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

[wallstreet1928]

i am long nasdaq 1720 ..stop loss 1695

 

[wallstreet1928]

i am long cable 1.6452 ...stop loss 1.6422

target 1.6482

 

[SabreTT]

Does that SPX trend chart mean we should short from 1066 possibly, ie. its resistance now

Just looking on the 5 min chart, 1066 does look significant today, spy pivot is 106.8

Sabre: what is the link for INO?

Just google ino and it should be first or second link, hopefully should be true for anything I mention as just one word or an abbreviation


This is the free bit I think Ive watched before - http://club.ino.com/courses/form/

But on the main page they list trade triangles which sounds a bit like what you mentioned. Some preview is given and then theirs a club for the regular calls i guess.

 

[wallstreet1928]

i am long cable 1.6452 ...stop loss 1.6422

target 1.6482

amend to break even

 

[Dentalfloss]

not much of a breakdown on the s500
5 min data

 

[Dentalfloss]

the target fom the main down thrust column at the top is 1056

 

[Dentalfloss]

nas 100
5min gives 1707 area.
the downhrust column from the top is short so what the p/f is saying is that the bears were feeble

 

[madoff]

am short S&P at 1075.33 with stop at b/e.

I was hoping this would tank completely today but it hasn't

 

[Dentalfloss]

upward trend is too strong

 

[Dentalfloss]

its easy to see with p/f.the downthrust columns are small,compared to the upward

 

[PaulHClark]

Dentist I am out

 

[PaulHClark]

The Bulls still have it

 

[masnachu]

Thanks for your answer Mas.

It makes me think I will start looking at the dailies everyday, instead of occasionally, and start using 4h instead of 3h for direction. As I was saying to the lapster ( as we both use h3 ), we are potentially in a little h3 bubble, which could be bad!

Which timing method do you use btw? I have used fib 1.618 expansions in the past, and also I've used Lucky 21 as per HWSTeele's timing forum. I prefer Lucky 21's, they seem to work very well most of the time, if used in conjunction with PA for signals.

Might be worth having a looking at the dailies. The way I look at it is, I'm looking at trends or price moves in a higher TF than I'm trading (setups in either FTSE H1 or Forex H4 etc ), so if I get the daily/weekly analysis right , there's a bigger trend/price move helping my trade along, Well that's the theory anyway. I think that's the most important point , rather than which particular TF , so you could use H4 as your higher TF for analysis and use for M15 setups with M5 triggers (or which ever trading method your using) as an example.

Couldn't say about H3 (MT4 hasn't got that TF , I avoid IG charts, waste of space IMHO)
as always, just experiment , just see what turns up.

Timing : It started based on the work by Bressert (The Power of Oscillator/Cycle Combinations, there's also an outline of his stuff in Murphey ). Only very loosely based on his work now though , just his most basic ideas on the structure of cycles (I don't use indicators). I Only time lows , while there are various ways to time highs , I found they don't seem to be as reliable as lows.

Yes I signed up to HWSTeele's group as well when he first started it, haven't checked it for a month or so though (there wasn't much going on there , he was busy I think) , so I'll check it out sometime over the next week or so.

 

[dr.blix]

as a reply to a reply, i still use lucky 21's...i love using them actually.

when you get the feel for where they should begin (the triggering candle/bar) they can often be spookily on target.

i haven't been on HW's thread for ages...it's about time i resumed my education.

re TF's, i read that corresponding TF's must be divisible by 4.

so:

H4 + H1
H1 + 15m
Daily + H4

for equities i use: weekly - daily - H4 - and H1 for entries.

if i read correctly, the same principle as mas...i try to get as many as possible of these TF's in sync.

 

[wallstreet1928]

US DOLLAR ..........WHEN WILL THIS FREE FALL END


It has been another volatile session in the foreign exchange market with the U.S. dollar fighting for survival. Although the greenback fell to a new twelve month low against the euro and thirteenth month low against the Australian and New Zealand dollars, it has put up a good fight. A look at the intraday charts reveals that the battle has been tough. The dollar strengthened significantly after the initial set of U.S. economic reports but then gave back its gains when the U.S. equity markets opened. Around lunchtime, dollar bulls tried once again to bid up the currency and the results were good if you traded anything outside of the EUR/USD because the British pound, Japanese Yen and commodity currencies ended well off their highs.

Dollar: Time for a Rally

We continue to believe that the short dollar trade is getting crowded and are convinced that tomorrow’s Commitment of Traders report from the CFTC will reveal that dollar shorts hit extreme levels. This means that the dollar is prone for a relief rally and we already beginning to see this happen in some of the major currency pairs. However the currency market is not the only place where we are seeing momentum fading. U.S. stocks ended the trading day lower, sparking speculation that the rally in the equity market may have run its course. Yesterday we talked about the impact of the dollar on the equity markets, but it is also important to mention how equities impact currencies. When the market is trading off risk appetite, a rally in equities is usually positive for the higher yielding currencies like the euro and in turn negative for lower yielding currencies like the U.S. dollar and Japanese Yen. We believe that a test of 10,000 in the Dow is still likely and we continue to expect the dollar to fall, but not before a further relief rally.

Economic Data: Weakness beneath the Headlines

There was a great deal economic data on the U.S. calendar today but unfortunately mixed reports failed to increase the conviction of traders who may be favoring a sustained recovery or a double dip recession. Housing market numbers continue to reflect a gradual recovery in the U.S. economy with housing starts and building permits increasing. Jobless claims rose by the smallest amount since July but the improvement was offset by a corresponding rise in continuing claims. The Philadelphia Fed index rose to the highest level since June 2006, but the increase was driven almost entirely by higher prices. The employment, future and new orders subcomponents all declined which reflects weakness beneath the headlines. This indicates that even though the U.S. economy is improving, the recovery is uneven and bumpy. There are no U.S. economic reports due for release tomorrow which means that currency traders will be taking their cue from equities.

 

[wallstreet1928]

ASIAN SESSION

can we penetrate and remain above this trend line

I think not?

i will certainly find out in the morning

 

[masnachu]

as a reply to a reply, i still use lucky 21's...i love using them actually.

when you get the feel for where they should begin (the triggering candle/bar) they can often be spookily on target.

i haven't been on HW's thread for ages...it's about time i resumed my education.

re TF's, i read that corresponding TF's must be divisible by 4.

so:

H4 + H1
H1 + 15m
Daily + H4

for equities i use: weekly - daily - H4 - and H1 for entries.

if i read correctly, the same principle as mas...i try to get as many as possible of these TF's in sync.

Yep same principle, can be a head boiler at times , trying to relate the different TF to each other , esp when they start twisting and turning.

One thing I meant to say was , I use a 'split screen' , M15 & H1 side by side on the workspace, or H1 & H4 , H4 & Daily etc really helps to keep things in perspective.

Not sure they must be divisible by 4 , I use M10 and H1 on FTSE, have tested with M15 , doesn't really make a difference. Sometimes M10 will show up stuff that M15 doesn't , sometimes it's the other way around. Think mainly it comes down to personal pref after testing various TF combo's. (with MT4 you haven't got a lot of choice really , just the preset TF's , not really it's best feature)

What's this Lucky21's you both mentioned? Haven't heard of it , I'll read anything once , you never know, maybe provide some ideas.

 

[wallstreet1928]

nice gap down on shangahi

but we should get a bounce here

if we fail then we go down to 21300

 

[Dentalfloss]

hi ws
how are you
youre sleep patterns must be really screwed up..i think

 

[Dentalfloss]

cable
starting to look very bearish
15 min data