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

[PaulHClark]

WS - VP Oil Oct Contract is mixed

Predicted short term crossover indicators triggered for short (but not conclusive)

Neural Index - short (but only a first day - higher probability is day 2 of confirmed signal)

Predicted short ema is above med term trend -long (but prediceted short ema trend is flattening - possibly suggesting the above two pointers may be confirmed to a short)

All in all looks mixed - Predicted High today is 72.40/Predicted Low is 71.67 - with price moves below the Predicted Low this may suggest the higher probability is for a move in the nest few days to be to the downside

Kinda looks choppy tho' - whip sawing

 

[wallstreet1928]

yes oil is really crazy at present

only trade with 25-30 point stops

nice profit to be made if you catch the whippy action though ...only trade it risking your profits for the day so far

I am looking for SP500 to go to 1064

 

[Da.DesiTrader]

WS - VP Oil Oct Contract is mixed

Predicted short term crossover indicators triggered for short (but not conclusive)

Neural Index - short (but only a first day - higher probability is day 2 of confirmed signal)

Predicted short ema is above med term trend -long (but prediceted short ema trend is flattening - possibly suggesting the above two pointers may be confirmed to a short)

All in all looks mixed - Predicted High today is 72.40/Predicted Low is 71.67 - with price moves below the Predicted Low this may suggest the higher probability is for a move in the nest few days to be to the downside

Kinda looks choppy tho' - whip sawing

Paul, shouldnt we be waiting for the actual EMA to come below, and crossover and neural to be in agreement before taking a call at short. Otherwise, as it has happened many a times, we'd be trying to call the top when it's actually a pullback. I hope its a top, but then we have seen it happen many times recently?

 

[wallstreet1928]

I am going to be taking a bit of a back step for the next few weeks as I focus more on the mentoring side of things....

I have October, November, December booked so far ..........PM if you are still interested

 

[PaulHClark]

WS - S&P looks potentially weak to me at the moment - a tough call either way - it might come back to 1064 but there seems to me to be a growing possibility of a break to the downside - the Dec contract has gone to downside trigger today on the Neural Index thogh the cash is still long indicator.

Cash Predicted low for today was 1060 - that suggests with current price at 1057 (but rising) more downside potential than upside - but definitely couldn't rule out a bounceback - Predicted High for cash is 1072.70.

I'm gonna watch and see on this one. Good luck.

 

[PaulHClark]

Da.DesiTrader re OIL

Yep exactly - not one for me at the moment - but I'm not normally a day trader - others may find opportunities.

I'm just trying to pick out trends and follow them.

 

[fast trader7]

Afternoon all,
Quick question. What happens if you make profit out of the price difference between two SB firms?
Do they take it back or it's yours? any experiences?

 

[masnachu]

EY , now is the important time regarding shorts. Will it hold or breakdown ?

 

[Geofract]

EY , now is the important time regarding shorts. Will it hold or breakdown ?

I guess you're looking at the dailies Mas?

I am short £Y from 149.34 btw

 

[wallstreet1928]

USD/YEN is the KEY to this market Folks

92.5 level

if we fail to trade above t then market go up, up , up ......

Euro is holding 1.464 well after the false break on daily range

I think we could have a boring day on the cards

Bias is still on the upside from here

FTSE 5110-20 Major support as mentioned earlier

Nasdaq already closed gap fill and i have taken profit there............1714 ..key support level, break that and it gets ugly

 

[masnachu]

I guess you're looking at the dailies Mas?

I am short £Y from 149.34 btw

H1 & M15 , I'm just watching PA form , see if I can pickup some clues and get an early indication on any possible weakness longer TFs.

EY M15 13.00 and 13.15 (Bear Engulf) was my initial reason for showing an interest (not a good enough signal to go short in it's self for me). H1 1300 , another reason (if that was H1 FTSE I'd short the bugger) , but not on currencies (would need H4 for the same implications), so now watching see how M15 pans out.

I'm looking to see how the market acts around here, will then decide whether to trade in the recent direction of H4 (see dailies), or to look for opportunities to try and fade recent direction.


What TF you trading on £Y , little bit lathargic out there for me today (have you seen the possibilty of a Cup & handle (a rounding bottom formation) on H1 ?? don't trade it myself , but am aware of the pattern).

 

[wallstreet1928]

USD/YEN is the KEY to this market Folks

92.5 level

if we fail to trade above t then market go up, up , up ......

Euro is holding 1.464 well after the false break on daily range

I think we could have a boring day on the cards

Bias is still on the upside from here

FTSE 5110-20 Major support as mentioned earlier

Nasdaq already closed gap fill and i have taken profit there............1714 ..key support level, break that and it gets ugly

up, up , up we go

FTSE respected support level

keep watching this folks

very important trendline

5400 target on the upside

 

[Geofract]

H1 & M15 , I'm just watching PA form , see if I can pickup some clues and get an early indication on any possible weakness longer TFs.

