post away my friend
i have been really lazy as of late and I have quiet a few things on at the moment, to and from the solicitors(evicting a tenant)...
Sounds like you're having a whole heap of fun, Wall Street!
post away my friend
i have been really lazy as of late and I have quiet a few things on at the moment, to and from the solicitors(evicting a tenant)...
went long Ftse at 4001
Hi all, just a quick reminder that US Jobless Nos and Housing starts are out at 1.30, for those that like a little spikiness in their trading.
hi all havent been here much since i posted my mega charts.
well the ftse has been concentrating in to a fizzle. lots of patterns...
monthly = symmetrical uptrend bullish
30 min = descending triangle bearish
daily = uprising wedge - at some point will fall out.
volumes on the us indices has been wnaing at the rounding top. very difficult area as you can see with the ftse. overnite it actually jumped out of the wedge. i shorted it down.
its been wiser to buy dips recently than go for a big kahuna short expecting huge falls.
TL's have been broken at the tops, most are expecting pullbacks and retraces but they keep getting bought.
so where from here...? i expected ftse to breakout more than it has this morning. it was a nice long trade from 3960. my homework said buy 3940/3950. didnt get that low so never got in.
we have a monster trendline at 4070. reistance at 4040. so watch the 4040/4070 buffer!
cant see any madness on the downside until the uprising wedge goes, if the monster TL holds...
if's and buts. tough tough tough!!!
i can post some charts if you guys are interested.
also has anyone got msn or a live chatroom?
how about this for a strategy, before some important data/news go long dax and short ftse the same amount, 3 mins before data release, place a tight stop on both orders,
Francis
I would be grtateful if you could post your ftse charts showing the TL's and triangle you mentioned. Would be good learning experience.
Thanks
Wallstreet watch out mate i know where you live if you post a bad idea!
as for the news announcement i do that with a trendline. set up where i think its going then have an order ready in case the original one blows.... hedge matey!! works nicely. advanced strategies like that are really worth investigating like moving stops to breakeven, starting with multiple runners and letting 1 run after hitting original profit target. worth exploring newbies.
heres the charts at the open 8am GMT.
for patterns look here Chart Patterns, commodity and stock chart patterns, charting, technical analysis, commodity and stock price chart analysis, stocks, futures and options trading
good analysis
just keep an eye on JP morgan and goldman Sachs for direction
just bought ftse at 4035
my mind says the bigger move is down.
4040 doesnt appear like a decent enough top as its just popped out of that wedge, my mind says it will fall to the outside of the wedge @ 4000 / 3990 over extend to 4070 and die on its ass.