Jock Strap
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In fact you could say "a bear with a sore head" ?
In fact you could say "a bear with a sore head" ?
Bloodhound
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wallstreet1928
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well done my friends.....that is a good result !!
Bloodhound
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You should be looking at a 2H chart!!!! ;-)
wallstreet1928
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now that is 2 days in a row.................my analysis is correct but my entry is poor!!
Arrrr.......
back to the drawing board......
Geofract
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tennisball
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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
wallstreet1928
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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
tennisball
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too late - target hit! Oh well . What is this bank stress test?
Bloodhound
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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'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??
wallstreet1928
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Jock Strap
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Make that 64 points up - shorted at 3885. Shouldn't really do that drinking red wine but hey, 30 points! :clap:
wallstreet1928
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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
tennisball
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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
Jock Strap
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Jock Strap
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Ay up, FTSE's on the move again :-0
Jock Strap
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Could be another shorting opportunity soon, but I'm going to let the market come to me or no trade..lessons learnt...!
tennisball
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On the move - but where's it going? I can't see an obvious direction. I'll wait this one out until it's made it's mind up.
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