FTSE

hi - shotry - look at both charts - 1st at point when ftse reversed of the upper line, 2nd when ftse hit that 504/ 412 bottom line - see 2 lines at lower end - one lower TL of tri, the other a tl from previous high 6535 ....nice big bounce ping pong back into the tri from that number 412....

easy trades until it breaks down/up one way or the other...

412 big number for ftse - ftse cant go lower until a close, then 2nd closed required below 2nd 375/75 for confirmation on lower prices.. until then trending in range /consolidating - just playing what i see

if you see the number i put yesterday - ftse hit exactly 77 n reversed down to the lower range... again today hit the 65 close to my 67 and put in a lovely inside bar on 1min chart + hit upper TL tri - easy short.

then 1min chart at 405/12 area doji formed, reversed off the lower TL's backtested and held 412 - signal to go long again.

great range play today...

I actually caught some of that to the good and am currently short from the 64 area based on the descending trendline (tri). I've put a stop at 74 (tri top plus a couple of pips for the spread). Does that sound like a reasonable play at the moment?

Nice little triangle clear on the 30 min/15 and lower charts also at the moment. I'll be out soon so happy to leave that protected with the stop o/n. Will either come good or not, but it's been a good day playing it so far.

look dow 1min chart - inside bar 16:51 - then double top 17:02... until dow dont take the previous candle where inside bar formed, then it cant go higher...

828 dow goes higher, a break off 819 and stays below the dow continues to head lower...

828 -819 is key to watch....then we morph into longer time frames to assess...

Sadly I'm going to have to go, but appreciate the discussion WS. I'll leave the trade I've place as it's controlled reasonably I think. Will try to check back in later.

could work... but take into consideration that this would be in effect the 3 touch of the upper line....so technically its weakening and chances are it could break through to upside...if it does it be approx 80/90 pips higher.... it was a powerful move of that lower line nrly 70 odd pips....

watch 6444/47 on any pullback for further clues.

funnily enough it does break out to the upside, there is a pivot on ftse @ 6572 - so break out of the tri and it be close to that pivot...co-incidence ?

make sure you got stop and if you in money at least take some and move stop in to prtect your position...

imo dyr.

rgds WS