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

[dr.blix]

long 4302 on what i really hope is a continuation pattern at a 50% retracement

 

[dr.blix]

Yes Dr B I was looking at that down channel its broken out of, just waiting for a good level to either short it continues it rise to next resistance or long if it retraces to good support

oops, so have i just dived in too soon BW?

 

[bw81]

oops, so have i just dived in too soon BW?

you may be ok Dr B. but for me I need more of a retracement to give me a signal on my chart.

Pls can you tell me where you got your 50% retracement from?

 

[dr.blix]

i just mean on the range so far this morning BW...which i realise i calculated wrong anyway!!

i think i should wake up properly before i start doing this

 

[traceyjc]

If the FTSE gets through here, we're looking at a big move upwards, a failure however will confirm the channel break and a large downward correction should be in order:

 

[bw81]

i just mean on the range so far this morning BW...which i realise i calculated wrong anyway!!

i think i should wake up properly before i start doing this

With those 2 fib levels coinciding it be strong resitance to the upside initially 4310 tough level to penetrate

 

[lapalabra]

If the FTSE gets through here, we're looking at a big move upwards, a failure however will confirm the channel break and a large downward correction should be in order:

I agree jc - nice chart.

The top of my channel line corresponds with R1, so decent risk reward here for a long with tight stop other side of support and have a signal - long @ 4293.

 

[dr.blix]

well i'm praying for a BE at the very best.

i have a down channel now on the 10TF at which 4287 is the very bottom, if it holds i may be able to get BE and if it fails its a 20 pt loss to start the day.

 

[dr.blix]

ok fellas, i've made my obligatory bad calls for the day and i'm out.

have a good day, and a good weekend...see you all on monday

 

[Splitlink]

I'm locked into a short profit, at least. There was a pullback at 0842, in case no one noticed. Like yesterday, I am hoping to be in the beginning of a slide. It doesn't always work out like that, though.

Actually, there was another PB before then, just after the high but I was too nervous to take that one, so close to the open.

 

[lapalabra]

ok fellas, i've made my obligatory bad calls for the day and i'm out.

have a good day, and a good weekend...see you all on monday

I'm stopped out too for -6.

See you Monday, DB.

 

[bw81]

ok fellas, i've made my obligatory bad calls for the day and i'm out.

have a good day, and a good weekend...see you all on monday

Im sorry to here that Dr B.

 

[traceyjc]

Have a good weekend Dr. B

Looks like a rejection of that level, below 4232 and beyond?

 

[lapalabra]

I'm locked into a short profit, at least. There was a pullback at 0842, in case no one noticed. Like yesterday, I am hoping to be in the beginning of a slide. It doesn't always work out like that, though.

Actually, there was another PB before then, just after the high but I was too nervous to take that one, so close to the open.

Yes that was a pullback of the trend we are seeing now, as opposed to the second leg of an upward trend. I took the hit of trading on a long signal there but happy I put a tight stop in place as it looked a bit dodgy (that's a technical term).

I am short on a short signal - entry at 4285

 

[lapalabra]

Have a good weekend Dr. B

Looks like a rejection of that level, below 4232 and beyond?

As low as she wants to go, please.

EDIT: My expectation is 4250 main pivot, but first target for taking some profit out will be 4270/4265

 

[Splitlink]

I took profits on that, because it was a good drop in a few minutes and, normally, a sharp drop brings a sharp recovery. A sharp reaction is a better word.

 

[kaisen]

Yes that was a pullback of the trend we are seeing now, as opposed to the second leg of an upward trend. I took the hit of trading on a long signal there but happy I put a tight stop in place as it looked a bit dodgy (that's a technical term).

I am short on a short signal - entry at 4285

Hey Lapa, I am looking for a short entry. Do you think we will move up short term forming a bear flag before coming down further?

 

[Splitlink]

As low as she wants to go, please.

EDIT: My expectation is 4250 main pivot, but first target for taking some profit out will be 4270/4265

You sound much better, this morning!

 

[lapalabra]

I took profits on that, because it was a good drop in a few minutes and, normally, a sharp drop brings a sharp recovery. A sharp reaction is a better word.

I thought exactly the same - as we hovered around 4300 on the pullback I could have taken 4 points profit but held on. And normally I would be only in short mode so close to the top of a daily channel line.

I am nervous about today - maybe its as Traceyjc said with end of Q2, but these quick moves and long shadows on 5M make me nervous if we past 9am, especially when we are close to either end of a daily channel.

 

[bw81]

I took profits on that, because it was a good drop in a few minutes and, normally, a sharp drop brings a sharp recovery. A sharp reaction is a better word.

Good trade Split