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TOPIC: Ftse bounced of trendline

Ftse bounced of trendline 06 Nov 2012 08:26 #1

diver993 OFFLINE Senior Poster everything is possible Posts: 699 Thank you received: 1138 Karma: 25	screencast.com/t/628wueK6 4 hour chart bouncing around the 61fib... go down baby
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Ftse bounced of trendline 24 Oct 2012 14:40 #2

diver993 OFFLINE Senior Poster everything is possible Posts: 699 Thank you received: 1138 Karma: 25	Yes, if we don't break back above 5823 fairly quickly I think we will be visiting the long-term trend around 5,500 in the not too distant future.
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Ftse bounced of trendline 24 Oct 2012 14:03 #3

AdeMcG NOW ONLINE Junior Boarder Posts: 191 Thank you received: 183 Karma: 6	Nice chart Diver, do you think if we fail to bounce above the 5823 level it will be forced much lower?
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Ftse bounced of trendline 24 Oct 2012 08:39 #4

diver993 OFFLINE Senior Poster everything is possible Posts: 699 Thank you received: 1138 Karma: 25	screencast.com/t/zG7uudimXk Apologies for posting the chart as a link but I still can't get to grips with posting an image from the icons above. It appears we bounced off a short-term oblique support yesterday having first brokle through a medium term support. It will be interesting to see what happens over the next few days?
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Ftse bounced of trendline 23 Oct 2012 15:56 #5

AdeMcG NOW ONLINE Junior Boarder Posts: 191 Thank you received: 183 Karma: 6	OFF a CLIFF ?? :/
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Ftse bounced of trendline 22 Oct 2012 06:47 #6

diver993 OFFLINE Senior Poster everything is possible Posts: 699 Thank you received: 1138 Karma: 25	I'm not a fan of this particular pattern but is this not a double top? (If the chart doesn't print my apologies: struggling a bit with the buttons
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Ftse bounced of trendline 18 Oct 2012 08:50 #7

remo NOW ONLINE Moderator Posts: 3137 Thank you received: 5606 Karma: 113	forgot to mention that there is resistance at 5932.. so best put the long above that level so maybe 5936. dyor remo
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Ftse bounced of trendline 18 Oct 2012 08:47 #8

remo
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dl.dropbox.com/u/4899609/ftse18thoct.jpg

This just bounced of the trend line perfectly this morning.
The first attempt rule did well on this.So would have made nice profit shorting.
If this heads towards this level again today i wont be shorting this as its already attempted that level
once today. If this breaks past that level this could really fly so that's another trade worth watching.
Theres always risks attached to trading the breakout but using stops would help you from bigger losses.
That trend line resistance is currently at the 5923 area. So i would be looking at going long past this level so maybe around 5933.