FTSE 100 Intraday - November

[mully]

FTSE trendline support close at hand

 

[bonsai]

using the same starting point (4219) on my 2min chart
puts your trend line at 4309 if you include the spike low

 

[mully]

My trendline starts from 4081.8 (September 30th low). However, I do not claim any point accuracy. I then attempt to touch as many points along it line.

 

[bonsai]

ah !
I have started from end of first correction of the current rally.

 

[mully]

The great thing about this thread is that when we all arrive at a similar level, by using different perspectives, we all help each other highlight potentially low risk trades.

 

[mully]

Market still has not tipped its hand.

 

[bonsai]

starting to look a little more stable/bullish ,imo

may go back in again in a mo

 

[mully]

I think it is "tipping its hand"

 

[bonsai]

yes, back in again although it now looks corrective.

 

[mully]

Ftse making heavy weather of it?

 

[bonsai]

azn seems to have the whole index on its shoulders today ?

 

[mully]

THe FTSE certainly needs to take a few pills to liven itself up!!!

 

[mully]

DAX 30 action not very impulsive- so that is not helpful.

 

[bonsai]

what we have here is called backwardation.
taking fair value into account, the cash is more expensivethan the futures.

problem for me is that sb's work off the futures.

 

[bonsai]

still in
you never know, it may just want to test the downtrend line
at about 340 even if it doesnt fill its gap.
(as long as S&P futs behave themselves ?)

hard work today, figuring out what might be going on!

 

[lockstock]

Bonsai,

Watcha,


Is there a gap in the UKX cash, 2nd day running that sierra have had problems with UKX feed?

I have a gap showing on the 60 min chart from c.4,340 down to 4322.

That's today's action by the look of things.


Cheers.

 

[bonsai]

I would say the major weakness is from 38 to 32.
and that is why may be its such a struggle right now.

it's quite important territory.

we gapped up here on the way up and we have gapped down on the way down.
so there has been no trading in this gap during the current phase.

 

[jonnyy40]

Long at the moment because of this mad system.May panic exit in a moment.

 

[jonnyy40]

Just had a 300! point down spike on Mytrack!!

 

[bonsai]

jonny
you certainly have an interesting time, one way or another !

lol