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

[wallstreet1928]

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

ftse low was 5420 , 5 points from target

If I was back in the UK I would be able to text to say I am taking profit as bias change in process or possibly trail stop loss.

but because I am restricted at present due to being on holiday , I am out break even and I will now rest and focus on another set up on the morrow.

The direction and analysis was correct based on my understanding of TA/FA ....just a shame I missed my 1st target of gap fill @ 5410. I expect this gap to be filled soon, I will re-analyse and start fresh on the morrow.

Now its time to rest and recover

Peace

FTSE now 5400 ....gap has finally closed !!

 

[wallstreet1928]

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

Just before my head hits the pillow, I've taken one more look at these charts and think I may have found another area of support. Please let me know what you think people. (It's the new horizontal line I've drawn.)

I don't like the trendlines you have drawn due to;

1. accuracy of your data - I only utilise pro-real time EOD data

2. incorrect geometric trend line analysis

 

[wallstreet1928]

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

Hold the front page, I actually have a couple of charts to post. I'm not some pesky irritant who wants to steal peanuts from the bird feeder. I am here to learn, contribute (and of course have fun). I am particularly interested in the Nasdaq and have drawn some lines. WS has seen some of my lines in the past and said that he thought I drew too many and clouded the picture. So, I have taken heed and tried to keep this simple.

Until Monday, I'm on a beat-up old laptap and am going to have to talk you through the charts, rather than write on the charts themselves.

Starting with the Monthly chart and looking left to right, I have drawn two support lines that appear as a channel. I believe these are the historical support for the index and am taking that as where the market -wants- to be at minimum. The 45 degree line all on its own is showing me an area of support for that recovery. Ignore the smaller channel for now as that comes into play on the Daily chart.

Now with the Daily chart, I am pleased to see that my three support lines drawn on the Monthly chart are still valid (I think). Now moving on to the parallel channel I have drawn, which again shows at about 45 degrees. I believe the top line is resistance to the recovery, but I struggle with the bottom line. I have simply put this at a best-fit position, but am not happy with it. I can see no clear support anywhere between the current price and that lonely line drawn on the Monthly chart.

I think where we are now is quite exciting. Is the 2325 area going to prove support and move us back to where the index wants to be, or are we going to fall back down again to........? If price followed my lines and didn't deviate, we could be back up to confirmed support within my channel drawn on the Monthly chart by end of the year, possibly next year. But I'm sure that's not how things work...

All of my assumptions are based on looking at the charts. I am only a squirrel and have a small brain. I've not taking any price patterns or fundamentals into consideration. Perhaps someone can give their input on these?

Also, have I even got these lines right? Do you think I am right in my beliefs, or am I just making these lines fit?

Many thanks,

Squirrel

I have taken time out to draw any trend lines or S&R that I think is relevant


daily , weekly and monthly chart

 

[Mr Squirrel]

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

Thanks WS, it is appreciated. I shall look at them first thing in the morning, but for now, it's sleep time. Hope you're feeling better. S

 

[wallstreet1928]

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

Its always interesting how these financial journalists explain the fundamental reasoning behind the market sell off. It is good practice to spot the reasons in real time before going long/short and then to verify afterwards

"Conflicting signs from Europe, disappointing earnings from Apple, and continued strains on the economy drive major indexes lower."

I highlighted all 3 reasons yesterday in my analysis and I also gave 3 more arguments for market to go lower

 

[wallstreet1928]

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

I explained in my analysis yesterday that I forecast the gap to close @ 5410 , hence short targets were 5415 and 5400 respectively.

Now that they have been hit(unfortunately I did not benefit as my short was closed b/e due to good trade management), I now have a long bias.


I am now buying ftse from here @ 5400 upto 5380

avg = 5390

stop loss = 5340

tgt = 5440, 5450

 

[wallstreet1928]

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

He's right you know otherwise it becomes a bad obsession with burnout.
All traders should take off at least a full month per year preferably in one go without looking at a single chart.

Agree, it is a very valid point.

My perspective on this is that;

In order for a day trader to be successful he needs momentum, if you stay away you lose it and it takes time to acquire it again. TA is not so important, but fundamental analysis is very very important, fundamentals dictate sentiment and TA just confirms the move.

 

[wallstreet1928]

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

FTSE 100 - its just crying for 5700 = 200 MA on daily chart before it reverses and sells off

WHY ???

simple answer = POMO

given the fundamentals right now the FTSE 100 should = 2000 or 1000, but given the stimulus and manipulation = higher. The POMO junkies will just keep buying and create a bubble

 

[wallstreet1928]

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

"Sarkozy says euro zone talks stuck, flies to Germany"

this news can unwind the whole rally we have witnessed in 1 day. This news is a game changer, this is why it is so important to be in touch with news when day trading , something I am not privy to at present. The internet and news sources are delayed ..........

