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

[10pips]

can u show an example of daily s&r lines?

a quick chart to show the S&R lines for today.

At the moment, market is straddling along the main pivot line of 5213

 

[dr.blix]

morning all,

for all those that may be just starting out (like myself) with all this...PLEASE don't start your education with enormous £ pp positions. attain the consistency FIRST with either demoing or tiny positions...in my opinion the build up of position size should happen over a long period of time and only should only be gradually stepped up once relative consistency is achieved.

 

[dr.blix]

i was stopped out by 3 pips on my overnight position.

not surprising us newbies whine on about IG and stops...sometimes they're taken out so surgically its hard to quell the conspiracy theories :cheesy:

 

[litetrader]

Trading the down trend: Has anyone tried strategy to trade on downtrends and pullbacks only? Downs happen faster whereas ups usually take a while. Is there any ratio which shows that down trend trading is more successful?

 

[Dentalfloss]

Trading the down trend: Has anyone tried strategy to trade on downtrends and pullbacks only? Downs happen faster whereas ups usually take a while. Is there any ratio which shows that down trend trading is more successful?

depends what signals u want to take
ie oversold or just plain pullback

 

[Manya1983]

Ok guys onwards and upwards, no point in dwelling on the past otherwise we will revenge trade and cloud our judgement.

On the radar for today, the CAD/JPY short from yesterday is still showing signs of heading lower. We have now breached 8600 with a nice bearish outside bar on the way down. Will look for a close below 8600 and put a short with the SL just above the bearish outside bar. On the hourly.

 

[matrader]

Morning!

You made 300 gbp then Matt yesterday?

Sorry for delay in reply - had to leave for office.
Yes it was a good day(better than the norm for me as I normally bottle it as/IF I approach my 15/20 point target)
-10 so far today though....

 

[litetrader]

Dentist - signals I look at are a) trend(LL,LH,LL); b) oversold using RSI and Stochastics. 30min, 15min and 5 min timeframes.

depends what signals u want to take
ie oversold or just plain pullback

 

[TomTom]

Good Morning all,
Yesterday I went go karting and on my return I noticed that we were very close to support and seen USA markets keep in testing it.
This happened 3 times with a final test I was sure that it were to be breached.
Naturally I went short and sat back for support to be broken.
In the fainal half hour I saw such strenth like never saw before.
the market bounced from support like a rubber ball taking my shorts out at a large loss. The loss was bigger than normal as these type of patterns normally follow through passed the support.

The markets are quite whippy, so for me I will be taking the rest of the month of, see you in November

 

[Da.DesiTrader]

Morning everyone. Long from 5195, S/L at 5149. Target 5250. May close early if see signs of weakness/reversal. Jumping over 5200 however is good sign.

 

[litetrader]

Strong resistance at 5214 near pivot point. Touched it a few time to then bounce back down. Da. Desi - you think it will break this resistance level - right?

 

[Da.DesiTrader]

Strong resistance at 5214 near pivot point. Touched it a few time to then bounce back down. Da. Desi - you think it will break this resistance level - right?

I think so. Specially after such a downdraft. A lot of silly retailers/suckers would be jumping in to buy at the dips. I intend to take a share of their money, and get out when its ready for drop. I could also be very wrong, but this is why we have stops.

 

[10pips]

Anyone in here ever used paltalk?

As someone has created a 'day trading ftse chatroom' on there, it just needs UK based traders to fill up the room.


THIS IS THE DIRECT LINK - http://express.paltalk.com/index.html?gid=1311206625

 

[litetrader]

Good call da.Desi - it broke through the 5214 resistance.

I think so. Specially after such a downdraft. A lot of silly retailers/suckers would be jumping in to buy at the dips. I intend to take a share of their money, and get out when its ready for drop. I could also be very wrong, but this is why we have stops.

 

[Da.DesiTrader]

Good call da.Desi - it broke through the 5214 resistance.

5234 in my view is quite key. If we break through that one, we could see FTSE retesting5270 region again.

 

[10pips]

good call DDT. a break through of 5236 may lead to 5260 in the region during afternoon's US opens

 

[Manya1983]

Another DBHLC forming on the CAD/JPY with a break below a key level once again. The one from yesterday went on a 120 pips run for a 40 pip SL. 3:1 ratio.

Waiting for the current 4 hourly bar to close below 8597 to act as confirmation. SL would be 8635.

I like this pair as Canadian strength has been sounded act by the central bank whilst the currency will also fall if equities decline and investors seek the refuge of the yen i.e. the trend should be further downside.

 

[Da.DesiTrader]

Good call da.Desi - it broke through the 5214 resistance.

Stop amended to 5195. Locking in a bit of profit.

 

[dr.blix]

falling wedge forming on the E$ 10min TF.

i'll be looking at a possible long from 850, if the 10min TF falling wedge pans out signalling a rise, then on the H1 this could also be a potential double bottom.


EDIT: i'm off to work. i've put a buy order in @ 851 stop 831 target 914 R/R of 1:3

 

[dr.blix]

short E$ @ 882 target 855

this is a bit cheeky, as i see a lot of bullish osc div on the 10m TF, but if i don't short, then my concept of a long from 850 is flawed!