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

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Geofract said:
Lets hope so, after 3 hours of sideways consolidation! 😴 stop now @ 79.580

Agreed on USD/CAD, I defo missed a trick there, and that's on my watch list!!
Click to expand...

I chose 3 pairs for orb this morning, and for the USD pair thought USDJPY was a better set up being so close to a major TL I had there, but its been rubbish - I've only take 18 pips from it.

I really do like the consistent downtrend on the 1H for USDCAD. Will be interesting once it reaches bottom of that channel.
 
@ GEO, Manya - What do you guys make of GBPJPY, just broken out of the hourly channel on the upside. Pretty fierce all morning.
 
isnt there anywhere online in the format of an economic calender but for company earnings
 
kaisen said:
Hey ws, at what point do you conisder a pattern confirmed?

EG, currently we have 2 down candles on the 10TF and currently have 2 inside up candles creating a bear flag.
At what point would you consider the bear flag pattern negated? When a 10 candle closes higher than the last down candle or when the up candles exceed the first down candle?

If you could give your view on bull flags and any other pattern on this subject that would be greatly appreciated.

ATB
🙂
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Sorry Kaisen I have been busy at the manchester county court office. I had to submit my defence against the crazy tenant I had previously.......going up the elevators to the 11th floor in the new office made me dizzy!!

I will give you an example of a scenario when I believe todays bull flags will be negated..

FTSE currently @ 4680 ...........


FTSE has produced bull flags all day long ............


FTSe has recently traded as high as 4692 and recently put in a low of 4675-4672...this is signs of exhaustion!!

I will wait for market to create a double top @ 4692 and then trade below 4675 .........that would be classed as a failed bull flag and market will then trade lower....

Double top @ 4692 could be a good level to short provided we get confirmation at that level ...........

my only concern at present is oils resilience and immense strength..........along with euro breaking above 1.43 !!

i would certainly not like to take a short position @ this moment in time ........

best to sit on the fence
 
wallstreet1928 said:
Sorry Kaisen I have been busy at the manchester county court office. I had to submit my defence against the crazy tenant I had previously.......going up the elevators to the 11th floor in the new office made me dizzy!!

I will give you an example of a scenario when I believe todays bull flags will be negated..

FTSE currently @ 4680 ...........


FTSE has produced bull flags all day long ............


FTSe has recently traded as high as 4692 and recently put in a low of 4675-4672...this is signs of exhaustion!!

I will wait for market to create a double top @ 4692 and then trade below 4675 .........that would be classed as a failed bull flag and market will then trade lower....

Double top @ 4692 could be a good level to short provided we get confirmation at that level ...........

my only concern at present is oils resilience and immense strength..........along with euro breaking above 1.43 !!

i would certainly not like to take a short position @ this moment in time ........

best to sit on the fence
Click to expand...

Thanks ws, i was just thinking about a re-test and a double top. I have alot of resistence above.

ATB
🙂
 
BP is king of FTSE...................

if this market rips higher BP has to move above 510 - 512 ...........

keep an eye on it chaps
 
Nasdaq is the Key to every single market in the world today .........

If NAsdaq breaks above 1630 and trades northwards then every market will break through resistance and trade higher

formula

> 1630 = FTSE 5000 next level

< 1600 = FTSE trade back to 4000
 
You really think it'll could go back to 4000 this month because Im not sure

shell is bigger then bp and its not going anywhere much, would have thought thats more of a determiner though hsbc is big enough to move everything also


I see movements in china as more significant. They had a small retraction recently and alot of views for recovery rely on their magic 8% growth even though they are a quarter of usa probably
 
lapalabra said:
@ GEO, Manya - What do you guys make of GBPJPY, just broken out of the hourly channel on the upside. Pretty fierce all morning.
Click to expand...

No trade there for me atm Mr. Lapster - but only because I only have 2 setup criteria - AM range breakout, and Fib pullbacks - for a Fib pullback, i would look to buy at a minimum of 159.18 (50% fib) given current price levels.

Also, consider ATR is 270, and it's already put in a move of 200 pips, so there may not be much left for the day - just a thought.

edit: it will probably go to the moon now!! 😆
 
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Manya1983 said:
EUR/JPY stopped out. -30 pips on that one.

🙂
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I got out after I realised i was jumping into something I hadn't planned cos it looked good from a glance 😕

took a hit on that one - I'm just going to stick to what I plan for AM breakouts and leave it at that for now methinks.
 
not a fan of that £Y break out idea, while true it is attempting a break , I'm seeing 15min more in a consolidation phase , got a similar feeling towards H1. (( But keep in mind it's (or was) Monday morning , and I tend to trade like a plank on Monday morning))
 
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