FTSE 100 - May

[mully]

That overhead resistance is still working.

My last post referred to 4425 level (that was the D4F number).
The cash equivalent was around 4428.

 

[RogerM]

Intelligent? Me? rofl.

It's true tho' that options are 3 dimensional (direction, volatility and time) - all of which affect price, rather than one dimensional as is the case with futures.

 

[bonsai]

broken cloud, rising barometer and ripple on the water

I'm out of here

(storms due later)

 

[Hooya]

 

[mully]

Here we go again at trying to break above resistance

 

[Hooya]

not doing anything until US open now...£ dropped 200pts today...Symetrical pattern palying out really nice,y. If ture we should drop down into 2:50ish time frame but nothing is ever that straight forward in the world of hooya trading :-0

looks like the pattern is ahead of me.

 

[ric-a]

I'm tempted to go long. (US??)

 

[mully]

Looks like its going to fill the gap created at yesterday's open: back up to 4562?

 

[ric-a]

I hope your right mully. Gone long with tight stop.

 

[Hooya]

"I'm tempted to go long. " not they best way to trade.....one thing Ive learnt is to be tempted is not enough you have to be confident that the probability is on your side, if you are not you will eitehr gte stopped out for a loss just before it turns or you will close too early. all imo ofcourse

Mully, think the gap up to 4498 will be on the cards in the next two sessions

 

[mully]

Here is bigcharts version of Bonsai's dot chart.

It clearly shows the gap above.

It also shows a gap, first thing this morning, that wasn't filled.

 

[Hooya]

reckon we go for the upside ones this week close the downside ones early next week. but that would just a guess. at the moment we are on the up and expect the US to follow suit

what I find mully is the gap will be defended to the first point in the session containing the gap where the first attempt at a reversal failed. If that is breached it will get filled up to the openign gap. often the breach happens just before UK close and completes in a gap up the next day.

 

[Hooya]

in to the red zone we go

 

[RogerM]

Not a lot of momentum in the dow at the moment

 

[mully]

Not only is 1 day SMA :arrowu:

But red breakline has been breached :arrowu:

 

[ric-a]

4450 is that it for today?

 

[Hooya]

they defended the gap ...grrrr...that could be it intraday now....who knows. would like to buy the dow below 10k

 

[bracke]

bonsai

Thank you for the smoothed rsi explanation. Was yor earlier post relating to cloud, barometer and water piscatorial or financial?

mully

4425 - how can the index be contolled to give such a level?

why is filling the gap important?

Regards

bracke

 

[Hooya]

"why is filling the gap important?" missed trades=missed volume (potentially) so prices get manipulated so the MMs can get as much volume as possible. But also stops are likely to be placed in the gap and thus get when they get triggered it creats a knock on effect until its back at the break out level.

 

[mully]

Bracke,

The other half has left me in charge of our little gang, so in middle of school run/gym run/ playing with friends etc.

Anyway, Hooya answered re gaps

Off again, another pick-up beckoning...