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

[london_lad]

4782ish is silly support region. Let it break 4783, then next is 475something target.

 

[lapalabra]

Papak, I recall you saying last week that we were due to keep rising until middle of this week when we could expect a fall.

I hope you keep polishing the crystal ball...

 

[london_lad]

4th attempt. 5th time a charm

 

[london_lad]

sorry, second on 15M and 4th on 5M

 

[london_lad]

h_a: what signal/method did you use to go short at that 4819 level?

 

[wallstreet1928]

FTSE chart ............


bounce @ 4785

previous resistance now = support

Euro data @ 10am could also give a lift

support on
BP @ 515
BHP billiton @1490 -1520 region
barc @ 355
mks @ 336 - 338

DAX also has support @ 5250 -5270 region

oil has support @ 67.8 region

EURO holding up well

 

[wallstreet1928]

I will certainly short again after enjoying the little rise upto 4800 ....

I will look to short at gap down level 4815 .........stop loss 4840

target 4760 -4740

pound jumping after PMI data

 

[wallstreet1928]

FTSE chart ............


bounce @ 4785

previous resistance now = support

Euro data @ 10am could also give a lift

support on
BP @ 515
BHP billiton @1490 -1520 region
barc @ 355
mks @ 336 - 338

DAX also has support @ 5250 -5270 region

oil has support @ 67.8 region

EURO holding up well

BP jumps to 525 on new oil exploration find

 

[SuddenDeath]

good morning everyone,

Never use a Market order with IG they always seem to screw you out of 2-4 points

 

[wallstreet1928]

I will certainly short again after enjoying the little rise upto 4800 ....

I will look to short at gap down level 4815 .........stop loss 4840

target 4760 -4740

pound jumping after PMI data

I am now short 4810 ...stop loss 4835

sorry gap down level was 4808

 

[wallstreet1928]

BPO resistance 536 = market resistance

 

[london_lad]

VIX is up as well.

 

[wallstreet1928]

I am now short 4810 ...stop loss 4835

sorry gap down level was 4808

amend to break even

 

[london_lad]

we saw false breakout at 4783ish level. Will it happen this time?

 

[wallstreet1928]

I am now short 4810 ...stop loss 4835

sorry gap down level was 4808

trailing stop loss hit

10 points profit

this market is now beginning to look slightly bullish .....we seem to have bear flag being negated!!


hmmmm..........

 

[Splitlink]

In the ideal world of time cycles the market should pause / retrace a bit for 1 or 2 days before going further down. I will probably stay on the sidelinest and watch price action.

SP500 has retraced 61% of last upmove in 2 days! See chart. Break of 17 Aug low will mean the whole rally is over and we crash down again.

FTSE only retraced not even 50%, 13 Aug resistance turned support (see chart) so FTSE has some catching up to do..

This morning I was a bit too clever for my own good and got stopped out of a short trade by trading, what I thought was, a pullback.

So I have been thinking about Fib lines in trading and have reproduced what I did and included Fib lines, although I was not using them, at the time

Noticing your charts, I am including my own trading for this morning and would like your view (and anyone else's) on what I did. To put it bluntly, my stop was too close, although I have a low tolerance for stops that are too far away. That happens. but how could Fibs have got me out of trouble, please?

Would anyone care to show me how I could have, successfully, entered a short position by using them?

It seems to me with Fibs, that the 38% and the 80% were valid turning points. How to tell which one?

 

[london_lad]

SD: how are you? what's your view for today?

 

[kaciara]

i'm waiting 4.8k support...

eheh
now u can go long...

 

[london_lad]

long @ 4804

 

[papak]

This morning I was a bit too clever for my own good and got stopped out of a short trade by trading, what I thought was, a pullback.

So I have been thinking about Fib lines in trading and have reproduced what I did and included Fib lines, although I was not using them, at the time

Noticing your charts, I am including my own trading for this morning and would like your view (and anyone else's) on what I did. To put it bluntly, my stop was too close, although I have a low tolerance for stops that are too far away. That happens. but how could Fibs have got me out of trouble, please?

Would anyone care to show me how I could have, successfully, entered a short position by using them?

It seems to me with Fibs, that the 38% and the 80% were valid turning points. How to tell which one?

Hi Splitlink,
Your chart is looking at shorter timeframes. I normally combine Fib with time cycles. In the chart I showed earlier we go 2/3 days down and then we hit a fib level > good chance we bounce off it.
The problem with fibs is like you say how do you know which one to take? There is not an easy answr for this. It depends on market state (choppy or trending), elliot wave structure etc. Can be a study in itself.
The one thing I think could help a lot of people here is to look at larger timeframes and plot fib lines from there. That could give you good points where a market might turn or halt on a day.
Hope this helps (probably not much?)
papak