FTSE100 TA Analysis - 31 Oct 2011

jackypw

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FTSE 100 - Please see attachment for the correct format

For discussion purpose!!!!

TA Analysis
Dow Trend Monthly Primary Bull Market since Mar 2009
Weekly Formation Tranangle = between 4800 to 6100 since July 2010
Daily Elloit Wave 4th Correction towards 5400 level

Subsectors Confirmation
Mining Y Intermediate Bear Market; Held within LT downward channel - Strong Bearish
Banking Y Intermediate Bear Market; Still above ST uptrend - Bearish

Momentum Indicators
RSI Y RSI hit reversal level and crossed below the trend line

Intermarket Analysis
EUR/USD Y Downward Swing towards 1.32 = Strong USD

Risk Management
ATR 200MA 96


Strategy
Direction On Short Side
Duration Until 21/Nov-7Dec
Upside SL 5763
2:1 Entry Point 5643 117 SL points
3:1 Entry Point 5673 88 SL points

***Notes
Unless states, all based on daily chart TA analysis
Risk Ratio is based on account of £10000 with risk of around 1% per trade
 

Attachments

  • 31 Oct 2011.pdf
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Last edited:
Cheers for that. Not sure how you want to enter @5643 if the market is around 5400.
Strong downward move was obvious on Friday afternoon (28/10) already because of double top Thu/Fri.
Anyway, looking forward to more analysis, including targets as well, not just stop loss.
Good luck with your trading !!!
 
Thank you OG76, my target was 5400

Added in the updated report

Welcome further comments:)
 

Attachments

  • 01 Nov 2011.pdf
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Just Quick Notes Guys, This thread is for discussion purpose only!!!

Please do not trade on the suggestion
 
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