Wallstreet1928 Analysis & live calls on FTSE,DAX,S&P...aimed to help New traders
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Cheers WS,
My main take away: 90% of the time a move above the upper trendline will return back - most amateurs treat this as a breakout, when you should be looking to fade the move back into the channel.
11.10 - 11.40am Jul 20 FTSE an example?
Long EURGBP @ 8668 (@ Manya, this is a case where I should have rolled this market over maybe)
Looking for a long EURUSD on a break over 14250, target 14300 - I have this pair in a squeeze now between res @ 14233 and a lower trendline. Break below will look for retest of this TL and play it from there.
PS. That CADJPY is looking sweet
Looking for a long EURUSD on a break over 14250, target 14300 - I have this pair in a squeeze now between res @ 14233 and a lower trendline. Break below will look for retest of this TL and play it from there.
PS. That CADJPY is looking sweet
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Dentalfloss
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30 year treaury.yield i ndex went down after bernanke speech.prices up..not good for stocks
SuddenDeath
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good morning everyone
Good morning. Any words of wisdom this morning?
Good morning there, i must say that i now wish for this rally to finish up because i don't really see the sense in it and i am taking a beating on the alsi index on my swing possition which does not help my mood and its making me bais to short positions
Morning SD - outlook? Now beneath yesterdays close.
Morning lapster
Dont understand your long position there? it was breaking down through the lower trend line and also put in a double top on the 10 minute chart.**BW81 - messed up chart settings, proper game plan below!**
10M bar closed solidly under lower TL (violation)
We opened above yesterdays close but are now beneath and testing pivot @ 4474.
Move beneath this we run into res and yesterdays low of '72, looking for shorts from there down to S1 @ 4445.
May enter earlier if we do not print an ascending candle on 10M and move below pivot.
10M bar closed solidly under lower TL (violation)
We opened above yesterdays close but are now beneath and testing pivot @ 4474.
Move beneath this we run into res and yesterdays low of '72, looking for shorts from there down to S1 @ 4445.
May enter earlier if we do not print an ascending candle on 10M and move below pivot.
Morning lapster
I was messing with the wrong chart, forgot I left out of market hours on - stupid stupid.
Now I am back on plan, just posted it.
dr.blix
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morning campers,
closed 477 for + 17 pts (and that was for 'real money'
)poss closed that too early, looks like 461 could be on the cards, but hey.
morning campers,
closed 477 for + 17 pts (and that was for 'real money'
poss closed that too early, looks like 461 could be on the cards, but hey.
Good stuff DB
OK understand, Ive done that before, the out of hours data squues your charts somewhat.
Update on my position from last night, I got took out on my stop for +20 points, and I re-entered at 4500 with another 30 point stop. and have just now moved my stop down to BE.
We need to watch out for US market taking this back up later as Apple posted strong earnings after hours.
morning campers,
closed 477 for + 17 pts (and that was for 'real money'
poss closed that too early, looks like 461 could be on the cards, but hey.
Actually, I'll criticise, why not
Why didn't you hold!! By the time you closed you had all that lovely res above you, were beneath yesterdays close (so you got through the hard part) and a downward bias with enough fat in the trade to at least weather it if price moved back up above!
Closing early, my problem entirely.
SuddenDeath
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We have filled morning gap, this makes a close above
..4506 unlikely (+25)
I would have said to be long above 4482 and stop and reverse at 4479.
if the high 4493 isn't breeched look for market to move below 4440 (high 4493 minus average range 50 = 4440 as min target)
..4506 unlikely (+25)
I would have said to be long above 4482 and stop and reverse at 4479.
if the high 4493 isn't breeched look for market to move below 4440 (high 4493 minus average range 50 = 4440 as min target)
Jumped the gun, but as it happened we did not print that ascending candle - short now @ 4474, s/l 4494 - target 4445
dr.blix
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Actually, I'll criticise, why not
Why didn't you hold!! By the time you closed you had all that lovely res above you, were beneath yesterdays close (so you got through the hard part) and a downward bias with enough fat in the trade to at least weather it if price moved back up above!
Closing early, my problem entirely.
you're absolutely spot on. i make some shonky decisions at the best of times, but i'd just got up, so i don't think that helped. got nervous when it hit my 2 res levels @ 733-35, saw my 125 MA sitting right on my 735 too and just panicked when i saw a little bounce.
in my defence i did at least move my stop to BE first...(for about 10 seconds!! :-0)
AAAARGH...WHEN WILL I START TO BE A GOOD TRADER?!!
i shall make a shrine in front of my computer and sacrifice chickens to the FTSE gods...that'll sort it
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