Message For Ftse Traders......

[Dentalfloss]

just got a downside vertical count of 3000 ish.not activated as yet.needs a break below 4000 to viable.however,this chart is still bullish.price has bounced off the uptrend line
eod data.box size is 50 points.hlo data.3 box reversal
i will look later to see if the chart/candlestick is showing revers divergence on the daily

 

[Dentalfloss]

the candle chart is possibly showing signs of reverse divergence on the daily.if the macd turns upwards then i think this could be the start of a signal .macd has broken the uptrend line.chart is minly rangebound and their are conflicting signals
are the us markets closed on tuesday.??

 

[Dentalfloss]

just to remind veiwers how oversold this market is.notice how there is a lot of daylight between the 2 ema"s.although, price is in arange it has not fully corrected as yet
willi it correct or will it breakdown.?

 

[Dentalfloss]

the ftse 250 chart is far more well defined.it is bullish in a downternd
chart is 100 points box size.3 box reversal.hilo data.end of day
last signal was bullish.ie a double-top.the 7000 vertical count was achieved,there is a retrace.there is another count of 9000 which has not been activated.a break above 7000 would do this.also clear daylight/oversold between the ema"s.
so 7000 and 5600 areas are the ones to watch

 

[Dentalfloss]

dow is looking quite bearish against the ftse 100 and 250.it has recovered from its oversold.the ema "s are together

 

[Dentalfloss]

chart for the action on monday.all looks bearish from the xmas rally.however,the 4070-4100 zone has been retested by many columns.4 column retraces and this support area held.it also held during all the bad news from last week.so,i think this must be a strong support area.a break above 4250 and the retrace holding this level ,makes it bullish.
hourly data.20 point box size.3 reversal
in candlestick terms,it is looking like a descending triangle formation
any big news next week,bar inauguration.?

 

[Dentalfloss]

descending triangles have a high failure rate

 

[Chelski]

I'm not being 100% serious, although admittedly that isn't always obvious until they invent a font to denote it, I am just bitter and twisted because I wasted months on indicators before realising they were not compulsory and that, for me, price is enough.

At least divergence is theoretically telling you something that isn't immediately obvious from the price. Hence it is not quite such an evil

Ben

I agree, i think we all find a way to trade that suits us. I read an article about finding a setup and trading it. If i find another i will add it to my kit bag. It is one of the most powerful signals.

 

[brutusdog]

ride the pony

 

[vinicius]

Quit strong level of resistence at 4250.. What are you guys looking?

Got 30 points earlier, but I have no clue whats next.. so I`ll wait to see where the price is gonna be today..

 

[vinicius]

Argh.. It would be first 100pip profite..

Anyone short?

 

[RedGreenBen]

Argh.. I was going to make my first 100pip profite..

Anyone short?

I'm out at 4070, and I know this isn't professional, not sure I have the energy for any more!

 

[leehellcat]

Short

Hi,

Am new to this, and am testing my trading style on a demo account at the minute, but I went in short at 11:45 Sell 4205, and took 10 points profit at 11:59, then 12:03 Sell 4190 and took 12 point profit at 12:35, and then 12:43 Sell 4177 and set a limit at 4160 which gave me 17 point profit.
I set the limit as I had to go away from my desk for 20 minutes and didn't want to get caught without a profit, I can't use trailing stops in my demo account.
I guess I bottled at the 4192 support line and wasn't sure if we would get a long off of it rather than continue through.
Happy with 39 points so far, looking for a long maybe later this afternoon to take me over 50 points for the day.
I am thinking(hoping) there should be some support around 4082-4087 for a bounce later on towards 4125 (23% fib level), if I am reading it correctly.

 

[minch]

Argh.. I was going to make my first 100pip profite..

Anyone short?

Argh indeed.. I was in at 4226.1, bailed out at 4188.5, noted a double top on the hourly from yesterdays high. Left a bit on the table there, sheesh.

 

[vinicius]

I'm out at 4070, and I know this isn't professional, not sure I have the energy for any more!

You mean 4170? I got out at the same price...

 

[wakka]

Yes! Got in at 4150 and out at 4100. Reckon its gonna bounce now off 4100 support... Anyone know what caused that drop?

 

[RedGreenBen]

You mean 4170? I got out at the same price...

4070 Future, or 4069.8 for the pedantic.

Sold 4167.3 at 12:10 so no century for me either. Not that I'm complaining.

Ben

 

[RedGreenBen]

"Never try and catch a falling knife"
"dead cat bounce"

I've got more, but it's finally time for some lunch

 

[Bloodhound]

Double bottom forming from support at 4100? Target 4180.

 

[RedGreenBen]

Double bottom forming from support at 4100? Target 4180.

See above!

To be more serious, it's not - in my uninformed opinion - a bad trade so long as you enter as the second bottom forms and with a suitably tight stop.

Ben