Message For Ftse Traders......

There we are, it popped! Mind you, only 10 points... that's the trouble with 3 min charts... small moves look massive
 
I'm pretty bullish for today guys especially after Bernankes utopian speech , I would keep very tights stops on any shorts today........

i will certainly be shorting like hell after the market has got over the excitement of bernankes speech!!

long barclays 104 ...stop loss 100.........target 110!!

my S&P long still exists and i have added to it t 769......stop loss 760!!

my DOw long still exists 7300...stop loss break even!!

now that is 2 days in a row.................my analysis is correct but my entry is poor!!

Arrrr.......

back to the drawing board......
 
anyone got any idea what just caused that rally - Being a chicken In using the s&p as a cheap way of trading ftse and I'm now short 770 tight stop of 3.5 ticks and a lunatic target of 763
 
anyone got any idea what just caused that rally - Being a chicken In using the s&p as a cheap way of trading ftse and I'm now short 770 tight stop of 3.5 ticks and a lunatic target of 763

keep stop of stop of 785.........and i promise you(pinch of salt) it will not get triggered because I am selling as we speak........

keep selling all the way up to 775 and you will make a lot of money!!

reason = stress test on banks
 
keep stop of stop of 785.........and i promise you(pinch of salt) it will not get triggered because I am selling as we speak........

keep selling all the way up to 775 and you will make a lot of money!!

reason = stress test on banks

too late - target hit! Oh well . What is this bank stress test?
 
Not a clue why we rallied like but was a nice inside bar breakout. Tennisball I hope you saw it... We've bounced straight off the fib level at 3888 - again.

I'm not going to start forecasting but I wonder whether we are seeing a genuine reversal of direction. I think we'll need to see a new higher high of around 3935 - Wallstreet would you agree??
 
keep stop of stop of 785.........and i promise you(pinch of salt) it will not get triggered because I am selling as we speak........

keep selling all the way up to 775 and you will make a lot of money!!

reason = stress test on banks

nice profit there

made my loss back from S&P earlier .........
 
Make that 64 points up - shorted at 3885. Shouldn't really do that drinking red wine but hey, 30 points! :clap:
 
Not a clue why we rallied like but was a nice inside bar breakout. Tennisball I hope you saw it... We've bounced straight off the fib level at 3888 - again.

I'm not going to start forecasting but I wonder whether we are seeing a genuine reversal of direction. I think we'll need to see a new higher high of around 3935 - Wallstreet would you agree??

Yes i agree, my downward sloping trendline is touching 3890 and Fib retracement 61.8% = 3885/3890 as I mentioned in my post in the morning!! so fierce resistance and with todays action that is being reinforced......

having said that.......the more times we hit that level the more weaker it will become so be careful guys!! we have hit it 3 times this week alone!!

I was discussing chart patterns with a T2W member the other day because It was something I learnt from Inthemoneystocks, he stated that we no longer see the market pull away from resistance or support lines like we did in the past. There has been a shoft in the mindset/psychology of the investor so we pierce the trend line and then we pull back..............

i will try my very best tonight with the help of my brother to post a chart tonight to show you!! no promises though
 
Not a clue why we rallied like but was a nice inside bar breakout. Tennisball I hope you saw it... We've bounced straight off the fib level at 3888 - again.

I'm not going to start forecasting but I wonder whether we are seeing a genuine reversal of direction. I think we'll need to see a new higher high of around 3935 - Wallstreet would you agree??

I saw the bounce from a trendline of the highs going back to the 15th. That was my reason to sell the 770 s&p. As to the rally - who knows? seemed completely random to me, must be a news item or something as all indices jumped.

An "inside bar breakout" I'll look into that - sounds like the sort of thing in James16
 
Yes i agree, my downward sloping trendline is touching 3890 and Fib retracement 61.8% = 3885/3890 as I mentioned in my post in the morning!! so fierce resistance and with todays action that is being reinforced......

having said that.......the more times we hit that level the more weaker it will become so be careful guys!! we have hit it 3 times this week alone!!

I was discussing chart patterns with a T2W member the other day because It was something I learnt from Inthemoneystocks, he stated that we no longer see the market pull away from resistance or support lines like we did in the past. There has been a shoft in the mindset/psychology of the investor so we pierce the trend line and then we pull back..............

i will try my very best tonight with the help of my brother to post a chart tonight to show you!! no promises though

That figure has certainly helped me out, but point taken about the weakening (y)
 
Could be another shorting opportunity soon, but I'm going to let the market come to me or no trade..lessons learnt...!
 
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