31 votes
Advanced Member
Posted 03 January 2014 - 01:07 PM
Hang on a bit O...there is still more work on the downside.
Argento below , gives sound view that it is sucking in shorts - I closed my one short from this morning early a moment ago and keeping other short for an impulsive long red candle - will close it anyway today (these derivatives open on a weekend does not give me anxiety the rest it needs after week trading)
but there is that long red candle iwas looking for - going to close it now I think
The Artist
Posted 03 January 2014 - 01:04 PM
Argento below , gives sound view that it is sucking in shorts - I closed my one short from this morning early a moment ago and keeping other short for an impulsive long red candle - will close it anyway today (these derivatives open on a weekend does not give me anxiety the rest it needs after week trading)
Bears are closing in and if we close bit further down this weekly reversal candle says it all...watch down below!
Looks like the army have arrived...little too late for me! 
A
"Never never never give up!"
Sage
Posted 03 January 2014 - 12:58 PM
Bombs away!
Master
Posted 03 January 2014 - 12:58 PM
Or trapping bears to go higher and squeeze!
Argento below , gives sound view that it is sucking in shorts - I closed my one short from this morning early a moment ago and keeping other short for an impulsive long red candle - will close it anyway today (these derivatives open on a weekend does not give me anxiety the rest it needs after week trading)
but there is that long red candle iwas looking for - going to close it now I think
Edited by OceanWalz, 03 January 2014 - 12:59 PM.
Sage
Posted 03 January 2014 - 12:43 PM
Thanks - just opened the T40F's with investing .com nice with interactive chart! 41600 not resolved yet - busy hinting at down or is it sucking in Longs!
Or trapping bears to go higher and squeeze! 
Master
Posted 03 January 2014 - 12:43 PM
I am with IG, but I prefer to use Investing.com for ALSI/TOP40 trading.
Thanks - just opened the T40F's with investing .com nice with interactive chart! 41600 not resolved yet - busy hinting at down or is it sucking in Longs!
Little Master
Posted 03 January 2014 - 12:40 PM
Sage
Posted 03 January 2014 - 12:39 PM
I think I'll rather go outside and watch the grass grow. 
Sage
Posted 03 January 2014 - 12:10 PM
Thank AJS,thought you wee with IG and assumed you would use their Software. Lets see if the natural support of 41600 as you say hold or not.
I am with IG, but I prefer to use Investing.com for ALSI/TOP40 trading.
Master
Posted 03 January 2014 - 12:08 PM
I don't look at IG charts. I only trade IG40 off the Investing.com charts. Looking at my 15, 30 and 1H charts, there are all bearish MA crosses in the making (15min about to cross) and MACD broke down through 0.
This is purely from a technical viewpoint. Things like the ZAR might of course through this upside down.
*edit* Also, 41600 was the previous high, was resistance, so now it should offer natural support (or so one would assume).
Thank AJS,thought you wee with IG and assumed you would use their Software. Lets see if the natural support of 41600 as you say hold or not.
Sage
Posted 03 January 2014 - 12:00 PM
what is your reasoning - the weekly line (IG40 Cash ) is only about 30 pts down from here and bound to bring in some dip players
I don't look at IG charts. I only trade IG40 off the Investing.com charts. Looking at my 15, 30 and 1H charts, there are all bearish MA crosses in the making (15min about to cross) and MACD broke down through 0.
This is purely from a technical viewpoint. Things like the ZAR might of course through this upside down.
*edit* Also, 41600 was the previous high, was resistance, so now it should offer natural support (or so one would assume).
Edited by AJS, 03 January 2014 - 12:02 PM.
Master
Posted 03 January 2014 - 11:59 AM
Just need to see what happens around 41600. We aren't too fussed about European markets turned green though.
what is your reasoning - the weekly line (IG40 Cash ) is only about 30 pts down from here and bound to bring in some dip players
however gut tell me possibility a bounce, and a knife fall from there later today -
Edited by OceanWalz, 03 January 2014 - 12:02 PM.
Sage
Posted 03 January 2014 - 11:52 AM
This is where we're going from here...
Just need to see what happens around 41600. We aren't too fussed about European markets turned green though.
Advanced Member
Posted 03 January 2014 - 11:49 AM
This is where we're going from here...
Sage
Posted 03 January 2014 - 11:29 AM
Here we go... Lets see.
Sage
Posted 03 January 2014 - 11:07 AM
Closed to be square. Will re evaluate what we do below 41600 (previous high). Not going to cause myself pain if she wants to play a range between 41600 and back up 42k+.
*edit* Although... my hourly chart does look like more red. MAs turning down, bearish MACD cross through 0 coming up...
Edited by AJS, 03 January 2014 - 11:10 AM.
Master
Posted 03 January 2014 - 10:55 AM
Thanks man, I was looking at my short term charts and decided to stick to it and it worked luckily. Got lucky! Now monitoring the 41600 level, bounced there for now...
If we showed a down (T40F's down to 41600 then bounce this morning and then sag down) then we should surely expect same from the FTSE - at some point however it is time to go long - sorry I dont have lower targets except the immediate 41300 from a few days ago
The Artist
Posted 03 January 2014 - 10:53 AM
Argento, your call is seeing the light here with lower T40F's - care to comment ? do we go further south on Monday when the men in suits are opeining their doors and reassess using mainly on fundamentals ? or do S&P500 and us thereby too show a bounce?
and AJS congrats on the short call , I only took short today
Hi O,
Markets rarely makes a top on the 1st, what we are seeing is a retest of the previous high, she should dance around here but head north later next week...there is no negative divergence on the 5H yet.
The bigger picture weekly negative divergence remain and will cause that bigger correction after the 15th Jan, got a important cycle low in Feb so should push her down into then, after very bullish until June/July!
Stoploss for longs is at 41500 (futures), if below it was a false break, but think seasonals will keep her up!
Looks like only half of the army arrived today... 
A
"Never never never give up!"
Sage
Posted 03 January 2014 - 10:47 AM
Argento, your call is seeing the light here with lower T40F's - care to comment ? do we go further south on Monday when the men in suits are opeining their doors and reassess using mainly on fundamentals ? or do S&P500 and us thereby too show a bounce?
and AJS congrats on the short call , I only took short today
Thanks man, I was looking at my short term charts and decided to stick to it and it worked luckily. Got lucky! Now monitoring the 41600 level, bounced there for now...
Master
Posted 03 January 2014 - 10:13 AM
Argento, your call is seeing the light here with lower T40F's - care to comment ? do we go further south on Monday when the men in suits are opeining their doors and reassess using mainly on fundamentals ? or do S&P500 and us thereby too show a bounce?
and AJS congrats on the short call , I only took short today
