Resistances
6105 (30DMA)
6095 (200DMA)
6043 (90DMA)
Supports
6000 (barely a support but did close a nose above this)
5800
In terms of day trading, the 1-hour chart needs to go above 6000 to confirm a positive trend, as does the 30-min chart. It would be worrying if the charts didn't tell us the blindingly obvious! A drop below 5970 to confirm bearish session.
3 Jun 2008
Trading Day
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TRADE
ReplyDeleteFTSE Daily
BUY @ 5986
SELL @ 6001.8 to close
1-min chart
opened pre-market, closed quickly.
talk about this later - gotta concentrate.
TRADE
ReplyDeleteBUY @ 6010
poor price as leapt through the indicator. Short stop, just in case.
If gets to about 6040 will probably close this.
OK, may be wrong here, but as was just a 1-min signal going to take this after the second attempt at 6030.
ReplyDeleteTRADE
SELL @ 6026.5
profit = 16.5 pts
Ok, closed too quickly, although at the time had already missed one close signal. No great entry points on the upside, so waiting for it to go down. Gives me a chance to write some crap.
ReplyDeleteNow, early this morning, why was I so eager to take an up bet? Well, the last few months have seen a steady rally followed by the recent steady fall. Something the 1-hour charts show, and which the daily charts really don't, is that the trends have been slow and steady because the market has tested every support and every resistance level. Not just once, but often twice or even three times before moving on. The break down below 6045 happened just yesterday and that 90-day moving average just hasn't been tested yet as a resistance level.
Until there is a violent movement in either direction, it seems to me safe to assume that this pattern of repeatedly testing every level from both sides will continue. And, well, in spite of all the gloomy pre-market news this is exactly what is currently happening. I'm not saying it will break through 6045, and I'm not saying it will then come down again. All I'm saying is that it needed to test it.
Now sitting here sulking as I should have held out for 6040 as I said in a previous comment. Hindsight is indeed a worthless tool! Notice this would have been a perfect trade just using the 3-min chart. Has now just touched 6040.
TRADE
ReplyDeleteFTSE Daily
SELL @ 6027
3-min chart
TRADE
ReplyDeleteBUY @ 6018 to close
profit = 9 pts
waited and waited...small profit but OK.
TRADE
ReplyDeleteFTSE down>50 @ 19.5
FTSE up>50 @ 6.3
total liability = 25.8 pts
The problem with a wait and snooze policy during the middle of the day is then knowing when to pay attention. This is usually about 1.30 pm. Today we've seen from about 9.45 to just gone 11.30 absolutely nothing happened. OK, missed a 30 pt drop, but on statistical averages best to wait for clearer signals. Trading a sequence of small losses is no fun either.
Haven't been having much luck with these double bets recently but the FTSE is bang on 6000, the Dow sitting at 12500, so could be time to decide which way to jump. Has already smelt the downside at 5975 as well as the fresh air of 6040.
TRADE
ReplyDeleteFTSE UP>50
SELL @ 20.1
TRADE
FTSE DOWN
BUY @ 22.4
Well, the festive mood has evaporated!
ReplyDeleteam holding on to a combined loss of -5.7 on the down>50 bet, so will wait for that to close to see.
There are times when the binary bets have a potentially higher profit than the index trades. In this case, any drop of 20pts or more in the FTSE could yield nearly 80 pts profit.
Worth having the chart of the actual bet open, as well as the underlying index. As prices can move quickly, any reversal and I'm closing it.
Complete waste of time!
ReplyDeleteTRADE
FTSE Down
SELL @ 31.1 to close
Profit = 31.1 - 22.4 = 8.7 pts
Add -5.7 loss and am 3 whole points up!!
Assuming the D>50 bet will now end worthless.
so just +28.8 pts on the day so far.
TRADE
FTSE Down
BUY @ 21.1
OK this is speculative but Wall St seems to have run out of its knee-jerk upward motion.
TRADE
ReplyDeleteFTSE Down SELL @ 23.3
Profit = +2.2 pts
+30 pts for the day.
Just wasn't dropping, and as was speculative, got closed quickly, especially as time running out too.
Probably done for today! Will see...
TRADE
ReplyDeleteFTSE Down
BUY @ 18.9
3rd time lucky!?!
TRADE
ReplyDeleteFTSE UP>50
BUY @ 7.7
FTSE at +29 and Dow rising.
Well... was just looking at the settlement. FTSE spiked down 15 pts and the FTSE Daily closed some 40 pts up and yet the up>50 bet closed at 100. Was just seeing whether to gloat or be sorry.
ReplyDeleteSELL @ 46 pts
about 40 seconds before the end of the contract.
profit = 46 - 7.7 = 38.3
Guess will never know, but if IG made a mistake on that 100 close then they'd let you know pretty quickly. So not sure whether to gloat or not!
Oh, and another blogger server error so reposting.
FTSE Down
SELL @ 4.9
LOss = -14
So +22 in the last half hour, and +53 pts for the day.
Ended up OK but 3 useless trades was nothing to be proud of. And the gambles could have been disastrous. Walking away relieved rather than ecstatic. Still puzzled over that 100 close...
Incredibly the FTSE finished up 50.1 pts. So well done on the >50pt bet!
ReplyDeleteI had the same bet at 20 but closed at 9 when it appeared to be heading to 0. Seems to have been perfect opportunity to add to shorts on FTSE as tanking now.
Got large position in binary crude oil to finish down at 91%.
Yeah the official FTSE close was +50.1 so the up>50 bet sneaked in at 100. I just hate holding onto those down to the wire.
ReplyDeleteStill slight mystery why the FTSE Daily prices were yanked down over 10 pts bang on 4.30 but the FTSE Daily Futures didn't. Even at the official close the Daily price was only about 6045. Oh well, 54 pts blown away.