FTSE 100 Intraday - December

[Hooya]

still looking at this

 

[bonsai]

hooya
if 73/76 then no spread would be market at 74.5

mully
ok but if you are trading the macd/1 day, dont abandon the system but ADD to it.
One of the turning points will be the right one !

Elliott, for example ? or trend lines or gaps or Fibs etc.

for example, we may now have hit previous 4th of the rally from 4360

 

[mully]

Bonsai, Certaintly not abandoning it, just employing dynamic position sizing depending on the clarity/conviction of the signal.

 

[mully]

Hooya, I'm confused. You are making an assumption that you know the direction of a traders expectation. A smaller spread doesn't change a traders 'expectatiion' (wrong word but you know what I mean) only allows him to facilitate cheaper execution (so possibly encouraging more trades.

 

[Hooya]

Bonsai, ok I get you point but at that time iwas refering to Market price and CmC quote

 

[Hooya]

Mully, But would that increase in volume and the ease of entry and exit in a now zero sum game, what effect would it have on thge movement of the market....none, little?

 

[barjon]

bonsai

ok thanks. In my relatively short time having a go at ftse I've yet
to see a marked difference twixt index and quote (mind you I'm
not looking all the time).

so ta "works" on ftse because when it hits a support level, say,
enough traders think it's cheap and buy their basket of shares
causing a bounce? (and trackers and general traders). Sort of
second-hand supply and demand.

good trading

jon

ps closed out mks this am

 

[bonsai]

The fall to 4360 seems to be 5 waves.
So JP would tell you that the trend is down.

watch for a fail of this rally around the 1 day mark ?

but the counter rally to 4402 also seems to be 5 waves.
so a break above the 1 day could be tasty.

 

[Hooya]

I guess they might like to fill the gap before doing anything else?

edit: assuming a gap up in auction and gap down at open constitutes gap...I remeber we had one of those a few months back and it took a week or so to fill, but we are much closer to it this time.

 

[bonsai]

you should have taken your profit on that small rally and now await developments.

 

[Hooya]

I did at market 85....break of this mornings up trend

 

[mully]

Bonsai,
Hope you have been watching the FTSE250. Very close to challenging its 2003 peak. Giving a much clearer picture of the London Market.

 

[mully]

However, position of MACD suggests it may find it hard to breakthrough immediately

 

[bonsai]

hooya
If the Superbowl theory holds up, we may be in for a rocky December ?

a long way to fall ?

 

[Hooya]

I was thinking about that the other day...I was waiting for you to bring it up

and the theory of a decline in January usually says the FTSE should Finish down too?

 

[jonnyy40]

I'm Bullish.All my family are Bullish.Dad was a Bull.

 

[bonsai]

This field is getting crowded ?
lol

if the rally off 4360 was an A
then we may have finished B this morning
so a pull back through the 1 day may signal a C.
another look at 4400 hooya ?

 

[Hooya]

Would be good, rates in a mo.

 

[Hooya]

an a=c would keeps us in the wedge

and 1.68XA would make a slight newer high but still in a larger wedge

 

[bonsai]

yes
however its right to be short now the 1 day is broken until something happens.