tradesmart
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Hampy
5min chart RSI settings are 5/3/70/30/1 (CCI-50/0.015/200/-200)
All this with SierraCharts - different chart packages might require different setups.....
HTH
Regards
5min chart RSI settings are 5/3/70/30/1 (CCI-50/0.015/200/-200)
All this with SierraCharts - different chart packages might require different setups.....
HTH
Regards
02/09/2004
Hi,
Bad day for me. Kept a short overnight from yesterday @ 10161.
Spent most of the day hoping that the obvious triangle wasn't happening. Pretty sure that we're in the terminal stage of a C wave. Difficult to define exactly what the pattern is but looks like nested abc.x.abc patterns. Thinking that this final push wasn't going to happen but it did, and looks like a final abc set.
Added in additional shorts as seen on the 5 min chart at *2,3,4,5 and 6 positions. Total down on the day of 11.19%, just under -82 DOW combined points from entry, (in comparison, I made 32.6% in my last full weeks trading).
Looks very overbought in time frames upto hourly with huge ND on the hourly MACD. Hourly ADX has dropped throughout this channel, so I'm reasonably confident that we'll see downside from here.
Afer hours trading looks like Intel surprised to the downside ... and it beats me why this market rose today.
I've got a mental stop-out at around 10350 which will be the upper trend line of the channel seen on the hourly chart, but it'll hurt, a lot. First target in mind is the bottom of the channel around 10100.
Tomorrow's another day. Must remember to watch CM's targets. :idea:
Hi,
Bad day for me. Kept a short overnight from yesterday @ 10161.
Spent most of the day hoping that the obvious triangle wasn't happening. Pretty sure that we're in the terminal stage of a C wave. Difficult to define exactly what the pattern is but looks like nested abc.x.abc patterns. Thinking that this final push wasn't going to happen but it did, and looks like a final abc set.
Added in additional shorts as seen on the 5 min chart at *2,3,4,5 and 6 positions. Total down on the day of 11.19%, just under -82 DOW combined points from entry, (in comparison, I made 32.6% in my last full weeks trading).
Looks very overbought in time frames upto hourly with huge ND on the hourly MACD. Hourly ADX has dropped throughout this channel, so I'm reasonably confident that we'll see downside from here.
Afer hours trading looks like Intel surprised to the downside ... and it beats me why this market rose today.
I've got a mental stop-out at around 10350 which will be the upper trend line of the channel seen on the hourly chart, but it'll hurt, a lot. First target in mind is the bottom of the channel around 10100.
Tomorrow's another day. Must remember to watch CM's targets. :idea:
FetteredChinos
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well guys and gals, we got my 100+ day that i suggested , but i have to admit the manner of it caught me by surprise!!! we are overbought on nearly every indicator imaginable (not that that is any guarantee of a drop) , and near the top of the channels as per CM's analysis.
my analysis , for what it is worth, is that we have a big down day today too (possibly going below yesterday's low). just to spice things up further we have the Non Farm Payrolls today, andf the only way i can see the low being broken is if the economic data is either horrendous, or stupifyingly good (hence spectre of interest rate rises)
FTSE has just closed its gap open, and i have a feeling it has further south to go.
we had lengthy ND towards the end of yesterday on the DOW. and i have a feeling we will see sub-10,200 today.
yesterdays relentless move upwards at the end of the day looked like stop-running after we finally broke 10,200 , wouldnt you agree?
FC
my analysis , for what it is worth, is that we have a big down day today too (possibly going below yesterday's low). just to spice things up further we have the Non Farm Payrolls today, andf the only way i can see the low being broken is if the economic data is either horrendous, or stupifyingly good (hence spectre of interest rate rises)
FTSE has just closed its gap open, and i have a feeling it has further south to go.
we had lengthy ND towards the end of yesterday on the DOW. and i have a feeling we will see sub-10,200 today.
yesterdays relentless move upwards at the end of the day looked like stop-running after we finally broke 10,200 , wouldnt you agree?
FC
FC ,absolutley, I gained a few points on its way to 10200, then shorted too at that stage thinking it's run out of steam I was also counting peaks, not looking at the broader picture, i.e 10 min charts etc.Lost 90 points but was dealing small thankfully.RSI, seems to be better indicator than CCI need to do some homework on strength to price action ratios though...
sall
sall
FetteredChinos
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yup mate, i actually brought my short level in to 10,250 as when i left the office i thought that there was no way we could hit 10,300 and that 10,265 (my original level) seemed a bit on the high side. so i was a bit concerned when i checked the Dow action on my mobile after i had finished playing football to see we had hit 10,300 
still, at least it means i got filled, and we are back to break-even as i type (well nearly)
FTSE seems to be finally gearing up for a negative day too.
about bloody time lol!!!
FC
still, at least it means i got filled, and we are back to break-even as i type (well nearly)
FTSE seems to be finally gearing up for a negative day too.
about bloody time lol!!!
FC
FetteredChinos
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btw, my stops are just above yesterday's high on both the DOW and FTSE
FetteredChinos
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what is it with you and fruit DC?
far, far too healthy for a friday
far, far too healthy for a friday
Hampy thanks for the tip re: looking at 5 minute charts. Someone told me this before but in the heat of the battle I forgot.
FetteredChinos Could I ask how you check the Dow on your mobile?
