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I use only 2 MAs as a filter (used the same settings long time) Had some time over and did a backtest buy sell on cross I used a trailing stop and optimized the trailing stop only and for th


Apple warns may miss quarterly guidance estimates due to virus impact starts a new pullback in the indices.

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FTSE    daily.   Bounced hard off an Andrews median line....Theory is that act as strong resistance as do 1/4 and 3/4 lines.  Most powerful signal is when an instrument gaps though over night....Its very steep as you see, but not to be underestimated as a support line.  

FTSE 100_20200226_12.41.png

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FTSE weekly.......Sorry folks we are still in a triangle.....Ftse hit the bottom support  line this morning.....Thats why ...out of nowhere it stopped dropping (Thank God) 

Being a triangle we can expect a test of the top again ....May /June ...next week ? 


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3 minutes ago, dmedin said:

I've lost as much as I've made trying to buy lows/sell highs.  This is so dumb :D

why you trying to guess the highs and lows? Price has spent the whole day travelling between levels, all these levels (except the new H1 support green 12366) have been on the chart since early this morning (check postings above) 👀


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1 hour ago, trade247 said:

so whats the direction you think on this @cheviot ? and same to be applied to Wall St?

FTSE and DJ are not really on the same page...FTSE trapped in this triangle of 18 months duration...Bid to the roof when its up , and looks like **** when its on its toosh ....Typical triangle ....Basically the market wants to follow , but does nt know where to go as there is fundamental conflict.  I think with FTSE , it is heavy weight miners and oil, retailers and banks....and with £ and Brexit , it has nt got the follow through to break out , as there is no real spark. 

Wall St is different....They do nt have as many head winds, and they have a very accommodating Fed....They ve had tax cuts galore and V importantly there has been alot of corporate buy backs.....Also Heavy tech industry...FANG has done really well....we do nt have that in FTSE....So we wo nt follow until there is a few more things clear.    L T I think Ftse/UK could pick up really well...while US goes through election etc.  

I m a buyer of Wall street, here but only to carry/sell.....later,  I think tummy says that its over done....a bit of choice buying....but be prepared to dump it ....quick.  

We ll probably try th e upside in a week as every body talks CV2019 down....But ....watch the TBond.....If it can get through 1.8 % yield , stocks will drop very quickly...  

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T Bond getting bought up again....200.00 base  203.25  on th e long bond...Equity rally may fade as bond sellers are running out of steam at 200. 

Watch the T Bond even if you do nt trade it...It ll warn you of what INDX s are going to do next....   203.25 equates to 1.8% yield, so far its never broken it in 50 years...If it does...INDXs will get slammed again....

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5 hours ago, cheviot said:

Is that your upside buy signal ...or do you sell there ?  

I d say that was a retrace you sell at ??  

No, not buy signal. 28400 is my estimation for deciding up or down for the medium term.

I day trade so care more about daily direction. As of close tonight, it looks so far away from that level.🤔

Let's see what the overnight reaction has in store for us and hopefully we all make some more money tomorrow.

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707222909_US500_20200227_07_25.png.022890d38af3e5ea06f1d38f1c411b86.pngReasons to be cheerful 'Part two'....as the late great Ian Dury would say: 

Dow J  Sp and oil all hit long term wash out targets.   DAily RSI s are all in bounce territory.  

DJ hit and is bouncing off  78.2% correction of the uptrend

SP hit 61.8%  correction of up trend

Oil hit long term support line at $47.70 and is the bottom of Wave B of a complex wave correction  

TB has not broken 203.25 on Futures and 1.8%  

FTSE   bouncing off bottom of triangle and geometric support of 2 median lines.  


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GRAPHIC – China's top container ports unclog backlog as virus curbs ease


BEIJING, Feb 27 (Reuters) – China's top container ports are loosening the backlog of cargoes on their docks as workers return to their posts after coronavirus travel curbs that kept them away and jammed up global supply chains have been eased.

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11 minutes ago, Bopperz said:

Chucked in the towel around 3PM yesterday, unwound my FTSE short as the market kept pushing upwards through 7000. I check the charts this morning and everything sold at 4:30PM!

So annoying! 🥵


It's better to 'zoom out' and take daily and four-hourly readings at times like these, if you're dealing in short time frames in such a hectic time of upheaval you will just get sh@fted over and over again.

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