poisonivy0
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Congrats on your new thread gonna keep an very close eye on this one :-D
Wallstreet1928 Analysis & live calls on FTSE,DAX,S&P...aimed to help New traders
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wallstreet1928
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Sorry for late chart my friends but I had to attend a function and it got a bit late
2 day , 10 min chart .........
Okay, here goes
I think you can see the resistance lines that we need to take out here in order to propel higher and confirm the up trend tomorrow
FTSE to remain above 200 MA will be crucial for me - 3555
and the intra-day resistance from Friday around 3590 will be another key level........for confirmation!!
there could be a possibility we pull back to upward sloping trend line around 3520-3530(50 MA) and intra-day support tomorrow before we really shoot higher
Now we can't just assume and take for granted that the market will go higher, we must look at the alternative scenario
20 MA will be crucial for me, if we dip below that the outlook gets ugly......because then we resume down trend!!
VOLUME!!!!
I would appreciate anyone with access to volume on FTSE to update us all, as the volume was very low on friday hence wild swings. That will be another important factor to confirm up trend or down trend........
I will sit back and be very careful before entering short or long positions until we get a convincing move in either direction, because if its anything like friday your stop losses will get taken out with wild swings either side!!
2 day , 10 min chart .........
Okay, here goes
I think you can see the resistance lines that we need to take out here in order to propel higher and confirm the up trend tomorrow
FTSE to remain above 200 MA will be crucial for me - 3555
and the intra-day resistance from Friday around 3590 will be another key level........for confirmation!!
there could be a possibility we pull back to upward sloping trend line around 3520-3530(50 MA) and intra-day support tomorrow before we really shoot higher
Now we can't just assume and take for granted that the market will go higher, we must look at the alternative scenario
20 MA will be crucial for me, if we dip below that the outlook gets ugly......because then we resume down trend!!
VOLUME!!!!
I would appreciate anyone with access to volume on FTSE to update us all, as the volume was very low on friday hence wild swings. That will be another important factor to confirm up trend or down trend........
I will sit back and be very careful before entering short or long positions until we get a convincing move in either direction, because if its anything like friday your stop losses will get taken out with wild swings either side!!
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wallstreet1928
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I also want to confirm and clarify something my friends;
This thread is not about me(EGO), it is about us as traders wanting to learn from one another(HUMBLENESS).
It is about assisting the Newbies and helping them and also learning from them also because they bring this enthusiasm, eagerness, zeal and willingness to learn and prosper regardless of the barriers to success that are before them as new comers in this crazy market.
This thread is not about me(EGO), it is about us as traders wanting to learn from one another(HUMBLENESS).
It is about assisting the Newbies and helping them and also learning from them also because they bring this enthusiasm, eagerness, zeal and willingness to learn and prosper regardless of the barriers to success that are before them as new comers in this crazy market.
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wallstreet1928
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S & P analysis
2 day 10 min
Hmmm............the S&P seems to be behaving it self and remaining within its channel.
2 scenarios at this juncture
1. I expect a pull back from the high of the trendline resistance to 680(50 MA) before we really push higher so it may present a good scalping opportunity for me
2. I ecpect it to steam ahead and break out of the trend line and take out the 200 MA...
The latter seems to have failed already because the market was trading at 692-693 @ 00.00 and has pulled back to 689, within the channel.
becuase this has already happened I expect the FTSE to pull back a bit below 200 MA as well to 50 MA 3530...and presents a nice scalping opportunity for me too!!
2 day 10 min
Hmmm............the S&P seems to be behaving it self and remaining within its channel.
2 scenarios at this juncture
1. I expect a pull back from the high of the trendline resistance to 680(50 MA) before we really push higher so it may present a good scalping opportunity for me
2. I ecpect it to steam ahead and break out of the trend line and take out the 200 MA...
The latter seems to have failed already because the market was trading at 692-693 @ 00.00 and has pulled back to 689, within the channel.
becuase this has already happened I expect the FTSE to pull back a bit below 200 MA as well to 50 MA 3530...and presents a nice scalping opportunity for me too!!
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wallstreet1928
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PokerBrat
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We took that out pretty quick.
Looks like we are heading down to test those lows. Market could well be setting up for another bounce - take out all the long position stops and then take the price right back where it started from.
PS: Glad you are still here sharing your thoughts and insight WS.
wallstreet1928
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I have bought FTSE 3490 ...stop loss 3460...
risky trade only 1 contract!!
risky trade only 1 contract!!
poisonivy0
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im in long at 3537 lolllllll stop loss 3476!
oh well
oh well
wallstreet1928
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Volume...........
anybody help out here, what is the volume on the FTSE compared to thursday,wednesday last week or even friday?
anybody help out here, what is the volume on the FTSE compared to thursday,wednesday last week or even friday?
PokerBrat
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What was your thinking behind this trade Ivy? Is always good to share your analysis behind positions to get feedback.
wallstreet1928
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amend stop loss to break even, will be adding to position if it goes over 3520!!
poisonivy0
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oil n gas keeping the ftse a float i think.
banks r killing the ftse.
ftse seems to be rising slowly we'll see how long that lasts
banks r killing the ftse.
ftse seems to be rising slowly we'll see how long that lasts
fraggermcg
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FTSE volumes in millions of shares:
Friday - 1594m
Thurs - 1501m
Wed - 1282m
Tues - 1550m
Mon - 1489m
Average last 6 months - 1395m
Source: Bloomberg
PokerBrat
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That seems a risky trade to take my friend, after a 50 point down leg and looking into the face of support. You have bigger balls than I!
I hope we turn so you can get out painlessly. Of course, after WS has taken his profit.
wallstreet1928
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Banks...........
yes as I mentioned in my analysis they are 1 of the 2 catalysts to this rally......somebody must light there fuse in order for us to go upwards!!
poisonivy0
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all the hype on Lloyds deal i was following it over the weekend and i thought it would bring the ftse up but ...
i was in b4 the market opened and was up but then it all crashed and my stop loss was below my average so i just let it roll.
Seems to be coming up now despite the banking sectors downfall
wallstreet1928
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taken 22 point profit .........
looking to enter again when passed resistance line 20 MA convincingly as now a resistance level as opposed to support previously!!
I will now sit back
wallstreet1928
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all the hype on Lloyds deal i was following it over the weekend and i thought it would bring the ftse up but ...
i was in b4 the market opened and was up but then it all crashed and my stop loss was below my average so i just let it roll.
Seems to be coming up now despite the banking sectors downfall
i personally don't pay any attention to the news my friend because I am a technical analyst who trades using historical chart patterns........
but everybody has a different method of trading and we should all use what brings us the greatest rewards
keep going my friend
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