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

[wallstreet1928]

Cheers ws.

Do you also look at fib?

yes now and again .............but don't pay too much attention

price action tell you everything

 

[Geofract]

Hey Geo, dont know if you still online, but yes I was still on that swissy trade, was a shock to come back to that massive move, Im not grumbling though😱

Excellent! Glad to see you caught most of that move BW.

 

[Geofract]

I now count an H1 bias change to the downside on the FTSE, on 24h data. 61.8 retrace would be 4610 ish... I'll be looking there for potential shorts tommorow i think. But, hey, perhaps this monster rally is never gonna turn, but we'll all keep on shorting regardless 😆

edit: 61.8% of previous swing is 4610, on 24h.

Anyway, as I was saying yesterday (above) 🙂 I was only 8 points away from the top today 🙂 yeaahhhh

It's great when you learn something new, but even better when you can start putting into practice.

Ok maybe it was a fluke 😆

 

[dr.blix]

u about geo?

i'm thinking reversal @ 195 (H1 [21]) on E$...what do you think?

 

[wallstreet1928]

Oh and geo trend lines! Are these just points that connect at angles? Any suggested reading? I know you are a big fan.

geometric trend line analysis is very subjective in nature.....

it just comes with experience my friend

keep watching the ITMS videos and you will just pick them up from there

 

[wallstreet1928]

u about geo?

i'm thinking reversal @ 195 (H1 [21]) on E$...what do you think?

Yes I would be tempted to short it @ 1.42 as well provided oil hits 67.75 -90 area

 

[wallstreet1928]

I am long Nasdaq 1590 .......... stop loss 1570

target 1630

trailing stop hit .....

10 points profit

 

[dr.blix]

Yes I would be tempted to short it @ 1.42 as well provided oil hits 67.75 -90 area

didn't even make it to 195, reversal happened at the 180 res, saw it all coming, but didn't press the button...just let a nice 20 pts float by...

 

[Geofract]

u about geo?

i'm thinking reversal @ 195 (H1 [21]) on E$...what do you think?

Yes, 195 might be nice, but personaly I would prefer 1.4220 as a minimum, as in 50% fib retrace. It's looking very weak now though!! Also, I notice it's respecting the base of the channel that Mas showed us last night.

Where are you counting 21 from DB?

 

[Geofract]

There is potential for a long in theory at 1.4155 - not calling it though, but it would be funny if it happened 🙂

Long only if the channel stays intact. The H3 bias is still long believe it or not, which makes this move corrective for the moment in my book.

 

[kaisen]

trailing stop hit .....

10 points profit

Did you use IG for that trade ws as i didnt think CMC offered a trailing stop facility?

Or did you manage it manually?

ATB 🙂

 

[dr.blix]

Yes, 195 might be nice, but personaly I would prefer 1.4220 as a minimum, as in 50% fib retrace. It's looking very weak now though!! Also, I notice it's respecting the base of the channel that Mas showed us last night.

Where are you counting 21 from DB?

closed my charts now geo, it was an hourly 21 landing on this hour. thought 180 might be the reversal, but felt it may be snidey and jump up to 195 before dropping.

target was support @ 160. didn't clik the button when it stepped outside my mini T line...and down it went.

really loving playing with the E$.

had some humbling experiences earlier when i got chewed up a bit for about 30 pts...then got them back again.

who needs the moody FTSE! :cheesy:

 

[wallstreet1928]

Did you use IG for that trade ws as i didnt think CMC offered a trailing stop facility?

Or did you manage it manually?

ATB 🙂

I do everything manually my friend

always lock in your profits ..........especially in scenarios like today!!

If Nasdaq beaks 1600, then it must fly higher as its the 4th time it has approached 1600 ....

if it fails to carry on trading above 1600 then that means Nasdaq will not continuehigher and therefore take at least 10 points profit to rewards yourself for good analysis and trade

 

[Geofract]

Bias change diagram. I hope PN doesn't mind me sharing this. I don't think it is exclusively his idea, so should be ok.

Ok, if you count the highs and lows on E$, as per diagram, you'll see the bias is still long. we need to make a new swing high (5), and then break through todays low to get a bias change to the short side.

DB, 14195/14220/14238 could be ideal areas to short. Of course, it might not get there!

edit: I am counting Highs and lows on H3 btw! H1 is already confirmed as short bias. Or is it? I will check.

 

[wallstreet1928]

I am now short FTSE 4567 ....stop loss 4597

leave this trade for tomorrow

 

[kaisen]

I do everything manually my friend

always lock in your profits ..........especially in scenarios like today!!

If Nasdaq beaks 1600, then it must fly higher as its the 4th time it has approached 1600 ....

if it fails to carry on trading above 1600 then that means Nasdaq will not continuehigher and therefore take at least 10 points profit to rewards yourself for good analysis and trade

Thanks ws.

Following your Nas100 trade and our discussion of geo trend lines, and the ITMS stuff i have started loading charts with no indicators except the moving averages etc.

I was tracking the dow as i believe this moves most when the buy programs kick in. I had a lovely geo trend line in which if i had trusted would have given me a nice bounce and a nice 50pnts play from 9048 to 9100!
I didnt have the confidence however and I didnt get a second chance to enter. Everything started dropping so quickly I wondered what was happening.
Anyway, think i will look at this tomorrow. Sometimes several indicators can confuse or delay entry as you try and pick the perfect moment with everything aligned!
Also the charts are not as clear with the indicators taking up space.

Well done to you, again sir!

Have a nice evening!

🙂

 

[wallstreet1928]

Thanks ws.

Following your Nas100 trade and our discussion of geo trend lines, and the ITMS stuff i have started loading charts with no indicators except the moving averages etc.

I was tracking the dow as i believe this moves most when the buy programs kick in. I had a lovely geo trend line in which if i had trusted would have given me a nice bounce and a nice 50pnts play from 9048 to 9100!
I didnt have the confidence however and I didnt get a second chance to enter. Everything started dropping so quickly I wondered what was happening.
Anyway, think i will look at this tomorrow. Sometimes several indicators can confuse or delay entry as you try and pick the perfect moment with everything aligned!
Also the charts are not as clear with the indicators taking up space.

Well done to you, again sir!

Have a nice evening!

🙂

thank you my friend

you have to experiment and find a technique that works for you

more than happy to help

take it easy

 

[wallstreet1928]

I am now short FTSE 4567 ....stop loss 4597

leave this trade for tomorrow

amend to break even as I don't want to be a victim of any asian reversal session whilst I'm sleeping

Nikkei key level ..............10, 070

> 10, 070 ........... FTSE will go to 4590

< 10, 070 .................FTSE will go to 4530

 

[Geofract]

I am now short FTSE 4567 ....stop loss 4597

leave this trade for tomorrow

I was thinking about shorts around that level as well, and upto 4580 ish. Think I will wait for tommorow though.

I hope there's no freak asian session that takes you out WS!

 

[dr.blix]

Bias change diagram. I hope PN doesn't mind me sharing this. I don't think it is exclusively his idea, so should be ok.

Ok, if you count the highs and lows on E$, as per diagram, you'll see the bias is still long. we need to make a new swing high (5), and then break through todays low to get a bias change to the short side.

DB, 14195/14220/14238 could be ideal areas to short. Of course, it might not get there!

edit: I am counting Highs and lows on H3 btw! H1 is already confirmed as short bias. Or is it? I will check.

sorry if i'm over simplifying these geo, but they look like and elliott wave and a H&S (with an obvious LH and HL respectively on the two lower patterns) is this what they are essentially? using the final swing as the permission for an entry of the breakout?