EY M15 13.00 and 13.15 (Bear Engulf) was my initial reason for showing an interest (not a good enough signal to go short in it's self for me). H1 1300 , another reason (if that was H1 FTSE I'd short the bugger) , but not on currencies (would need H4 for the same implications), so now watching see how M15 pans out.

I'm looking to see how the market acts around here, will then decide whether to trade in the recent direction of H4 (see dailies), or to look for opportunities to try and fade recent direction.


What TF you trading on £Y , little bit lathargic out there for me today (have you seen the possibilty of a Cup & handle (a rounding bottom formation) on H1 ?? don't trade it myself , but am aware of the pattern).

Actually, my question should have been, why shorts at that level of EY?

H4 EY looks reasonably healthy for longs IMO. Range breakout this am was nice too.

£Y has already put in most of an average days move now, so potential could be limited to short side, if indeed the trade is viable at all. We shall see.

I can't see a cup & handle on H1 though? I am trading in H4 direction btw.

 

[wallstreet1928]

yes oil is really crazy at present

only trade with 25-30 point stops

nice profit to be made if you catch the whippy action though ...only trade it risking your profits for the day so far

I am looking for SP500 to go to 1064

gap fill reached on SP500 , profit secured

also 5110 ........very good support level ...profit also taken there!!

 

[Chelski]

Cable has a nice sideways channel on Daily.

 

[masnachu]

Actually, my question should have been, why shorts at that level of EY?

PA on lower TF's (M15 & H1) possibly leading to weakness in higher TF's (H4 say)
(atticipation rather than reaction, not always healthy I agree , but sometimes worth a go, we'll see)

H4 EY looks reasonably healthy for longs IMO. Range breakout this am was nice too.

Yes Agree , that's one of the reason the PA on M15 & H1 interested me , because if the weakness implied by those TF's came to be , it would be a possible re-test of H4 brkout point (~134.80 on my MT4), but that level has already been retested just after the brkout, the market retesting it again after a break higher isn't normally a good sign which could lead to weaker prices again ( A break back into that range) and a possible higher TF short trade. That's what I was on the look out for . If this correction can hold above that level (say 135 level) , then that would suggest that there's still support out there for higher prices, and I would look at long trades for next day or two (lower TF long trades H1&M15 etc , this upswing (Daily) as already been going on for a while, so I wouldn't attempt a longer TF long trade from here at the moment). As to why I'm interested in shorts ? just the way the market has been swinging about recently (Daily, last several weeks), there again 02/09 & 14/09 where 2 important lows for daily, and could signal a change in behaviour for a while, it's around now (dialy bars) we'll be finding out.

£Y has already put in most of an average days move now, so potential could be limited to short side, if indeed the trade is viable at all. We shall see.

I can't see a cup & handle on H1 though? I am trading in H4 direction btw.

Brim of cup around 149.50 , handle , if it forms , will be starting to form around now (like I said not something I've ever traded or tested , just seen, the 'rounding bottom' sort of action on H1 reminded me of the pattern. You could also say it's an inverse H&S , neckline @149.50 , again not a pattern I trade , although I have tested it years ago, hence why I dont trade H&S :cheesy: )


PS. too busy to check spelling :cheesy:

 

[wallstreet1928]

USD/YEN is the KEY to this market Folks

92.5 level

if we fail to trade above t then market go up, up , up ......

Euro is holding 1.464 well after the false break on daily range

I think we could have a boring day on the cards

Bias is still on the upside from here

FTSE 5110-20 Major support as mentioned earlier

Nasdaq already closed gap fill and i have taken profit there............1714 ..key support level, break that and it gets ugly

USD/YEN goes into freefall and what happens to the stockmarket?

Market floats higher...........

YEN holds the key for today .........

nice pop on oil......very profitable!!

Its been an amazing day today chaps, hit my daily profit target 3 times over

currencies really do give you an edge

I hope everybody has enjoyed todays posts and analysis

SP500 levels to watch on the upside 1070 and 1075 ...but we should trade sideways from here

you can view my analysis on
wallstreet1928 | Benzinga.com

Have a good trading week chaps

you can always PM if you need any help

 

[wallstreet1928]

one last trading idea for all my friends on here

I will look to buy USD/JPY ............bull flag on the cards

nice formation for the bulls to ho onto

ideal entry for me would be 91.6 but I don't think i will get that

anywhere in the 91.7 region will be fine ...stop loss 25-30 pips

target 92.5


UUP is hitting gap fill and we are due a bounce

happy trading folks

 

[Geofract]

My stop is now 149.45 on my short of £Y at 149.34 - the trade completely fits my criteria for a valid trade, but I want to limit my risk as much as poss, just in case the market moves against me.

 

[masnachu]

Geo , EY M15 , I know they aren't clean swings , but can you see the possibility that pattern #1 may have just formed ? also note the break of confirmed support @ ~ 135.18 ( = Res formed by 7.45 bar , broke out @ 11.45 , +ve test @ 12.00 , retest 13.00 low , attempts to break higher , snaps back (Bear Engulf) and breaks sup @ 135.18 @ 13.30 , the rally @ 14.30 hints at pattern #2 , far from clean though). Now lets see what the reaction on M15 is like.