I know exactly how you are feeling! It wasnt even that you had a very tight SL. You would have thought 27 points would have been enough to cover a bit of noise on the index. All i can say is better luck next time.
Wallstreet1928 Analysis & live calls on FTSE,DAX,S&P...aimed to help New traders
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I know exactly how you are feeling! It wasnt even that you had a very tight SL. You would have thought 27 points would have been enough to cover a bit of noise on the index. All i can say is better luck next time.
i got stopped out at BE on the ftse (4995 i think)...i went back in short at 4501...now its at 4459
...(sorry couldnt resist)i got stopped out at BE on the ftse (4995 i think)...i went back in short at 4501...now its at 4459
I think we could be in for a bounce from here.
so you have a long term position open, then do you trade short term in the opposite direction and for bigger stakes?
kaisen
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i got stopped out at BE on the ftse (4995 i think)...i went back in short at 4501...now its at 4459
Hey Reza, dont apologise my friend, i´m loving your style!!
When and how much will the next drop be Reza?
No pressure but whatever you say i will be putting my house on it!
Hey Reza, dont apologise my friend, i´m loving your style!!
When and how much will the next drop be Reza?
No pressure but whatever you say i will be putting my house on it!
haha i wouldnt do that...well..its already reached my first target of 4462...next target is 4427.3....I honestly think we will see 4000 again, but small steps at a time
We are respecting the upward trendline at the moment, what makes you so bearish? You just think we are due a pull back?
Thanks Geo. It was on my radar over the past couple of days. Whats makes this signal even more stronger is that the price touched 8599.9 exactly and then shot back down! All this dispite the fundamentals pointing to a stronger CAD.
If crude and equities have a bit of respite over the next few days then this will definetely be a very profitable trade!
Just back after a sleep and Nooooooooo....... I missed it!!!!
Well I'm glad you got that Manya, you were patient the last couple of days - well deserved mate. I was here for the '600 and should really have just put on the trade and gone to sleep, would have been nice to wake up to, just have a problem sleeping knowing a trade is on....I need to get over that....
I need to schedule myself properly to sleep in the 12-2pm period, missed out on this and was too tired to trade the FTSE 4500. Ah well, good to see everyone got involved - and nice to see the Rez man back in the house, shorts fully loaded!....
Dentalfloss
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from Ashraf Laidi
2009.07.21 13:16: As we warned today, stocks head lower, bond yields drop over 15 bps, and oil breaks below $64, prompting a broader unwinding of yen-carry trades. GBPJPY, AUDJPY and NZDJPY eye 151.90, 74.60 & 59.70 targets into Asian trade. USDCAD offers hope to the bulls as it's likely to close above the key 1.1030 support. Readers of last weeks article saw the trend line resistance of AUDJPY and NZDJPY hold up at 77 and 62. USDJPY is now fully resuming selling momentum after confirming the validity of the downtrend mentioned in the latest HotChart. Our Dojis on AAPL and YHOO warned on twitter site are now fully in play Twitpic - Share photos on Twitter
2009.07.21 13:16: As we warned today, stocks head lower, bond yields drop over 15 bps, and oil breaks below $64, prompting a broader unwinding of yen-carry trades. GBPJPY, AUDJPY and NZDJPY eye 151.90, 74.60 & 59.70 targets into Asian trade. USDCAD offers hope to the bulls as it's likely to close above the key 1.1030 support. Readers of last weeks article saw the trend line resistance of AUDJPY and NZDJPY hold up at 77 and 62. USDJPY is now fully resuming selling momentum after confirming the validity of the downtrend mentioned in the latest HotChart. Our Dojis on AAPL and YHOO warned on twitter site are now fully in play Twitpic - Share photos on Twitter
wallstreet1928
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Welcome back Reza my friend
Have a good'en
Was just about to ask if you and geo spotted the bias change
Ah ok thanks for pointing that out - I see the bias change right there on the 10M.
I am looking now from 4.50pm to 6.50pm and can see the bullish bias on 10M - how easy it is to forget the basics when in the heat of it all you are focussed on levels, when actually the first thing to prioritise should be direction.
I am looking now and can see the bias change, but what I like about that article is the last bar as the piece of the puzzle - the confirmation.
I can set a moving average over a period of bars to give this same visual presentation of a bias change, but that last piece for confirmation is very helpful.
It should be basic stuff, but I for one don't always think it through.
Geofract
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I don't know if I am taking bias changes too far - but with H4 for direction, as per Dr. Phil - if you want to trade with the trend, then you can miss a lot of the move before you get confirmation of trend change/direction... I might just be looking at this in the wrong way though, being a noob n' all! Or perhaps this is more a result of current conditions, with lots of FX pairs consolidating/not showing specific direction.
Your thoughts on this please Masnachu and Lapster?
Your thoughts on this please Masnachu and Lapster?
dr.blix
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ok, i've just spent hours analysing all the major indices, i've completed exhaustive intermarket analysis, i've created an AMAZING new, 100% successful, fully automated computerised system based on Fibonacci Spirals, Gann analysis, the Mayan calender and the seasonal migratory patterns of Canada Geese and it's all provided me with absolute, rock solid, instructions. i just have to follow these to the letter and i'm absolutely sorted...FOR LIFE!
i'll be selling this system to all the major investment banks and hedge fund companies across the world for millions next week, but seeing as you've all helped me so much with learning to trade i'll share the first computerised instructions with you...FOR FREE!
ok, here goes, it's a bit complicated, but apparently i've got to...
SELL the highs...
and...
BUY the lows!!!!!
aaah...i can hear the champagne corks popping!!!!
book me a flight to Monaco...
does anyone have paris hiltons mobile number?
