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Bell

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About Bell

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  1. you need to short this - without getting stopped out during bear market rally
  2. By the way casey great to see the Wykoff chart on the thread - good stuff.
  3. The danger always is here that you get indicator overload. I used to have loads of the stuff. As long as it alleviates indecision rather than leading to it - which a bunch pushed me towards. I realise now I was looking for the perfect trade and it was based round fear. Two good indicators that you feel comfortable with are best. I like stochs and RSI also the CCI has been useful for me. Price still the best indicator out there in my view. Support and resistance levels aid the trade.
  4. Would veer towards a pullback as you said. If it hangs around here we could get gap higher catching longs waiting for historic resistance level to break, out. As the market is bouncing it likely falls back. Feels like this is though the start of a breakout period. What is the catalyst going to be? G20, Tariffs, liquidity squeezes, Europe, Middle East. Powell saying QE is on the cards possibly also augers well. Long term Gold is looking very good and choppy as usual.
  5. @caseynotes The consolidation phase is the one that leaves a lot of investors with problems. Is it the move up or the dreaded down. Volume gives some idea. Thing is that is why we are all keen on trading the breakout. On SB you have said you don't like to trade the breakout- but the pullback. A lot of investors myself included always fear the Pullback may turn into a distribution phase. You have to have feel for the trend - which Wykoff is so strong for. Those are the fears. Some times on the longer phase it is a little more definite the signal. NB. The rectangle point which is one I strongly favour was also proposed by Nicholas Darvas. They bleed into each other but Wykoff is so good as a basis. It is seen over and over in so many charts.
  6. @caseynotes thanks mate was looking for that area. Will check through it. In terms of strategy - it is interesting people being so open. Showing our mistakes allows us to improve so people who have exposed themselves have been brave. But together with others opinions like yourself - it really does help. You can try different timeframes. I noticed you like Wykoff which tends to really suit a longer timeframe. In my mind he synthesised a variety of different ideas - it is amazing how few people these days know of him and how so many could benefit from his principles...
  7. @Caseynotes since chatting with you opened up a demo spread bet account. Done three trades so just getting to know it. The thing that concerns me is the overnight carrying charges as the process I would want to play is swing. Not too hot working on a day trade scenario. Cannot see definitive charges. Made small loss on Dax of £4. DOW £425 profit on the bounce (closed at the 200dma.- and currently £20 down on ITV as fancied seeing how the share plays work. Too be accurate only traded the Dax for a day and the Dow. More interested in the indices and commodities as from my meagre knowledge this looks a better vehicle for SB. All help much appreciated.
  8. @Foxy would hold for a move to 25400 - 25000 theoretically on spread bet play. Market oversold. Stated long term am not confident about this index. Short end is the way to play on a large position. The second time 25000 is broken will be the key play down in my opinion. That would likely take us down to 23500 -23000 zone. all the best.
  9. Could do a long Dow and short Dax hedge.
  10. @foxy You may be right. would only look at this as a small position play. Mid and Long term bearish - too much out there. Technically oversold. But below 200 dma is never good. Would be looking to put much larger position short later on.
  11. I think and pray you are right. Market feels like it needs a bounce. Mid term quite bearish. Short term do not want to be forced short till I am ready.
  12. Believe we have a crack at the long side as we are technically oversold. But we must be very cautious. Would look to trade dow for a move to the 200dma at 25400 - more than that is a bonus. Always one tweet away from the trade turning fast. Merkel's coalition toast wait for Dax to weaken and short hard. That market looks very precarious. Merkel is weak and Trump will apply more pressure... it's in his interest
  13. @Caseynotes " by all accounts is unfair". Sadiq Khan's mother thinks he is doing a terrific job as Mayor. We have to be accurate.
  14. @elle and casey thanks for the charts. The gap up looks great specially on the volume increase. Could be an impulsive wave. Believe you are on the money on this. Middle East is hotting up that is the key lever up with oil price. Otherwise think we have large up move finally over next 6 months for gold and down for oil.
  15. @Caseynotes agreed - all about the strength of the bounce. We need strong bounce above 12,200 to start to weaken downward cycle on Dax and a 25500 upward thrust on INDU. G20 will start to define the markets. I think this could be huge one - what goes off between Xi and Trump here will define matters for a quarter at least. Would look at DAX very carefully do not like what is happening in Europe. Banks stink. Manufacturing weak of course this has nothing to do with China... in Merkel's eyes. The problem with Europe was not the loose economic union... it is our insane political one... they have built a new Habsburg empire and that did not end well.
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