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

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lapalabra said:
Hey TCA, would be interested to know how you will play this now in light of yesterdays close?
Click to expand...

On the basis that doing nothing is actually a decision, I'm on the sidlelines.

FTSE has given a buy signal this morning but I'm not sure whether to act on it and am inclined to wait for Mr. Market to give more clarity around direction.
 
dr.blix said:
yeah i'm in the same channel, only i have it divided into 3...i'll fire a chart up.
Click to expand...

Ah ok please do - in which case your entry (if I'm righ tin thinking you entered on the bottom of that third lowest tl) wasn't bad? or was it that you didn't wait til it was broken but jumped the gun?

I jumped the gun getting in @ 4342, but would have actually entered just below your price had I taken into account that t/l from the lows of first day of rally.

Anyway, channels aside, I am still bearish for today

I'm leaving for a while as so not to fiddle, limit order set @ 4316 - short from 4342
 
i went in @ 331 as it breached the centre line in my channel, but my MA held it.

i'll explain better when i pu the chart up.

i went short @ 344. i have some form of triangle pattern on a 5m TF, but it's hard to call which type, so i went short at the roof of the pattern (4356 was the actual roof), i have a tight 11 pt stop.

waiting for the pattern to break.
 
Aye.

Sounds like I'm running the same sort of channel as you lap & blix on the 10min (I've got a 50'tent line running up through 4330's, also 40MA running around there), 60 min I've set a channel of the lows.
 
here is a trade setup, 5 bar stochastic with 5 bar ris, trigger.

TCA Trading said:
I'd like to hear your suggestion SD
Click to expand...

Set chart to 10mins, whenever the 5 period stochastic closes below 20, then check the reading of the 5 bar rsi the higher it is the stronger the buy signal,


I found this system on Trade2Win free trading systems forum.
 
Got stopped out on all my trades apart from short EUR/CAD and short GBP/EUR.

Didn't lose anything on the trades apart from on my FTSE position costing me 15 points.

:)
 
SuddenDeath said:
Set chart to 10mins, whenever the 5 period stochastic closes below 20, then check the reading of the 5 bar rsi the higher it is the stronger the buy signal,


I found this system on Trade2Win free trading systems forum.
Click to expand...

well i'm just paper trading today so i'll give that a blast.
 
SuddenDeath said:
FTSE rallying after JP morgan reported
Click to expand...

now this is the bit that messes with my head.

when people look at the historical FTSE chart of 30 mins ago, they'll see a nice double bottom, then the rise and say, aaah, yeah...look, and obvious double bottom.

only they may not know that there was any news at all.

now, the thing is...how did the FTSE know that the JP morgan news was going to be good? it formed the double bottom at 11.00-11.15???

i'm sure this is a stupid question, but hey... :cheesy:
 
Regarding the news itself , no one KNEW , but the expectation over tha last few weeks is for the US banks to report good numbers , as I mentioned Monday I think.

Double bottom , again its just the way the market formed , we were correcting when the news broke, without the JPM results being announced then, it would probably gone on correcting for a bit longer and made some other kind of pattern.
 
Still looking to go short on the FTSE again. Will look for an entry around 4,390.

I suspect the Google and IBM earnings will dissapoint.

:)
 
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