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

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I'm still looking to short at around 4593/4600. If it works then I'll hold until end of week as Im expecting US GDP figures to be worser than expected and hopefully Exxon can also send out a bearish statement like BP.

🙂
 
papak said:
Hey lapa, you still in?
Click to expand...

Hiya just got back from supermarket - yes my limit order I left was for 4585, mondays close - just missed it by 0.5

I was out when it fell back to pivot - with 24MA at that level too on the 10M my rules would say add to the long position : but in all likelihood I would have probably run like a chicken though 😛
 
Manya1983 said:
Anyone noticed that 4515 is a 23.6% Fib retractment from 13 July low to 27 July high. It also matches with the historical resistance/support of 4520 which made the long entry at 4520 this AM a good trade based on sound techinal indicators for those that took it.

🙂
Click to expand...

I had loads of support stuff going on down there, felt very confident, but didn't have fibs - I should really mark these in
 
minch said:
Short cable @ 1.6398.

Price retraced to neckline of H&S on the hourly.
Click to expand...

Out at 1.6378, get my first win in the bag.
Dont want to be holding cable thro the pending news.

Still got salt water in me ears, he he
 
papak said:
The low today is 2 days down from the high.
Today we had a false breakout from yesterdays low
This suggests that turn is in an we are in up cycle again. We whould therefore go higher than yesterdays high.
The target is based on a lot of backtesting, risk:reward is 1:2 with 70% success rate
Normally speaking we should hit this target today or tomorrow.
Click to expand...

We are in an upcycle again after that steep run, two days down the high is the only pause you see this rally taking? 😱

I need to read up on those books :smart:
 
We've got to wait and see. I won't be here for this afternoon. On the Daily, for those who like S&R lines there's
a solid one going through May and June at 4510ish, yesterday's and today's lows finding support there.

Now, which way? That's why I don't like the things. ;Maybe I'll get a trend tomorrow.

Good trading.

Split
 
Splitlink said:
We've got to wait and see. I won't be here for this afternoon. On the Daily, for those who like S&R lines there's
a solid one going through May and June at 4510ish, yesterday's and today's lows finding support there.

Now, which way? That's why I don't like the things. ;Maybe I'll get a trend tomorrow.

Good trading.

Split
Click to expand...

I'm still long - and still see the trend as upward?

See you tomorrow Split
 
Looking at the 2 hour chart Footsie is nearing the top range of a down trend. I prefer trendlines---just my personal view.
 
Splitlink said:
Looking at the 2 hour chart Footsie is nearing the top range of a down trend. I prefer trendlines---just my personal view.
Click to expand...

Split - I don't see this on the 2H?

In terms of TLs for this morning - See that TL on the 10M (OOH exc) then from 24 Jul high, swing lows of 27 Jul and yesterday?

This coincided with the 4520 - yesterdays S1 and low, as well as May high and the 4510 you mention.

Perhaps more aggressive trading is needed when tls and S/R coincide - esp in the morning as an early failed trade still gives time to get on board in the opposite direction and benefit from the trend.
 
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