FTSE 100 Intraday trading - August 2003

bonsai

Veteren member
4,106 11
I dont usually post in this amount of detail but in view of
issues coming up on other threads I thought you might like to get
a feel for what's going on on this particular computer and bit of an insight about what I am thinking.

hope it has helped.
 

hungrybear

Active member
209 0
Bonsai,

Yes, thanks for posting. You have a different trading method to me and it's interesting to see your entry points and reasoning.

I've only had 1 entry signal using my system, which I didn't take as I'm not confident about the market direction - if I had taken it I would have closed for a measly 1.5 points! System not working too well in these tight trading times and until I see a clearer direction I'll remain cautious. Having said that, I do expect a down market going into next Tuesday, so I'll be looking for a short later today.
 

bonsai

Veteren member
4,106 11
thanks HB
I wish I knew in which direction the next tick was going
let alone next tuesday
:LOL:

dont care much either.

just give me a chart and a low risk set up.

PS: falling back to that up line I mentioned.
 

barjon

Legendary member
10,705 1,809
belated mornin' all

Another see-saw day (?) not suiting my signals at all - been like it most of week. Still running sept longs (and avz) so not out of play entirely.

bonsai - chased your dotty chart :eek: one born every minute! dunno why it's always me, shan't let you have my magic 3 wood now!

good trading

jon
 

mully

Established member
967 3
bonsai

"give me a chart and a low risk set up"

thats my attempted approach having read both Piper and Tony OZ (The Stock Trader)

Market tested yesterday's intra day top at 4125 around 11/12.00, then rallied up to test the first support from high of 4170 around 4148. Appears to be failing. So back to test 4125 again. Not doing too much to-day ahead of US non-farm payroll numbers at 1.30 pm.
 

mully

Established member
967 3
Despite my protestations about using EW, cannot the whole move from 18/06/2003 be classified as a Wave 4-profit taking. A basically extended sideways move.

Probably wrong thread. Any thoughts on the extreme moves by the US bond market since early June of over 1.2% yield in 30Y Bond? (+38%). When does it become an issue for the overall health of US economy/global economy?
 

bonsai

Veteren member
4,106 11
mully
I guess elliott is always going to be ambiguous just like the market.

On the bond market , higher yield may portend increase in inflation ?
or just selling and sending their dollars overseas ?
but it was a touch overbought wouldnt you say ?
 

mully

Established member
967 3
bonsai

Agree overbought.

However, didn't 1987 have the pattern of rising stockmarkets initially ignoring a sharp rise in yield. And we all know what eventually happened.
 

bonsai

Veteren member
4,106 11
barjon
in the meantime here is today's
sorry about the size.
 

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hungrybear

Active member
209 0
I've been reviewing interpretations of the EW pattern for the Dow (yes I know this is the Ftse thread) and I don't think I have enough fingers to count them all. I do like EW, but right now it's useless, other than to say the markets at or near a top. It could go down or up from here, but other indicators suggest at least a 2 day down move. Personally I'll be looking for another pop up from mid-next week; then just have to see how high it goes by the 3rd week of August.
 

bonsai

Veteren member
4,106 11
mully
yes but then the stockmarkets were making new highs.

anyway correlation with bonds is not that good.
different traders involved I guess. so different trading reasons.
usually a lag between changes in bonds and stockmarket tops.
but it is a warning sign when at new highs.
 

bonsai

Veteren member
4,106 11
Lambchops
thought we might have heard from you again
or are you too busy banking it all ?
 
 
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