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

[Dentalfloss]

update na 100.still in the triangle.no clues on the direction of the breakout

 

[wallstreet1928]

amend to break even

potential break out looking on S&P

OK so we got our break out and profits banked

 

[wallstreet1928]

YouTube - Market Technical Analysis - Light Volume Means Markets Can Float Higher...Key Levels To Watch

 

[wallstreet1928]

I am long nasdaq 1427................stop loss 1397

target

closed for 15 points profit

bank your profits when you see them

 

[wallstreet1928]

Good Evening chaps

so FTSE held its gap fill support very well @ 4190 , something I was very wary off and it prevented me from shorting the FTSE outright

So what will tomorrow bring?

Please post your theories and analysis folks and lets have a consensus

 

[wallstreet1928]

"Barclays: Qatar Investment Authority Ups Stake" published 15:40 GMT incorrectly stated that the Qatar Investment Authority had increased its stake in Barclays PLC (BCS) in the headline. The stake remains at 12.53% - only the make-up of mandatory convertible notes and ordinary shares has changed.

I bet that scared a few short sellers...............haha!!

 

[Tickdoc]

Daily candle says long but there's nothing new to work against last weeks US news. I'd be bearish, but taking it easy after taking a good profit on the cable...

 

[wallstreet1928]

FTSE - Tuesday 7th July

trend line to watch

key levels

4205 - 4242 gap fill

4242 - good shorting opportunity

4205 - will hold the key

> 4205 I will look for longs upto 4242, possibly even 4260

< I will look for shorts to 4175...if that fails then all hell break loose!!

 

[dr.blix]

you've stolen my Bugz crown mr. T Doc!!

i suppose it suits you with a name like Tick Doctor (tick - insect - bug - GEDDIT?! )


but seriously, re 2moro: i have a FTSE range of 4193 - 4227 initially, i suspect a rising wedge could be forming...if so 4227 will be the ceiling before dropping to 4177 again.

no doubt about the osc div though.

i'm seeing it slightly bullish in the morning, but i'll wait and see what the asian markets and european futures do first.

 

[Tickdoc]

AHHHM the bug master now...can't see that lasting though!

 

[kaisen]

If all the others are falling in the sector and it isn't then there is probably a good reason. You're trading more on hope that anything else there. You were expecting it to fall with the others but it hasn't so this should have alarm bells ringing and then look to get out if it starts rallying.

Hi Foredog, thanks for your post.

Seems a bit insulting to say i was trading on hope. I went short on Kazakhmys and ENRC during the morning and made the bulk of the profits which i banked (which i think you will find was a good call and I used various indicators for this decision). In the afternoon the mining sector weakened further and so I re-entrered ENRC at a higher price than that which i had come out initially. I had checked various news streams and could see no stand out reasons why the share should not go with the sector as it had already done during the morning.
As Rio began to sell off in the afternoon and XTA fell further along with AAL and Vedanta (who had been slow to sell off initially) I decided, owing to no major news for ENRC, the fact that ENRC had gone with and been at the forefront of the drop initially AND the US weakening, to short ENRC again. This and many other factors does not seem wing and a pray trading to me.

Should you have any constructive alternate analysis I would certainly be glad to hear it as the sharing of views and analysis helps everyone, but to earmark my analysis as "hope" without asking for my trading rationale seems on the face of it patronising and unhelpful.

I always appreciate any viewpoints and agree with you that "alarm bells" were ringing but i could not find any logic to what was happening. Given oil is "predicted" to be declining from recent highs commodities are under pressure at the moment, I do personally take the view that the market is due a correction as it has got ahead of itself. Consistent less bad news is unlikely to keep the markets burning and some concrete good news is needed to take the markets higher IMO.

I look forward to your in depth analysis for contructive support and assistance to help me and anyone who reads the thsread.

Kind regards

 

[lapalabra]

Morning all.

