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

[Geofract]

Morning all

Lapalabra, I was wrong on the 'returning into range voids the trade' - it was actually when price bounces out of the other side of the range.

Did you get the links I posted yesterday - they are for range break out strats - very simple, and well worth a read. I spent yesterday trying to fully understand the strategy, and will be demo trading it soon.

my post: http://www.trade2win.com/boards/uk-...p-aimed-help-new-traders-1043.html#post831454

 

[SuddenDeath]

chances of FTSE100 hitting 4300 today?

 

[lapalabra]

.. above 4267 (+30) the VIX is very low 25 lowest close for 6 months, which means complacency, the cost of hedging a position is very cheap, it also means that volatility or daily ranges will be low, if the ftse has gone to 4236, I would want to short when the range is 50 or more. on Momentum ftse once it breeched 4168(896 sp500) meant that a sustained rally up was possible.

Re Opening range breakout, have you considered finding the average range on a cross and instead of using the first hour high/low but a percentage of the average range.

Re: ORB - I am just studying TAR now and related strategies, but no I have not looked at doing this: I will consider, but have been until now looking at TAR to add to my understanding of gauging the success of trades ie. when my potential trade may be in the overextended direction of the ATR

 

[lapalabra]

chances of FTSE100 hitting 4300 today?

I'm looking at 4290 initially - resistance around that area, but opening 10M bar closed above S1 @ 4264 and we opened above a trendline on the daily from Jun10, Jul1, 14Jul.

I'm hoping anyway, as I'm long from 4273 on the pullback and doesn't look all that great.

 

[Manya1983]

4,300 is very much possible, considering we are only 30 or so pips away from it I think we will see a sustained effort to make that level. Whether we break it remains to be seen.

I think today we have some unemployment data coming out from the UK so unless these dissapoint to the downside we again have nothing detracting from the recent positive sentiment. Morgan Stanley also report tommorow so allowing for anything detracting this morning we may see a breakout this PM during the US session.

I have taken out the limit from my FTSE position and will manage the position live in the hope it will break 4,300 on the first attempt.

Good luck.

 

[lapalabra]

Morning all

Lapalabra, I was wrong on the 'returning into range voids the trade' - it was actually when price bounces out of the other side of the range.

Did you get the links I posted yesterday - they are for range break out strats - very simple, and well worth a read. I spent yesterday trying to fully understand the strategy, and will be demo trading it soon.

my post: http://www.trade2win.com/boards/uk-...p-aimed-help-new-traders-1043.html#post831454

Ah OK Geo, that makes more sense.

Very simple is the best kind of simples. Will have a look, missed it yesterday.

 

[wallstreet1928]

I am short 4227 ...stop loss 4257

target 4200

stopped out overnight

 

[lapalabra]

4,300 is very much possible, considering we are only 30 or so pips away from it I think we will see a sustained effort to make that level. Whether we break it remains to be seen.

I think today we have some unemployment data coming out from the UK so unless these dissapoint to the downside we again have nothing detracting from the recent positive sentiment. Morgan Stanley also report tommorow so allowing for anything detracting this morning we may see a breakout this PM during the US session.

I have taken out the limit from my FTSE position and will manage the position live in the hope it will break 4,300 on the first attempt.

Good luck.

I'm still green from your 4100 entry and all those gobbled points Well done mate.

I see you are a news/fundamentals man, good to have some variety.

I agree in that our proximity to 4300 will see price attempting to test it - I have S2 @ 4290 and am just trading a trend between pivots til then - want to be watching and waiting when we get close to 4300.

Jobless Claims @ 0930

 

[SuddenDeath]

9.30 some UK unemployment data, claimant count

 

[dr.blix]

careful chaps, this high doesn't have the same RSI as yesterdays 1.00pm peak.

could see a 20/30 pt drop in about 10 mins.

that's what mystic meg says anyway, shes living under my stairs now so i'm hoping my tradings gonna really improve...

 

[Manya1983]

Cheers Lapalabra. I do look at techincals when trying to gain an entry but I also prefer to mix these up with fundamentals as its the fundamentals which initially help to break or support the techincal levels.

This week has been something of a sensation for me. Had quite a bit of success on the currencies as well but the market is trending and I've just ridden on the back of it.

Hope today is profitable for everyone.

 

[dr.blix]

apologies for that level of the surreal at this hour.

i'm short (or so they tell me) @ 281

EDIT: and now reading the posts this morning that looks bad...once again i have dived right in.

 

[dr.blix]

apologies for that level of the surreal at this hour.

i'm short (or so they tell me) @ 281

EDIT: and now reading the posts this morning that looks bad...once again i have dived right in.

closed for - 4 pt loss

 

[dr.blix]

short @ 287

 

[lapalabra]

I'm long from 4273 on the pullback and doesn't look all that great.

Closed @ 4291 for +18

 

[Manya1983]

Unemployment figures rose the least amount in a year! Surpassing analyst estimates.

4,300 very much in sight and ready to break through.

 

[lapalabra]

I agree in that our proximity to 4300 will see price attempting to test it - I have S2 @ 4290 and am just trading a trend between pivots til then - want to be watching and waiting when we get close to 4300.

OK, the trend was secure between pivots and a nice earner, looking for the reaction to the round number monster...possible scalp on its first test

 

[dr.blix]

short @ 287

3 pathetic calls...well, coin flips really.

have a good day everyone.

 

[lapalabra]

Morning everyone

For everyone who was interested in the AM range breakout thread - these posts would be worth a read I imagine

T2W Day Trading & Forex Community

http://www.trade2win.com/boards/for...855-phil-newtons-range-break-out-strategy.htm

Have a good day

Page not found, Geo

 

[lapalabra]

3 pathetic calls...well, coin flips really.

have a good day everyone.

Were they all 50/50? They were shorts against a strong uptrend and none at major resistance levels - think the odds were not in your favour there DB, unless you saw something that indicated a significant reversal.