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

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Geofract said:
Hi Mas,

I hope those slaps weren't too painful!

£Y is range bound by my reckoning, and I shouldn't have even been considering buying it according to the rules! Stupid me.
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Yep in a range (see dailies) , slappage came earlier in the week when range starting to form, just the usuall sub 20pip s-loss stuff. It's the fact that there were 2 in a row , always a sign I'm the wrong side and it's time to reevaluate. At mo (Daily) does look like it could attempt some upside , watching the action on H4/H1 to confirm or not.

Geofract said:
RE: Y Index weighting, I found this for the Dollar US Dollar Index and am looking for something similar on the Y. Perhaps it doesn't exist though?
Click to expand...

It's not something I've ever heard off/seen , did a quick google , saw nothing. I think the $ index exists because its the worlds reserve currency.
 
wallstreet1928 said:
keep an eye on 1.462 level ...........


key level for today

I just keep shorting it when get there ..........with 20 point stop!!

I will keep shorting until we break it and then I will go long
Click to expand...

another 50 pips nailed ...........phwoah, that really is some resistance!!

got a short @ 1.4625
 
lapalabra said:
GBPJPY after the BoE interest rate announcement rocketed up and needs time to get out of that range and start trending, which it just about has done now on the downside I think, along with eurjpy.

However CADJPY has been trending quietly and surely, thats my only trade for the day so far (just shame this sleep thing gets in the way and I couldn't have got an earlier entry).
Click to expand...

£Y , yes trying to look out for the end of this range (H4 & dailies , H1 bit messy). With the daily , I'm waiting so see how the PA forms on H4 as it tests the last short term low (STL) on the daily (9th) .

If it can hold around that area and run out the range high, then my next area of interest will be 155.20'ish (although will be watching around 154.10'ish for a poss early reversal), as always will be watching PA for signs that things aren't running right between my points.

If it cant hold around this area (STL 9th) then it could well test (poss break) the Int term low. Will be watching , hopefully market will be nice enough to give a hint before it buggers off and does what it's going to do, but it will probably do none of the above , just like it does most of the time 😉


EDIT :: CADY , haven't got that pair on my usual MT4 , just checked it on an old copy , that market in general looks quite well behaved.
 
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masnachu said:
£Y , yes trying to look out for the end of this range (H4 & dailies , H1 bit messy). With the daily , I'm waiting so see how the PA forms on H4 as it tests the last short term low (STL) on the daily (9th) .

If it can hold around that area and run out the range high, then my next area of interest will be 155.20'ish (although will be watching around 154.10'ish for a poss early reversal), as always will be watching PA for signs that things aren't running right between my points.

If it cant hold around this area (STL 9th) then it could well test (poss break) the Int term low. Will be watching , hopefully market will be nice enough to give a hint before it buggers off and does what it's going to do, but it will probably do none of the above , just like it does most of the time 😉
Click to expand...

Hey Mas -

Personally, I am discounting totally that low of the 8th - because the 19th was the last swing high, and a lower high than the 7th (ref: Geos signature). Therefore that STL is not really of interest as it is between the last lower low and lower high.

What matters is that we break the last swing low of the 8th @ 15135 (which price is attempting to do now) and this then gives confirmation that the reversal has taken place and the trend is down.

I would then wait for a retracement to a fib level and the ol' bias change on time frames before opening shorts.

Look on CADJPY on the 4hr. Its an easy example to give and textbook, but basically its the break below the swing lows that count for confirmation before getting involved, the pullbacks providing the entry. I've been trading that three days now in and out - very boring, very profitable. Unfortunately today @ 0400 I tried my best to get up, but didnt make the best entry - still, @ 8482 from 0600am and +54 pips I'm not complaining.

For me, it is about those swing lows as per the bias change diagram though, I've tried pre empting with low sin between and it just got me into trouble?
 
kaisen said:
Where have you found a chart for uup ws?

🙂
Click to expand...

FreeStockCharts.com - Web's Best Streaming Realtime Stock Charts - Free

It has been a tough day for the U.S. dollar but the stronger than expected consumer confidence report has helped the greenback recover. For the month of September, the preliminary release from the University of Michigan rose from 65.7 to 70.2, the largest jump since March. Over the past week, the warnings by central bankers and finance ministers about an uneven recovery has fallen on deaf ears and the latest UMich survey confirms that consumers are sharing in the optimism. Americans have become encouraged by the recent strength of equities, stabilization in house prices and the improvement in labor market. This has boosted their assessment of current conditions and the economic outlook. More optimistic consumers usually equates to more liberal spending. Retail sales for the month of August is due for release next week and there is a good chance that consumer optimism will translate into a material pickup in consumer spending.

The U.S. dollar has strengthened against all of the major currencies on the heels of the consumer confidence report. The momentum in the EUR/USD is fading rapidly and the chance for a deeper pullback is high. However as long as the EUR/USD holds above 1.44, the uptrend remains intact. Fridays always leads to erratic trading in the currency market and this is one of those days where all of the action is in the intraday volatility. The dollar is finally rising on good data but it remains to be seen whether the drivers for the currency market has really changed from risk appetite to economic fundamentals.
 
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