dmedin

Yes, I guess we should have looked at the daily chart on FTSE 100 first and noticed yesterday was a big green up day pushing past 23.6%, so it could go all the way up to 88.6% before it potentially drops again - or it could go all the way up to 100% - or it could go all the way above 100% 🤪

DAX looks okay though, see how those Fibs line up with previous highs and lows - amazing!

Looks like it will be a loss this morning! Too hasty! 🤯

Let's try a closer Fib for DAX 😮

Oops!

Slight change 🤪

Come to daddy sweetheart 😘

Even although there is a huge hammer down there, let's try a short on the FTSE 100. It's a demo account so it's fine, we can keep doing this for years to come till we get good at it.

Where would you put a stop, where would you take profit? What is the point of that laughably convoluted oscillator you have down below? I thought Williams %R was your man Friday? Maybe you just like to show everyone how superior you are

You're a really wonderful man.

You're very welcome sweetheart. Go off you go and multiply your millions. 😘

Based on the daily picture, would you only look for shorts? (Until the daily picture looks like it has turned a corner) Since 'intra-day penetrations (of support levels) are not as significant as daily closes below those support levels' 🤔🤪🧐 Those long legs tell me that there's a lot of buying pressure and the selling momentum is drying up.

Don't make daddy sad, Eileen 😢

Cling on for dear life, sweetheart.

Well Tamsin, go on sweetheart 🤓

61.8% is support, but the MACD is pointing down, so - I have no idea. Does that mean don't trade it at all? Wait until it rebuilds momentum?

It did break 28200 but then it was very strongly supported by a price level well above the next Fib down below.

Let's see if we can win three times in a row shorting the DAX. I'm already beginning to doubt it - probably didn't think about it long enough this morning.

Our Dax short 'hit the spot' and netted us £135 in profit

Something like this would be useful, thanks toots 😘

So where would we go short now? Those long-legged blighters don't look encouraging Eileen. 🤔 Ideally we'd get some kind of reversal pattern off the Fib level overhead before going in long.

What do you think, Kathleen? Looks like oil is consolidating above a 200 day SMA, so it is likely to fall down to $38 (or maybe the foreskin-tingling $36) but then it's likely to come back up to $45 and stick around that level for a while. 🤔

Oh look, trillions of dollars sloshing about seeking alpha and very little of it 'trickling down' to actual human beings. No wonder there is no inflation. You'd think somebody planned this all out or something*. https://uk.reuters.com/article/uk-health-coronavirus-britain-fca/12-million-people-in-britain-will-struggle-to-pay-bills-watchdog-says-idUKKBN2763C5 * For those who'd like to know more about it: https://www.marxists.org/archive/marx/works/download/pdf/Capital-Volume-I.pdf

Once again my mind cycles round to this idea of understanding wave structure and how Fibonacci ratios aren't useful on their own. But then I open up that book by Precther and Frost, and then I remember why I didn't go any further with EWP.

More downside to come after a brief bounce off the 76.4 🤓