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

[wallstreet1928]

same with s500.he says the bearish divergence signals an end to this bear market rally.look for a break below 880.then on to 675 area

GBP and EUR falling against Dollar .............

If Dollar gets stronger then 885 will certainly be broken on S&P.......!!

DAX is looking weak this morning already

 

[wallstreet1928]

I am now short S&P 886.5 ....stop loss 890.50

target 875 - 865

I am also shorting oil stop loss 61.5 ........target 60

I am also shorting eur/ usd.........stop loss 1.4010...........target 1.39

i am off to cricket now chaps so happy trading till 16.30

 

[dr.blix]

just something to possibly consider.

hi dentist,

i posted this on the 20th...interesting to see your analysis of other indices.

be fascinating to see what happens 2moro.

 

[Dentalfloss]

dr.blix.i missed youre chart.in future,will you put it in block capitals if you spot a divergence.they are a very strong technical signal.as there so mant postings on this thread, i generally miss things
thanking you in advance

 

[dr.blix]

dr.blix.i missed youre chart.in future,will you put it in block capitals if you spot a divergence.they are a very strong technical signal.as there so mant postings on this thread, i generally miss things
thanking you in advance

willdo dentist. i use divergence a lot to look for possible short opportunities.

i'm in the process of picking another indicator to complement my momentum osc.

i understand that 3 (and no more) non-correlated indicators should be used.

does anyone on here use a volume or sentiment based indicator? if so it would be very useful to share analysis...ideally if we had a person proficient with a volume based indicator, one with a sentiment based indicator and myself and dentist monitoring momentum, perhaps we could confirm (or not) each others analysis:?:

 

[Dentalfloss]

memorial day bounce in the futures/ig markets

 

[wallstreet1928]

I am now short S&P 886.5 ....stop loss 890.50

target 875 - 865

I am also shorting oil stop loss 61.5 ........target 60

I am also shorting eur/ usd.........stop loss 1.4010...........target 1.39

i am off to cricket now chaps so happy trading till 16.30

back from an interesting days play

S&P stop loss hit

eur/usd ...stop loss hit!!

oil trade still open ........

not a good day for me .......

DAX was really confusing, I suppose that's why a lot of traders didn't bother trading today!!

 

[Dentalfloss]

thought you were not trading out o hours

 

[Dentalfloss]

ws.the marketmakers....looking like they went stop chasing

 

[wallstreet1928]

thought you were not trading out o hours

yes Dentist my friend, all stops taken out either side!!

I have learnt my lesson .........

I was just lazy.....too busy focusing on cricket to do any real analysis, opened trades and went off to cricket.....!!

FOREX..........is one bug bear!!

made 300 pips last week but still a steep learning curve for me .......the same principles according to Indices do not apply so I am finding my footing !!

 

[bennie83]

yes Dentist my friend, all stops taken out either side!!

I have learnt my lesson .........

I was just lazy.....too busy focusing on cricket to do any real analysis, opened trades and went off to cricket.....!!

FOREX..........is one bug bear!!

made 300 pips last week but still a steep learning curve for me .......the same principles according to Indices do not apply so I am finding my footing !!

Hey WS, unlucky fella. I'm sure you'll make up for it this week when the market gets going properly. Was thinking about the stop loss that we use. You know you said to use a 25 point SL when trading the FTSE....what would be your profit target on this? Wouldn't it have to be at least +25 points to make the risk to reward ratio a mere 1:1? If you close a position for +10 points, then isn't the risk you are taking too high? With a stop loss of 25, I thought you would need a PT approaching +50 to make it worth while. I may be well off here, but would like to see what you think.

 

[wallstreet1928]

Hey WS, unlucky fella. I'm sure you'll make up for it this week when the market gets going properly. Was thinking about the stop loss that we use. You know you said to use a 25 point SL when trading the FTSE....what would be your profit target on this? Wouldn't it have to be at least +25 points to make the risk to reward ratio a mere 1:1? If you close a position for +10 points, then isn't the risk you are taking too high? With a stop loss of 25, I thought you would need a PT approaching +50 to make it worth while. I may be well off here, but would like to see what you think.

Yes indeed my friend you are very true with your comments

I do aim for 25-30 points per trade...........sometimes I make more as I always trade 3 contracts(on europen indices but 1 contract on US indices) and take 1-2 off the table at 25-30 points and leave the last contract break even.

Some times I take profit at 10 points when I have a trailing stop loss or i feel like the trade is bad and need to pull out with a small profit !!

several scenarios ..............but the onus is on me to make good trades more often!!

the formula seems to be working at present and has worked for some time, it may change when I start to hit my stop losses more often!!

 

[dr.blix]

guten morgen!

there is very slight bullish divergence on the hourly FTSE...but this is with out of hours data so i don't know if it's relevant at all.

 

[carlos b]

morning ladies

i am using th eig index advanced charts this am to begn my quest for some charting TA..

mr blix would oyu agree that we are nearing the tip of a triangle on 1 hour?

 

[wallstreet1928]

I am now short S&P 886.5 ....stop loss 890.50

target 875 - 865

I am also shorting oil stop loss 61.5 ........target 60

I am also shorting eur/ usd.........stop loss 1.4010...........target 1.39

i am off to cricket now chaps so happy trading till 16.30

so what happens after my stop are triggered

eur/usd falls off a cliff

and S&P back down to 885 ..............haha .......

i have closed my oil trade for a profit so that has paid for half of yesterdays losses!!

 

[wallstreet1928]

morning ladies

i am using th eig index advanced charts this am to begn my quest for some charting TA..

mr blix would oyu agree that we are nearing the tip of a triangle on 1 hour?

good morning my friends

and good luck carlos

 

[carlos b]

sorry to hear thta ws..

ouch for some there.... ftse market stopping people out left right and center...14+ pip whipshaws all over the place.

p.s would you agree ws that on the hourly we are dep into a triangle on the ftse..?

 

[hairyman]

g mofning all.
short footsie 4337 s/l 35.

 

[wallstreet1928]

sorry to hear thta ws..

ouch for some there.... ftse market stopping people out left right and center...14+ pip whipshaws all over the place.

p.s would you agree ws that on the hourly we are dep into a triangle on the ftse..?

FTSE analysis

4415 is a rock solid support and will only be broken when S&P break 885-880 level .........

or if oil and it has started, falls below $60

Dollar getting stronger = market fall

 

[dr.blix]

i'm long on some equities this morning so i won't be posting about the ftse for a while...

well that was a great idea plus the broker very kindly missed my stop by a mile...