Message For Ftse Traders......

[wallstreet1928]

Morning guys, just took 35 points profit, and that is my current daily average and now I am offski!

Speak next week! Have a good one.

take care my friend and well done

 

[vchohan]

Anyone have an analysis on when the price touches the 200MA?
Any Major support and resistence?

 

[wallstreet1928]

morning guys....

I've been up since 6am watching India V New Zealand 20/20 cricket match
then 8am Australia V South Africa Test match
then 14.00 England V West Indies Test Match

I love watching cricket

 

[wallstreet1928]

Anyone have an analysis on when the price touches the 200MA?
Any Major support and resistence?

it can be use as resistance or support depending on which way you are trading

It must be accompanied and supported with other analysis ..... i.e. trend lines and S&R lines!!

 

[wallstreet1928]

Anyone have an analysis on when the price touches the 200MA?
Any Major support and resistence?

If you bring up a 1hr 1week chart you will see that the 200 EMA coincides with the resistance level around 3935/3940.......now that would be a nice opportunity to short in my book providing we get a 2 bar confirmation on a 2day/1 week 10 min chart....as it would be a triple top or could break through it as well but the probability of it falling back is higher due to multiple levels of resistance!!

we must always play high probability trades in our favour

 

[S_D]

Wallstreet, what exactly do you mean by a 2 bar confirmation on such a chart?

 

[wallstreet1928]

my analysis for today for what ever its worth

Support 3820..........daily support
s1 support 3780!!

market will go up and hit 50 EMA 3870(coincides with pivot )..........

then we will see a pull back and I will be shorting around that level!!

 

[vchohan]

If you bring up a 1hr 1week chart you will see that the 200 EMA coincides with the resistance level around 3935/3940.......now that would be a nice opportunity to short in my book providing we get a 2 bar confirmation on a 2day/1 week 10 min chart....as it would be a triple top or could break through it as well but the probability of it falling back is higher due to multiple levels of resistance!!

we must always play high probability trades in our favour

I have to admit that a lot of things were in favour for us on that analysis. I think it's a brilliant analysis WS. Sometimes I think why didn't I see that it's so obvious but then again we're all learning here. Fantastic opportunity that was to short or to go long depending on whether a break occured or not.

Would you have used the hourly for your entry or the ten minute?

Viks

 

[fast trader7]

nice gap down on RIo Tinto RennieAMR

closed @ 1818!!

Wallstreet,
Good Morning,
What made you to sell Rio yesterday? downgrade from Goldman or ...?

 

[wallstreet1928]

Wallstreet, what exactly do you mean by a 2 bar confirmation on such a chart?

candlesticks my friend

sometimes you can have a fake break out/down .........we must wait for second candle stick to confirm trend!!

I have to confess sometimes I get impatient/lazy and I just use the one, like last night!!

I shorted FTSE 3855 last night with stop loss 3885, the market then rallied and tried to recapture above support 3870(it went all the way to 3880), and then failed and fell back down again to 3815!!

 

[Splitlink]

Good morning,

0820 Sold 3847.8

 

[wallstreet1928]

Wallstreet,
Good Morning,
What made you to sell Rio yesterday? downgrade from Goldman or ...?

news..................who cares
downgrades/ upgrades = broker manipulation in order to square there own positions.
e.g. I am a broker i have gone long RIO 1900.....the shares fall to 1850 and i'm in trouble!!
solution= I get my friend in another brokerage to add a BUY rating on RIO, the silly investors buy into RIO and push it to 1950.....
I then bail out and have made a nice 50p profit just before the stock resumes it down trend and hits 1800.......


I trade on charts not news my friend...........its good to keep news such as annual results in the back of your mind to watch out for any gaps!!

 

[wallstreet1928]

I have to admit that a lot of things were in favour for us on that analysis. I think it's a brilliant analysis WS. Sometimes I think why didn't I see that it's so obvious but then again we're all learning here. Fantastic opportunity that was to short or to go long depending on whether a break occured or not.

Would you have used the hourly for your entry or the ten minute?

Viks

1 hour = trend / direction
10 min = entry /exit

the more frequently we hit a support or resistance level the weaker it becomes guys so don't always take it for granted

 

[oiltanker]

Good morning,

0820 Sold 3847.8

shorting morning strength?

i still only have permission to look for longs on retraces but it wouldn't take much for the pattern to flip and give permission to go short.

 

[oiltanker]

pattern just flipped. as long as 3857 holds i have permission to look for shorts on retraces.

 

[Bloodhound]

Good morning all

 

[vchohan]

Morning Rob
Any positions today?

 

[Splitlink]

shorting morning strength?

i still only have permission to look for longs on retraces but it wouldn't take much for the pattern to flip and give permission to go short.

I got a signal very early, there. In addition there is a possibility that the opening bar gave the high for the day. If it is, then my RR is low.

Split

 

[vchohan]

In for a long in the next 4 mins I think. Looking at a bounce off a trendline.

Viks

 

[Bloodhound]

Morning Rob
Any positions today?

Morning Viks, nothing yet I'm afraid. We've got numbers coming out at 10am and I doubt other frame players will be in before then. With nay luck we'll see some direction then. At present I am doing as Mr. Dante advises as hiding in the undergrowth waiting for my prey to come to me!! Also getting myself packed for a trip up to Chester this evenign for Sir. William's course which is tomorrow