FTSE 100 Intraday trading - August 2003

morning
I can see the possibility of pull back to 25 which is about 50%

but not much beyond that . Any thoughts ?
 
bonsai

Confusion over your fib call this morning. Does suggest that a move to focus on individual EW counts would be extraordinarily confusing. It also suggests some additional confusion over identifying very basic support/resistance levels.
 
bonsai

sorry i forgot to thank you for your reply re charts. However, the site doesn't allow 2 or 3 day one minute charts. But thanks anyway.
 
mully
sorry, I think you will have to expand on your first post.

I cant make sense of it.
 
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thought it might be a bit like this today.
enough to test the patience of a saint ?

I expect we will get there but ZZZZZZZzzzzzzzz !

and with a favourable wind may go to 30+

oops: thats 130 as opposed to 030.
 
Bonsai

Sorry the confusion.

i was attempting to highlight that when you identified the fib at 25, two people thought you were referring to the 4025 level and not the 4125. If there is confusion over identifying a single level, what confusion can we all create if we all attempt to identify the current EW count?

As an aside using the down move yesterday from 4147 to the afternoon low of 4095 (52 points) , I got the 50% fib at 4121 (but then who is worriedover 4 points)
 
ok , but are you being just a little pedantic ?

what I said was I thought there would be a pull back to 25.
and 025 would not have been a pull back but a continuation.

I will be continuing to nominate wave counts from time to time
but only the shorter term counts when they are relevant to
intraday trading. (I expect everyone trading intraday to have at
least 25 days on hand)
Not the longer ones which really need to be accompanied by a
chart to help the viewer understand.
But if anybody wants to do that, I have no problems as long as
they post a chart with their wave count.
 
Bonsai

TOO TRUE, but it is a very hot (close) day, and I am trying to stay alert.
 
ok
by the way, the action yesterday could still prove to be a 1/2 as we did not make a lower low this morning when we seem to have seen the 5th of c.

and if you noticed Calls got quite cheap yesterday I thought.
 
A bit late in the day, but if anyone is seeing significance in the
huge increase in volume as we approached 120 around 11am
you might like to know that there was an exceptional trade
in lloy (80m shares - 2x40m) at that time.

Might not make any difference - the battle lines between 090
and 125 seem quite well drawn.

good trading

jon
 
dont usually track volume on individual stocks unless I am
looking to trade them and not always even then. Dont think that
was a prime mover in the current 10 pt fall though. The price seems relatively stable ?

Do you have a chart you could put up ?
 
Bonsai

I have the simple Yahoo chart in one window since I like the
candlesticks particularly when associated with volume at or near
resistance/support. Therefore got quite excited when huge
volume and shooting star!! Noticed huge volume in lloy when
looking at ADVFN monitor (for my swing trades) and checked
it out - excitement waned a bit!!!

got to dash out now - will pick up pm.

good trading

jon
 
I know my call of 25/30 might have surprised some of you
when we were still falling but I hope at least a few saw the light
and made some money.

if not , I would be interested to know what you did trade today.
 
bonsai

back again. you don't seem to have had many takers - must all
be out enjoying the sun. for me long @ 108 just before 10am
on candlestick and ma20 confirmed support out @ 116 on that
aforementioned shooting star. That's the index fills were 110
and bits and 113 so pretty feeble - never know whether to report fills or index?

didn't short as explained but may have been tempted if I hadn't
been going out - maybe a lucky escape.

a strong last half hour?

jon
 
barjon
seems to me we had 5 legs up today followed by an abc with a failed retest. So the last hour may have been the start of something .
but first we need to break up through the line across the tops since 172

pity about that shooting star. but you will already know that is
does happen in short time frames.
its one of the reasons I dont get on with candles and prefer macd
which is more of a trend hunter.
 
Bonsai.

Have you posted a link yet, as to where to find the 'dot charts' you use sometimes. They've intrigued me, as i often take trade using gaps.

thx

temp
 
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