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

[lapalabra]

Bank of England MPC voted 9-0 to keep money printing at £175bn - Telegraph

 

[Chelski]

Just got back...wow...we went higher, as always I exited too early.

Chelski, no I was referring to the swing high of 17th before this move down.

I have the levels of the fibs on the daily put in, but generally I plot the fibs for a retrace from a thrust move (which i qualify as moves down with no trending on the 4H - the move from swing high on 11th was trending downward). Those levels are my targets for a thrust move back up.

I see we are that 50% fib level now, as well as a necktie of 50 and 200MA, as well as R1. I believe the fundamentals point to us to be going downward, and on daily we have completed the right shoulder of the H&S now.

I will be looking to go short on this basis, however any move upward will put the 61.8% level (coincides with weekly pivot and just above daily R2) as the level to look for a bias change downward and the next level to short.

Just want to see this upward momentum finish and downward trend to resume before opening any position - cable has burnt me toooooooooo many times. Also looking at other crosses, CHF and JPY.

What are your plans here?[/QUOTE

Interestingly these are similar levels!

I will be looking at other pairs too, never happy when you get a big candle like today, i find often any subsequent moves dont have anything left in the tank.
if you look at where support came in today pre news it is .38 fib of yesterdays move so for me i we fail to go higher to R2/.618 a break of 16330 ish level gives downside.

 

[Da.DesiTrader]

Pentlow, there's your short signal again at 12:55

 

[litetrader]

Hi all. I am new and have been practising trading only on FTSE Index SB with CMC. Still learning the technical analysis. FTSE going sideways with resistance aaround 5176. Will it go up or start pushing down? I see a triple top for the day but seems as we get the US open coming up, the FTSE keeps going up. What do you think?

 

[Da.DesiTrader]

Hi all. I am new and have been practising trading only on FTSE Index SB with CMC. Still learning the technical analysis. FTSE going sideways with resistance aaround 5176. Will it go up or start pushing down? I see a triple top for the day but seems as we get the US open coming up, the FTSE keeps going up. What do you think?

I think FTSE will come down when US opens. The gapfill level of FTSE when dow closed last night is around 5153ish level.

 

[Da.DesiTrader]

I am short FTSE at 5170

 

[litetrader]

Thanks. I also went short at 5170 with stop at 5185.

 

[Da.DesiTrader]

Thanks. I also went short at 5170 with stop at 5185.

I hope you didn't do it 'cause of me. Always do your analysis mate. Let's see how it turns out. My stop is at 5195

 

[litetrader]

I hope you didn't do it 'cause of me. Always do your analysis mate. Let's see how it turns out. My stop is at 5195

No worries - I had already done so b4 u replied based on resistance levels. Thanks

 

[Da.DesiTrader]

Out at B/E, I dont like how price is struggling hard to stay up. In a relatively strong uptrend, I dont want to make money on weak pullbacks. Besides, falls are supposed to be *HARD*. This is hardly hard.

 

[pentlow1]

DAX trading between the PP of 5718 and mid point to R1of 5731. I guess stuck here until the US gives us some direction. i am still short from 5745, and will watch and wait. I still feel that the US could open lower today ahead of the FED statement later today. i will protect 10 points profit so have moved my SL down to 5735.

 

[Da.DesiTrader]

I think today is bullish for FTSE. Look at the double tops on 5M. The ups were swift, while the downs were slow and steady, getting down stairs. It should be the opposite as per the nature of buying and selling.

 

[litetrader]

I stuck in there on FTSE and closed out at 5165 with 5 pips profit. Probably left a lot more on the table.

 

[Da.DesiTrader]

Not bad lite. Its all good.

 

[madoff]

i wonder if dow is going to be stuck in a range until the FOMC meeting later today ... yawn

 

[pentlow1]

DAX trading between the PP of 5718 and mid point to R1of 5731. I guess stuck here until the US gives us some direction. i am still short from 5745, and will watch and wait. I still feel that the US could open lower today ahead of the FED statement later today. i will protect 10 points profit so have moved my SL down to 5735.

Weve broken below 5718, and now just gone below 5701. Have moved my SL to 5728. $ is a bit stronger this am which wont help the DOW. Next target is 5684 on the DAX

 

[pentlow1]

Weve broken below 5718, and now just gone below 5701. Have moved my SL to 5728. $ is a bit stronger this am which wont help the DOW. Next target is 5684 on the DAX

We are now below S1 of 5683. Ive moved my SL down to 5705 just above mid point . Next target 5670 and then S2 5657.. $ index now at 22.68 so quite a bit higher today.

 

[Chelski]

FTSE Short 5156 @ 15:22 pm. Closed + 25 to Gap. 25 points

 

[litetrader]

I was away from the screen and missed the big drop on FTSE. Am long now in at 5132. Target 5142 which was yesterdays close.

 

[Da.DesiTrader]

Whoa. Who was short? what happened.