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

[london_lad]

papak: you're the man lol

 

[SuddenDeath]

FTSE for tomorrow 21st July 2009, stay long above 4444 stop and reverse 4442.

If tomorrows gap gets filled, it will struggle to go close higher by more than 20pts (4464)

 

[lapalabra]

lapalabra: what was your signal to enter long?

Wasn't paying much attention to FTSE today, but have 4222 as a level price struggled with this am - we didn't get past it and once we were back above R2 I just went with higher trend.

Also fit the right time of day as well for that little 'dip - rise - sell off' malarkey ftse pulls in the hour before close.

I didn't get my signal for any of it.

 

[lapalabra]

FTSE for tomorrow 21st July 2009, stay long above 4444 stop and reverse 4442.

If tomorrows gap gets filled, it will struggle to go close higher by more than 20pts (4464)

You're on a roll mate.

 

[SuddenDeath]

Two winners, here comes 4 losing trades. hehe

You're on a roll mate.

... Its amazing that the ftse can put together 6 up days in a row, this must be some sort of record ?

 

[Dentalfloss]

still very bullish

intraday data
15 min
box size is 1.89 by 3 reversal
there is no signal to go short on this chart

 

[SabreTT]

949 was an opening double touch

 

[wallstreet1928]

I am short 4432 ...stop loss 4452

targer 4412

closed B/E

still watching this trendline ........break = short

10 min and hourly ....same

 

[wallstreet1928]

OIL

this channel still being respected and playing well for shorts

nice double bottom long on oil at present ..................riding the wave chaps!!

 

[wallstreet1928]

YouTube - Market Techical Analysis - Quiet Before The Storm Is Upon The Markets...

 

[Manya1983]

Nearing market close, don't want to be around for last minute sell off, out for +10

I think you might have undercooked this one mate. I'm up 30 on mine and hopefully still going strong into the Asian session.

I notice alot of you guys get your entries but are too quick to close the positions. Surely you enter a trade on a pre-determined level so by that same notion you should try and have a pre-determined limit in mind too. No good in exiting a trade simply because price becomes a bit volatile. Especially with the spreads we pay your risk to reward ratio is prob 1:1 which is too much of a gamble in anyones books.

I'll either roll my stop with this one or wait till it hits my target of 4,500.

 

[lapalabra]

I think you might have undercooked this one mate. I'm up 30 on mine and hopefully still going strong into the Asian session.

I notice alot of you guys get your entries but are too quick to close the positions. Surely you enter a trade on a pre-determined level so by that same notion you should try and have a pre-determined limit in mind too. No good in exiting a trade simply because price becomes a bit volatile. Especially with the spreads we pay your risk to reward ratio is prob 1:1 which is too much of a gamble in anyones books.

I'll either roll my stop with this one or wait till it hits my target of 4,500.

Manya, thanks for pointing this out - and yes the above applies to me. On this specific occasion I had to leave the house to buy monkfish and IG was going to close me out very soon as it was end of market hours (the short sell off happened and IG would have closed me 6 points down on that trade).

That aside, the above still applies to me and I'm working on it - both my early long trade today and on wednesday were ruined by early exits in what I saw as a reaction area I was too nervous to be involved in - if price is moving between levels then it will move, choppy or not, and in both cases I limited my wins.

And with losses like mine I can't really afford that :|

Oh, and cheers for the article on Price Action earlier...amazing how the basics get forgotten, for me anyway, as new things are learned...

 

[masnachu]

Geo/lapalabra

Regards the price structure stuff on Phils site (labeling swings etc with those arrows) , Larry Williams refers to these as "Ring Bars".

So assume those arrows are short term swings , you can extend the process further by applying the same principle to those arrowed bars.

If you see a short term swing high (arrowed bar) with 2 lower short term swing highs either side (2 lower arrows) , then you can label this an "Intermediate Swing high" (or Intermediate swing low , with 2 higher short term swing lows either side)

Again , for the "Long term Swing" -
1) High, your looking for 2 lower Intermediate swing highs either side ,
2) Lows , 2 Higher Intermediate swing lows either side.

By doing this you can begin to see price structure for various degrees of trend.

One downside , is the amount of time you have to wait sometimes before you can label Intermediate and Long term swings , you can learn to preempt it , from the action of short term swings. Sometimes it works, sometimes it catches you out , just like every other trading idea/principle

 

[dr.blix]

Cheers, I'll do that tonight so I can join the club - I feel left out when I don't understand you guys. Last to be picked for the gootball team :|

hey count yourself lucky, at my school we never even had a Gootball team. :cheesy:

 

[Manya1983]

Lapa, why dont you just put on a rolling contract? So instead of it terminating at 4:30 it simplies rolls over. You do pay the spread again but its better than having to re-enter a position on every single day if you are anticipating market to move one way for 2 or 3 consecutive days. I think you minimise your risk this way. The option if you decide to go for it is in your settings

 

[Geofract]

I've nicked this link from PN's thread - it describes Phils fib pull back strategy. This is an FX example, but I am sure it can be applied to indices too.

FXstreet.com Live Sessions Archives: Trading set ups when breakouts aren't an option - Fibonacci trades

 

[Geofract]

Geo/lapalabra

Regards the price structure stuff on Phils site (labeling swings etc with those arrows) , Larry Williams refers to these as "Ring Bars".

So assume those arrows are short term swings , you can extend the process further by applying the same principle to those arrowed bars.

If you see a short term swing high (arrowed bar) with 2 lower short term swing highs either side (2 lower arrows) , then you can label this an "Intermediate Swing high" (or Intermediate swing low , with 2 higher short term swing lows either side)

Again , for the "Long term Swing" -
1) High, your looking for 2 lower Intermediate swing highs either side ,
2) Lows , 2 Higher Intermediate swing lows either side.

By doing this you can begin to see price structure for various degrees of trend.

One downside , is the amount of time you have to wait sometimes before you can label Intermediate and Long term swings , you can learn to preempt it , from the action of short term swings. Sometimes it works, sometimes it catches you out , just like every other trading idea/principle

Thanks Masnachu, that sounds interesting. Do you know which Larry Williams book that's from - I would be interested to read up on that.

 

[london_lad]

Manya, thanks for pointing this out - and yes the above applies to me. On this specific occasion I had to leave the house to buy monkfish and IG was going to close me out very soon as it was end of market hours (the short sell off happened and IG would have closed me 6 points down on that trade).

That aside, the above still applies to me and I'm working on it - both my early long trade today and on wednesday were ruined by early exits in what I saw as a reaction area I was too nervous to be involved in - if price is moving between levels then it will move, choppy or not, and in both cases I limited my wins.

And with losses like mine I can't really afford that :|

Oh, and cheers for the article on Price Action earlier...amazing how the basics get forgotten, for me anyway, as new things are learned...

Can you post the article link again?

 

[Dentalfloss]

hi ws..how was the cricket
flintoff did it for us today...about time


updating the "crazy " nas 100 chart
well it did pullback on this chart to 1530.so this is looking to be the strongest support area.no breakout above res as yet
what does it say on youre candle charts

 

[Dentalfloss]

enlarged veiw