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

[lapalabra]

hello all
im short footsie at 4311 s/l 40,
i feel the move upwards is showing signs of running out of steam.
looking for a profit today
have had a bad week, after 2 very good week,
im still part time on this trading, so cannot post as pften as i would like

FTSE looks to have hit a wall @ 4310 - feeling bearish now.

Have a trendline from todays morning and recent lows on the 10M I want to see price violate.

 

[london_lad]

I went long on 4311, as the momentum is still maintaining along the trend line. I was bearish for past 2 weeks and now a bit bullish. Why is market always going against me?

 

[SuddenDeath]

buy/sell put me long at 4317, got stopped out at 4307. loss 10

 

[hairyman]

FTSE looks to have hit a wall @ 4310 - feeling bearish now.

Have a trendline from todays morning and recent lows on the 10M I want to see price violate.

i agree about the wall at 3110, however it is knocking at the door here and making me nervous.
i might close the position soon

 

[Manya1983]

It looks as if to me that the market is consolidating rather than hit a wall.

I expect further upward momentum once the MA's catch up and US opens. No major downward movement expected.

Good luck.

 

[lapalabra]

V. interesting comparison with Apr 30 on the 4HR - will this one also form a doji?

 

[Geofract]

Are you still in your eur/usd trade LL?

Looking very good if you are!

 

[lapalabra]

FTSE looks to have hit a wall @ 4310 - feeling bearish now.

Have a trendline from todays morning and recent lows on the 10M I want to see price violate.

It's obeying it, not violating, at present. This is one of those 'I'm happy I'm neutral as I really don't have a clue on direction' moments.

EDIT: US Light just spiked past 09, 10 July resistance of 6085

 

[lapalabra]

Are you still in your eur/usd trade LL?

Looking very good if you are!

I wish.

I need to work on having my stops following my winning trades (as SD pointed out earlier).

I am trying not to look at EURUSD as it hurts. I had planned for the breakout but not for keeping in the trade.

(sigh)

 

[SuddenDeath]

2.15 more US data factory utilization/ industrial production

 

[london_lad]

I exited my 4311 long position with £0.90 profit. Realised my entry point wasnt good, so just want out. What a relief. You still expect there to be more upward? UK unemployment data was bad....what is driving this upward move, I have no clue about that.

Also dont forget the gap before opening of roughly about 100 points

 

[Geofract]

I wish.

I need to work on having my stops following my winning trades (as SD pointed out earlier).

I am trying not to look at EURUSD as it hurts. I had planned for the breakout but not for keeping in the trade.

(sigh)

Never mind, there will be plenty of new opportunities.

Hope you grabbed a few nice pips anyway.

 

[lapalabra]

Never mind, there will be plenty of new opportunities.

Hope you grabbed a few nice pips anyway.

Will sit down and read over what you've sent through and get my head around it - I have a vague murky idea that a lot of what I am doing on forex is actually not very smart...I think some of what you sent over may prove me right!

 

[Geofract]

Will sit down and read over what you've sent through and get my head around it - I have a vague murky idea that a lot of what I am doing on forex is actually not very smart...I think some of what you sent over may prove me right!

I wouldn't doubt yourself too much, it's probably more a case of refinement

 

[Mr. G]

Today looking like it could be third up day in the downtrend from June 17 in which case today will be a putative swing high. Sell order will be placed just under today's close. FTSE on daily TF.

 

[london_lad]

TCA Trading, can you explain that in english? what is daily TF? and what sell orders for today's close, you mean stop losses?

 

[Geofract]

Today looking like it could be third up day in the downtrend from June 17 in which case today will be a putative swing high. Sell order will be placed just under today's close. FTSE on daily TF.

As long as went don't break above the swing high of the 1st of July? Or would you still look to go short? Just curious, as I would like to go for the swing trade daily setup, but only if we don't break above the last swing high.

Geo

 

[Manya1983]

US Industrial output falls less than forecast adding to signs the worst of the recession is over.

Should give FTSE a boost.

 

[SuddenDeath]

ARM over 3 months is that a cup and handle pattern ?

 

[lapalabra]

Today looking like it could be third up day in the downtrend from June 17 in which case today will be a putative swing high. Sell order will be placed just under today's close. FTSE on daily TF.

Unfamiliar with swing trading dynamics, is the third up day in a downtrend supposed to be fierce?

If we don't close above that July 1 close then that means we are still in a downtrend and that sell order looks a good idea.