barjon
Legendary member
- Messages
- 10,752
- Likes
- 1,863
evenin' all (or one for you early birds tomorrow)
Back on line at last. Won't bore you with candlesticks for a change, instead an interesting piece in May TAofS&C about price/volume by Tim Ord. One bit caught my eye - when price tests a previous low on an 8% or more decrease in volume and closes back above the previous low it implies a reversal. So far so good
ps: is it just me (sans broadband) or do the pages take an age to load on the revamped site?
Good trading.
Back on line at last. Won't bore you with candlesticks for a change, instead an interesting piece in May TAofS&C about price/volume by Tim Ord. One bit caught my eye - when price tests a previous low on an 8% or more decrease in volume and closes back above the previous low it implies a reversal. So far so good
ps: is it just me (sans broadband) or do the pages take an age to load on the revamped site?
Good trading.
Attachments
Not a great trending day.
Yes, markets had rallied from the lows first thing Monday , implying all to go for on Tuesday
and yes, Crude oil prices were easing back (June Crude Oil fell $1.01)
However, to-day appeared to lack any real conviction, (unfortunately replicated by the US equity markets as well to-night.) D4F FTSE 100 quote is 10 points below London's close.
The heavy weight oils put a brake on the FTSE 100 performance.
The less distorted FTSE250 rose over 1%.
In terms of the charts:
the supporting breakline is still positive :arrowu:
the 1 day SMA held the FTSE100 all day and is rising :arrowu:
However, there appears some resistance at 4422, which held the FTSE100 twice. :arrowd:
In conclusion, the chart still paint a positive picture, even if there appears no conviction to this move.
A break above 4422 would be positive,
but the D4F quote suggests an early test of the rising SMA and even the breakline..
Yes, markets had rallied from the lows first thing Monday , implying all to go for on Tuesday
and yes, Crude oil prices were easing back (June Crude Oil fell $1.01)
However, to-day appeared to lack any real conviction, (unfortunately replicated by the US equity markets as well to-night.) D4F FTSE 100 quote is 10 points below London's close.
The heavy weight oils put a brake on the FTSE 100 performance.
The less distorted FTSE250 rose over 1%.
In terms of the charts:
the supporting breakline is still positive :arrowu:
the 1 day SMA held the FTSE100 all day and is rising :arrowu:
However, there appears some resistance at 4422, which held the FTSE100 twice. :arrowd:
In conclusion, the chart still paint a positive picture, even if there appears no conviction to this move.
A break above 4422 would be positive,
but the D4F quote suggests an early test of the rising SMA and even the breakline..
Attachments
Last edited:
I would suggest noting it for the future as that is a pretty common shape of a flag pattern over a few days on the FTSE and this time was worth 40 points and a possible shorting opportunity. Obviously in quicker times i.e intraday you will see more a pole flag pole shape but in loner time frames all the moves in the pattern are exaggerated. but will agree to disagree.
stevecartwright
Member
- Messages
- 51
- Likes
- 1
Thank you to everyone who responded, some directly. My initial reaction after my call to my broker was that these were not the ordinary options e.g. some new instrument. that I was used to seeing on LIFFE. This has given me yet a new slant on options trading which I had not considered in 10 years of casual trading, not being exercised. I missed out yesterday but at least I didn't dive in without understanding my risk position. I would also like to say how refreshing it is that there are guys & gals out there who are prepared to spend time and effort to help others like me.
