Wallstreet1928 Analysis & live calls on FTSE,DAX,S&P...aimed to help New traders
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I love this pattern, cable produced a beaut on the hourly as well.
Only just got back home , so I assume your out of the short now ?
Look at the 10min (Daily FTSE) , market hours , see that descending type wedge pattern ?
In future always be on the look out for that pattern in down trends , esp the FTSE , it likes them, its a sign that the bear move is or could be coming to an end.
other EG's Daily - Oct 10-27/08 , Jan 19-23/09.
and an example of the pattern failing Sep 01-19/1998.
Have been using it for years
Many thanks for that. Yes I got out for a small up, on the trade. Looking for the next short....
Death in June
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I have 38.2% fib retracement on ftse from yesterdays heighs to yesterdays lows (although includes out of hours trading) at 4265 and see some resistance from 30/06 so have gone short at 4264 target 20 points...crossing my fingers, need to make back points lost in a rush of blood to the head yesterday
Death in June
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and have sl of 12 points which is above resistance of 4272
kaisen
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I have 38.2% fib retracement on ftse from yesterdays heighs to yesterdays lows (although includes out of hours trading) at 4265 and see some resistance from 30/06 so have gone short at 4264 target 20 points...crossing my fingers, need to make back points lost in a rush of blood to the head yesterday
I am with you:whistling, so lets hope we now have a re test somewhere around 4232 ish? Or beyond!
Time will tell.
Death in June
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I'm a bit worried about the 4250 level as have 20ma on 5 min chart and often acts as support in strong move up
kaisen
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Hopefully then the 10 min chart which has 20 and 50 ma´s south of where we are will draw the price down!?!
The 60min chart also has in spirit bear flag.
Same as the 4 hr and daily.
So, hopefully the longer TF which are at odds will prove the trend.
Not feeling comfortable though!
Surely, with all the negative sentiment yesterday and possibly more downside from the US, people will want to take their profits from today?
Everything crossed!
Death in June
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hmmm bounced off the 20ma on 5 min but still holding on..in these situations its so easy to close for a couple of points rather than staying in until ones target is hit... all I need now is to hear that ws or sujith are going long :cheesy:
kaisen
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Death in June
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Yes Kaisen I agree.
I often think that once entering a trade I should go for a walk and then return to see the outcome. I all to often panic when I get into profit and then see the market go slightly against me. And here is the Deadly Sin: when the market goes immediately against me I let my trade breathe but not when it moves in my direction... I have to change that in order to be a successful trader
I often think that once entering a trade I should go for a walk and then return to see the outcome. I all to often panic when I get into profit and then see the market go slightly against me. And here is the Deadly Sin: when the market goes immediately against me I let my trade breathe but not when it moves in my direction... I have to change that in order to be a successful trader
Death in June
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Death in June
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So its just the 3 of us then
it will be just 2 of you if it doesnt make an attempt to hold 42
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