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

[Geofract]

All is well thanks Geo.

How's the bias change strat working out for you?

The bias change thing is great, i really like it, it is simple, and it works. My trading partner-in-crime, the Lapster, has been doing some good work with pivots and fib confluence, which is really helping the strategy too.

I had a tough week last week, but that was more a result of my scale out rules, which is a whole other conversation. It wasn't fun though!

This week is good so far, but I still can't help wondering if it's possible to make real money with trading. It ain't easy as we all know

 

[wallstreet1928]

IF I were day trading and not punishing my EGO

I would expect FTSE to hit 5160 region and then falter

why?

1. retrace of 61.8% from high of 5191 .... and prev low of 5105
2. downward sloping trend line

down side target would be 5070 and then we rally upwards again

Alternative scenario is FTSE just keeps going and puts a in a double top @ 5191

This market is just too strong at present, buyers just keep coming back in

I am buying marks and spencer today on weakness for a long term target of 415

Although the 23.6% retrace from low of 4773 is holding well @ 5092

 

[Dentalfloss]

IF I were day trading and not punishing my EGO

I would expect FTSE to hit 5160 region and then falter

why?

1. retrace of 61.8% from high of 5191 ....
2. downward sloping trend line

down side target would be 5070 and then we rally upwards again

Alternative scenario is FTSE just keeps going and puts a in a double top @ 5191

This market is just too strong at present, buyers just keep coming back in

I am buying marks and spencer today on weakness for a long term target of 415

ws...are you buying mks shares or their underwear..??

 

[Dentalfloss]

fed said last night it would pump less money.
market reading it as bearish

 

[Geofract]

Sweet trade :clap: , well done

Caught thinking the wrong way on £Y , EY ok though. ( Yes I did wonder how the hell long one and short the other against the Y was going to work, I have my answer )

I know exactly what you mean - i was fairly certain £Y had more upside yesterday, so I scaled out 2/3rd at +45 after FOMC - that would have been a ruddy lovely trade with the full position!

EY short bias on H4 now, so I am looking for fib retrace entries around 134.28 and above, if she gets there. Infact I am waiting for a lot of yen pairs to setup in a similar way - AY, SwissyY, CY.

Which other pairs are you trading apart from EY £Y Mas?

 

[Dentalfloss]

if anybody wants the full copy,then email me
[email protected]

 

[Dentalfloss]

net paydown is 44bill this week for the fed.bullish for stocks according to the wallstreet examiner
next week,they take away 56billion.so going the other way

 

[madoff]

Technical analysis video on FTSE and Gold

A few days old but seem quite good ...

Video - CNBC.com

 

[Geofract]

This week is good so far, but I still can't help wondering if it's possible to make real money with trading. It ain't easy as we all know

I guess that last comment might sound a little crazy when I made lots of pips recently, but still i wonder if I can make this work. I'll have to post my scale out rules for others too see, because that's what really hurt my trading last week, and it would be good to have some input from others on these rules if poss.

 

[Chelski]

Big day for cable today. Will it hold the lower level? Downside could be as low as 15500 level.

 

[Da.DesiTrader]

long at 5140, as it is acting as support now, on 3M chart

 

[Da.DesiTrader]

long at 5140, as it is acting as support now, on 3M chart

Amended to B/E

 

[Da.DesiTrader]

Amended to B/E

Stopped out at B/E, now market goes uppity up!

 

[Manya1983]

Jobless claims decrease. Should push markets up.

 

[Da.DesiTrader]

Let's bring 1st September style response to good news

 

[masnachu]

I know exactly what you mean - i was fairly certain £Y had more upside yesterday, so I scaled out 2/3rd at +45 after FOMC - that would have been a ruddy lovely trade with the full position!

Yep , know that feeling, never does you any good thinking like that though. The important thing is , as I'm sure your aware, you 'behaved' correctly with regards to the trading plan and long term series of trades type thing. You know there's going to be times when the above saves your **** :cheesy:

EY short bias on H4 now, so I am looking for fib retrace entries around 134.28 and above, if she gets there. Infact I am waiting for a lot of yen pairs to setup in a similar way - AY, SwissyY, CY.

Which other pairs are you trading apart from EY £Y Mas?

Only trading £Y and EY (and FTSE) , ($Y weekly is totally confusing me , so until I get some ideas, I'll keep watching only). Cable is one I'm thinking of looking into properly next , although it will be in a few weeks time after I've got 'used' to trading EY along side £Y & FTSE. I've have to try and get to 'know' a market a little before I can trade it properly. I have also found I have to add one market at a time , otherwise I find it's easy to get overloaded and end up not having a clue what to do with any of them. Remember I don't really trade with pre-defined setups , I tend to analyse the market moves etc (aka Wing it ) it takes time, not saying it's the right way to do it, just it's what I need to do it in order to trade)

 

[Da.DesiTrader]

WS: how the hell do you do that?

So it failed to top 5160, now we should expect 5070?

 

[wallstreet1928]

IF I were day trading and not punishing my EGO

I would expect FTSE to hit 5160 region and then falter

why?

1. retrace of 61.8% from high of 5191 .... and prev low of 5105
2. downward sloping trend line

down side target would be 5070 and then we rally upwards again

Alternative scenario is FTSE just keeps going and puts a in a double top @ 5191

This market is just too strong at present, buyers just keep coming back in

I am buying marks and spencer today on weakness for a long term target of 415

Although the 23.6% retrace from low of 4773 is holding well @ 5092

market falters @ 5160 as expected ............

If i were trading my 1st target on the downside would have been gap fill at yesterdays close @ 5139...which the market has already hit and target would have been achieved

I gave live market analysis to the people I was mentoring today and they will testify. They really enjoyed it and it helped them to understand the market.

I still have January February and March available at present so please do PM if interested. If you want to do it urgently then I'm sure we can work something out and I can try and get 2 people per month.

 

[wallstreet1928]

WS: how the hell do you do that?

So it failed to top 5160, now we should expect 5070?

DO what my friend ........

 

[lapalabra]

Guys am i being ignored. That's alright - I can take the hint.

I'm not ignoring you, just only drop into the boards infrequently these days so i can concentrate on some original thinking!

I don't know what you mean by the 4h pullback bar low? However, I was actually responding to you when you posted about considering a short. At the time when I looked at EURGBP it had just past the monthly r2 @ 9083 - which had put a cap on eurgbps weekly highs, and was just above the day's R2. Basically bulls have it, don't even consider shorting.

Now however, if you really are of a shorting mentality, there are two wonderfully clear trendlines running from august highs/august 27 high and june highs that intersect near our current high. Out current high now is also the week's R1. I just won't be shorting this pair until it starts ranging, which it will at some point.

You got out with some profit though, so its all good.