:cheesy:
:spam:
i'll be selling this system to all the major investment banks and hedge fund companies across the world for millions next week, but seeing as you've all helped me so much with learning to trade i'll share the first computerised instructions with you...FOR FREE!
ok, here goes, it's a bit complicated, but apparently i've got to...
SELL the highs...
and...
BUY the lows!!!!!
aaah...i can hear the champagne corks popping!!!!
book me a flight to Monaco...
does anyone have paris hiltons mobile number?
:cheesy:
:spam:
wallstreet1928
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:clap::clap::clap:
wallstreet1928
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What A Difference A Day Makes
As of today, everyone is proclaiming the March lows have successfully been tested and the new bull market has begun. On June 11th, the market made an intra day high on the S&P at 956.23. Everything was rosy on Wall Street again. The new administration was in charge and radical change was taking place. The market seemed to have accepted the new regulations that the new leaders were putting into place. On the surface, it really appeared the President Obama's stimulus plan was working and perhaps the world can print their way out of this financial crisis. The previous administration tried three separate stimulus plans only to see more problems occur. The money seemed to have been wasted. Oil was soaring once again, as it felt like 2007 all over again. Is it really different this time? Can they really inflate this economy back to health?
On July 7th, the talking heads in the media were all proclaiming a head and shoulders top was in place and the market should decline down to the 820 level on the S&P and perhaps possibly test the March lows. On July 10th, I heard the average person talking about a 'head and shoulders' top. Head and shoulders are extremely bearish patterns. These same people who were talking about the head and shoulders top, just days before, thought it was a shampoo developed by Proctor and Gamble. All of the sudden, everyone was a market technician and an expert chartist. What happened to the green shoots from June 11th? After all, this was the first correction since the market bottomed on March 6th at the low of 666.79. It is sometimes comical how people expect things to go straight to the moon without a retrace or pullback after a 40 percent rally. This just is not the way that markets function.
On July 10th, after a one month pullback, the market seemed to be floundering. The crowd was in on the short side eagerly awaiting the big decline. The following week starting July 12th-17th was options expiration week and the markets began a massive rally. The low print on the S&P that Monday July 12th was 875.81. In just six trading days the SPX made a new closing high of 951.13. This is a move of over 8 percent and everyone is talking about green shoots again. Did you really think the shorts and the buyers of put options were really going to cash in that easily? What changed all of the sudden? What happened to retesting the lows?
In the world of trading and investing there is an old saying that should be remembered, 'the best moves come from failed moves'. Therefore, when the media or the so called market mavens are talking about a breakdown or breakout pattern to the world, rarely will you see that pattern play out. The market never does what the crowd expects. In just six short days green shoots are back and sprouting everywhere. The market has fully recaptured a full months worth of declines in less than seven trading days. The media and its talking heads are once again wearing their bull costume. Dow 10,000 is being proclaimed on every channel on the tube. I want off this bullish train ride, something stinks. What a difference a day makes!
Nicholas Santiago,
InTheMoneyStocks.com
As of today, everyone is proclaiming the March lows have successfully been tested and the new bull market has begun. On June 11th, the market made an intra day high on the S&P at 956.23. Everything was rosy on Wall Street again. The new administration was in charge and radical change was taking place. The market seemed to have accepted the new regulations that the new leaders were putting into place. On the surface, it really appeared the President Obama's stimulus plan was working and perhaps the world can print their way out of this financial crisis. The previous administration tried three separate stimulus plans only to see more problems occur. The money seemed to have been wasted. Oil was soaring once again, as it felt like 2007 all over again. Is it really different this time? Can they really inflate this economy back to health?
On July 7th, the talking heads in the media were all proclaiming a head and shoulders top was in place and the market should decline down to the 820 level on the S&P and perhaps possibly test the March lows. On July 10th, I heard the average person talking about a 'head and shoulders' top. Head and shoulders are extremely bearish patterns. These same people who were talking about the head and shoulders top, just days before, thought it was a shampoo developed by Proctor and Gamble. All of the sudden, everyone was a market technician and an expert chartist. What happened to the green shoots from June 11th? After all, this was the first correction since the market bottomed on March 6th at the low of 666.79. It is sometimes comical how people expect things to go straight to the moon without a retrace or pullback after a 40 percent rally. This just is not the way that markets function.
On July 10th, after a one month pullback, the market seemed to be floundering. The crowd was in on the short side eagerly awaiting the big decline. The following week starting July 12th-17th was options expiration week and the markets began a massive rally. The low print on the S&P that Monday July 12th was 875.81. In just six trading days the SPX made a new closing high of 951.13. This is a move of over 8 percent and everyone is talking about green shoots again. Did you really think the shorts and the buyers of put options were really going to cash in that easily? What changed all of the sudden? What happened to retesting the lows?
In the world of trading and investing there is an old saying that should be remembered, 'the best moves come from failed moves'. Therefore, when the media or the so called market mavens are talking about a breakdown or breakout pattern to the world, rarely will you see that pattern play out. The market never does what the crowd expects. In just six short days green shoots are back and sprouting everywhere. The market has fully recaptured a full months worth of declines in less than seven trading days. The media and its talking heads are once again wearing their bull costume. Dow 10,000 is being proclaimed on every channel on the tube. I want off this bullish train ride, something stinks. What a difference a day makes!
Nicholas Santiago,
InTheMoneyStocks.com
wallstreet1928
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Only just seen this so quick reply. On H4 (I'm on UWC MT4 right now not IG, not sure if exactly the same?), intermediate term trend is up , short term trend (bias) is down, confirmed by the break of that inside bar @18:00 , here's a pic. If the last bar takes out the lows we got a short term high (hence the arrows)
P.S. Its late there may be errors in that chart ?
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