The FTSE

[downbytheriver7]

maybe

anything is possible...guess thats what stops are for,,but interestingly enough the markets internals aren't too bad...low volume..roughly...60% unchanged..20% advancers...20% decliners....for me its long at 5460 stop at 5455...target 5480/5500

 

[Mornington Crescent]

??

adv= 52
dec= 46

where are you getting your data ?

 

[downbytheriver7]

Advn

??

adv= 52
dec= 46

where are you getting your data ?

From ADVN..maybe I am going mad today!!?

Advancing 382 15%
Declining 512 20%
Unchanged 1638 65%

Where do you get yours? Am I reading this wrong?

The last bearish engulfing patterns where towards the end of October around the 5200 mark and early November around the 5440 mark. Oh yes and one end of August around 5225. Just pointing out that they must be taken in light of other events and yesterday;s was quite an extreme one.

http://stockcharts.com/def/servlet/SC.web?c=^ftse

 

[Mornington Crescent]

I am quoting ftse only

advfn seem to be quoting the whole market.
probably not relevant on a ftse thread.

sorry, cant see anything on my charts
are your charts also advfn. they are often wrong.

 

[Mornington Crescent]

ah , ok
I think I see what you mean ?
beginning of october when ftse fell sharply ?
didnt really engulf anything in particuler

the difference is that yesterday's started from the high.
and took out at least 5 previous days in one hit.

 

[Slim Sladey]

Also long here, believe this to be a dip before another run up, expect the fall later in the year.

I also think we can still close above 5500 again this week, though i got in a little sooner that would have been ideal (hindsights a beautiful thing ) Stop around 5420.

Obviously would like to see the Dow hold up

Slim

 

[downbytheriver7]

ah , ok
I think I see what you mean ?
beginning of october when ftse fell sharply ?
didnt really engulf anything in particuler

the difference is that yesterday's started from the high.
and took out at least 5 previous days in one hit.

ummm...but then again if you look at sept 12 there are two bearish engulfing patterns ....my objective view is that I can not draw a firm enough conclusion from it to take a overly bearish position..I was looking at the short side at 5535-5550 but not here..I would rather wait and average in on the long side..

either way its cautionary warning/reminder!

 

[downbytheriver7]

Also long here, believe this to be a dip before another run up, expect the fall later in the year.

I also think we can still close above 5500 again this week, though i got in a little sooner that would have been ideal (hindsights a beautiful thing ) Stop around 5420.

Obviously would like to see the Dow hold up

Slim

might see 5500 today!

 

[ukhero]

might see 5500 today!

I went Long at 5472, so it would be nice if it jumped the fence.

UK

 

[Mornington Crescent]

5472 ?

that must have been this morning

why leave it till now to post a trade ?

 

[Slim Sladey]

Just got back in - looks as though people should be up on there longs around 20 points

What are peoples thoughts from here - hold on to or take it and wait for signs of the downturn? I may hold to the end of the week at the longest, depending on what happens.

Slim

 

[downbytheriver7]

Just got back in - looks as though people should be up on there longs around 20 points

What are peoples thoughts from here - hold on to or take it and wait for signs of the downturn? I may hold to the end of the week at the longest, depending on what happens.

Slim

I sold my long at 5501, nibbled a quick short and have just covered it. Not sure really now. Looking for a short entry point on the DOW though. I think the risk/reward has to be favourable on the short side as it is near 11000. Maybe average in slowly between here and there.

 

[Slim Sladey]

Yeah my long has pulled back a little bit so think i may leave open til tomorrow but move my stop to breakeven to guard against Dow drop and hope that it doesnt gap.

Also waiting to go short on the Dow, but think i will wait to see if it makes it to 10950 again first.

BTW DBTR7, what do you mean by 'average in' :?:

Slim

 

[downbytheriver7]

Yeah my long has pulled back a little bit so think i may leave open til tomorrow but move my stop to breakeven to guard against Dow drop and hope that it doesnt gap.

Also waiting to go short on the Dow, but think i will wait to see if it makes it to 10950 again first.

BTW DBTR7, what do you mean by 'average in' :?:

Slim

"average in" I mean - say you would be pretty happy shorting the DOW at 11000, well in a perfect world you would short it at the top - but we all know that doesn't happen. So you decide upon a range and the amount of the largest position that suits your risk/reward profile, you then intiate say a position, 25% of your max at 10950, another 25% at 10975, another 25% at 11000 and finally another 25% at 11025, so that overall you would establish an average position over the range.

 

[Slim Sladey]

Thought so - i sometimes do that, seemed like a dumb question after i'd written it, im just not familiar with some of the lingo yet.

Thx

Slim

 

[ukhero]

5472 ?

that must have been this morning

why leave it till now to post a trade ?

Simply put, I work full time during the day and its quite often difficult to go online to T2W and post as and when. Big Brother an all.

UK

 

[downbytheriver7]

Simply put, I work full time during the day and its quite often difficult to go online to T2W and post as and when. Big Brother an all.

UK

Know how that feels! My PC required a reboot today right at the same moment I wanted to close out my long!!! Cost me a few quid that reboot did..thats windows for you!

 

[downbytheriver7]

quick poll

When you looking at charts for TA purposes what setting(s) do you usually use?
I.e 3 month chart hourly EMA20 EMA50 MA200 (which is my preffered option)

 

[Mornington Crescent]

I have 3 price charts on my ftse screen

1min dot chart
5min line chart for at least a month
60min for about 6month or since the last major correction
and that's on page 1

on page 2 .........

:-D

 

[solskjaer20]

When you looking at charts for TA purposes what setting(s) do you usually use?
I.e 3 month chart hourly EMA20 EMA50 MA200 (which is my preffered option)

5min, 30min, and 4hr, all with boll bands, and MAE 21.