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

[TomTom]

Seen some brilliant upward moves since March.
We have just gone through the first two weeks in September which is historicaly bullish.
With USA futrues showing big declines in my opinion we break below 4900 by Wednesday.

 

[london_lad]

WS: would you add to your short, or wait to see how that trade pans out (ie, either gets stopped or reaches your target, or you get out with small profit because you dont like price action if its too slow or something)?

 

[dr.blix]

if you're bored (like me...) take this fun quiz...

Female or Shemale. A photo quiz by Rob Manuel / B3ta.

 

[dr.blix]

i think we'll drop to 4900 over the next 3 days

in my opinion we break below 4900 by Wednesday.

intersting tomtom, lets see if we're right ey?!

i have a support @ 4875.

 

[lapalabra]

if you're bored (like me...) take this fun quiz...

Female or Shemale. A photo quiz by Rob Manuel / B3ta.

Got them all right.

Of course I am drinking tea in a well lit room, not in an alternative scenario where it could be difficult, lets say, drunk on Chang beer in central bangkok after losing my mates and stumbling into a very dark bar where I was offered free entry and two shots before the lithe shadowy dancing shapes swam into vision and the balmy heat more beer no no more please noooo

....alwayschecktheadamsapple,alwayschecktheadamsapple...

....another pill please doctor...

ooooh the flashbacks.

 

[wallstreet1928]

WS: would you add to your short, or wait to see how that trade pans out (ie, either gets stopped or reaches your target, or you get out with small profit because you dont like price action if its too slow or something)?

rule : never add to your short position unless you are going to hedge yourself

I have contemplated opening up long positions on DAX in order to hedge myself as FTSE looks like it will hit double top @ 4984

BUT my analysis tells me that OIL is heading for a big plunge ..........well below $68

and that is going to force the EURO down too as they trade in tandem

 

[london_lad]

looking to double my short if 15 m candle closes below 70 on RSI 4

 

[london_lad]

Oops just saw your advice. But if I go long on DAX right now, I can get stopped out at 4992, and then my long on DAX will go negative, lose on both ends. What would be your strategy to get out of that hedge pickle?

 

[dr.blix]

are hedge pickles nice on cheeseburgers?

 

[dr.blix]

Got them all right.

Of course I am drinking tea in a well lit room, not in an alternative scenario where it could be difficult, lets say, drunk on Chang beer in central bangkok after losing my mates and stumbling into a very dark bar where I was offered free entry and two shots before the lithe shadowy dancing shapes swam into vision and the balmy heat more beer no no more please noooo

....alwayschecktheadamsapple,alwayschecktheadamsapple...

....another pill please doctor...

ooooh the flashbacks.

i only got 3 quarters right...i'd better stay away from the far east.

 

[wallstreet1928]

Oops just saw your advice. But if I go long on DAX right now, I can get stopped out at 4992, and then my long on DAX will go negative, lose on both ends. What would be your strategy to get out of that hedge pickle?

If you are going to hedge yourself then you must cancel your FTSE stop loss ...

you must have a smaller stop loss on DAX for e.g. 20 points!!

I will certainly go long on DAX if FTSE trades above 4984 ....

hedging must only be done if the overall trend is down/up

in other words you only think the upward/downward move is temporary such as today

 

[lapalabra]

Here's the £Y daily chart , any Q's just ask as always.

Rings bars is the name that larry williams uses for STH & STL.
(from his book "Long term secrets to Short Term trading"). I did create a post for Geo a month or 2 back about these ring bars (the arrows phil uses on his price action article)

PS agree on the ranges of some of these pairs, It's one thing I check on before spending any time on them, my view is , if your going to put the effort in , may as well be with something thats got some welly behind it (its not like the risk is that much less on these smaller pairs that you can increase position size to compensate)

Mas,

Really, really like that chart - a thing of (well constructed!) beauty.

The 15,134 level to give confirmation of bias change to downswide was given on Friday, and naturally the pull back to that level gave the best of entries which, as it was friday (weekend carry charges) I didn't want to take. We are now 130 pips further along in the songbook, but having missed out on all the fun at asian open on yen, now have to wait patiently for short entries - on this and other yen crosses.

 

[london_lad]

Second top at 4981, we reckon?

 

[wallstreet1928]

I have been asked by a woman called Karen to post my analysis on Benzinga.com
wallstreet1928 | Benzinga.com

I think its an up and coming financial website that seems to have some promise.

I will certainly remain here with all you lovely folks whilst duplicating my posts @ benzinga.com

It just gives me the ability to store my charts and go back to my posts, I get lost here sometimes as we do have a lot of activity.

 

[dr.blix]

i have a 'volatility' theory...

look at a H1 FTSE chart from the july low.

the volatility is increasing exponentially.

extrapolate this pattern...it potentially signals a large correction.

any thoughts?

 

[lapalabra]

I have been asked by a woman called Karen to post my analysis on Benzinga.com
wallstreet1928 | Benzinga.com

I think its an up and coming financial website that seems to have some promise.

I will certainly remain here with all you lovely folks whilst duplicating my posts @ benzinga.com

It just gives me the ability to store my charts and go back to my posts, I get lost here sometimes as we do have a lot of activity.

Nice to see your profile growing after all the good work, WS, just remember *this* is your home

 

[wallstreet1928]

my short @ 365 is still alive

its been over a week now I think

 

[wallstreet1928]

Nasdaq failed @ previous support ???????

support = resistance

 

[lapalabra]

Cable now @ 16,533, 50% retrace from 11 sept high and 8 sept low

EDIT: long there from 16,541 - Chelski, this is bang on your trendline and 50% retrace

 

[london_lad]

Ws, have you gone long now? I am going to go long DAX, try out your strategy.