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

[wallstreet1928]

Technical reason for for short .....

Black trend line - prev support now resistance @ 4605......trend line from last 2 weeks days rally

R1 pivot coincides with trend line @ 4595

fundamental reason

Euro is looking weak and didnt rally strongly post IFO data

pound sterling looking weak post UK GDP data

Oil is looking exhausted @ $57.5

Nasdaq still below 1600 - post amazon & microsoft bad news last night

Mining sector overstrethced and not joining in on rally this morning and due a sell off

Barclay looking weak @ 320

 

[Splitlink]

Can someone please shake this counter trend shorting obsession out of my skull - should have been looking to go long @ 4535/40 rather than short the open to 4535/40.

@ SD - only what I've read in Curtis Faith's book, no more

Averages, averages, averages. :smart:

When you see the above all in line and price touches lower Bollinger, watch out!

 

[lapalabra]

Stopped out, and deservedly so!!

I have a 1h bias change to go long, which still remains in force, but was too early to the party, if indeed there is a party! A break below yesterdays low scraps the whole theory as well! I was try to pick the 61.8 retrace of last nights move.

The strat is one of PNs, though he would look for 4h bias change - so I was being a bit cheeky!

I am better to wait for a reversal to prove itself, instead of jumping the gun!! Stupid

You mean prove itself by what PN calls confirmation, the bar moving above/below after the 123 reversal?

But we don't have a break below yesterdays low of 10843 - on my platform anyway?

But what a great pair to test out that reversal bias change - with such a strong trend down if it works here...

 

[SuddenDeath]

thanks mmis4167, i have the book,

Lapalabra, isn't the method of order entry and spacing be ideal for trading opening range breakouts ?

 

[lapalabra]

Averages, averages, averages. :smart:

When you see the above all in line and price touches lower Bollinger, watch out!

 

[lapalabra]

thanks mmis4167, i have the book,

Lapalabra, isn't the method of order entry and spacing be ideal for trading opening range breakouts ?

I never put the two together - will have a look at this in a bit.

 

[wallstreet1928]

thank you very much Mr market ..............

closed @ R1 4595 .......50 points!!

i am now looking to short this market

I am now short @ R1 4595 ...stop loss using my 50 point profit = 4645

target 4550

amend stop loss to B/E ...........due to reversal city!!

I have revised my profit target to 4565 ..........for now

 

[Splitlink]

After that WS forecast I MUST go right through this thread and read his morning forecasts. Good job it's the weekend.

 

[Geofract]

Short eur/gbp @ 0.86234 - SL @ 0.8654

re-entered long $CAD @ 1.08679 - SL @1.0838 - might have to revise that!

 

[Geofract]

You mean prove itself by what PN calls confirmation, the bar moving above/below after the 123 reversal?

But we don't have a break below yesterdays low of 10843 - on my platform anyway?

But what a great pair to test out that reversal bias change - with such a strong trend down if it works here...

Confirmation can be a bias change on 2min TF, or, if say for example price retraces to 61.8%, you buy if price breaks above 50%. Not that I have done that, so I already broke the rules! No discipline!!

Yep, yestedays low is still intact @ 10843 - just mentioned it, as if it broke, the reversal was off for me.

Lets see if this works! Since I broke the rules, it probably won't!

 

[Geofract]

I have a sell order eur/gbp @ 0.8631 - SL @ 0.8654 - this would have been the correct entry for the first eur/gbp trade... impatience took over as ever!

 

[Manya1983]

£ Drops like a stone on the GDP figures but FTSE remains neutral. I swear our FTSE traders are so 'wotless' and always look to the US for direction!

 

[Manya1983]

If GBP/EUR can get back up to 11600 I'll look to short as the 200 MA is just above this level.

 

[Splitlink]

£ Drops like a stone on the GDP figures but FTSE remains neutral. I swear our FTSE traders are so 'wotless' and always look to the US for direction!

I have a short on. Where it is now could be a potential pullback area.

 

[wallstreet1928]

Euro looking very vulnerable ..........if it fails to hold above 1.42 I will look to short with target 1.413

necktie support - 200 & 20 MA 1.42

 

[london_lad]

Morning folks, Is this market bloody crazy or what?

GDP bad, unemployment bad. Well, nothing is good. FSA was grilled for being incompetent in their yesterday's APM. But the markets goes UP?

I dont have any positions short or long, but this is fundamentally and technically irrational and simple crazy.

 

[london_lad]

There is no point trading FTSE, might as wlell just trade S&P or DJI

 

[Manya1983]

Added to my short FTSE position at 4595. SL 20 again.

Make my day boys.

 

[sujithsstorock]

latest usd index chart

 

[papak]

Did some Fibonacci Time projections from recent highs and lows. See chart below.
Note how 38% retracement from low in Mar to high in June got the low in July within one day.
38% retrace from June high to July low points to today for a turn.
Note how also today is 50% in time from Mar low to June high.
This whole move up could be a 5 wave up move in Elliot Wave terms.
Also note how point 2 is a 61% retrace from wave 1 in time.

If you were to look at Fib price (I left it out of the chart as otherewise it would get to messy with all these lines) you will see that Point 2 is 38% retrace from 0>1
Point 4 is 38% retrace from 0>3.