Jump to content

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

Link to comment

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

 

Link to comment
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

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      20,699
    • Total Posts
      89,585
    • Total Members
      40,563
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    Doug
    Joined 28/11/22 07:17
  • Posts

    • Analog Devices Inc., Elliott Wave Technical Analysis Analog Devices Inc., (ADI:NASDAQ): Daily Chart, November 28 2022,  ADI Stock Market Analysis: We are anticipating a potential top in place while we were stilllooking for short term trades into wave {v}. At this point it looks like we might have topped and areready to resume lower. ADI Elliott Wave Count: Wave {a} of 2. ADI Technical Indicators:Above all averages. ADI Trading Strategy:Looking for further developments into wave 2 to then place long termlongs. TradingLounge Analyst: Alessio Barretta Source : Tradinglounge.com get trial here!       Analog Devices Inc., ADI: 4-hour Chart, November 28 2022 Analog Devices Inc., Elliott Wave Technical Analysis ADI Stock Market Analysis: As the RSI also suggests we may have topped in wave {v} as we’vehad divergence between the top of {v} and {iii}. Looking for further downside. ADI Elliott Wave count: Wave i of {a}. ADI Technical Indicators: Above all averages, while 100 and 200EMAs are crossing. ADI Trading Strategy:If volatility rises we could look for short term shorts.
    • As a result of the precipitous drop in crypto prices, fewer people are willing to trade in high-risk digital coins. Since the beginning of 2018, Coinbase's MTU has been cut by 20%. Investors are curious about whether users continued to move away from the platform despite the slowdown in the downtrend towards the end of Q2 since any rebound could be seen as an early sign of recovery. The earnings report for the second quarter shows that the company's net revenue dropped 35% from Q1 levels, primarily due to a precipitous drop in retail transaction revenue. Anyway, to distress from all the crypto stuff, you can just bet on the World Cup and check on odds brasil copa do mundo.
    • Elliott Wave Analysis TradingLounge Daily Chart, 28 November 2022,   Dogecoin (DOGEUSD) DOGEUSD Elliott Wave Technical Analysis   Function: Counter trend   Mode: Corrective   Structure: Zigzag Position: Wave B Direction Next higher Degrees: wave (Y) of Double Corrective Details: Wave B retraces in a zigzag pattern at the end, and prices will drop again in wave C. Wave Cancel invalid Level: 0.1581   Dogecoin (DOGEUSD) Trading Strategy: The structure in the larger image is reduced with a double corrective pattern in the lower (Y) wave, but because the internal sub-wave of the wave is not yet complete. Overall, there is a chance that the rate will continue to decrease.   Dogecoin (DOGEUSD) Technical Indicators: The price is above the MA200 MA50, indicating an uptrend. The Wave oscillator below Zero-Line Momentum is bearish       TradingLounge Analyst: Kittiampon Somboonsod   Source : Tradinglounge.com get trial here!           Elliott Wave Analysis TradingLounge 4H Chart, 28 November 2022, Dogecoin (DOGEUSD) DOGEUSD Elliott Wave Technical Analysis   Function: Counter trend   Mode: Corrective   Structure: Zigzag Position: Wave B Direction Next higher Degrees: wave (Y) of Double Corrective Details: Wave B retraces in a zigzag pattern at the end, and prices will drop again in wave C. Wave Cancel invalid Level: 0.1581   Dogecoin (DOGEUSD) Trading Strategy: The structure in the larger image is reduced with a double corrective pattern in the lower (Y) wave, but because the internal sub-wave of the wave is not yet complete. Overall, there is a chance that the rate will continue to decrease.   Dogecoin (DOGEUSD) Technical Indicators: The price is above the MA200 MA50, indicating an uptrend. The Wave oscillator above Zero-Line Momentum is bullish.
×
×
  • Create New...