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ForumTrading Forum with market discussion and live trades: Market Discussion31st January 2018

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31st January 2018

#1 · 31st January 2018, 8:19 am

Todays market discussion

Todays post here

#2 · 31st January 2018, 10:22 am

Got stopped on yesterday’s long, having another go from 7583 with stop below 7570. Usually when we get oversold on the hourly and 4 hourly there’s a decent bounce. Trend is down now though so if we do rally it’s for selling into. Can see the Fed being dovish as usual and that helping markets to bounce. Some people seem to think they will signal a more hawkish tone now Yellen has gone, but can’t see them wanting to burst the massive bubble they’ve created so they will keep inflating it until it collapses when the economy next slows down

#3 · 31st January 2018, 10:41 am

Cheers MCG. Yes this 7575 area looks key. Below this then 7450 is possible!

#4 · 31st January 2018, 11:11 am

Out at the moment, but monitoring the US for possible base, and a re-entry point. It's been quite a sharp dip after the crazy first month. I'm thinking there was a big spot of month end profit taking happened on the apple trigger. There may not be so much action today, but the reaction tomorrow should be telling.

#5 · 31st January 2018, 11:19 am

I'm monitoring MCG's, contrary calls!

#6 · 31st January 2018, 11:20 am

US is going to go into freefall soon.. looking for a failed backtest of that channel break around 2850 then down big. 5% or so only takes us back to 2700 but more than probable

#7 · 31st January 2018, 11:22 am

Quote from Mcgcapital on 31st January 2018, 11:20 am
US is going to go into freefall soon.. looking for a failed backtest of that channel break around 2850 then down big. 5% or so only takes us back to 2700 but more than probable

so sell and buy lower down? Icarus, are you still in?

#8 · 31st January 2018, 11:25 am

Quote from TCGtrading on 31st January 2018, 11:22 am
Quote from Mcgcapital on 31st January 2018, 11:20 am
US is going to go into freefall soon.. looking for a failed backtest of that channel break around 2850 then down big. 5% or so only takes us back to 2700 but more than probable
so sell and buy lower down? Icarus, are you still in?

He must have blown by now, not seen him post for a while.. was short from 21000 or something crazy looking for a 1000 point correction, so unless he had a 6000 point stop he’s gone

#9 · 31st January 2018, 11:29 am

Quote from Mcgcapital on 31st January 2018, 11:25 am
Quote from TCGtrading on 31st January 2018, 11:22 am
Quote from Mcgcapital on 31st January 2018, 11:20 am
US is going to go into freefall soon.. looking for a failed backtest of that channel break around 2850 then down big. 5% or so only takes us back to 2700 but more than probable
so sell and buy lower down? Icarus, are you still in?
He must have blown by now, not seen him post for a while.. was short from 21000 or something crazy looking for a 1000 point correction, so unless he had a 6000 point stop he’s gone

RIP Iccy. Should've just followed the dip buy club. Although they're a bit quiet recently!

#10 · 31st January 2018, 1:23 pm

Quote from Nick on 31st January 2018, 10:41 am
Cheers MCG. Yes this 7575 area looks key. Below this then 7450 is possible!

Im long 7575

#11 · 31st January 2018, 2:06 pm

Long 26210, 2831, 6960

Dip buyers have had their breakfast

#12 · 31st January 2018, 3:15 pm

Quote from Nick on 31st January 2018, 1:23 pm
Quote from Nick on 31st January 2018, 10:41 am
Cheers MCG. Yes this 7575 area looks key. Below this then 7450 is possible!
Im long 7575

Fingers crossed.. I’m losing the faith a bit here as FTSE is lagging badly. But still think the likely reaction to the fed is yields come back a bit, and dollar probably bounce a bit too.. that would be bullish for stocks. It’s just how far it can pop as we’re definitely trending down now and need to be selling into rallies

#13 · 31st January 2018, 3:41 pm

Well its just sitting on that resistance level now support from. 7 November waiting for the weak hands to fold I imagine ......

#14 · 31st January 2018, 3:48 pm

Quote from anstel on 31st January 2018, 3:41 pm
Well its just sitting on that resistance level now support from. 7 November waiting for the weak hands to fold I imagine ......

I’ve folded.. take that how you want lol. This thing is trending down so want to be short it.. if it pops on the Fed then sell it off

#15 · 31st January 2018, 4:18 pm

Hey Nick?.... I can only post a comment from my phone..... When I try to login from other devices is says Forbidden.....as I havn't used any bad language recently I presume there's a fault somewhere ? Feel like a naughty schoolboy :0)

#16 · 31st January 2018, 4:29 pm

Oh right, no idea I am afraid Anstel. Have you got cookies enabled?

#17 · 31st January 2018, 4:29 pm

Quote from Nick on 31st January 2018, 1:23 pm
Quote from Nick on 31st January 2018, 10:41 am
Cheers MCG. Yes this 7575 area looks key. Below this then 7450 is possible!
Im long 7575

Ended up taking +5 off that, but just gone long off S1 at 7552 which got a few more

#18 · 31st January 2018, 9:49 pm

Quote from Mcgcapital on 31st January 2018, 11:20 am
US is going to go into freefall soon.. looking for a failed backtest of that channel break around 2850 then down big. 5% or so only takes us back to 2700 but more than probable

Thanks for the contrary call, shorted ftse in the morning, switched long now.