FTSE 100 - May

[bracke]

Finirama

"I'm short on the S&P"

On what basis are you short, or is this another of those feelings!

Regards

bracke

 

[Finirama]

LOL

Hi Bracke,

By the way there were technical reasons for my calling long yesterday...mainly daily price bars but also the opening gap had a strong possibility of making an island reversal and therefore a higher low ...and hence the gap up 2day...(also helped by the drop in oil prices)

As for the short....not feeling to confident about it just now and feel it maybe just a pullback (v v v close stop)...but again mainly price pattern which is similiar to the one i posted re: catching the end of major moves, i.e. with the different bar colours.

 

[bracke]

Finirama

ok, I'll believe you but just keep those feelings under control.

Is your s&p short a day trade or a monthly future?

Regards

bracke

 

[bracke]

Hell fire and damnation, I've been demoted!

One of my stars has gone, ok whose got it.

It will be best if you own up now rather than waiting until I sent the boys round.

Disregardingly

bracke

 

[Hooya]

its ok Ive upgraded you

 

[mully]

Bracke,

I have enclosed an hourly chart.

As you have noted the 4500 (round number) caused FTSE to stop on a number of occasions (Both down and up).

Also, if this move is a reaction to the move down from 4602-4363 (239 points) then be aware that Fib watchers will watching the following levels

then 38% retracement = 4554!!!!
50% retracement = 4482
62% retracement = 4510

 

[Finirama]

Bracke,

ND = Negative divergence

 

[bracke]

Hooya

Thank you for reinstating me, i'll call the boys off now

Mully

Thanks for the chart and comments

But please sir shouldn't 38% retracement be 4454 not 4554.


Finirama

Thank you for ND, will now go and find out what it is.

Regards

bracke

 

[bracke]

For those who are as green as I, see the thumbnail for explanation of divergences

Regards

bracke

 

[Hooya]

and a great currentl example was the FTSE 30 min chart

 

[mully]

bracke,

another typing error.

Must practice harder

Of course 4454.

 

[mully]

FTSE divergence trade posted (673) yesterday at 10.13 am

 

[mully]

US equity market performance was not what was required.

Looked like a bull trap. As a consequence

D4F FTSE100 is quoting 4425 or a 42 point fall on the opening.

 

[iainpw]

Here we go.....another gap opening followed by a narrow range for most of the day!!!!!

 

[Hooya]

wouldnt be too sure on that.


edit: It might be slow but watch for a possible trding day after the gap

also Morning

 

[iainpw]

Hooya,
I've only been seriously watching the FTSE for 2 days and they have been pretty narrow ranges, typical i missed the break yesterday as i nipped out.
I'll try to keep watching today!!!!

Iain

 

[Hooya]

Tues ok but the other two days not really. Yesterday was the equivalent of over 100 points on the dow. If you use sbs you could have caught some of the gap up in the morning but the main move was the afternoon..whiich was good for 20 + and a possible reversal. The problem is with the FTSE is seems alot slower but thats partly dues to the fact that there are 2 extra hours of trading compared to the US....

Looks for 1 -2 trades a day and you will be surprised what you might find.

 

[Finirama]

Morning All,

Only way to make some real money on the ftse over the last week, imo, has been to either hold a position overnight or take a position after hours...which is wot i think i'll start doing again.

 

[iainpw]

Thanks for the advice - yes i'm using sb's at the moment which are good to start with and only a 2pt spread on D4F.

 

[clin]

no-one's picked up on price/volume post (703 previous page) - anyone use such a technique?

barjon,
interesting that u mentioned abt price vol as someone mentioned this site
www.marketvolume.com with realtime vol for US mkt n i've had a look to figure out how to use it for ftse - can't determine what vol data is being used as it doesn't seem to tally with the vol i get.

i gather the important vol info is when it spikes above the mov'g average.

tried to attach yesterdays chart but it didn't work