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

[london_lad]

Guys a rather silly question. You guys have been trading for a while and I only started in July. Is this rally right technically? I noticed dojis, shooting stars, hanging man, and even my dead grandmother on the dailies charts. But, the market didn't give up. Is there something more fundamental going on like Peter Schiff who is in the camp of hyperinflation hitting the western economies soon and therefore basically the value isn't going up, its just repricing of equities bubbling the indices up?

 

[madoff]

Guys a rather silly question. You guys have been trading for a while and I only started in July. Is this rally right technically? I noticed dojis, shooting stars, hanging man, and even my dead grandmother on the dailies charts. But, the market didn't give up. Is there something more fundamental going on like Peter Schiff who is in the camp of hyperinflation hitting the western economies soon and therefore basically the value isn't going up, its just repricing of equities bubbling the indices up?

In March, there was panic selling, now it looks to me like panic buying.
The new bull market or a sucker rally - make your choice

 

[dr.blix]

well i have a simple newbie theory lonlad...

you're trading a consolidation pattern, say you think a bullflag is on it's final leg and about to break up over...then some bad news comes out and blam...the pattern is broken by people dumping their stock.

now reverse this scenario and expend the timescale...patterns may have been showing drops or corrections, but the data/news has been consistently ok... so the pattern is negated and investors continue to return.

this is only regarding equities of course, but maybe something to think about for the big picture re the S&P/Dow perhaps...anyhoo, prob a load of over simplified cobblers!

 

[wallstreet1928]

Guys a rather silly question. You guys have been trading for a while and I only started in July. Is this rally right technically? I noticed dojis, shooting stars, hanging man, and even my dead grandmother on the dailies charts. But, the market didn't give up. Is there something more fundamental going on like Peter Schiff who is in the camp of hyperinflation hitting the western economies soon and therefore basically the value isn't going up, its just repricing of equities bubbling the indices up?

Hence the popular phrase

trade what you see, not what you think

ignore the fundamentals otherwise it will always prevent your ability to do technical analysis efficiently

 

[wallstreet1928]

I am long cable

1.6517 ..stop loss 1.6487

target

to infinity and beyond

 

[london_lad]

I dont think the news was ok or good enough to warrant this rally. But then, who am I and a number of other analysts.

 

[london_lad]

good advice WS

 

[masnachu]

well i have a simple newbie theory lonlad...

you're trading a consolidation pattern, say you think a bullflag is on it's final leg and about to break up over...then some bad news comes out and blam...the pattern is broken by people dumping their stock.

now reverse this scenario and expend the timescale...patterns may have been showing drops or corrections, but the data/news has been consistently ok... so the pattern is negated and investors continue to return.

this is only regarding equities of course, but maybe something to think about for the big picture re the S&P/Dow perhaps...anyhoo, prob a load of over simplified cobblers!

Nope that's pretty much it , remember TA doesn't drive markets in itself, it's sentiment/perception etc. You can have all the best TA setups in the world signalling to go a certain way, if you happen to get something at the time that alters sentiment/perception, your setup/trade is toast.

 

[Geofract]

I have made a lot of toast recently :cheesy:

 

[lapalabra]

Nope that's pretty much it , remember TA doesn't drive markets in itself, it's sentiment/perception etc. You can have all the best TA setups in the world signalling to go a certain way, if you happen to get something at the time that alters sentiment/perception, your setup/trade is toast.

Toast has been my staple diet recently

 

[dr.blix]

I dont think the news was ok or good enough to warrant this rally. But then, who am I and a number of other analysts.

TA doesn't drive markets though lonlad, it reflects them.

 

[dr.blix]

appalling day today with most of the small caps btw.

i wonder if, like little woodland creatures scurrying from a yet unseen forest fire, they are a harbinger of something nasty coming.

or maybe i should stop eating those funny looking mushrooms

 

[masnachu]

I'm keeping all my bits of toast to shove in mervs gob, maybe that'll shut him up

 

[dr.blix]

we could all keep our bits of toast and build him a toast cell, complete with toast padlock.

then again it'd only take a large jar of marmalade to break him out...so mebs scrap that idea.

EDIT:

although this could be countered by posting extra guards around breakfast time...and hiding the butter.

 

[lapalabra]

I have made a lot of toast recently :cheesy:

You beat me to that gag!!

 

[bagesh]

we are getting close to my prediction

5110

Your projected target hit .. nice one.
What do you think will happen from here now.

 

[dr.blix]

looks like a typical FTSE light volume float this morning.

 

[Geofract]

A question for Masnachu. Which TF's do you trade, or perhaps more importantly, which higher TF do you use for direction?

 

[masnachu]

A question for Masnachu. Which TF's do you trade, or perhaps more importantly, which higher TF do you use for direction?

Just off out Geo ( 'tis my afternoon off) , will answer later on today.

Have a good afternoon gents , speak laters

 

[london_lad]

data at 13:30 could jolt the market a bit. I suspect it will be better than expected. Isn't that always the case these days, because we have low expectations to start with.