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Regular Contributor
Posts: 181
Registered: ‎04-08-2015

FTSE chart not looking good.  A break below 6250 could see a big drop.  This is the 4 hourly chart.  If Wall Street closes down tonight I would be watching this to move down tomorrow.  Bearish on this one at the moment.

 

FTSE 100 (DFB).png

Occasional Contributor
Posts: 48
Registered: ‎04-08-2015

Nice one. We broke 6250 today and, like you, I see a large downside move after a pullback from current levels (6182) to around 6370's. I'm waiting to see if that analysis proves correct before taking the plunge

Regular Contributor
Posts: 181
Registered: ‎04-08-2015

@Welshman What is really frustrating is that I could see it happening but didnt put the trade on.  Actually ended up having to close a few trades today that went against me.  

Regular Contributor
Posts: 181
Registered: ‎04-08-2015

Things not looking good for the FTSE. If 6030 goes I would expect a drop back below 6000.

 

Screenshot_2015-11-14-12-01-08.png

Occasional Contributor
Posts: 48
Registered: ‎04-08-2015

Hi Firing squad,

well..... I'm still watching and waitingSmiley Happy currently looking at 6282 level (61.8% retrace) if we breach that I anticipate drop to below 6000. Patiently waiting for entry.......

 

what do you think?

Occasional Contributor
Posts: 48
Registered: ‎04-08-2015

Hi Firing squad,

well..... I'm still watching and waitingSmiley Happy currently looking at 6282 level (61.8% retrace) if we breach that I anticipate drop to below 6000. Patiently waiting for entry.......

 

what do you think?

Regular Contributor
Posts: 181
Registered: ‎04-08-2015

I think the rally of the last 2 days will be short lived.  Still bearish on the FTSE.

 

One to watch for now ....

Respected Contributor
Posts: 1,113
Registered: ‎10-03-2016

Trying to put in a big opening 1 hour bull bar after pulling back from the high yesterday afternoon. Large opening bars can be indicative of the morning session and may see a test of the high. The prospect of tomorrows NFP may weigh come the afternoon session.

 

Capture.PNG

 

 

*** Intraday Price Action Scalping on FX Majors ***
Highlighted
Respected Contributor
Posts: 1,113
Registered: ‎10-03-2016

FTSE trying for another big 1 hour opening bar off support at 7500.

 

0706.PNG

*** Intraday Price Action Scalping on FX Majors ***
Respected Contributor
Posts: 1,113
Registered: ‎10-03-2016

BBC Business reporting FTSE opening slide but beware, fast approaching long term support at range bottom.

 

FTSE100(£)H42306.png

 

 

*** Intraday Price Action Scalping on FX Majors ***
Respected Contributor
Posts: 1,113
Registered: ‎10-03-2016

FTSE makes a high volume plunge to break the bottom of range.

 

FTSE 100_20170629_14.59.png

*** Intraday Price Action Scalping on FX Majors ***
Respected Contributor
Posts: 1,113
Registered: ‎10-03-2016

FTSE retests support turned resistance and continues down to new low into close of day. Will be interesting to see where futures take it out of hours to start tomorrow. Next support level around 7300.

 

FTSE 100_20170629_16.27.png

 

 

*** Intraday Price Action Scalping on FX Majors ***
Respected Contributor
Posts: 1,113
Registered: ‎10-03-2016

FTSE 100 was looking to put in a big mid day reversal till got hit by an uncooperative S&P 500.

 

Both 30 min charts.

 

SPX500(£)M30.pngFTSE100(£)M30.png

 

 

*** Intraday Price Action Scalping on FX Majors ***
Respected Contributor
Posts: 1,113
Registered: ‎10-03-2016

FTSE 100 and S&P get a good bounce off the Yellen testimony (text) released 1:30 pm, presented in person 3:00 pm.

FTSE breaking to the upside from start of month range.

USD up initially, now falling to fresh lows on decreasing expectation of Sep/Dec rate hike.

 

4hr charts.

 

FTSE100(£)H4.png1207.pngSPX500(£)H4.png1207.png

 

 

*** Intraday Price Action Scalping on FX Majors ***
Tri
Occasional Contributor
Posts: 35
Registered: ‎11-12-2016
That's OK but can you actually project a target? You sound like a sports commentator who comments on the game without being able to predict the next move nor the outcome.
Of course, we all know that it won't be reasonable to demand otherwise.
Respected Contributor
Posts: 1,113
Registered: ‎10-03-2016

Quite right @Tri,  prediction is impossible, the only indicator of any real use would be one that warned us that a very large order was being executed, a kind of 'insider dealing' indicator.

So the next best thing to prediction is reaction, as we know price moves sideways until there is a buyer/seller imbalance when price moves to retest a level above or below. No one can watch all markets all the time so a friendly heads up that a certain market is moving or has reach a significant level some may find useful.

 

We have all seen predictors on forums and they are usually more often wrong than right and tend to do a lot of damage to the accounts of newbie followers who don't know to take it all with a pinch of salt.

 

I see FTSE 100 has broken down this morning to retest Friday's low and may go on to retest 7345.

 

FTSE100(£)M15.png

 

 

 

*** Intraday Price Action Scalping on FX Majors ***
Tri
Occasional Contributor
Posts: 35
Registered: ‎11-12-2016
Very well said that predictors on forums cause a lot of damage.
We are all like football fans watching a game. All excited and dissapointed at various times. At times it looks like we can identify paterns and strategy and looks like it's about to pan exactly as we expected and sometimes it does but more often it goes belly up.
The commentators are nonethewiser. They see just as much as everyone else. The difference is that that have a microphone and are paid to comment (think about the so called market analysts, lol). When was it ever that a commentator would announce from the start how many goals on each side at what time and that Team X will win the game ?
Mind you,the stock market is ever harder to predict than a football match.

Good luck to you!