Split - been reading up on that thread and comments re: DAX. Its been a lovely trade since open, been short since 4676 4650 is my target, will exit @ gap fill around 4660 if it doesn't play nice (I am unsure how DAX behaves so being careful)

EDIT: Yep gap fill provided support - out @ 4670 for +6

 

[bw81]

Morning all.

Split - been reading up on that thread and comments re: DAX. Its been a lovely trade since open, been short since 4676 4650 is my target, will exit @ gap fill around 4660 if it doesn't play nice (I am unsure how DAX behaves so being careful)

EDIT: Yep gap fill provided support - out @ 4670 for +6

Morning All,

Good trade to wet your whistle Lapa

Seen anything good on the currencies this morning?

I wasnt up early enough to catch that consolidation break on the GBP/EUR at 6.40am

 

[foredog]

Kaisen, you misunderstood me, i didn't mean you entered on hope, what i meant was that once it didn't go down with the others you didn't look and say....there must be a reason for this, you just seemed to think that if all the others have gone this one will in a minute, which generally won't happen, if a sector craps out they normally all go at pretty much the same time.
Thats where i meant tradong on hope, instead of reassesing since the trade hasn't gone to plan you just hoped it would follow the others down.

 

[lapalabra]

Morning All,

Good trade to wet your whistle Lapa

Seen anything good on the currencies this morning?

I wasnt up early enough to catch that consolidation break on the GBP/EUR at 6.40am

I feel a bit nervous having shared that with you, not because I'm not happy to share stuff but just be careful you don't get burned - GBPEUR is moving around the bottom of the daily channel 11625 with key levels looming - 11600 below and '660 above, a move out of any consolidation period is straight into res/support.

Also, on a higher TF the pair are stalling - normally a consolidation period outside trading hours is a pause in the wider trend.

That said, you see how a move out and the pullback was to that bottom of the consolidation channel from overnight - these levels are key to managing the risk/reward and entries/exits. Unlike FTSE, you can fail a few times on entries and more than make it back on nailing the right timed entry.

OK, that said, I won't get involved on this until there is some move beyond those levels. USD pairs more interesting right now.

EDIT: And remember mate this is all a work in progress! OK back to FTSE - hopefully she will be a bit more active this morning!

 

[SuddenDeath]

4185 looks like a good entry for a long

 

[kaisen]

Kaisen, you misunderstood me, i didn't mean you entered on hope, what i meant was that once it didn't go down with the others you didn't look and say....there must be a reason for this, you just seemed to think that if all the others have gone this one will in a minute, which generally won't happen, if a sector craps out they normally all go at pretty much the same time.
Thats where i meant tradong on hope, instead of reassesing since the trade hasn't gone to plan you just hoped it would follow the others down.

Thanks foredog, i will keep this in mind. I should have closed the position but everytime i have done this with ENRC they have then rolled over!
I am pleased to find that you have good intentions with your post.


BTW - My stop has stopped me out and the shares have now rolled over! Tisch!
I suppose I wanted to stick to my analysis as I hate it when you get in a position, doubt yourself and analysis, often due to emotion and then the play works out just the way you planned!
I have learnt alot in the last 24 hours and I am still nicely up so my trading account and my experience have both increased! And Amen to that!

Are you in Spain by the way? If so where? I was in Murcia for 2.5 yrs until February! Now in leafy North Yorkshire!

 

[Splitlink]

Morning All,

Good trade to wet your whistle Lapa

Seen anything good on the currencies this morning?

I wasnt up early enough to catch that consolidation break on the GBP/EUR at 6.40am

Good morning ,

You don't waste time! I've just finished my Weetabix.

 

[lapalabra]

4185 looks like a good entry for a long

I'm wary of longs with so much selling strength here. Going to look for a short if we manage to get back to 4200pivot 4205 gap - lots of res there.

 

[lapalabra]

Good morning ,

You don't waste time! I've just finished my Weetabix.

I haven't had Weetabix for ages. MMMmmm...

I always used to have three and had to keep adding milk. No matter much you put in it all gets soaked up.