FTSE100 - January 2005

bracke

Experienced member
1,286 12
Fellow Posters & Viewers

Thought I better open up the new thread whilst the rest of you are still in stupor mode.

I would like to take this opportunity to wish our myriad readers a successful trading year but knowing fullwell that some must lose in order that others may win. I asked Santa if I could be on the winning side this year and he said yes, so please bear that in mind.

The FTSE opened 2004 at 4477 and closed at 4814 - a rise of 337 = 7.53%.

Forecast for 2005. Not a clue.

Regards & A Happy New Year

bracke
 

barjon

Legendary member
10,705 1,809
Happy New Year everyone. May your plans prosper, your rules reward and your accounts accumulate.

2005? Well, the monthly still looks bullish, albeit second phase trend, with fib 50% hoving into view.

The weekly looks fairly strong too, the mid point of the last long white held as support although the previous didn't and had to rely on support at it's base (which should be the stronger). Will mid point or base hold for the latest one? The last three candles give something of a stalled pattern which may give a bit of down to test those supports next week.

The daily finished a bit indecisive/weak after the boys had persuaded santa to rally up their bonuses. No volume, of course, so we await the next session with bated breath.

good trading all - stick to your New Year resolutions

jon
 

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karmit

Well-known member
490 5
To me it looks like the indices will start going really down from early to mid Jan.
Don't ask me how I know that!... and yes I'm new to this :)
 

bracke

Experienced member
1,286 12
karmit said:
To me it looks like the indices will start going really down from early to mid Jan.
Don't ask me how I know that!... and yes I'm new to this :)

Karmit

Not wishing to be nasty ( I have to say that as I am sometimes misconstrued - I am getting treatment ) but if you are trading or intending to trade on the basis of the above quote you are heading for trouble.

You may be correct but if you trade purely on the basis of 'feel' or 'looks' without some logic you will come unstuck.

If you have not already done so I suggest you look at the threads for those new to trading.

Good fortune and welcome to the thread.

Regards

bracke
 

karmit

Well-known member
490 5
heck no! Bracke! - I value good advice :)
Do you have in mind some basic s/w service which every rookie should use?
I normally check yahoo finance... but I'm looking for something better... better real-time charts / analysis
etc. If it requires a small (I mean small!) subscription fee - might consider it as well.
cheers,
karmit
 

bracke

Experienced member
1,286 12
karmit said:
heck no! Bracke! - I value good advice :)
Do you have in mind some basic s/w service which every rookie should use?
I normally check yahoo finance... but I'm looking for something better... better real-time charts / analysis
etc. If it requires a small (I mean small!) subscription fee - might consider it as well.
cheers,
karmit

Not a software site but the need to accumulate knowledge. Suggest that you look at the First Steps thread and the new knowledge lab on this site.

The free charts on www.advfn.co.uk are useful.

Suggest that you get a basic understanding of trading before you subscribe for charts or analysis.

Don't be in too much of a hurry to start trading for real. Start acquiring the knowledge and decide on the type of trading that interest/suits you.

Trade in haste, repent at leisure.

Regards

bracke
 

karmit

Well-known member
490 5
hmm.. the DOW sure seems to be going down... maybe till the Friday report comes, this would be the
trend?
 

bracke

Experienced member
1,286 12
karmit said:
hmm.. the DOW sure seems to be going down... maybe till the Friday report comes, this would be the
trend?

There was a good opportunity to go short after the opening gap and subsequent rise. This comment based on probability of gap closure plus fast rise is usually followed by fast fall. I do not follow the dow very closely but would also be looking at price in relation to resistance level.

As to trend that depends on the timeframe you are looking at.

Regards

bracke
 

jonpo

Junior member
22 0
happy new year all :)

just noticed from todays trading and all that the graph above seems to point very heavily to a double top at the 42824 mark between now and nov 15th 04.
 

barjon

Legendary member
10,705 1,809
evenin' all

Not a pretty sight for the bulls. If you blend the last two candles you get a bearish shooting star type candle with an upper shadow twice as long as the real body. Will the first support ditch (yellow area) hold - if not that'll be strike two for the bears.

Still the action's given me five potential long entries if they surprise by moving north tomorrow.

good trading

jon
 

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gullible

Active member
159 0
Has the interest in this thread receded a bit? Can not make out FTSE broke 4850, broke 4800 (oodwnards) went up above 4800 and back down velow 4800. Not an expert (still learning) but I think FTSE may be heading towards 4730 levels.
Any views?
 

bracke

Experienced member
1,286 12
gullible said:
Has the interest in this thread receded a bit? Can not make out FTSE broke 4850, broke 4800 (oodwnards) went up above 4800 and back down velow 4800. Not an expert (still learning) but I think FTSE may be heading towards 4730 levels.
Any views?

Unfortunately I think it has. We lost a number of our main contributors during the course of last year.

I cannot comment on your thought that ftse may be heading to 4730. It seems to me that the weighted nature of the ftse100 makes it a difficult indices to trade but I have no doubt that others would disagree.

Perhaps we might get a few comments, opinions and views on your thought.

Regards

bracke
 

barjon

Legendary member
10,705 1,809
Hi guys

Despite gullible's prompt things have been dead as a dodo on the thread. No-one trading ftse anymore? Just no interest? Beary boys retired hurt? Or what?

Anyway, how did the week pan out. The retreat was held by a resistance becomes support line; fib50% of the 9/12 to 7/1 up move; the mid-point of the last long weekly candle; any reason that takes your fancy; or no good reason whatsoever. :LOL:

Thurday's harami gave a better than evens chance of an up move on Friday and that came on the highest volume of the week, albeit not markedly high. Can't see much to encourage the downside at the moment, but you never know. I'm still favouring longs 'til I see something to persuade me otherwise.

Good trading all.

jon
 

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bracke

Experienced member
1,286 12
barjon said:
Hi guys

Despite gullible's prompt things have been dead as a dodo on the thread. No-one trading ftse anymore? Just no interest? Beary boys retired hurt? Or what?

Anyway, how did the week pan out. The retreat was held by a resistance becomes support line; fib50% of the 9/12 to 7/1 up move; the mid-point of the last long weekly candle; any reason that takes your fancy; or no good reason whatsoever. :LOL:

Thurday's harami gave a better than evens chance of an up move on Friday and that came on the highest volume of the week, albeit not markedly high. Can't see much to encourage the downside at the moment, but you never know. I'm still favouring longs 'til I see something to persuade me otherwise.

Good trading all.

jon

On your 1 day chart you show a number of lines with readings, would you mind informing us what they are?

And for those not aware of mid-candle s/r, a mention of your not to be missed thread might be worth a mention.

Regards

bracke
 

gullible

Active member
159 0
Thank you all. FTSE appears to going up now? do not know why I am saying this but having fallen to 4770 after hours on Thrusday, it went abck up to 4828 yesterday. These levels are from CFD prices at D4free
 
 
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