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

[lapalabra]

I think it looks like a safe entry. Especially with the MA20 hovering just above it.

Only concern is that US might come in heavy and whack us out for break even again. I think the consensus at the momment is for the market to trade sideways, until later on in the week when we see Exxon and the US GDP figures.

Those are the biggies yeah - just wanted a piece of the morning trend which I took and this sideways action will slowly eat it away if I stay here!

Annoying that I saw that lower tl forming and a move at least up to the 50ma I saw as most likely after an hours falls, still walked right into trading the opposite dizzy with morning success.

 

[london_lad]

So who thinks the theory of 1400 would/could work?

 

[masnachu]

£Y struggling @ 156.90 I think. Despite the up move in the asian session, I would favour shorts, below 156.41. All the cross rates I am watching seem directionless though tbh, and not much to jump on board.

£Y yes, last short term swing h on H4. Dailies are bothering me a little on that pair right now, still watching. Pos Int H on H1 forming , need to see a lower swing H.

£ looks weak against other pairs $ and Y (haven't really looked at E£)

 

[Manya1983]

Short at 4594. 15 SL.

 

[lapalabra]

£Y yes, last short term swing h on H4. Dailies are bothering me a little on that pair right now, still watching. Pos Int H on H1 forming , need to see a lower swing H.

£ looks weak against other pairs $ and Y (haven't really looked at E£)

Um, said I was off, but USDCAD looking interesting for a decision on that 10815 sup? we break below, which is likely, that opens up pippage?

Taking lessons from previous break on 24 Jul a retest to confirm first, but I have 10720 and below as targets?

EDIT: moving now, round number monster 18000

 

[london_lad]

Weaker the £, stronger the FTSE.

 

[SuddenDeath]

RSI/5 gave an excellent buy signal at 4577 time 10.30am

 

[Geofract]

Good thing I cancelled that swissy order! E$ on the move.

 

[london_lad]

Short at 4599, SL 15, Target 20 (or scalp)

 

[Manya1983]

Think you got a decent entry there LondonLad. I was waiting and watching for 4600 but got itchy fingers!

I've heard slippage is quite bad on IG when you have pre-set orders, anyone know how much it usually is? Looks like it might be cheaper for me to absorb the slippage as opposed to going in too early anyways. In this instance it looks like I've lost out on 5 points.

 

[masnachu]

Um, said I was off, but USDCAD looking interesting for a decision on that 10815 sup? we break below, which is likely, that opens up pippage?

Taking lessons from previous break on 24 Jul a retest to confirm first, but I have 10720 and below as targets?

EDIT: moving now, round number monster 18000

haven't really spent any time on $CAD, but that daily low 1.0784 1st june would be putting me off shorts, could all get messy around where $CAD is ??????

 

[Manya1983]

Closed FTSE for 4.5 points. No reason for closing apart from the fact that I didn't like my entry.

 

[Manya1983]

Short GBP/USD @ 16500. 25 SL.

Hopefull we can see some overhang from Fridays GDP data whilst FTSE floats lower.

 

[masnachu]

haven't really spent any time on $CAD, but that daily low 1.0784 1st june would be putting me off shorts, could all get messy around where $CAD is ??????

at the area now , good breakdown so far.

 

[SuddenDeath]

has anyone here considered using a Bond filter in their trading ?

 

[lapalabra]

at the area now , good breakdown so far.

I was over shorting the ftse so didn't get involved, although not much has changed - still around 10800 but well left alone, I've made enough today, need a haircut and its sunny

 

[lapalabra]

Closed FTSE for 4.5 points. No reason for closing apart from the fact that I didn't like my entry.

Manya - if you don't like your entry but you feel you have the right direction, do you give up the whole trade, sacrificing any entry at all?

 

[wallstreet1928]

I am also short Marks and spencer 338 .........stop loss 343

target 333

target hit and profit secured

 

[Manya1983]

Manya - if you don't like your entry but you feel you have the right direction, do you give up the whole trade, sacrificing any entry at all?

I wouldn't usually but in this instance as I've redeemed most of my account (not wanting to give up recent gains) I'm working with a small capital base. Therefore I want to make sure any stops I have in place are sufficient.

In this instance I would have bagged more profits as FTSE has moved lower by a further 15 or so points but my discipline really sucks and thats what I'm trying to teach myself.

 

[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

1st target on the downside just about to be hit or can we form double bottom @ 4570?