Jump to content
Sign in to follow this  

Ftse

Recommended Posts

So we may as well continue our trials with the Ftse, I've kept away from this and gbpusd for a long time since the brexit made them very difficult to read but never the less I need another live market to play on. 

To recap we are looking to the first hour of market open to try to identify the session high or low, from there we are using the 14 daily average of the average true range to set a target for the day. So it's a bit like the London Breakout Strategy but we are not looking identify the breakout but rather looking to identify it's base. The easiest way to keep score is to let IG do the leg work by simply placing a long call or put on demo.

Ftse;

LT bull, MT neutral, ST bear/neutral. ATR is currently 52 points.

So looking at the chart and rather annoyingly ftse seems to be already taking off to the upside, before the eur open even, but we'll stick to the rules that I'm making up as I go along for er ... reasons.

Currently we are looking at a session low of 7338 which is the value area low and a ATR target which coincides with R1.

image.thumb.png.8b19041f5664cd9a8b28eabdf5f2f55b.png

Share this post


Link to post

An hour into the London session and Ftse is already at the proposed target set this morning so I may have to re-think my 'rules', any suggestions?  The reason for the 1 hour wait was that I've seen stats (somewhere, long ago, probably made up) that the session low or high is in within the first hour after open some 75% of the time. 

The base did look sound and the chart was short term very bullish well before the Eur open so perhaps should have just pulled the trigger on the off in such a situation.

image.thumb.png.1ceefe530316d86113aaf560f2f930b6.png

 

Share this post


Link to post

Ftse has continued on up past yesterday's high to stall just below R2 while it waits for the NFP data.

image.thumb.png.e5483c35301289a240865f7d93a918a5.png

Share this post


Link to post

Left Ftse out today being a UK bank holiday but has performed much as Dax.

image.thumb.png.2e7c9ec2a47896d68450bf78929848d0.png

Share this post


Link to post
2 hours ago, Caseynotes said:

Ftse looking to break up through 7369.

image.thumb.png.688eeee08788ac99dbdb95e30fa426bc.png

Looks like we may test yesterdays lows. Take a look at the DAX30.ger30-m5-ig-group-limited-2.png

Share this post


Link to post
5 minutes ago, FOXY said:

Ftse looking to break up through 7369.

Yes, Ftse trying to follow Dax which is trying to push down through the large bear candle bottom put in at 9:30 yesterday evening but Dow not bothered at the mo and currently has support at today's point of control (red dash).

It's setting up similar to yesterday which saw dax and ftse turn around and follow dow up after the US open.

image.thumb.png.3e33e4841b03f08586d8654d83c359a5.png

Share this post


Link to post
3 hours ago, elle said:

#FTSE 100     a little lower maybe

Capture ffttssee.PNG

@elle

eyes to 7245 with a bit of luck. hope you are short.ftse100-m5-ig-group-limited.png

Share this post


Link to post

No real clue as to direction, Dow giving nothing away, Dax went to tag the pivo then stalled and Ftse has looked both ways and returned to the middle.

image.thumb.png.d442f8e7f8b61d9e4643517306c5a749.png

Share this post


Link to post

Ftse remains more subdued, currently at the pivot 7235 waiting to break either way. R1 is 7281 and S1 is 7200.

image.thumb.png.218ca85642f306335bfba1dfb749806b.png

Share this post


Link to post

Ftse in a similar place as dax and dow, looks set for an attempt on R1 at 7212 with tested support below at 7134.

image.thumb.png.ed1aaf69da44e34a6c18166756af76c1.png

Share this post


Link to post

Should have been looking at ftse instead of willing dax on the break resistance which it finally did at about 4 pm. Nice uneventful run up through the pivot and R1 and stalling just short of R2.

image.thumb.png.a9e70e744cf8ef3eebe829435f7ee152.png

Share this post


Link to post

Ftse already making a move before the Euro open testing ST resistance at yesterday's high, once cleared the first target is the daily chart resistance level at 7284.

M30 chart;

image.thumb.png.cd754499db2eac36318d7e2c95fa6e84.png

Share this post


Link to post

Ftse held firm in the early part of the day and was carried up at the 3pm Trump tariff announcement. An interesting gap down on the close which has since nearly filled.

image.thumb.png.4838d7bcdc3d7a4a589452dd7d164fb2.png

Share this post


Link to post

Unlike the other indices ftse stayed on the underside of the pivot but otherwise similar chart structure.

image.thumb.png.efa30e3a521be41243a09849cfaecec0.png

Share this post


Link to post

Ftse similar to dow and resting on the pivot looking to bounce up.

