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

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Yes cable made a firm rejection and bounce from support at 1.6300, its a mean hombre, its easy to get whipped with this one.

You did well to close your short lapalabra.
 
masnachu said:
Only just got back home , so I assume your out of the short now ?

Look at the 10min (Daily FTSE) , market hours , see that descending type wedge pattern ?

In future always be on the look out for that pattern in down trends , esp the FTSE , it likes them, its a sign that the bear move is or could be coming to an end.

other EG's Daily - Oct 10-27/08 , Jan 19-23/09.

and an example of the pattern failing Sep 01-19/1998.

Have been using it for years 👍
Click to expand...

Many thanks for that. Yes I got out for a small up, on the trade. Looking for the next short....
 
might want to clock the 60mins before firing off that short , just a hint to be carefull , who knows whats going to happen.
 
anyone trading cable higher in that range (1hr) ? not a market I trade , just having a look , being nosey in a quiet 5 mins.
 
I have 38.2% fib retracement on ftse from yesterdays heighs to yesterdays lows (although includes out of hours trading) at 4265 and see some resistance from 30/06 so have gone short at 4264 target 20 points...crossing my fingers, need to make back points lost in a rush of blood to the head yesterday 🙂
 
Death in June said:
I have 38.2% fib retracement on ftse from yesterdays heighs to yesterdays lows (although includes out of hours trading) at 4265 and see some resistance from 30/06 so have gone short at 4264 target 20 points...crossing my fingers, need to make back points lost in a rush of blood to the head yesterday 🙂
Click to expand...

I am with you:whistling, so lets hope we now have a re test somewhere around 4232 ish? Or beyond!
Time will tell.
 
Death in June said:
I'm a bit worried about the 4250 level as have 20ma on 5 min chart and often acts as support in strong move up
Click to expand...

Hopefully then the 10 min chart which has 20 and 50 ma´s south of where we are will draw the price down!?!

The 60min chart also has in spirit bear flag.

Same as the 4 hr and daily.

So, hopefully the longer TF which are at odds will prove the trend.

Not feeling comfortable though!

Surely, with all the negative sentiment yesterday and possibly more downside from the US, people will want to take their profits from today?

Everything crossed!🙁
 
hmmm bounced off the 20ma on 5 min but still holding on..in these situations its so easy to close for a couple of points rather than staying in until ones target is hit... all I need now is to hear that ws or sujith are going long :cheesy:
 
Death in June said:
hmmm bounced off the 20ma on 5 min but still holding on..in these situations its so easy to close for a couple of points rather than staying in until ones target is hit... all I need now is to hear that ws or sujith are going long :cheesy:
Click to expand...

And neither are currently logged onto the thread!😢
 
Yes Kaisen I agree.

I often think that once entering a trade I should go for a walk and then return to see the outcome. I all to often panic when I get into profit and then see the market go slightly against me. And here is the Deadly Sin: when the market goes immediately against me I let my trade breathe but not when it moves in my direction... I have to change that in order to be a successful trader
 
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