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

[h_a]

Everything is looking weak except ftse it's jus not falling

 

[SuddenDeath]

RSI5 sell stop at 4689.9

 

[london_lad]

long ftse 4703

why?

 

[london_lad]

btw: fyi Volume Leaders - Yahoo! Finance

 

[kaisen]

believed ththere was resistance at 4685 but as soon as I shorted it shot up. It's showing resistance at 4700 might go down soon any thoughts

Hi H_A,

I am still learning but the only thing i would say is while you believed (your words) there was resistance, you should have waited for confirmation.

Picking the actual turning point or absolute top or bottom is very very difficult so waiting for confirmation seems more like trading than gambling (and i am not suggesting you are gambling!)

I am currently looking for confirmation by way of a closing 10 min candle closing either above or below (depending on trend direction) the close of the last 10 min candle as confirmation.

If this does not occur then there is no confirmation.

Still looking at all this though.

 

[rezadamus]

long ftse at 4649...stop at 4619...limit at 4690

made 41 points on this from yesterday...I'm mainly going to trade medium term trades...less stressfull & larger moves

 

[kaisen]

FTSE DAX gap

Anyone know why we are so far ahead of the DAX today?

DAX fell further yesterday and is still more cautious today.

Oil has dipped below 72$, gold down, currencies largely unmoved, BP and mining stocks weakening etc.

Looking for reasons not to short!?!

 

[kaisen]

made 41 points on this from yesterday...I'm mainly going to trade medium term trades...less stressfull & larger moves

Hey Reza!

Sounds good but it would concern me at the mo with the volatility although i guess it comes down to analysis as alot of the volatility could be noise?

 

[h_a]

Anyone know why we are so far ahead of the DAX today?

DAX fell further yesterday and is still more cautious today.

Oil has dipped below 72$, gold down, currencies largely unmoved, BP and mining stocks weakening etc.

Looking for reasons not to short!?!

That's what I want to kno sax has shed around 45 points but ftse hasn't fallen much whyyy

 

[kaisen]

That's what I want to kno sax has shed around 45 points but ftse hasn't fallen much whyyy

Its a conspiracy!

 

[barjon]

Its a conspiracy!

No, it's the banks - they have a heavyweight influence on the index.

We're at a big round number 4700 and as a matter of interest here's a half hour ftse chart (SB - so probably a bit adrift from the real thing) with shorting zone marked. Just poked into it earlier.

good trading

jon

 

[london_lad]

DAX pressure could be mostly attributed to Commerzbank's sharp loss

 

[Manya1983]

GBP/JPY ascending triangle on the hourly. Could be an interesting breakout.

 

[h_a]

i shorted at 4682 im 5 points wot do u guys think should i close

 

[woolley]

long ftse 4703

out 4678 down 25 pts . thought I saw a break out on the 5 min chart also on the s&p 500

 

[Manya1983]

i shorted at 4682 im 5 points wot do u guys think should i close

As your entry isn't the best and with the BoE meeting likely to cause a bit of volatility I would suggest you close out. Final call would be yours, good luck.

 

[kaisen]

No, it's the banks - they have a heavyweight influence on the index.

We're at a big round number 4700 and as a matter of interest here's a half hour ftse chart (SB - so probably a bit adrift from the real thing) with shorting zone marked. Just poked into it earlier.

good trading

jon

Hi Jon,

Absolutely correct my friend.

I think the key will be when Barclays and HSBC trade lower then the market will really turn over.

All my other variables are in place for a fall.

Mining stocks have weakend from earlier and many below pivot points, BP has dropped big, oil has gone down, gold down etc

Thanks for the input and the chart.

 

[london_lad]

we are staying above 200MA on 10M since last night's GDP forecast for UK. I am looking to go long on 200MA if opportunity comes. At the moment the level is around 4670

 

[h_a]

closed for +5 points

 

[h_a]

Hi H_A,

I am still learning but the only thing i would say is while you believed (your words) there was resistance, you should have waited for confirmation.

Picking the actual turning point or absolute top or bottom is very very difficult so waiting for confirmation seems more like trading than gambling (and i am not suggesting you are gambling!)

I am currently looking for confirmation by way of a closing 10 min candle closing either above or below (depending on trend direction) the close of the last 10 min candle as confirmation.

If this does not occur then there is no confirmation.

Still looking at all this though.

ye thanks for the advice mate, i dont kno wot happened today i was looking for a good position did good yesterday but i will def wait for confirmation and not rush in.