M30 chart;

image.thumb.png.7f4d44d10c946a45c43a00fcfd93a2bb.png

Share this post


Link to post

Ftse is above the daily pivot 7339 reaching for R1 at 7370, S1 is at 7321.

image.thumb.png.979a3b829f39f8a6a060455a1a07947a.png

Share this post


Link to post

Ftse tags R1 ahead of dax and dow on the back of a declining gbpusd.

image.thumb.png.0f4401db1efdcaaf18c3326e4c1c7d1c.png

Edited by Caseynotes

Share this post


Link to post

Looks to be setting up for a retest of resistance at 7358 after a bounce up off the pivot.

image.thumb.png.651b51f8668f47095cef9fa3e519523e.png

Share this post


Link to post

Similar situation to dow and dax, again not checking the pivot but homing in on S1 where it waits for market open, more substantial support below at 7267.

image.thumb.png.2b9cc129aa025e248265463795a9e540.png

Share this post


Link to post

Ftse trying to get above the broken daily chart support level (orange) like dax, needs dow to break up above support turned resistance at 25214 to go higher. 

image.thumb.png.c5fa9c6e06141eeaca14d8eb75608ca7.png

Share this post


Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Member Statistics

    • Total Topics
      12,814
    • Total Posts
      65,788
    • Total Members
      86,776
    Newest Member
    TonyJB
    Joined 28/10/20 16:20
  • Posts

    • Start the conversation The US election is scheduled for Tuesday 3 November 2020, when all 50 states and Washington DC will cast their votes. The vote spans six different time zones, so the first exit polls will be available at around 11pm (EST) when West Coast voting closes. In the UK, that will be around 4am (GMT) on Wednesday 4 November 2020. The election is likely to create opportunities for traders, with price movements expected across a range of forex pairs, indices and commodities in the run-up to polling day. Volatility related to the election could continue until congress certifies the result on Wednesday 6 January 2021, or even until the winner is inaugurated on Wednesday 20 January 2021. What should traders expect to see during the US election? All US markets tend to experience increased volatility in the run up to a presidential election, including USD forex pairs, indices and commodities. That’s because many investors will attempt to lock in positions before the result is announced – using polls to gauge public sentiment. The aim is to take full advantage of the price moves that occur when the country’s political direction is confirmed. At the top level, early indications suggest that the following could be on the cards if one of these two main candidates win: Donald Trump A Trump win could see an escalation of the trade war, potentially causing problems for some US exporters and having a negative impact on the value of the dollar. However, this effect could be offset by reassurances that tax cuts and deregulation will continue – boosting the US economy. Joe Biden A Biden win could see tensions in the trade war cool, providing a boost to US exporters and the dollar. However, these effects could be offset by tax increases for high-income households, and more limited deregulation.   How will markets react to the different candidates? Market commentary by IG Senior Market Analyst Joshua Mahony Stocks Markets hate uncertainty, and historically the perception has been that a new president might bring policies that could be harmful for stocks. This happened in 2016 when analysts were confident that a Trump presidency would spark a market collapse. But, we are now seeing that same fear creep in as people consider a Biden presidency and the potential uncertainty it could cause. Biden is openly more left-leaning, and his policies are expected to be geared towards human needs rather than those of investors and traders. This sentiment isn’t helped by suggestions that Biden would reverse Trump’s tax cuts, and it is likely that markets will rise alongside the potentially increased chance of a Trump victory as we approach the election. USD The value of a currency is supposed to reflect the health of an economy and its future prospects. Many are expecting Biden to be less focused on the markets than his Republican opponent, so the dollar could weaken in the event of a Biden victory. However, this effect could be offset if Biden is able to improve relations between the US and China after years of market anxiety. In this scenario, it would be the Chinese yuan which may benefit the most, with the trade war having sparked huge upside for USD/CNH. Keep in mind that if the wider markets fall on a Biden victory – including US stocks and indices – the dollar would likely rally in the short-term to reflect a risk-off move as investors turn to USD. Gold The prospect of a more expansive fiscal policy under Biden, and from a government which is happy to embark on substantial spending programmes, could provide a boost to precious metals. There’s a caveat here too, because in the past precious metals have also followed the same patterns as the stock markets during times of crisis. So, any collapse in equity markets that may come from a change at the White House could drag gold lower in the immediate period. Plus, while Trump has finally seen the kind of stimulus he would have hoped for, a Biden win could result in a more substantial stimulus package if the Democrats gain a foothold in Congress.   How are you trading?
    • Dax has been volatile today. Down 600, Dax down 4% on COVID fears. US open in 10 minutes. 
    • Hi, Can you please advise when is the last day to buy more TILS before settlement takes place? HL platform confirmed it is 30th October, can you please confirm the same? Thanks
×
×