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

[TZ Futures]

FTSE 100 (Cash Levels for today)

FTSE 100 (Cash Levels for today)
Update 07:30 GMT
Current Level: 5054
Support: 4992, 4950, 4906
Resistance: 5109, 5173

I will now highlight important levels underlined as above. If these break expect a huge reaction.

Volatility Index rose by another 3% yesterday, making these markets extreme conditions to trade in. Although the overall picture is still down, our resistance levels get hit before reversing again. I am neutral to bearish at this stage and will still close any long positions and go fairly short on any strength today.

Below 4950, its totally bearish.
Above 5173, its bulls all the way.

 

[wallstreet1928]

WS are you going to post your FTSE analysis on Benzinga this am? It would be much appreciated.

Here you go my friend

I have updated benzinga with S/R levels for today
http://www.benzinga.com/users/wallstreet1928

thank you

 

[SuddenDeath]

morning everyone, has anyone looked at the correlation between dollar pound and US markets

 

[pentlow1]

Here you go my friend

I have updated benzinga with S/R levels for today
http://www.benzinga.com/users/wallstreet1928

thank you

Many thanks WS.

 

[wallstreet1928]

FTSE 100 (Cash Levels for today)
Update 07:30 GMT
Current Level: 5054
Support: 4992, 4950, 4906
Resistance: 5109, 5173

I will now highlight important levels underlined as above. If these break expect a huge reaction.

Volatility Index rose by another 3% yesterday, making these markets extreme conditions to trade in. Although the overall picture is still down, our resistance levels get hit before reversing again. I am neutral to bearish at this stage and will still close any long positions and go fairly short on any strength today.

Below 4950, its totally bearish.
Above 5173, its bulls all the way.

Yes indeed, I agree with you my friend

can you please post a chart and explain why they are important?

I have already posted the levels you are referring to on Benzinga, please refer to FTSE 100 weekend analysis article

4950 and 5170 are the important levels to watch for ..............why do you ask?

I shall attempt to explain for the Newbies.............

I posted the following chart on the weekend on Benzinga for all to see...


Support at 4950 ...... - the last time the market fell below 5000 level it printed two wicks at 4950 exactly, forming a double bottom, the purple horizontal line illustrates this. Therefore if we breach 4950 it gets really bearish as the last line of defense is breached and Rome shall fall...............haha!!
next level of support on chart would then be 4780


Resistance at 5170 - the daily chart clearly illustrates an inside bar that formed on the 30th October 2009, we have been trading within it ever since. The top of the body is 5170 and bottom of the body is 5000. In order for the FTSE to rally and trade higher it must print an outside bar, in other words a candle has to close above 5170 in order to negate the inside bar. Hence the reason why 5170 is an important level. i would also like to point out the downward sloping trend line, and once we trade above 5170 it will be negated and a sudden shift in sentiment will be acknowledged .....

I hope that helps chaps .......

I'm hungry now, off to get breakfast


to all the viewers on this thread

 

[wallstreet1928]

ftse 100 starting to get bullisha again
tick data

Food for thought Folks

Hypothetically speaking

there is a real possibility of a head and shoulder formation here my friend

every angle and possibility must be contemplated, otherwise it will be check mate(stop loss hit) in this market

 

[Dentalfloss]

ws.possibly
that chart i posted was the snapshot at the close last night.however.the ig cash had broken down before the open.so there was no reason to trade long

ftse 100 starting to get bullisha again
tick data

Food for thought Folks

Hypothetically speaking

there is a real possibility of a head and shoulder formation here my friend

every angle and possibility must be contemplated, otherwise it will be check mate(stop loss hit) in this market

 

[Dentalfloss]

ws.agree with youre chart.this certainly is the place to go fora swing long,provided there is confirmation of a turn upwards
daily data.35 pt by 3
this is not a trade recommendation...just a thought

 

[Dentalfloss]

ws....that has prompted me .when i post a chart,i shall put on it whether it is the index/trading hours 8 am to 4.30pm uk time.there is a difference to the ig charts which are traded 24/7.
there can be large differences overnight or after the uk close

 

[Dentalfloss]

index chart
8 am to 4.30pm
there is a hint of bullishness here.rising lows on the last 2 columns
needs to break 5043

 

[ivantchourilov]

index chart
8 am to 4.30pm
there is a hint of bullishness here.rising lows on the last 2 columns
needs to break 5043

to play out another bearish flag? you are over 70 points down on teh FTSE over there, and you "see a hint of bullishness"? Dude, my trade is long, but I am not adding until I see some form of turn. At this rate, DOW will be down a good 100-150 by US close.

 

[Dentalfloss]

bulls gone for the time being

 

[litetrader]

But there is a lot of ecomomic news coming out that is below expectations and I think this will keep the pressure on pushing the market lower to 5000 and may be even below.

index chart
8 am to 4.30pm
there is a hint of bullishness here.rising lows on the last 2 columns
needs to break 5043

 

[litetrader]

I was writing th epost when the market was at 5016 and whoa it just hit 5000 and went below it for a brief moment

 

[wallstreet1928]

Timberrrrrr.............................

 

[pentlow1]

Timberrrrrr.............................

I am short the FTSE from 5030, any thoughts on where we go from here? 5000 appears to be holding up well at the moment...

 

[wallstreet1928]

I am short the FTSE from 5030, any thoughts on where we go from here? 5000 appears to be holding up well at the moment...

keep watching 1030 on sp500 futures ..........we may get a bounce from here and stabilise

 

[10pips]

I am short the FTSE from 5030, any thoughts on where we go from here? 5000 appears to be holding up well at the moment...

s1 level is 5017.

s2 is 4950, but it hasnt touched or breached its midpoint of 4987 to say it wants to go s2.

4987 had a quick test when ig opened its market the sunday that just went.

 

[Splitlink]

I am short the FTSE from 5030, any thoughts on where we go from here? 5000 appears to be holding up well at the moment...

Pins on the oversold side but with strong falling averages. I try to take profits on those. Just did it at 1013. Not going long, though, just waiting.

 

[pentlow1]

I think ill keep moving my stop down about 15 pips away from the market, to lock in profits but keep the short for the time being, as we seem to be testing 5000 again.