No. Don't believe in significance of derived prices, only real price action, so I'm still in cash - but certainly waiting for a shorting opportunity - today was up and gave two buy signals - key reversal and whiplash - but fourth session since the swing low and with weakening volume, I'm waiting for this to roll over.
No. Don't believe in significance of derived prices, only real price action, so I'm still in cash - but certainly waiting for a shorting opportunity - today was up and gave two buy signals - key reversal and whiplash - but fourth session since the swing low and with weakening volume, I'm waiting for this to roll over.
Could I just ask how you managed to calculate the weekly pivot to be 5214? I worked out the OHLC to be 5126, 5184, 4986, 5164 but no matter what pivot formula I use, my figures dont match up to yours. Any advice as to where Im going wrong? Thanks
My mistake, its the weekly R1 level not the PP. Weekly PP is 5074.5. So what I should have said is 'anyone short from the weekly R1 at 5214'.
Thanks pboyles
Hi All,
My first post here. Good posts so far from what i have read. Anyone using specific technical analysis to trade the FTSE (i.e. pivots, RSI, candle-stick charts, etc...)? What time-frames are you generally using to enter / exit trades? I've been using my demo account on using time frames of 15 mins but entering trades on short time frames such as 5mins or 1min charts.
