FTSE 100 Intraday Trading - October

[bonsai]

here is the hourly chart.
nothing to add really.
can't guarantee the highs will come in to synchronise with my 1 hour plots but you get the message.

 

[bonsai]

morning
lecter
ftse.bmp
are you sure that file contains a chart ?
give it a double click for me,wouldyou.

 

[bonsai]

first fib covering the whole of that up move seems to be about 4227
futures expired at 4297 so the bulls now have their feet wet again.

 

[hungrybear]

I have the 23% fib at about 4267.

However the Ftse's hit and bounced off the 76% retrace of the move up from the low on the 7th.

 

[bonsai]

I'm sure your right hb.
its just that I dont use that fib
just 38/50/62 as they seem to provide the best trading opportunities.
I am working now on 4316/4082, assuming the whole of the abc is now complete.

for example you say we have hit 76% but have you gone long as a result ?

(can't see any indications of a mood change, myself)

 

[hungrybear]

Yes I am long. My other time indicators suggest a high tomorrow, retrace Mon/Tues (Tues turn day?) then a higher high on Thurs/Fri next week.

Mind you, it's the kiss of death when I predict the market

 

[bonsai]

fair enough.

you could be right.
can't see the bulls sitting quiet under the thumb.

big gravestone doji though.

(RSI still falling)

 

[barjon]

mornin' all

yesterday's gravestone doji will only be negated by a strong
upward close.

can't help thinking there's a lot of safety first about because
so many are forecasting a major down in the DOW. our bulls
out in the morning, then protecting their positions after lunch
and standing on the sidelines to watch how DOW performs.

wonder if traded option volumes say anything?

 

[hungrybear]

I also prefer to look at intra-day highs & lows rather than eod. After an early morning drop, as yesterday, we didn't break yesterdays low, but obviously went higher, so I count yesterday as a positive day despite the negative eod. I'm expecting 3 days up, so we should make a higher high today and tomorrow. If we don't I'll review my analysis.

General point to lurkers: Please bear in mind that I'm not a very experienced trader, so whilst I'm happy to share my analysis please don't dont base your trades on it!

 

[hungrybear]

The same analysis applies to the Dow (see my previous post), so unless the Dow breaks yesterdays low I'll remain bullish and expect new highs there as well.

FWIW, I have a target of 1068/9 for the S&P. Then all hell to break loose on the downside.

 

[bonsai]

well, where do I begin ?

some of the chart has come through !
here is what I have.
Can you think of any explanation as to what happened to the top half ?

 

[bonsai]

hb, well done

looks like you have a winner
I completely missed that one.

 

[hungrybear]

Thanks Bonsai,

I'll be happy when it takes yesterdays high out to confirm my expectations. At least it's broken into what would have been wave 1 down and the trend line across yesterdays high points. Need to see more upside now to gain confidence.

 

[oatman]

I see no picture

 

[bonsai]

fell into the trap of talking the market down !!!

naughty , naughty.

but of course now, its simple.
we have had an abc from the high.

so the question now is, is the correction all over or is this the B leg of ABC. ?

I think it looks like a 'B' and structurally weak.

 

[bonsai]

lol
well done
now all we need is the scale !!

 

[bonsai]

Fer cryin out loud! You want a SCALE too.

I don't know what you are using to save that pic as a bmp chart
but it's real weird, man !

 

[bonsai]

looks like someone wants to take the stops out around 4306 ?

 

[Wideboy]

Dr I'm sorry but I don't understand what your chart above shows?

 

[bonsai]

wideboy
you have to be into market profile