FTSE 100 Intraday trading - MAY

bonsai

Veteren member
4,106 11
fluke
very reasonable argument

but I have known flat corrections to be 3 x A

and at the moment I am on the right side of the trend.

its never nice though when it loses the gain line and needs to recover fairly quickly.

at the mo my stop is 60 on the cash.
 

bonsai

Veteren member
4,106 11
Fluke
appreciate the vote of confidence but
please always do your own thing.

my reasons for doing anything are all in the present
in 10 mins I could have changed my mind.
 

Wideboy

Well-known member
489 1
The uptrend does seem to be struggling now.
Time to sit out and wait for more confirmation - market too flat at mo.
Remember, being out of the market is still a good position :)
 

FTSEBOY

Member
87 0
Bonsai,
I like your chart you posted. I am just about to ask Trade2win what anyone thought of ADVFN UK Platinum package with Advanced Level 2, as I have opened my IB account but it is doing my head in trying to find the right package with streaming charts for FTSE cash and futures,volume,RSI and a function where I can input pivots.
Cheers
FTSEBOY
 

bonsai

Veteren member
4,106 11
ftseboy
before you subscribe to that package I suggest you join their premium bulletin board.
and do nothing else for a week or 2 until you have read what advfn posters have to say about it.

caveat emptor ?

by the way I am also on advfn premium board.
 

Wideboy

Well-known member
489 1
Long FTSE 4072 - 15 min rsi trend line broken to the upside, looks like its caught its breath ready for another climb...
 

bonsai

Veteren member
4,106 11
do you resistance lines ?
nobody seems to have mentioned them but maybe that's because its a name I have coined for a particular trading aid.
the following chart shows wht I mean. The line is drawn starting from some significant low up through the first time a high occurs.
so starting from 'support' it has turned into 'resistance'. But the index did not give up and is now climbing to ?
there is a strong possibility it will continue to climb until it is hit again. And also note there is now clear sky up to 4100.
EDIT
I have just noticed there are 2 lines on the chart. The resistance line is the one starting at 3928. Ignore the other one, thats doing something entirely different
<img src="http://web.onetel.net.uk/~gawgaw/resist.gif">
 
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Wideboy

Well-known member
489 1
Yes I also draw trend lines on RSI and use the breakouts as signals. The breakouts tend to occur on RSI before the actual price breaks out thus giving you a nice entry :)
 

bonsai

Veteren member
4,106 11
its been a long wait
but it looks as though somebody is getting impatient anticipating a further dow surge.
ok if it happens but watch out for the falling knife if it doesnt !

trin is looking good at the moment.
 

bonsai

Veteren member
4,106 11
Is this a dagger I see before me ?
.
.
or art thou but a dagger of the mind, a false creation
proceeding from the heat opressed brain ?

W.S

lol
 

bonsai

Veteren member
4,106 11
that was a tiring day
still something to show for it. !

patience is a virtue ...........?
especially with ftse.

hope you all did well.
a bientot.
 
 
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