FTSE100 - January 2005

Differing views that 's what makes this thread so useful. It may go up by a few 20-30 points in the short term, but I think it is heading down south towards 4732.
 
barjon said:
mmm, fwiw my fingers poised on the buy button and watching to see if the infamous 10am reversal on the dow takes effect.

Dow gap down followed by further fall to 10500ish on high volume. Volume easing price rising, starting to look promising

EDIT Added s&P500 chart

Regards

bracke
 

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barjon said:
well at least something's gone right today

Do I take it that you bought and then closed a ftse trade mon petit candle?

Regards

bracke
 
the wick's still burning, getting ready to snuff some it out soon
 
barjon said:
the wick's still burning, getting ready to snuff some it out soon

Whilst wanting to avoid premature exiting, the dow erection to its current level was fast, one is inclined to think that it may have difficulty in maintaining the position and thus titilation of ftse may come to an end before opening tomorrow.

Regards

bracke
 
barjon said:
too late mon brave - gone now


I trust you made a few points to offset the earlier disappointments

It will be interesting to see what the US does until close and ftse on opening tomorrow.

Regards

bracke
 
bracke

Just a few (15) which doesn't do a lot to offset the recent scorings of red ink in my ledger. Still, given my recent performance it's as welcome as an oasis in the desert to parched traveller.

You never know, might have a gap in the morning for you to wax lyrical about. :LOL:

btw the bottom today couldn't have come at around the mid-point of the last long white could it ;)

good trading

jon
 
barjon said:
bracke

Just a few (15) which doesn't do a lot to offset the recent scorings of red ink in my ledger. Still, given my recent performance it's as welcome as an oasis in the desert to parched traveller.

You never know, might have a gap in the morning for you to wax lyrical about. :LOL:

btw the bottom today couldn't have come at around the mid-point of the last long white could it ;)

good trading

jon

I will reserve any wax for your candles.

It might well have done - I show another chart in order to add balance to the discussion.

As a matter of interest did you apply the mid candle theory to determine your entry to the ftse today?

Regards

bracke
 

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bracke said:
As a matter of interest did you apply the mid candle theory to determine your entry to the ftse today?

Regards

bracke

Not as such, but it certainly strengthened the thought that a base was forming.

jon
 
barjon

Not wishing to rub salt into the wound but did you use the candle theory on the losing trades that you mentioned on the thread 'a shoulder to cry on'. If yes what went wrong, if no , why not.

Regards

bracke
 
bracke

golfing today so just catching up and almost forgotten yesterday until you so rudely reminded me :LOL:

No, the tears came from my main swing trading. Don't use candles for entry (although might occasionally increase position size a bit) but do use them to help inform exits.

good trading

jon
 
barjon said:
bracke

golfing today so just catching up and almost forgotten yesterday until you so rudely reminded me :LOL:

No, the tears came from my main swing trading. Don't use candles for entry (although might occasionally increase position size a bit) but do use them to help inform exits.

good trading

jon

Apologies for resurrecting that, that you prefer to forget.

I am going to push my luck a little further and ask if you would be prepared to post charts of one or two of the trades that you most thought were winners but were not. Ideally showing your entry, target and exit and the reson why you took the trades

The object would be to learn from your mistakes ( much cheaper for the rest of us ) and trying not to use hindsight, comment on your trades.

I promise not to make sarcastic or cynical comments.

I fully understand if the memory is too painful and you do not wish to discuss them

Regards

bracke
 
gullible said:
Dow took a tumble today, FTSE below 4800 after hours, what next?

The trend changed on 3rd January 2005 with all that energy sector selling!

Huge sell day for the dow was 17dec04, nasdaq needs only 4/5 higher volume sell days to change the trend !

Look out below :)
 
knucklehead said:
The trend changed on 3rd January 2005 with all that energy sector selling!

Huge sell day for the dow was 17dec04, nasdaq needs only 4/5 higher volume sell days to change the trend !

Look out below :)
K|nucklehead

Thankyou, how did you detemine the trend change on 3rd Jan? I thought as much, but since 3rd Jan FTSE touched 4850 and stayed above 4810 level for much of the time. I than changed my view -prior to this 'strenght' I fely FTSE would go down to 4732 for a breather before resuming downward trend. Don't ask me why as I do not have a clue
 
gullible said:
K|nucklehead

Thankyou, how did you detemine the trend change on 3rd Jan? I thought as much, but since 3rd Jan FTSE touched 4850 and stayed above 4810 level for much of the time. I than changed my view -prior to this 'strenght' I fely FTSE would go down to 4732 for a breather before resuming downward trend. Don't ask me why as I do not have a clue

I followed the method of Mr William O'Neil, trend change on 4th distribution day which occurred the day after on the 4th, just as that nice Mr O'Neil said. Obviously I'm looking to see if the next high is lower than the previous one which would confirm a trend change.

The Ftse refused to turn at that time, prefering to follow european stocks. If ftse fails to find support at 4800 then it will go back to 4700.
 
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