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

[SuddenDeath]

Lapalabra, this is system, RSI/STOC 5

..the 20 trigger level, at the same time the RSI (period 5) was above the 35 reading needed to give a valid buy signal (the higher the stronger the buy signal) 10min chart

Kaisen glad it worked for you.

Morgan Stanley just reported bad(expected) numbers FTSE tanked

Modified it from a system I found on T2W/trading systems/free systems

 

[wallstreet1928]

important area

market breaks trend line as soon as oil fails to hold 65.4 and euro 1.424

downside target would be 4460 which coincide with pivot S1 .....if we break 4475 on diagnol trend line

If 4480 fails then potential bear flag and we go south again

BP falling and it will need to hold 503 .......

 

[rezadamus]

afternoon all...im long ftse at 4474- 4 point stop

moved stop to break even, limit= +10points...

 

[Chelski]

rather than burn out, use this time to recharge the batteries, a bit of fresh air etc. We all know the market is sideways so use it to your advantage.

 

[masnachu]

paper?

scissors?

I'm not allowed scissors

 

[wallstreet1928]

UK Retail sales printed better than expected at 1.2% versus 0.3% as warm weather and discounts helped to fuel consumer demand. Additionally BBA mortgages rose to 35.2K from 31.9K the period prior. This was the fourth consecutive rise in the BBA number as signs of a bottom in the UK housing market are becoming evident.

Although the latest UK macro economic data clearly suggests that the economy has stabilized it is still too early to determine whether it is in full recovery mode. The Retail sales component is notoriously volatile and the currency market will need to see several months of positive growth in order to be reassured that consumer demand has been restored. Nevertheless, today’s news provides yet another piece of supporting evidence for the bullish argument that the worst of the global contraction is over and the recovery phase is well under way.

Cable rose to 1.6540 in the immediate aftermath of the release but has been stymied at the 1.6550 level so far as equity markets have failed to provide any momentum. Still, given the strong fundamental data, pound could mount a challenge to the 1.6600 level if risk appetite flows pick up into the North American session.

 

[wallstreet1928]

important area

market breaks trend line as soon as oil fails to hold 65.4 and euro 1.424

downside target would be 4460 which coincide with pivot S1 .....if we break 4475 on diagnol trend line

If 4480 fails then potential bear flag and we go south again

BP falling and it will need to hold 503 .......

trend line provided good support as always

now watching to see if weakness at 4480

 

[rezadamus]

moved stop to break even, limit= +10points...

reached my limit...wish id held.

 

[dr.blix]

not really watching FTSE much today.

got an equity position open on YELL, hit a 25% increase this morning on good debt recovery talks.

 

[SuddenDeath]

RSI system would have had a buy stop at 4485.3 on the close of the 12.20 bar

 

[rezadamus]

No its free,

chart set to 10min, RSI set to 5 period, when buy signal occurs when 5 period RSI moves above 35 after being below 35 when this happens place a buy order 4pts above the 10min price bar which led to the the RSI reading above 35,

that's it plain and simple,

and a sell signal?

 

[dr.blix]

mebs try flipping the buy signal, personally i'd think about selling at the next res level...and only entering with an obvious + R/R...needs a decent volatile instrument to work well though.

momentum indicators/signals become too unclear with low volatility i think.

when i tested it i couldn't seem to get a buy signal from my RSI, always sub 25-30. probably messed up the testing though knowing me.

although i liked the stochastic for helping to pick out swings in a healthy volatile market.

 

[SuddenDeath]

Rezadamus, never looked into using it as a sell signal.

 

[rezadamus]

shorted ftse at 87

 

[dr.blix]

FTSE daily's playing with an up trend line starting Oct 08' btw.

 

[SuddenDeath]

1.30 US unemployment claims,

 

[rezadamus]

short again at 4495.8

 

[pentlow1]

Short at 95.3.

 

[SuddenDeath]

Its a good idea to have 2 or three SB website active and running same time, when u want to trade u can see who is offering the best price.

 

[SuddenDeath]

shorting into the 1.30 US claimant annoouncement