FTSE 100 - March

bonsai

Veteren member
4,106 11
February is always a miserable month, I think and glad to be rid of it.

No progress on FTSE but no sell off either.

Starting with the channel chart again as it seems to be back in play although the channel lines are no longer picking off support and resistance.

The resistance to the left of the chart seems to be the problem from a chart point of view.

But the fib at 4357 held up well and makes the 4400 area look full of support.

Momentum is obviously weakening and it may take a new high on the Dow to help push us up and through.
 

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bonsai

Veteren member
4,106 11
here is my chart as of friday with a possible wave count.

I suspect we have seen the B wave that finerama alluded to although I wouldn't like to guess how deep the C wave might be in view of strong support at 4357,4400 and 4478.

But as we only just scraped to a new high on friday if C=A then expect some reaction around 4480

One other possibility you should consider is that we have only just completed 5 waves from 4357 on friday. In which case, we have only now started the correction and what we saw on friday may be the A wave in action.

March, they say, comes in like a lion !!!
 

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Last edited:

Hooya

Experienced member
1,802 2
elaborate please?
 

Hooya

Experienced member
1,802 2
"the Kase Permission Stochastic computes a synthetic higher time frame stochastic, which is based on a moving higher time frame window that ends with each bar. "
 

Hooya

Experienced member
1,802 2
where did you get it from??/ What I found on a search was that it just looks like a slow..slow stochastic.
 

goostrey

Junior member
42 0
Bonsai

do you find the metastock experts any good
 

bonsai

Veteren member
4,106 11
goostrey
to be honest, I don't use them or it.
but after Hooya started posting squares and things it reminded me that I had a copy gathering dust on the shelf.
so I just loaded it it for fun.

It is end of day of course so has little relevance today trading.
 

Hooya

Experienced member
1,802 2
ahh metastock...was that what you used to use to trade before you wrote your own program?
 

bonsai

Veteren member
4,106 11
no

over the years I have bought a variety of software packages but not found anything with any real added value.

Millions of indicators which you don't need. (or don't understand)

But you have to take a look,don't you.?
 
 
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