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

[dr.blix]

I am short Nasdaq 1475 ...stop loss 1488

target as per analysis

so you think H&S as opposed to cup&handle on the nas WS?

 

[dr.blix]

bed time, good luck for the AM virtual trader type people :cheesy:

 

[wallstreet1928]

so you think H&S as opposed to cup&handle on the nas WS?

Too early to see which formation just yet ..........but we will cetainly find out by the end of this week my friend.

I'm just a short term trader my friend, in and out within a day

after analysing the Nasdaq and a few market leading stocks I concluded the Nasdaq would fall tomorrow only ..............after that according to analysis it will kiss 1500!!

We have to let the market see what it does after 1500 ...........

I am not good at swing trading or longer TF........too many variables to account for and I get a good night sleep knowing I'm not stuck in a position.

 

[lapalabra]

Lapalabra, just quickly on EUR/GBP, I don't want to see a break of 8578 (high of the 25th) or my bias could change to long or neutral.

Also, my only concern with shorts was that what I see as a correction over the past few days, could be an upside down head and shoulders? Any thoughts on that?

Maybe it's safer to go with the trend regardless...

See the self doubt creeping in already

Hey Geo, I see what could be the inverted h&s but I only trade set ups with the trend or channel- I don't know if you are trading longer than intraday?

On the 4H the top and bottom of the channel are clearly formed since 11 May, and that 8600 level is clearly in play, so a trade at that area I think provides the best set up for tomorrow.

If we are looking at a reversal and price reaches up to that level (you meant eventually, not on the day right? ) then I don't want to be involved, a reversal is unpredictable I find, but at least a move back into the trend reacts to recent levels and gives confidence in my r/r exits/entries, and trading with the trend at least gives an edge in the long run (especially with forex methinks).

It may just be that I don't know how to deal with reversals (that week 16Apr correction eurusd hurt me, so call it recency bias!) - I just think why trade it until it takes shape as a consolidation or reversal the day after, and meanwhile move on to something else.

 

[SuddenDeath]

good morning everyone,

 

[Geofract]

Morning SD

 

[dr.blix]

morning soldiers, hope you're all ready for another day on the battlefield :cheesy:

asian markets down, but china up.

 

[karlandree]

morning all..

 

[dr.blix]

i'm gonna wait for 4257-4265 and short any divergence i see.

 

[10pips]

4255 is todays Main Pivot line for the day..Morning lads.

 

[SuddenDeath]

DOW Friday daily range on cash, 68 points ! any views ?

 

[sujithsstorock]

fridays call ,"sell eur/usd at 14100 sl 14160 tgt 14008">>tgt met today ..!!

book ftse100 buy at 4207 at break even now.we shall re-trade it later

 

[dr.blix]

long @ 4251 target 4265

 

[dr.blix]

aaah...the pivit's 4255 LT??!

 

[wallstreet1928]

FTSE 4 hr chart

range bound 4215 - 4290 ............

gap fill at 4215 - 4195 which will be interesting .........

looking to short if any signs of weakness around 4250 area and we fail to trade above it as red trendline still in play...........

I am bearish on the FTSE tomorrow

10 min chart

20 and 50 MA pointing downwards - negative bias

downside targets on the 10 min are 4225 and 4215 ...possibly 4195 gap fill

I am short as per analysis

stop loss 4275

 

[10pips]

dr.blix. Yes. Am expecting it to hover around this point before she sells back.

My understanding is, if market opens under Main PP, market tends to sell for the day, vice versa, and today, it has opened under Main PP - therefore am looking for my sell signal.

 

[Geofract]

fridays call ,"sell eur/usd at 14100 sl 14160 tgt 14008">>tgt met today ..!!

book ftse100 buy at 4207 at break even now.we shall re-trade it later

Great call on the EUR Suji!

 

[lapalabra]

dr.blix. Yes. Am expecting it to hover around this point before she sells back.


My understanding is, if market opens under Main PP, market tends to sell for the day, vice versa, and today, it has opened under Main PP - therefore am looking for my sell signal.

I think we are big fans of the pivot, LT.

One thing I would add is that although the bias is short on opening if price opens below the pivot, sometimes within the first hour trading it can rush to the pivot and beyond, usually pulling back to it before then trending to next resistance and giving a long bias for the day - so its not always a short bias on opening if pivot comes into play straight away.

I then wait for my signal within that range.

 

[dr.blix]

long @ 4251 target 4265

closed for 12 pts

i'll refrain from jumping right into a short at 4264 and wait for a confirmed retracement rejection

 

[10pips]

lapalabra - Thanks for the good explanation. Thats how my logical thinking is around pivots - Just couldnt write it into long sentences as you just did.