR/USD...........stop loss 1.38
 
US data out at 13.30 UK time .............

just make sure you position your trades accordingly................you could get your stops taken out very quickly, just make sure everyone is on the right side of the market here!!

currencies selling off and adjusting accordingly prior to release .....

uncertainty = short in my book ...........but one has to be careful of any spikes so tight stops!!
 
lapalabra said:
Leo, are you there?

We've moved above that resistance on oil you spoke about re: the saucer on the weekly

Its taking off now, at intraday high
Click to expand...

Yep hello!

Oil seems relentless at the moment, I thought that level would have posed a greater resistance but apparently not! I guess the next level would be around 7300, althought i'm not sure how well S/R levels carry on as that level is from 2007!

Looks like it pulled back to 7060 before moving up yesterday as I predicted, if only I'd traded that! :(
I'm stuck as to where its going next though, supply has decreased so this could push it up further, although it has come up a long way so may be due for a retracement to around 7000? :shrugs:

ETA: Yesterdays resistance zone at 7170ish seems to now be support
 
robinc said:
Looks like thats working nicely!
Click to expand...

At the moment yes......it can turn on a dime though, quite volatile, although I find this period prior to announcements not as volatile

I'm working on a strategy for trading pre-announcement movements in forex, interesting to see how this plays out.
 
rezadamus said:
short ftse 4458.7, very tight stop, 6 points (this is one of those gut feeling trades)
Click to expand...

closed at 4452.8 (around 20 minuts ago-sorry couldnt update at the time as it was an over the phone execution) for +5.9 points profit...market very quite right now...probably waiting for US Open.

Daily P&L = +50.6points
 
rezadamus said:
closed at 4452.8 (around 20 minuts ago-sorry couldnt update at the time as it was an over the phone execution) for +5.9 points profit...market very quite right now...probably waiting for US Open.

Daily P&L = +50.6points
Click to expand...

Nice work.

13.30pm US retail figures, not US open, will be action time
 
I'm now long FTSE at 4457.7 and I'm using the SAR points as my stop levels..
 
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wallstreet1928 said:
US data out at 13.30 UK time .............

just make sure you position your trades accordingly................you could get your stops taken out very quickly, just make sure everyone is on the right side of the market here!!

currencies selling off and adjusting accordingly prior to release .....

uncertainty = short in my book ...........but one has to be careful of any spikes so tight stops!!
Click to expand...

down she comes ..........

I will not do any trades until at least 15-30 mins post announcement .........

whipsaw ..........
 
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