FTSE 100 Intraday Trading - October

[jonnyy40]

Thanks.

 

[Pete Hannan]

The Renko chart signalled long at 4348, and we seem to be consolidating above the 1hr ema. I've taken 4350.

 

[lockstock]

Hi Chaps,

I took 4,343- consolidation & GC on 1 min chart, also sym. triangle on 10 min bar chart- resolved to the upside.

 

[jonnyy40]

Getting near that time.

 

[Lambchops]

Mully - Thanks for the info. Have you been studying 'Market Profile' for long?

 

[Pete Hannan]

After watching the US futures struggling to make gains all morning following one good earnings announcement after another, my read is that there will some profit taking in the US today. The FTSE has fallen in line with the futures, and I am now short again. I caught it just before we powered through the 1day ema.

 

[mully]

Morning all,

Interesting start. Opening outside value but within yesterday's range. Market sentiment has probably not changed from yesterday. So expect a NORMAL, NEUTRAL day (ie non trend). Now just have wait until market establishes its extremes and value area and then look to trade the value area extemes

 

[Lambchops]

There was an up barrier at 4352 ish during lunchtime yesterday. Wonder if that will provide support.

 

[Wideboy]

Am I right in thinking that the VA is the area in which 70% of yesterdays trades occured?

 

[Wideboy]

Morning reversal time, maybe time for a gap close

 

[mully]

Wideboy,
Absolutely

 

[Wideboy]

Is there anywhere online that gives the VA for the FTSE and Dow?

 

[mully]

Well, well, well

I think we can blame the SP futures (trading at 1050+) for the bullish breakout in the FTSE100

Bonsai's chart is on page 13 of this thread.

 

[mully]

My expectation of a non-trend day hasn't materialised though 6 points above yesterday's range probably doesn't justify a trend day yet
Interestingly, since the market turned on the 1st October, the trend has remained rock solid. Higher highs and higher lows

Highs: 4209, 4286, 4315, 4327, 4375, 4387
Lows: 4177, 4242, 4259, 4291, 4324

So until we have a lower low , it is a case of going with it despite any concerns about lack of convincing volume support (especially to the SP500 advance etc..)

Trade what you see, not what you expect to see or been told will happen.

 

[hungrybear]

I have to admit that I'm not long the market, so am now waiting for a midday low pullback to enter. My target high date of Thursday/Friday (Friday is my prefered date) is looking good though.

 

[mully]

Whew!

Thought I was all on my own. Thanks for a reply hungrybear.
I have noticed that over 100 people have viewed the thread this morning without posting!!!!

 

[hungrybear]

LOL - I've been decorating this morning (will be for a few weeks). I was expecting to go long but after the big gap up I decided to leave trading this morning unless there was a big enough pull-back to give me an entry long signal, but there wasn't.

I'm just keeping an eye on things - catch up later.

 

[lockstock]

!00 people viewed & no contribution.

2 people asked the same question & no reply.

Is there anywhere online that gives the VA for the FTSE and Dow? :?:



Come on guys- someone must know the answer.

 

[Lambchops]

Doc Lecter would probably know but he`s vanished!

 

[mully]

I have out shopping for the wife (who wears the trousers)

I am not aware of anyone in the UK publicly.

Daulton of Mind over Market's fame supposedly does a daily call on SP500, Dow and NASDAQ but you have to subscibe.