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

[masnachu]

need to organise myself with the currency pairs a bit better too, watching 3-4 TF's on each , bit of an head boiler if your not carefull.

50% is often an important area , don't trade off fibs (38.2,61.8) myself (although I'm aware of those reas on the charts).

156 might be a bit high for me, takes out too many short term swing highs , although we havent had an INT swg high on H1 yet (had Int low 1600 on Fri, which £Y traded through and turned around from tonight), if it forms around 156 , I'll have too hold off from lower TF shorts for a while see how things act.

this is going to be it from me tonight, I've about had it , going to end up doing do something stupid if I stay up much longer will have to see what's what tomorrow.

see you tomorrow Geo.

 

[Geofract]

Cheers Masnachu. See you 2 morow.

 

[kaisen]

Gap up

Are we really expecting a gap up of around 1.4% on the FTSE as indicated by the SB´s?

4638 was year high in January?

 

[SuddenDeath]

good morning everyone

 

[SuddenDeath]

High frequency trading systems are proprietary computer programs whose automated algorithmic software initiates trades with the goal of collecting rebates from the exchanges and/or detecting institutional order flow, and then execute buy/sell orders ahead of that flow.

These programs are designed to automatically front run investors. They have an information advantage, and they unnecessarily increase volatility, cause retail and institutional investors to chase artificial prices, make markets less efficient and systematically transfer wealth away from ordinary investors.

They also have a huge market share, and thus often dominate the market and determine its direction. Their hidden cost adversely impacts the financial well-being of all of us.

 

[papak]

Good morning. Or better make that just morning.
Needless to say stopped out of FTSE my short, and stopped out of Gold too.
Not a great start of the week.

 

[wallstreet1928]

Are we really expecting a gap up of around 1.4% on the FTSE as indicated by the SB´s?

4638 was year high in January?

I think the gap is unwarranted, I beleive one can scalp a quick 10-15 points here ..........

Oil $68.8...........my analysisi last night stated big resistance area........also Euro resistance area @ 1.4250

So I have shorted FTSE 4636 ....stop loss 4656

target scalp ........

but i will amend to B/E immediately as this could really rip up

 

[lapalabra]

good morning everyone

Morning SD and room - do we have a dbl top on the DAX?

Short as per my ORB shenanigans on EURGBP, entry @ 8644 (@GEO - obeyed PNs rules a bit better this time, range at area of price close yesterday, 2m pullback)

USDCAD looks like it should be traded Long to the top end of the 15M or Daily channel, or reverse the trade on a retest of the 10800 low if it breaks that?

 

[london_lad]

Morning everyone. I got stopped out on my short on FTSE at 4630

 

[lapalabra]

I think the gap is unwarranted, I beleive one can scalp a quick 10-15 points here ..........

Oil $68.8...........my analysisi last night stated big resistance area........also Euro resistance area @ 1.4250

So I have shorted FTSE 4636 ....stop loss 4656

target scalp ........

but i will amend to B/E immediately as this could really rip up

I did exactly this as well as soon as I saw DAX spike and fall back for potential dbl top on opening - that gap is over the average daily range of ftse last week, it is worth shorting. My short @ 4632

 

[lapalabra]

Morning SD and room - do we have a dbl top on the DAX?

Short as per my ORB shenanigans on EURGBP, entry @ 8644 (@GEO - obeyed PNs rules a bit better this time, range at area of price close yesterday, 2m pullback)

Out EURGBP +2, don't see any strength to move past bottom of this channel on the 4h, providing support

 

[lapalabra]

High frequency trading systems are proprietary computer programs whose automated algorithmic software initiates trades with the goal of collecting rebates from the exchanges and/or detecting institutional order flow, and then execute buy/sell orders ahead of that flow.

These programs are designed to automatically front run investors. They have an information advantage, and they unnecessarily increase volatility, cause retail and institutional investors to chase artificial prices, make markets less efficient and systematically transfer wealth away from ordinary investors.

They also have a huge market share, and thus often dominate the market and determine its direction. Their hidden cost adversely impacts the financial well-being of all of us.

I have an interview with a company tomorrow for a job selling the order routing and best execution service as part of this kind of program. Does this make me a bad person? :|

 

[london_lad]

IG Markets is cheating? The spread b/w Buy and Sell on their CFD platform has increased from 2 pips to 5 pips now.

 

[london_lad]

lapalabra: best of luck

 

[kaisen]

IG Markets is cheating? The spread b/w Buy and Sell on their CFD platform has increased from 2 pips to 5 pips now.

The spread increases on all SB platforms during Out of Hours (OOH)

 

[kaisen]

WS - shorts from Friday?

Do you still have your shorts open from Friday ws?

 

[lapalabra]

Are we really expecting a gap up of around 1.4% on the FTSE as indicated by the SB´s?

4638 was year high in January?

I think that year high will be important today, and another reason for my short pre-open - I could not see price remaining above that year high OOH and over the ftse daily range from last weeks close

 

[wallstreet1928]

Do you still have your shorts open from Friday ws?

SHORTS???????

Oh yes I remember now...........I went short 4595 ...stop loss 4645

I amended to B?E after when in profit of 20 points....but my stop loss at B/E got triggered

I always close my trades 99% of the time by close of play.......

the only short I have open is MArks and spencer ....short 338 ..stop loss 443
target 333.........I think I can kiss that target goodbye now...haha

 

[wallstreet1928]

I think the gap is unwarranted, I beleive one can scalp a quick 10-15 points here ..........

Oil $68.8...........my analysisi last night stated big resistance area........also Euro resistance area @ 1.4250

So I have shorted FTSE 4636 ....stop loss 4656

target scalp ........

but i will amend to B/E immediately as this could really rip up

As Bruce Willis would say ............

Yippikayay ..........I won't say the second word...haha!!

closed for 23 points profit ...........

cracking start to the mornings play.....

 

[wallstreet1928]

FTSE...............wretched FTSE!!

1 wekk 10 min chart

what can we discern from its peaks and troughs....

Key level 4608 .....pivot R1

strategy for Monday

> 4608 - I will go long 1st target 4630 ....amend to B/E , 2nd target 4680

< 4608 - I will keep playing the short game with stop loss @ 4610 ........... 1st target 4560 , 2nd target 4540, 3rd target 200 MA


external variables I will keep an eye on

GBP /USD ..........

EUR /USD ...........1.42 LEVEL...break of that and bias is on the downside as it pulls oil down,causing oil related stOcks to fall such as BP

OIL - 58.8 level .............strong resistance ........big gap gill window 58.8 - 59.9 !! I will be very suprised if that can fill the gap, EURO has to break above 1.43 if it does

now after that bit of fun in the morning lets go back to my trading plan.........

4608