FTSE 100 Intraday trading - August 2003

hungrybear

Active member
209 0
cguesty Thanks, I do follow RH, though he's been a bit out recently. For trading the Dow with ongoing daily update, Bartley's particularly good, but she's on holiday. Right now, my preferred scenario is that outlined by Raptor, as I think we're going down for 2-3 days then up to new highs. This fits with other cycle analysis I use.
 

bonsai

Veteren member
4,106 11
do you get the feeling that somebody just pulled their
order book at 135 and reistated it at 115 ?

in the lead up to the Dow open.
 

waqr

Active member
128 0
HB

Elliot categorised diff degrees of trend ranging from a grand supercycle to one covering only a few hours. The point is that either you accept that the markets conform to the eight wave cycle or you do as I do and reject it, but to suggest that EW's "pretty useless right now" is like saying that you'll believe it when it fits in with the rest of your analysis.

The essential point is whether markets move in the eight wave cycle that elliot described. I do'nt believe that they do and as I said in my earlier post, the EW theory could have been set up to describe 13 waves and the result would be the same as we have now with 8 waves.
 

bonsai

Veteren member
4,106 11
looks like first serious break of that fib ?
and the fall is following that top line from the 172 high

needs to accelerate or reverse ?
 

hungrybear

Active member
209 0
waqr

It's not a case of choosing when I believe it; it's about recognising when it's in a phase that's useful to support my trading. Right now I don't trust my wave count assessment due to the ambiguous nature of the corrective phase it's in. But that's part of understanding EW. In a way it is giving me useful information!

I do believe that the markets move in the 8 wave cycle, which also makes perfect sense from a logical perspective.

Bottom line is that I like EW and you dont. It doesn't matter as long as we trade successfully!
 

bonsai

Veteren member
4,106 11
elliott
if we can agree the last rally started at 4045 and we have had
5 legs up to 184 then this correction should be heading for
previous 4th .I suspect that is around 4080.

Anyone else see the same thing ?
 

bonsai

Veteren member
4,106 11
Also if we can agree that 4115 yesterday was the end
of A and (although I had no takers) the rally yesterday was B.
then A=70 so if C=A*1.38, C=4075.

its all hocus pocus of course.
 

barjon

Legendary member
10,705 1,809
bonsai

don't know about ew but there's candlestick
support (minor) at 4087.

all ftse 12 are losers at the moment.

jon
 

bonsai

Veteren member
4,106 11
data coming thru' a bit late but

1 BP 418 -8
2 Shell 385 -4
3 AstrZen 2433 -50
4 GlxoSmK 1155 -37
5 HSBCord 766 -4
6 RoyBank 1736 -21
7 Barclay 458 -10
8 LloyTSB 457 -26
9 Diageo 632 -3
10 BT Grp 195 0
11 Vodafon 115 -3
12 AngloAm 1083 2
13 Cadbury 378 1
14 RioTint 1306 16
15 Tesco 212 -3
16 Unileve 505 -5
 

bonsai

Veteren member
4,106 11
may have to give it best soon.
starting to get too close to the close.
but todays chart pattern is so good you may see it in text books in the future.
almost the ideal day traders pattern.
 

bonsai

Veteren member
4,106 11
:LOL:

sometimes its so predictable.
after that fall at 4pm who is going to go short ?
so the mm's can just take out many shorts with almost
no hassle. Their only threat is probably the locals.
 
 
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