I see we have some news due out today:
Sep 03 08:30 Nonfarm Payrolls Aug 135K 150K 32K
Sep 03 08:30 Unemployment Rate Aug 5.5% 5.5% 5.5%
Sep 03 08:30 Hourly Earnings Aug 0.2% 0.2% 0.3%
Sep 03 08:30 Average Workweek Aug 33.7 33.7 33.7
Sep 03 10:00 ISM Services
Not sure how much of it is relevant. I know Nonfarm Payrolls is important and didn't someone say ISM can stand for It Sinks Markets the other day?
Good luck everyone!
Justyn.
FetteredChinos Could I ask how you check the Dow on your mobile?
I see we have some news due out today:
Sep 03 08:30 Nonfarm Payrolls Aug 135K 150K 32K
Sep 03 08:30 Unemployment Rate Aug 5.5% 5.5% 5.5%
Sep 03 08:30 Hourly Earnings Aug 0.2% 0.2% 0.3%
Sep 03 08:30 Average Workweek Aug 33.7 33.7 33.7
Sep 03 10:00 ISM Services
Not sure how much of it is relevant. I know Nonfarm Payrolls is important and didn't someone say ISM can stand for It Sinks Markets the other day?
Good luck everyone!
Justyn.
FetteredChinos
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justyn, i take it you have a WAP enabled phone?
enter the URL as
uk.wap.yahoo.com
then go to the finance section. and there should be an "indices" page. this has the UK indices, and the main US ones too.
as far as i can tell, the data is only delayed by a couple of minutes, and no more than 5.
www.stockpoint.com also has mini charts i believe (if your phone can cope with wap images), but this is delayed by 15 mins
hope this helps.
FC
enter the URL as
uk.wap.yahoo.com
then go to the finance section. and there should be an "indices" page. this has the UK indices, and the main US ones too.
as far as i can tell, the data is only delayed by a couple of minutes, and no more than 5.
www.stockpoint.com also has mini charts i believe (if your phone can cope with wap images), but this is delayed by 15 mins
hope this helps.
FC
alliance
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FC:
My understanding is that the info is 15-20 mins delayed.
Justyn:
For an instant current verbal update on any index, stock etc when out and about, I just call my sb and ask for a quote on the position(s) I have open or any I am interested in. Once told, I just say no trade..tnx
My understanding is that the info is 15-20 mins delayed.
Justyn:
For an instant current verbal update on any index, stock etc when out and about, I just call my sb and ask for a quote on the position(s) I have open or any I am interested in. Once told, I just say no trade..tnx
FetteredChinos
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thats what i thought alliance. BUT, i tried comparing it to live prices and it almost matches.
plus, for a test, have a look at the prices at 9.05pm , just after the final close at 9.03pm. it seems to have the final close price up by then.
or, for a more "immediate" example. check out the prices just after 2.30. you will see that they start moving a couple of mins after the official open.
still , its better than nothing
plus, for a test, have a look at the prices at 9.05pm , just after the final close at 9.03pm. it seems to have the final close price up by then.
or, for a more "immediate" example. check out the prices just after 2.30. you will see that they start moving a couple of mins after the official open.
still , its better than nothing
nice n smooth
Newbie
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Sorry To be a bore !
Looking for historical data on DJ and FTSE at say 15.00 anyone any ideas where this can be downloaded
Looking for historical data on DJ and FTSE at say 15.00 anyone any ideas where this can be downloaded
Hi..........I just wanted to thank Sall and GKB for their recent posts on yesterdays action.
After paper-trading CMs system for some weeks, I finally decided to take the plunge yesterday and place some actual trades. I ended the day down 37 points and I was really beating myself up over it. After all, it wasn't as if yesterday was one of those difficult 'flat, choppy' days that we sometimes get.
So it is very encouraging to read that I was not the only one who found it a bit tough. But now I think I will do a post-mortem to see what I can learn from my mistakes and if they could have been avoided. I am finding the comments on this thread a huge help and I also enjoy reading Trader Tonys' analysis and comparing it with my results.
best wishes, debs
After paper-trading CMs system for some weeks, I finally decided to take the plunge yesterday and place some actual trades. I ended the day down 37 points and I was really beating myself up over it. After all, it wasn't as if yesterday was one of those difficult 'flat, choppy' days that we sometimes get.
So it is very encouraging to read that I was not the only one who found it a bit tough. But now I think I will do a post-mortem to see what I can learn from my mistakes and if they could have been avoided. I am finding the comments on this thread a huge help and I also enjoy reading Trader Tonys' analysis and comparing it with my results.
best wishes, debs
FetteredChinos
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err what spike?
anyway. i have now moved the majority of my stops. to 10 350 and higher. no point getting whipped by the data, so i shall manage the position by ear. may have to close my eyes for this one.
am in a hybrid position at the moment on the DOW. genesis trade will have me closing out today, but ive got a longer term bearish view over the coming month.. might see 10,000 again at some point.
lets see what happens. trade what you see, not what i say, etc.
FC
anyway. i have now moved the majority of my stops. to 10 350 and higher. no point getting whipped by the data, so i shall manage the position by ear. may have to close my eyes for this one.
am in a hybrid position at the moment on the DOW. genesis trade will have me closing out today, but ive got a longer term bearish view over the coming month.. might see 10,000 again at some point.
lets see what happens. trade what you see, not what i say, etc.
FC