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

[candles]

i bought the close. Stops are in.
Good trading as always guys. catch you tomorrow

 

[Dentalfloss]

a 50% retrace from the latest upmove.brings us to 3750 area.
however,if we get a breach of 4000,the upward vertical count takes us to 5000
med term chart..eod data .1% log box sizes.3 box reversal
non farm payrolls on friday.might be something in that

 

[wallstreet1928]

FTSE analysis- trading plan for 31st march 2009

1 week 10 min

too much resistance on the upside

multiple trend line resistance along with 50 & 20 MA ...............Phew!!

that is going to take some strength to pierce it ................but in this current volatile market anything is possible!!

Goldman sachs held up well...I expected more selling!! barclays might be a good buy around 140 tomorrow

but bias is still on the down side chaps until we have S&P go back above 800 level

Oil reached $48.7 ...............oil stock stocks will be under pressure and we all know what that means with an index that is heavily weighted towards them!!!


scenario 1 - if trend lines and MA's taken out(confirmation req'd) then a nice scalp is on the cards by going long up to yesterdays gap down 3835- 3840............
obviously if we take out 3840 then i will be happy to go long up to gap fill 3890

scenario 2 - If we fail to show any interest above 3780 then i am happy to remain short upto 3740 and 3710

 

[wallstreet1928]

Great wall of china - two red horizontal trend lines must hold and should hold, otherwise it gets nasty

DAX - 1 month 1 hr chart


So what are the germans up to, DAX was bungee jumping today ...........the DAX is becoming like the Dow, a bit too volatile for my liking at present

So I shall refrain from trading it in the interim

 

[wallstreet1928]

S&P analysis for 31st march 2009

1 week, 10 mins


Going long at 780 play today worked like clockwork ............perrrrrrrfect !!

anyway, we must concentrate on next trade and not get over confident

strategy

scenario 1 - pretty obvious, no real apetite above 780 then I will go short after confirmation(two 10 min candles)

scenario 2 - slightly tricky and more risky , if 789 broken then I will go long and we could have potential to go to gap down level of 798 but 793 could try and put a stop to that but I very much doubt it
if 798 broken then we go to gap fill of 805 and 819

but thats too far ahead

good night all

I hope all the newbies benefit from this

it has taken me 1/2 an hour to do this

 

[Trader1UK]

Thankyou for the analysis guys... lets see what tmrw has in store..

 

[lapalabra]

Even if it feels like a lonely and time consuming enterprise typing this up, its a real real benefit for us newbies WS, keep it up!

 

[Dentalfloss]

rather quiet overnight in australian market.index down 0.6%.nikkei down 1.3%
major markets now at important support areas in this uptrend.
there could be quite a few false breaks until people make thei mind up.could even be lo range days

 

[Dentalfloss]

billiton down 2% overnight.could be playing catch up with the eauropean markets

 

[irastorza]

 

[Dentalfloss]

thanks for the charts irastorza.seems like most indices are in line

 

[Dentalfloss]

in case the indices are flat over the next few days.then watch this one.the eurgbp cross is getting squeezed into a triangular formation.you now know why p/f traders like those
eod day data.box size is 0.3%..log box size.1 box reversal

 

[irastorza]

i dont know to much about the eod charts, but seems interisting that currency crosse, where do you think that could break, up or down?

 

[wallstreet1928]

I am long FTSE 3807 ...stop loss 3777

scalp

 

[Dentalfloss]

tight range now 3760-3830
some minor support building at 3800 on the tick chart

 

[wallstreet1928]

I am long FTSE 3807 ...stop loss 3777

scalp

take 2 contracts for 16 points profit and amend 1 contract break even

 

[candles]

i bought the close. Stops are in.
Good trading as always guys. catch you tomorrow

Overnight system pays off again.
Covering here for 60 pips

 

[wallstreet1928]

I am long FTSE 3807 ...stop loss 3777

scalp

taken last remaining contract profit at 3831

nice scalp as per trading plan last night

 

[wallstreet1928]

I am now short FSTE 3831 ...............stop loss 3861

scalp

 

[wallstreet1928]

Overnight system pays off again.
Covering here for 60 pips

well done candles, get them points in the bag