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

[TZ Futures]

GBP/USD Trading Tip : 29 Oct 2009

Update 09:55 GMT
Current Level: 1.6428
Support: 1.6290
Resistance: 1.6460 and 1.6500

Our resistance level has been excellent as a selling opportunity for the past few days now. Although the resistance is being challenged more and more each day, I still believe it is a selling opportunity as long as 1.6460 is not broken, so am keeping a tight stop loss near here just in case.

 

[SabreTT]

eur/jpy fallen out of its uptrend, 30mins after ftse is also out of an uptrend so caution on short term reversal I guess

below pivot 5118

 

[wallstreet1928]

this is the last stand folks

1040 sp 500....filled the gap

5046 ftse .........filled the gap

we seem to be struggling at gap fill @ 5078 folks...be careful with long positions for now ...........
but pattern looking pretty strong so far ...........

i would be amending all long positions to b/e very quickly and be happy with 10-15-20 points for now


5078 and 5062 are levels to watch for now .......

if 5062 breaks then it gets bearish

 

[ed_inacloud]

we seem to be struggling at gap fill @ 5078 folks...be careful with long positions for now ...........

Keep bumping into the 5083 level which is 50% retrace on yesterday afternoon fall. Seems to be respecting this Fib level quite well recently..... so is there more of a fall to come?

 

[Dentalfloss]

eurodollar ..masssively oversold

long tail down
should retrace to the 50%
1.4830 approx
30 min data points

 

[Geofract]

Morning all, short E$ @ 1.47515 - SL @ 1.4768

 

[kaisen]

Morning all, short E$ @ 1.47515 - SL @ 1.4768

Could you post your analysis my friend?

 

[Geofract]

Could you post your analysis my friend?

The usual boring stuff Mr. Kaisen - using H4 for direction, and as that is down, i am selling rallies at the 50% fib level of yesterdays high and the overnight low.

There has been a breakout of the H1 TL though, and I accept this down move maybe over, but really I am just following my rules, but equally I'll be keeping a close eye on this!

 

[wallstreet1928]

Morning all, short E$ @ 1.47515 - SL @ 1.4768

welcome back geo my friend

 

[wallstreet1928]

barclays short looking good , not far from target now

but i will be buying it on the morrow for a 5-10p scalp play

closed for 10p scalp

nice trade

 

[kaisen]

The usual boring stuff Mr. Kaisen - using H4 for direction, and as that is down, i am selling rallies at the 50% fib level of yesterdays high and the overnight low.

There has been a breakout of the H1 TL though, and I accept this down move maybe over, but really I am just following my rules, but equally I'll be keeping a close eye on this!

Gotcha my friend - looks like a pretty good entry at the mo!

Was that a bias change entry and could i ask your target? Is this a 3 lot trade and if so what are your exit prices for each lot.

 

[h_a]

hello every1

 

[Geofract]

Gotcha my friend - looks like a pretty good entry at the mo!

Was that a bias change entry and could i ask your target? Is this a 3 lot trade and if so what are your exit prices for each lot.

1m bias change @ the 50% fib - super aggressive. Not 3 lots this time - I had loads of conversations about trading 3 lots and getting to zero risk with Mr. Lapster, trying to work out if it made sense. On paper it does, but not sure that is true in reality.

My 1st target is 1.4730 ish - if I was trading PN's rules, it would be the overnight low.

I realise most people say Forex volume is useless, because it's an OTC trade, but has anyone managed to make use of the volume on an MT4 platform - it could be useful, maybe?

 

[kaisen]

IG index

Has anyone had any problems with IG with placing or closing orders?

I tried to short cable just now for a quick scalp and i got some silly error message!

Some of my charts also have some data missing today.

Also if anyone has any recommendations for other spread betting companies with charting packages let me know.

 

[Geofract]

Morning all, short E$ @ 1.47515 - SL @ 1.4768

Out for +23.2

I think next time I may trade 3 lots, and close 2 with a fixed target of 20 pips ish, and then leave the rest to run, while manually trailing the stop behind M5 swings.

 

[wallstreet1928]

Has anyone had any problems with IG with placing or closing orders?

I tried to short cable just now for a quick scalp and i got some silly error message!

Some of my charts also have some data missing today.

Also if anyone has any recommendations for other spread betting companies with charting packages let me know.

yes its annoying , only solution is pro real time but its very expensive

 

[kaisen]

yes its annoying , only solution is pro real time but its very expensive

Cheers ws, have you closed you long from yesterday? I would be interested to learn your exit strategy.

Cheers

 

[SuddenDeath]

at 12.30 US advance GDP is to be released, forecast of 1.2% i think it will be 2.7% and will make markets surge higher.

 

[Geofract]

welcome back geo my friend

Thanks WS. I can't keep away from the markets after all!

Btw, I used PRT for a while, it's about 30 euros a month. There was still the occasional data problem though. I'm using Alparis MT4 platform now.

edit: I prefer PRT from an interface point of view, but MT4 has the ability to programme extra functionality, which is kinda cool.

 

[SuddenDeath]

I got something right for once.

at 12.30 US advance GDP is to be released, forecast of 1.2% i think it will be 2.7% and will make markets surge higher.

market moves higher after data release DOW moved up 40pts