Wallstreet1928 Analysis & live calls on FTSE,DAX,S&P...aimed to help New traders

[lapalabra]

1st target on the downside just about to be hit or can we form double bottom @ 4570?

We buy double bottoms don't we?

(yes, my afro needs cutting I said I was going but waiting for dhl to deliver a package, in case anyone is wondering 🙄)

 

[lapalabra]

I wouldn't usually but in this instance as I've redeemed most of my account (not wanting to give up recent gains) I'm working with a small capital base. Therefore I want to make sure any stops I have in place are sufficient.

In this instance I would have bagged more profits as FTSE has moved lower by a further 15 or so points but my discipline really sucks and thats what I'm trying to teach myself.

🙂

Ah ok - I got the same level entry as you and it suited me just fine, but if its discipline you're practicing to your rules, I know that exercise all too well!

(break open the champagne on redeeming your account, thats a way off for me yet)

 

[london_lad]

Manya, I exited at just 2 points. Had to go to a 2 hr meeting, and didnt wanna come back to see I was stopped out after reaching 13 to 15 points (but without reaching my limit of 30).

 

[london_lad]

Btw, I use IG as well, and i normally just trade on the spot, I dont trust pre-orders.

 

[london_lad]

Oh btw, I am now a Senior Member? 😛

 

[Manya1983]

Waiting for the US Home Sales data to arrive. I guess that would be the markets biggest mover today.

🙂

 

[SuddenDeath]

RSI/5 gave nice buy signal at 14.50 4578.75

 

[Manya1983]

US home sales beat analyst forecasts.

Long FTSE @ 4983. SL 20.

🙂

 

[Manya1983]

LOL. Stopped out within a matter of minutes. Not sure what happened here but obviously there must be some over-riding event.

🙂

 

[kaisen]

LOL. Stopped out within a matter of minutes. Not sure what happened here but obviously there must be some over-riding event.

🙂

Likely the good news was factored into the price already - plus the saying suggests you sell on the news?

 

[Manya1983]

Maybe but with all the Euphoria recently I would've thought this would've spurred the markets further. Oh well.

I think I'm going to sit out for a while and wait for price to perhaps reach 4,500 and play any bounce from there.

🙂

 

[london_lad]

You reckon, its time to buy now?

 

[wallstreet1928]

FTSE...............wretched FTSE!!

1 wekk 10 min chart

what can we discern from its peaks and troughs....

Key level 4608 .....pivot R1

strategy for Monday

> 4608 - I will go long 1st target 4630 ....amend to B/E , 2nd target 4680

< 4608 - I will keep playing the short game with stop loss @ 4610 ........... 1st target 4560 , 2nd target 4540, 3rd target 200 MA


external variables I will keep an eye on

GBP /USD ..........

EUR /USD ...........1.42 LEVEL...break of that and bias is on the downside as it pulls oil down,causing oil related stOcks to fall such as BP

OIL - 58.8 level .............strong resistance ........big gap gill window 58.8 - 59.9 !! I will be very suprised if that can fill the gap, EURO has to break above 1.43 if it does

1st target hit for my short position 4560 ...........

I am now contemplating a long position .....

waiting to see what happens at these levels

 

[london_lad]

SD, you got some equivalent for Short as well?

 

[london_lad]

Long signal's Doji appeared

 

[Manya1983]

Lets hope price hits 4,500 the same time as the 200 MA. That'd be a £5 point stake for sure. 😉

🙂

 

[london_lad]

Im getting buy signal on your RSI 5 now. william above 80 and RSI above 30 (not very strong though.)

 

[SuddenDeath]

RSI5 does not use Stochastic, RSI/STOCH 5 uses ..

Im getting buy signal on your RSI 5 now. william above 80 and RSI above 30 (not very strong though.)

stochastic and RSI, RSI5 generated a buy stop signal at 4567.7, from 15.40 bar

London_Lad, how come u dont log onto skype ?

 

[SuddenDeath]

anyone ever think of using a bond filter when trading ?

 

[wallstreet1928]

1st target hit for my short position 4560 ...........

I am now contemplating a long position .....

waiting to see what happens at these levels

I am looking to cover my long position @ 4574

I will then open up a short position @ 4570 -4575 if there is any signs of weakness .............