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

[bw81]

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!

many thanks, and i appreciate your concern very much. My intention with the currencies is to tenderly dip my toe in on a very very small position ( a tenth of what I would normally trade on the FTSE) this way I can establish a trade setup that suits my trading techniques. I want to reiterate for the benifit of others that its imperitive to do your own analysis and trade off your own setups. But at the same time sharing information on each others strategies is clearly giving all of us on this thread an edge i our own trading techniques. Your time in explaining how you approach your trades is benifical to all so thanks for that.

Hope everyone has a good day trading there setups today.

 

[foredog]

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!

No worries

I'm up in Javea, 30 mins north of Benidorm, been out here a year now.

 

[Splitlink]

I have three, with skimmed milk. That, plus lots of tea and Nescafé will keep me going until lunch.

Enough of the socialities, I'm going to the platform.

 

[kaisen]

many thanks, and i appreciate your concern very much. My intention with the currencies is to tenderly dip my toe in on a very very small position ( a tenth of what I would normally trade on the FTSE) this way I can establish a trade setup that suits my trading techniques. I want to reiterate for the benifit of others that its imperitive to do your own analysis and trade off your own setups. But at the same time sharing information on each others strategies is clearly giving all of us on this thread an edge i our own trading techniques. Your time in explaining how you approach your trades is benifical to all so thanks for that.

Hope everyone has a good day trading there setups today.

Nice message bw - glad you are on board - nice to find so many nice chaps!

 

[lapalabra]

many thanks, and i appreciate your concern very much. My intention with the currencies is to tenderly dip my toe in on a very very small position ( a tenth of what I would normally trade on the FTSE) this way I can establish a trade setup that suits my trading techniques. I want to reiterate for the benifit of others that its imperitive to do your own analysis and trade off your own setups. But at the same time sharing information on each others strategies is clearly giving all of us on this thread an edge i our own trading techniques. Your time in explaining how you approach your trades is benifical to all so thanks for that.

Hope everyone has a good day trading there setups today.

Tenderly dipping is good, that's what I was getting at

And that set up I ran you through is a great way to start - find any trending currency pair thats fairly liquid and experiment...

OK we are testing those FTSE 42- res levels, my short is being prepared

 

[bw81]

Nice message bw - glad you are on board - nice to find so many nice chaps!

Thanks kaisen,

Hope we can all make a few quid today

 

[h_a]

We have got manufacturing news at 9:30

 

[lapalabra]

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.

OK short @ 4202 - can't help feeling may be too early on this call

You hedged today SD?

 

[lapalabra]

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

And doing it again....

 

[dr.blix]

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.

following my analysis (don't worry, i didn't say that with a straight face :cheesy i went long @ 4192 target 4205 or beyond.

instead of taking the 10 pts on offer i let it go and closed BE.

 

[lapalabra]

following my analysis (don't worry, i didn't say that with a straight face :cheesy i went long @ 4192 target 4205 or beyond.

instead of taking the 10 pts on offer i let it go and closed BE.

With that selling strength wouldn't you prefer having pivot & gap fill behind you to use the pullback as an entry to this downward trend rather than buy a pullback into resistance?

OK, now I've said that watch the massive reversal back up to 4250!!!

As I think we've covered before DB, if you insist on buying pullbacks, bank the profs immediately.

Still, no loss right?

EDIT: I may well end up b/e here too (sigh)

 

[dr.blix]

long 4192 again, snaffled 5 ninja points :shuriken:

 

[dr.blix]

With that selling strength wouldn't you prefer having pivot & gap fill behind you to use the pullback as an entry to this downward trend rather than buy a pullback into resistance?

OK, now I've said that watch the massive reversal back up to 4250!!!

As I think we've covered before DB, if you insist on buying pullbacks, bank the profs immediately.

Still, no loss right?

EDIT: I may well end up b/e here too (sigh)

saw a pattern last night lapa, looks like the pattern is calling the shots at the mo.

 

[lapalabra]

long 4192 again, snaffled 5 ninja points :shuriken:

I love that smiley

 

[lapalabra]

saw a pattern last night lapa, looks like the pattern is calling the shots at the mo.

Pattern? What pattern? Did I miss one of your posts?

EDIT: Here comes my b/e, rolling over dem hills

 

[dr.blix]

pants, i given away about 20 pts already this morning (not lost, just getting out to quick)

 

[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.

that was the post lapa re the pattern, shonky chart included!

if it is a rising wedge lapa, that high will be the last before the drop...fingers crossed for ya

 

[lapalabra]

saw a pattern last night lapa, looks like the pattern is calling the shots at the mo.

Jeez, DB, your ninja skills would be very profitable between 4190 - 4200!

 

[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!!

Ok so morning strategy paid off well

But I am reluctant to short now

I am now looking to go long

4190 gap support holding really well

I am looking for a confirmed breakout as this mornings failed and my upside target will be 4242

I am more inclined to go long on teh DAx as it seems to be more stronger of the two

 

[lapalabra]

that was the post lapa re the pattern, shonky chart included!

if it is a rising wedge lapa, that high will be the last before the drop...fingers crossed for ya

Ah.

I'm getting out if 4190 doesnt break this time round