So now I leave my ftse long open , but I will hedge with short dax and nasdaq

short dax from 5820 , upto 5830
avg = 5825

stop loss = 5875

tgt = 5775 , 5765


short nasdaq from 2315 , upto 2325
avg = 2320
stop loss = 2350
tgt = 2290,2280

 

[kamukak]

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

this news is a old story, was out yesterday

 

[wallstreet1928]

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

this news is a old story, was out yesterday

I agree but the deadlock was supposed to have ended by friday at the lastest

now news breaking there is no agreement as France Germany have differing views and the dispute will not be resolved over sat/sun. The reaction in Copper price just explains all , I expected it to hold support overnight but its still making lows as we speak ........Copper did not react wildly like this yesterday .......

eur/jpy will get hit had as risk sentiment changes suddenly

 

[wallstreet1928]

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

The additional factor here is Asia - important factor

Asia is down very heavily

FXstreetNews FXstreet.com News
Asian markets drop as EU debt woes return bit.ly/oJSzYw

 

[kenhigh]

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

Hold the front page, I actually have a couple of charts to post. I'm not some pesky irritant who wants to steal peanuts from the bird feeder. I am here to learn, contribute (and of course have fun). I am particularly interested in the Nasdaq and have drawn some lines. WS has seen some of my lines in the past and said that he thought I drew too many and clouded the picture. So, I have taken heed and tried to keep this simple.

Until Monday, I'm on a beat-up old laptap and am going to have to talk you through the charts, rather than write on the charts themselves.

Starting with the Monthly chart and looking left to right, I have drawn two support lines that appear as a channel. I believe these are the historical support for the index and am taking that as where the market -wants- to be at minimum. The 45 degree line all on its own is showing me an area of support for that recovery. Ignore the smaller channel for now as that comes into play on the Daily chart.

Now with the Daily chart, I am pleased to see that my three support lines drawn on the Monthly chart are still valid (I think). Now moving on to the parallel channel I have drawn, which again shows at about 45 degrees. I believe the top line is resistance to the recovery, but I struggle with the bottom line. I have simply put this at a best-fit position, but am not happy with it. I can see no clear support anywhere between the current price and that lonely line drawn on the Monthly chart.

I think where we are now is quite exciting. Is the 2325 area going to prove support and move us back to where the index wants to be, or are we going to fall back down again to........? If price followed my lines and didn't deviate, we could be back up to confirmed support within my channel drawn on the Monthly chart by end of the year, possibly next year. But I'm sure that's not how things work...

All of my assumptions are based on looking at the charts. I am only a squirrel and have a small brain. I've not taking any price patterns or fundamentals into consideration. Perhaps someone can give their input on these?

Also, have I even got these lines right? Do you think I am right in my beliefs, or am I just making these lines fit?

Many thanks,

Squirrel

I can see that you are determine to learn, but why cant you order for Mentoring service from WS to improve all this armature kind of trading.

 

[Mr Squirrel]

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

I can see that you are determine to learn, but why cant you order for Mentoring service from WS to improve all this armature kind of trading.

Quite the Promo Boy, aren't you? Do you work in the Ego department of Wallstreet's Independent Trading Co. or are you solely Marketing? Does he ever let you drive the yellow van?

One minute you're moaning that people aren't using his thread for what it's here for and the next, you're promoting Wallstreet's services and website.

I've had a reply from WS and am grateful. Unless you have a contribution, I suggest you jog-on kid.

 

[neil]

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

I can see that you are determine to learn, but why cant you order for Mentoring service from WS to improve all this armature kind of trading.

Wrong thread Ken; car electrics is on another site

 

[kenhigh]

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

Quite the Promo Boy, aren't you? Do you work in the Ego department of Wallstreet's Independent Trading Co. or are you solely Marketing? Does he ever let you drive the yellow van?

One minute you're moaning that people aren't using his thread for what it's here for and the next, you're promoting Wallstreet's services and separate website.

I've had a reply from WS on his thread aimed at new traders and I am grateful. Unless you have a contribution on my post about the Nasdaq, I suggest you jog-on kid.

One thing you got to understand is this, I never hide my feelings about to learn. WS knows me as one of his Mentee, beside Im not use to bitching around to scrap learning than paying for Mentoring. He lets me drive the yellow van while your ass is cleaning the Office

 

[samirs]

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

Quite the Promo Boy, aren't you? Do you work in the Ego department of Wallstreet's Independent Trading Co. or are you solely Marketing? Does he ever let you drive the yellow van?

One minute you're moaning that people aren't using his thread for what it's here for and the next, you're promoting Wallstreet's services and website.

I've had a reply from WS and am grateful. Unless you have a contribution, I suggest you jog-on kid.

Another avatar of superman?

 

[Mr Squirrel]

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

Another avatar of superman?

Don't start rumours, Samirs. WS won't like it and he'll cross you off his Christmas card list!

 

[Mr Squirrel]

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

I don't like the trendlines you have drawn due to;

1. accuracy of your data - I only utilise pro-real time EOD data

2. incorrect geometric trend line analysis

I have a question regarding accuracy of data. I use a SB account and have been told previously to only work with data for the market I am trading. Since SBs create a market that only reflects the real market, should I not be using their data because it is the SBs market that I would be trading?

 

[samirs]

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

Don't start rumours, Samirs. WS won't like it and he'll cross you off his Christmas card list!

I am not...I was just extending your previous joke...