swingin' the ftse: 2009

[tomorton]

Strong open but price collapsed into Wednesday's swing low range. Finger poised all afternoon but no long today as best pattern we managed was a weak evening doji star. With this, the Dow now showing 100+pts down and through yesterday's low, I can only see the FTSE dropping hard tomorrow am.

Mad Men tonight.

 

[tomorton]

The short from 14/04 looked on the money 15/04 but was stopped out yesterday. Such a strong day, with close on the high, I have reversed and gone long from soon after close.
Whiplash, I hear you say? What's that?

 

[Splitlink]

The short from 14/04 looked on the money 15/04 but was stopped out yesterday. Such a strong day, with close on the high, I have reversed and gone long from soon after close.
Whiplash, I hear you say? What's that?

I think that must have been me.

Not an expression I use, much, until lately.

It is, of course, whipsaw.

 

[tomorton]

Whiplash! He he he!
Hmmmm... Ooops, I think my mind must have been somewhere else........

 

[Splitlink]

Whiplash! He he he!
Hmmmm... Ooops, I think my mind must have been somewhere else........

I always had you tagged as a serious type of bloke.

 

[tomorton]

Friday's putative swing low so I have sell order in below the low 4043.

On weak US session with narrowest range for some time, and growing possibility of pullback, I have moved stop in tight to protect profits on the long and reduced my limit order to catch a piece of any early additional upside Monday before NY open.

 

[tomorton]

Protective stop worked fine. Sell order triggered for short: closing now, fed up with holding winners overnight to see them turn into losers next day.

 

[tomorton]

Looks like downleg halted yesterday pm and strong US finish. Long order set abover yesterday's high. Anyone else fancy long?

 

[HaloTrader]

Looks like downleg halted yesterday pm and strong US finish. Long order set abover yesterday's high. Anyone else fancy long?

Yeah i do, i played short of 7.30 am breakout and out for profit, now played the bounce pin-bar off 5-minute lower trendline... whether i've drawn the correct trendline i don't know but its in profit.

 

[tomorton]

My long positioned cautiously high so not triggered yet. Today's range doji-like and narrow so far, so prepared to leave buy in overnight and if we stay narrow as this will add sell below the low to catch any break-down that direction.

No suprise that there is little immediate FTSE100 reaction to a budget speech, this is just as usual.

 

[tomorton]

My long triggered and with the positive finish to the session I hope it wil be safe to keep open overnight. Wednesday was just a 2-day drop but that will do for me on this occasion as I think the bulls are hungry: I feel more confident holding a long than a short overnight given the recent trend.

 

[tomorton]

Long from 22/04 based on high 21/04 at 4020 has offered potential 135pts so far, and Friday closed well, both here and US. I feel it too late to enter long now but could be good after pullback next week, as this upleg has breached last 2 highs, starting from a higher low, confirming uptrend. Anyone still long from Wednesday?

 

[churchie]

Went long on Friday from 4070 looking to make 100 points.

 

[HaloTrader]

Went long on Friday from 4070 looking to make 100 points.

Thats called hindsight trading Churchie.... Don't call trades unless its live dude.
When you called that trade on the forum, 4070 had already reached 4170...

Not helpful

 

[tomorton]

Hi churchie - From 4070 I think you have a decent chance of the 100pts, but when we closed at 4156 you already had 86% of your target and a 2% gain in a few hours - you didn't feel you should take it and run?

 

[churchie]

Hi churchie - From 4070 I think you have a decent chance of the 100pts, but when we closed at 4156 you already had 86% of your target and a 2% gain in a few hours - you didn't feel you should take it and run?

With the Ftse closing on a day high and my entry covered I felt confident enough to stay in and see what Monday brings. Positive day in Asia so we'll see how the market opens here.

 

[churchie]

Thats called hindsight trading Churchie.... Don't call trades unless its live dude.
When you called that trade on the forum, 4070 had already reached 4170...

Not helpful

I was respondding to a shout out and am trading EOD so all my posts will be hindsight trading, please ignore anything I post regarding entry/exit if you are trading intraday.

 

[tomorton]

Just gone long - too busy in office earlier but nice pullback, hoping for strength in NY right through to the close.

 

[tomorton]

Long went 27/04 well into profit, though admit I could have entered better - either 24/04 on breach of recent highs or on 29/04 after break-out from weak day 28/04. Weak day 01/05 but I can't see this retracement continuing downwards as the US close was strong and major index uptrends look secure. 01/05 was also an NR4 (actually >4) and these often lead to a more energetic break-out. If 4210 holds on Tuesday I will try to get going long again, work things permitting: I see we are not far below the 09/02 significant swing high at 4334 which should provide another 100pts above if resistance there is broken.

 

[tomorton]

Strong rise in NY yesterday would normally be encouraging but means I am probably priced out of a good entry on this occasion - I don't wish to chase price and probably too late to enter with high probability of success right now. A straight calculation of the the FTSE closing price on Friday compared with the Dow on Friday then Monday suggested London was 110pts adrift last night, but we made most of that in the first minutes this am.

Re-evaluating during the week.