FTSE 100 Intraday - November

[qaza]

Hooya,

Makes me think the trend is up

 

[Hooya]

exactly...so maybe the bear market hasnt even started..yet!!!

well it gives us another angle to view from

 

[hungrybear]

Perfectly said Hooya. We've bearly had a retracement. Considere the timing as well. Up for so long, is a 3 year drop really long enough?

 

[sumathik]

Hooya

we had 4th wave pullback from the highs .
now in the 5th wave up will take us to 10500 roughly.
then the bearmarket is here.

anything like nikkei we will see dow 80%down from the 2000high will be under 2500.

fits well with your chart.

please go easy on me as i am just giving my thoughts.

these are all just my views by looking at the data/economy activities.
but will be over few years to come

sk

 

[bonsai]

qaza
I think you missed the point.

it certainly turned on a sixpence.
go and look at the turn.

 

[Hooya]

well looks like the profit taking has started early in the US what time do they close today?

 

[bonsai]

hooya
I posted that chart a couple of days ago.
the trick, I think is to draw your support line.
I drew mine.
where is yours ?

 

[qaza]

qaza
I think you missed the point.

it certainly turned on a sixpence.
go and look at the turn.

I'm looking at the S&P...............which dates are you talking about?

 

[jonnyy40]

Hungry Bear,is it the Oxford club (some offshoot)?

 

[bonsai]

qaza
well dont

lol

you should be looking at ftse.

 

[bonsai]

that's it
I'm out

I'm not getting caught again like last night.

a good day and back to two good swings again.

 

[fotheringham]

I make today a key reversal day (new high with the close less than the low of yesterday).

 

[bonsai]

just been looking at the charts again.

we had barjons stalled pattern and now we have a rather large hanging man.

this smacks to me of the end of a B wave.

sorry, hb, I know you dont like that because it made a new high
but there arent any golden rules about that and I have seen it
many times before.

so we must call it an extended flat.
the bottom channel line beckons, I think.

 

[bonsai]

fotheringham
thanks for that

yes, I agree and an important day.


PS: I wonder what the commentators will blame that on ?

Blair's content of the Queen's speech ?

 

[hungrybear]

Jonnyy40,

No, it's Delta. Not great on it's own but excellent as a supporting tool for trends

 

[jonnyy40]

Thanks.

 

[hungrybear]

Bonsai, I have no problem with expanded flats. I think the dow's just done one! You could be right.

A key lesson I've learnt is to have a view on the wave count but to trade the market as it happens. I think you said that some time ago. I still make mistakes, but I've done a lot better over the last few weeks.

My biggest mistake recently has been to be influenced by other peoples views and events. It was a couple of weeks a go that I predicted a Ftse high today ( I said I didn't know if it would be a new yearly high or not). Events last week convinced me to change my analysis, then I didn't recognise the trend change.

 

[bonsai]

hb
yes, I do remember your prediction.
spot on.
although I thought it might be at a higher level than we achieved.

anyway, here is my candle chart

 

[hungrybear]

Bonsai, It missed target by about 10 points or so, but did hit a fib extension. EW count looks complete, but if it's going up again the next likely day for a top is Monday, if it can hold up that long.

 

[barjon]

candlesticks a bit mixed. After the stalled pattern todays action
resulted in a high wave (shooting star type) which is a further
negative if confirmed by downward open/movement tomorrow.

however, Monday's long white candle should start giving support
from half way down (4350) to its base (4319). It should be bad
news for the bulls if 319 goes.

Some bullish cheer is that the high wave can signal a market in
indecision so an upward break may result.

Time will tell all.

good trading