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

[Da.DesiTrader]

latest FTSE chart illustrating resistance

I have added another contract @ 5335 ...stop loss remains at 5350

Are you hedging your short as well?

 

[wallstreet1928]

Are you hedging your short as well?

no Mr Desi not at these lofty heights

Naked short open ........as DAX at key resistance area!! it wouldn't make sense to go long on DAX here?

I am also short 3000 shares of barclays @ 314 level

 

[dealer911]

The market is short.. the USD is weakening.. the only data we have seen out of europe was slightly ahead of forecast.. am long DAX myself @ 5752!

 

[wallstreet1928]

The market is short.. the USD is weakening.. the only data we have seen out of europe was slightly ahead of forecast.. am long DAX myself @ 5752!

I am very interested

what is your stop loss and target my friend ?

one can't argue with formation as it looks bullish , but I have my own strategy.

 

[dealer911]

5770 target.. stop loss 5743.. I'm not a long term investor!!.. will change both my target and stop loss if the USD strengthens... bit uncomfortable going long at these "lofty" levels as you say .. i will see how the next half hour shapes up.. normally this time of day the institutional orders start to hit the market so would expect to see a reaction over the next 30 mins or so.

 

[dealer911]

ok.. gave it half hour.. lost my bottle now and will take profit here at 5757.. not sure about going short still though!

 

[wallstreet1928]

ok.. gave it half hour.. lost my bottle now and will take profit here at 5757.. not sure about going short still though!

that was a close shave , well done my friend!!

never too soon to take a profit

good trade

 

[dealer911]

thanks w/s.. nearly hit my stop level hence the loss of conviction!

 

[wallstreet1928]

US Dollar Suport @ 75.10-75.00 .........watch this trendline on 10 min, bear flag still intact

The dollar continued to decline following dovish comments from the US Federal Reserve. St Louis Fed President James Bullard stated yesterday that the central bank should continue with their mortgage related asset purchase programme, as many analysts look for governments to start making clearer their exit strategies.

The US Dollar index slipped further back in trading

Be aware that it is Thanksgiving on Thursday

Existing Home Sales data will give an interesting insight in to the supposed strength of the recovery

The FT reported that Chicago FED Reserve President Charles Evans expects US unemployment to peak at around 10.5%

 

[Da.DesiTrader]

59% spreadbetters short on FTSE. Hmmm... I am not liking it. Will look to get out at b/e if possible.

 

[Da.DesiTrader]

ok im out at b/e. Now market will fall.

 

[Da.DesiTrader]

ok im out at b/e. Now market will fall.

Told you.

 

[wallstreet1928]

ok im with you there. Short at 5339 with stop at 5351. Good risk reward and also a pressure to fill gap. Oil is surging due to iran drills, but may fizzle out as it has surged a lot already. Also, Eur/USD showing exhaustion. Plus a rally in USD/JPY showing some dollar strength.

Desi your argument for the short was very good, why did you not stick your analysis?

your risk reward was very good too?

why did you decide to close the trade ?

was it FEAR ?

 

[Da.DesiTrader]

Now I have a limit buy at 5356, high of 19Nov. Lots of swingers would be trading it's breakout.

 

[Da.DesiTrader]

Desi your argument for the short was very good, why did you not stick your analysis?

your risk reward was very good too?

why did you decide to close the trade ?

was it FEAR ?

Yes mate. Fear. Also, what makes you think my analysis was any good at all.

This was my analysis: Good risk reward and also a pressure to fill gap. Oil is surging due to iran drills, but may fizzle out as it has surged a lot already. Also, Eur/USD showing exhaustion. Plus a rally in USD/JPY showing some dollar strength.

The USD/JPY started declining. FTSE also showing break of upper trend line from previous 2 highs on 10M chart. Also, 60+% spreadbetters are now short. So variables kind of changed from analysis standpoint as well???

 

[dealer911]

Yes mate. Fear. Also, what makes you think my analysis was any good at all.

This was my analysis: Good risk reward and also a pressure to fill gap. Oil is surging due to iran drills, but may fizzle out as it has surged a lot already. Also, Eur/USD showing exhaustion. Plus a rally in USD/JPY showing some dollar strength.

The USD/JPY started declining. FTSE also showing break of upper trend line from previous 2 highs on 10M chart. Also, 60+% spreadbetters are now short. So variables kind of changed from analysis standpoint as well???

Got to be agile in this game!.. i seem to swing from bull to bear easily.. thats why I prefer to day trade.. the market dynamic is always changing and you cant dig your heels in.

 

[Da.DesiTrader]

A break of 5356 looks tasty for a long. What do you guys think about a long at 5358. Lots of short squeeze and swing methodology entry as well?

 

[dealer911]

A break of 5356 looks tasty for a long. What do you guys think about a long at 5358. Lots of short squeeze and swing methodology entry as well?

sounds like it would be worth a shot.. seeing as it's a momentum play would be in and out quickly with a tight stop loss though.. i'm out of the market for a while..will wait for homes sales number at 3.00.

 

[Da.DesiTrader]

ok dollar strengthening again. Cup and handle on usd/jpy, also USD/CAD showing strength and EUR/USD just fell below short tf support line (1.4971). Hence short again at 5339 (better entry than before anyway)

 

[Da.DesiTrader]

stop amended to b/e with a distance of 8 points.