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

[wallstreet1928]

I am long S&P 822.4 ...stop loss 816

stop loss hit but my RIO trade is looking beautiful

amended trailing stop loss 2468

2500 here we come as forecast earlier in the morning......

it has paid for 80% of my losses today!!

 

[wallstreet1928]

I am short FTSE 3900 ...stop loss 3930

last trade of the day (indices)

 

[wallstreet1928]

I am short barclays 165 , stop loss 170

I don't like posting share trades on here.........

do people mind if i post equity trades as well?

 

[wallstreet1928]

Rio Tinto


1 yr daily and 1 month 1 hr charts


break above 2400 may well take us to 2500

lo and behold it hits 2500

hip hip hurray

 

[wallstreet1928]

I am short barclays 165 , stop loss 170

I don't like posting share trades on here.........

do people mind if i post equity trades as well?

stop loss hit again

not a good day today guys

the only thing thats worked today is RIo tinto

 

[Trader1UK]

I am short barclays 165 , stop loss 170

I don't like posting share trades on here.........

do people mind if i post equity trades as well?

Go for it WS, dont mind you posting equity trades....
Overall a very coppy market again,,,

 

[wallstreet1928]

I am short FTSE 3900 ...stop loss 3930

last trade of the day (indices)

a rarity for today but closed 14 points profit

 

[Dentalfloss]

wallstreet..good one.rio gone well
have a great weekend
posting a chart of nas 100.shows the death zone quite clearly

 

[Dentalfloss]

sp500.looking to push thru the resistance

 

[vchohan]

Hey guys how you all doing?

Been checking in every evening after work and sitting on the sidelines for a while I've been learning a few things.

WS when you saw that break this morning which then turned to fake breakout on the FTSE, just wondering whether you wait for a confirmation candle bar on the next ten minutes above the resistence line drawn? Or do you do both meaning also trade when the candle bar closes above the resistence line? Hope that makes sense?

Hope everyone is well and good!

Vikash

 

[vinicius]

Nice job Mate... I wish I had time to follow this and share ideas with you!

Keep it up!

 

[wallstreet1928]

Hey guys how you all doing?

Been checking in every evening after work and sitting on the sidelines for a while I've been learning a few things.

WS when you saw that break this morning which then turned to fake breakout on the FTSE, just wondering whether you wait for a confirmation candle bar on the next ten minutes above the resistence line drawn? Or do you do both meaning also trade when the candle bar closes above the resistence line? Hope that makes sense?

Hope everyone is well and good!

Vikash

It was a Rookies mistake, I was feeling a bit too bullish and i learnt a vital lesson from it

but like a rookie I opened two trades in the same direction (long dax and ftse) ...another lesson learnt!!

I did not observe my trading plan and paid the price

I also did not wait long enough for 2 10 min candles to form for confirmation...........another lesson learnt my friends!!

I have made several mistakes today, except my Rio Tinto trade and I will certainly be preventing any repeat of them in the future

 

[wallstreet1928]

Its been a long day today guys

i am signing off and i might be back later tonight to post some charts

 

[Trader1UK]

Thanks WS,,

 

[wallstreet1928]

FTSE weekend analysis

what a week hey, stuck in a range and very hard to trade ....indecisiveness is the word to sum it up!!

1 week 1 hr chart

red trend lines converging - break out possible on either side(violent breakout considering we have been coiling up all week )

scenario 1 - confirmation above 3950 and I will look to go long - red trend line/ horizontal blue line need to be broken

scenario 2 - confirmation of below 3875 and I will look to go short - red trend line/ horizontal blue line need to be broken


1 week 10 min chart

same scenario on 10 min chart my friends

2 black lines are key pivots for me in this market

we closed below 200 MA which is a negative sign for me, not to mention we are trading below all 3 MA, 20 and 50 MA's

we have tried 4000 and failed, tried 3960 and failed , 3940 and failed , 3930 and failed

All negative signs for me when looking back over the week end

 

[Dentalfloss]

wallstreet.
i dont think the chart is a good one, you displayed for the readers.
they are not getting the true picture of the price action.i am posting ,that gives a general veiw.please correct me if you think it is wrong
this chart is 5 min data for 1 month.you can see the price going up and is now in a flat zone,with no real direction.just bouncing between 3800 and 4000.there are a couple of s/r zones as wallstreet pointed out.
to readers.pay little attention to chart formations.just look at the general picture
there are a few wild moves,which distorts the general picture,within the consolidation zone
hope this helps
guzel,guzel

 

[Dentalfloss]

same chart,with some noise reduction.
the chart is with close data and not hilo plot.
you can see the general shape of the action more clearly
hope this helps

 

[Dentalfloss]

eod chart explains it all.
price is getting squeezed into a triangular formation
could break either way.a bracket order might be the best way to play this one
some p/f traders double up on thier position size,once they know the direction of the breakout

 

[wallstreet1928]

wallstreet.
i dont think the chart is a good one, you displayed for the readers.
they are not getting the true picture of the price action.i am posting ,that gives a general veiw.please correct me if you think it is wrong
this chart is 5 min data for 1 month.you can see the price going up and is now in a flat zone,with no real direction.just bouncing between 3800 and 4000.there are a couple of s/r zones as wallstreet pointed out.
to readers.pay little attention to chart formations.just look at the general picture
there are a few wild moves,which distorts the general picture,within the consolidation zone
hope this helps
guzel,guzel

Good weekend to you dentist my friend

we all have different views/styles/methods

I always welcome your perspective(with high regard) as it challenges mine and makes me think and analyse again

the chart i posted is 1 week 1 hr, and is a very short time frame for scalping only

correct me if I am wrong but you are a swing trader, yes or no?

Although I do like to give the bigger picture and I still have to do 1 month/3 month/1 year chart

I have never used a 5 min time frame , 10 mins is my minimum because I believe it is hard to discern a trend for me(other people have different views and I respect that)

I use 10 min to 60 min candles for trading

but every trader and trading plan is different, So I encourage every trader to work out a plan or time frame that is profitable for you

 

[Bloodhound]

"to readers.pay little attention to chart formations.just look at the general picture
there are a few wild moves,which distorts the general picture,within the consolidation zone
hope this helps"

"eod chart explains it all.
price is getting squeezed into a triangular formation
could break either way.a bracket order might be the best way to play this one"

Dentist, don't take this the wrong way, but I'm slightly confused!!?!

KJ