FTSE 100 - April

Status
Not open for further replies.

bonsai

Veteren member
4,106 11
One down, three to go ?
Not the most scintillating of quarters, wouldn't you say.
started at 4476 and ended at 4398

Never mind, spring is in the air and the trout season is getting under way !! so some of us have something to be cheerful about.

The current fall started when Ftse failed to cling on to the bottom channel line.
So any rally now is likely to find that line providing resistance.

I have suggested this might be the start of the 'B' wave down but we could do with a failed retest of the high to confirm the high is in for some time.

65 day average is at 4450 and falling.

There is a support line from 3600 last year which runs under the lows , particularly 4082 and 4295. I haven't drawn it on the chart but you might like to.
(it may be nothing, but you never know ?)
 

Attachments

  • mar04.gif
    mar04.gif
    9.5 KB · Views: 976

bonsai

Veteren member
4,106 11
looking atthe calendar I posted earlier in the year, the August expiry date needs changing.

so here is revised version.
 

Attachments

  • 2004a.gif
    2004a.gif
    41.1 KB · Views: 953

bonsai

Veteren member
4,106 11
now I have dusted it off, I might as well use it I suppose.

so here is the chart again.
 

Attachments

  • kase.gif
    kase.gif
    49.7 KB · Views: 938

Hooya

Experienced member
1,802 2
been hard to get on t2w today. A retest seems unlikely to me but as you say possible. Think tomorrow could mark a high. The fib at 29 looks a tough cookie to crack imo. US looks tired to me so once the data is out of the way tomorrow......it can raom freely. Hopefully it will push up into the close so the FTSE spikes in the morning.


Thanks for the calendar update. no other news. Just looking forward to normal trading hours next week
 

bonsai

Veteren member
4,106 11
odd sort of trading day

it wasnt so much as 'filling its opening gaps' as
'filling all the gaps' left yesterday afternoon and this morning.

you may have had dificulty making money today unless you were following the wave count and even then not very much.
after the early high, it spent nearly all day making an abc until the reversal signal at about 2.30pm
But that was a higher low on the macd, so not to be sniffed at ?
 

bonsai

Veteren member
4,106 11
getting a bit rarefied up here given all the hype ?
and its only 11am.
if we stay up here, I will soon be overbought.
but a flat correction could work it off.

this fib is turning out to be more important than I had thought.
 

Hooya

Experienced member
1,802 2
my charts are saying teh correction up is over but tobe honest they have been saying that most of the week and the index just falls a bit easing the indicators for another push up but the push never really amounts to anything. Spx look tired after it hit its fib last night but dow as always look bizarre to me. They are expecting 120k non farm payrolls today. be interesting to see if they get it.
 

bonsai

Veteren member
4,106 11
nice bounce up from 1 day ?

so now on to 4460 ?
 

splasher

Active member
103 0
I've got 4458 as the 38.2 retracement of the recent shenanigans so am targetting that from a short at 4475.
Does that fit in with your calcs?
Splash
 

Hooya

Experienced member
1,802 2
Bizarre day eh? By the eod FTSE looking stronger than Spx. US V overbought now with divergences again.
 

splasher

Active member
103 0
Bizarre indeed. Leaked figures that have had more impact on European markets than US.
Why Gilts are down a point on the fact that interest rates in the US are likely to increase when we already know ours are on the way up is odd and the renewed vigour in the FTSE seems very over done.
I guess the 4500 level looks tempting and maybe we'll see it on Monday, then again maybe sense will prevail and we'll get back into sensible territory.
Quite happy to be short here at these levels as worse case scenario is probably scratching next week..........brave words but makes me feel better.
What levels are you looking at on the June FTSE?
 

Hooya

Experienced member
1,802 2
Im trading the cash. We are currently in a nice channel and nearly hit the top line. Theres also the underside of a trendline from september which is around 4500. BUt im noy worried about buy and selling this market at moment.

Bonsai you have a PM
 

Attachments

  • ddsa.gif
    ddsa.gif
    35.7 KB · Views: 636
Status
Not open for further replies.
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock