FTSE 100 January

[bonsai]

well it wasn't broken yesterday so 480 still looks important.

I'm sure HB would agree ?

 

[Hooya]

think I should have traded my 1 min chart today

 

[bonsai]

might have been tricky if using an sb ?
but would have been profitable using the 1 day as a stop ?

 

[Hooya]

I'll be honest I think a bit of anticipation at the trendlines
would have been needed to make a good profit but maybe 20 points in all to be had??

 

[Hooya]

btw Tom H was impressed with the 1 hr yesterday


essaye juste ce programme de traduction sur l'Internet comme quoi il ? Semble-t-il un raisonnable ?


lol doesnt look that good does it

 

[bonsai]

seem to remember Tom is a scalper when he trades
and trades direct.
lol
where is he now ?
he posts on here and TT and Elite as sunseeker.

is he on advfn as well ???

 

[Hooya]

on tt posting as TomH promoting his market map which has
drawn a few critics but he is being quite honest about it all which
is quite refreshing for a "guru". I post on there under Link some times

 

[TBS]

Hi Bonsai,

How are you doing with the ftse these days? I've now moved fully into Dax and SMI, the current 20 point ranges in FTSE don't suit my style of trading at all, I prefer something with a bit more movement.

 

[Hooya]

someone is trying to play this out as an ascending triangle

 

[bonsai]

TBS
trade both FTSE and DAX now.
that's enough for me with occasional stocks as well.

 

[bonsai]

although the action looks corrective, if you eliminate the spike drops, the rest looks rather bullish.

just wondering if mm's are trying to take out stops while running upwards ?

 

[Hooya]

doesnt the slow pace of it though support the corrective picture?

and it looks like the Euro/$/£ is coming back into play

 

[bonsai]

normally the overlapping nature of the price action would indicate
the lack of momentum, but this is persistent.
Not quite like program trading, but persistent nevertheless.

perhaps coiling up ? to push through resistance.

 

[bonsai]

thar she blows !

 

[Hooya]

well it's all forex to me...FTSE Dow range now narrowing as euro drops.

 

[bonsai]

now the question is - is there a floor around 4080 or have we
just hit the ceiling ?

if you're long around 70 , then you can afford to wait ?

 

[Hooya]

its sitting on my channel trendline from this morning

 

[Hooya]

and it's sneaked back under the line...


edit but bounce off the triangle break out LOL

 

[Hooya]

apex of the triangle coming into play now???

 

[Hooya]

OK Bonsai, I am showing you my new wave count...dont
laugh Ive made a few changes to Elliott's original theory?


edit: Forgive the spelling mistakes it was a Tony Blair job
not quite thorough