FTSE 100 intraday trading - JUNE 2003

bonsai

Veteren member
4,106 11
Any body into elliott should have picked up the 'c' leg of the 4th
at the open and taken points off the rally to 9.30.
Thereafter either staying short all day or trading the 2 falls should
have provided lots of points.
Today's fall does not look complete ?
End of Quarter !
 

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lockstock

Well-known member
400 4
Great start to the week girls & boys- went short a wee bit too early this am at 4065. Fortunately was out,or my nails would have been cut to the quick- popped back at dinner time it was back down to 4070 D4F put in a stop & limit trade - just arrived back to see my mark of 4031 taken out and a nice 34pts for the day.
:D
So how have the rest of you done- looks like the lower high @ resistance was a great time to short.

Anyone trading today in front of the screen must have picked up
ooh at least 80- 90 pts.

Any reason for the turnaround ? The Dow at the mo still holding the 9000 level- could be another lower high @ 9020!
 

bonsai

Veteren member
4,106 11
well done lockstock
although looking at the chart you must have been very grateful just to break even.

wouldn't call this a turn around, more of a continuation of the fall.
4th wave has finished and we are now in the 5th (I think)
 

bonsai

Veteren member
4,106 11
we yellowstone bears are smarter than your average bear !
I guess that must be why.
<img src="http://www.trade2win.co.uk/boards/images/avatars/calvin_hobbes/Hobbes_7.gif">

are you a bear ? you look pretty scruffy to me !
lol
 

lockstock

Well-known member
400 4
Hi Bonsai,

Yep, case of fools rush in- this am.

More of a turn around on the day- it must have been up over 1% at some point during the day- agree with continuation of overall trend.
60 min chart actually gave a buy signal @ 4050.

Yep, you're right on the break even bit. Oh so nearly closed at 4070 for a small loss when I popped back. 'cos it did look like a bottom @ 4065 ( which in hindsight thankfully I just missed )then a slightly higher low @ 4071- hate loosing even 5 or 6 pts. The rest played out as I thought & hoped it would lower high @ circa 4085 & then a rapid descent :cheesy:


Was wrong about the Dow- now @ 9051/6
 

lockstock

Well-known member
400 4
Bonsai,

Just digesting your comment on the 5th wave.

So do you have a target ?


Looking at it- my guess is c. 4000 mark.

Do you trade the 3rd wave ??


Supposed to be the most profitable.
 

bonsai

Veteren member
4,106 11
lockstock
if we seriously break the bottom channel line, anything
could happen (and probably will)
4000 is a pretty number so you never know.
all I can say is that if this wave is a 5th it should have 5 legs
but if sentiment worsens it could always extend, so I dont
have 'targets'.Its gonna do what it needs to do.
 

kevin546

Established member
699 0
Hi Lockstock still at it I see LOL

Fluke & others as it was a good trading today I have put together my charts from what I did. Fluke I have decided that the 14 RSI is better suited to the trend change deals as it illustrates the trend better IMHO. On the 5 min chart I have decided that the 13 SMA is better suited because it remains that much closer to the price than the 34 EMA when trending the trends tends to give you a wake up call if you are not keeping up.LOL The 34 EMA appears better suited to the 1 - 3 min charts.


Kevin
 

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kevin546

Established member
699 0
My example of trading the 5+ pointers today.
 

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JonnyT

Senior member
2,560 22
Hi Kevin,

On your chart why would you have gone long at point 9.

The trend was still down then surely?

JonnyT
 

kevin546

Established member
699 0
JohnyT,

A temporary trend change with a higher pivot which was followed by 2 more before the price resumed the trend.

Kevin
 
 
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