dl.dropboxusercontent.com/u/7238706/BARCLAYS.png

It's amazing, or maybe not, that support and fib%'s coincide so beautifully - at 249 for 100% extension, and 232 for 161.8% extension. Let's see what happens.....

Hi WR2,

what I should have said is that I see this as a short term opportunity, possibly the next few days only as I expect broad markets to retrace within the next week or so.

Agree that 198 is certainly possible during this expected retrace but we might have to wait until the new year for it to go that low. I have 220 as potential support in between, which would be my initial swing low choice.

F4T

I have got a very bearish 198 target for Barc as it stands today. There was a long term range being played out and it seems to have broken out to the downside. The longer the range plays out - the more the powerful the breakout is.

dl.dropboxusercontent.com/u/4385922/BARC0211.png

The last few days candles have not been that encouraging so maybe wait and see if the pattern fails.

Barclays looks good for a bounce. Three day drop to the downside with gaps. A gap down tomorrow and we have a potential bullish three gaps down formation to look out for. There are bullish divergences on RSI and MACD on both daily and hourly with a touch to RSI support imminent on both.

Historically 253 has been a good area of support/resistance but 255 close is also a support area. Looks promising for a bounce to 265 minimum IMO.

uk.advfn.com/p.php?pid=chartscreenshotsh...%2Fo4ftOvodw7t0Qg%3D

uk.advfn.com/p.php?pid=chartscreenshotsh...lvA6ZIF15mXQOowzS1k=

Some caution required as trendlines broken on both timeframes.

I have a falling wedge with support currently in the 264 area. Below that is good horizontal support at 260 and 255.70.

The break of the 61.8% fib would suggest a return to 261 at minimum, so 260 could be a good play.

uk.advfn.com/p.php?pid=chartscreenshotsh.../2gg=&symbol=A%5EAPT

Results out on Wednesday

Barclays Daily Chart...few thing here...





dl.dropboxusercontent.com/u/40497882/Barc%20Daily.JPG

Jackozy,

Sorry to be so long in getting back to you: been manic at work this week. Blimey! The variations are enormous! I pull my 'dailies' off the 'free, end of day' versions supplied thru PRT and have found them to be fairly reliable - one does get the odd anomaly, like Sage the other day, but, in general they do compare well to the quality softwares. The recent high on my chart is 312.41 with the low at 249.18: very similar to the figure Remo was mentioning.

Gotta dash again now but I would appreciate it if you'd let me know the outcome....

Diver

There was a rights issue a week or so back. Some charts reflect this by adjusting historical SP, others don't. Not sure what the correct procedure is.

hi jackozy
check your settings on your chart.
It seems too far apart . There maybe some setting issue.

Hi harumpf,

My chart was from the paid for version of PRT through IG...it's miles out!

Jackozy,

I use PRT where I pay a fee for the software and data. Also use (well, have compared this to) the IG PRT software and data that is refunded at £30/month and the two are very different. The free IG is poor at best in comparison to the paid for version. The paid version is not perfect, it still has the odd errors here and there, but in the main part the data is far more closely matched to the levels I see from Remo.

Thanks for that remo. Much appreciated.

You say that my chart contains some errors, well, comparing it to yours, it's not even close. It's waaaaay out. That's rather worrying.

FYI, this chart came from the PRT package from IGMarkets - the ones that you pay £30 per month for and get refunded if you place more that 4 trades in that month.

That's very dodgy (IMHO) to be providing erroneous charts for people to trade from. This is exactly why I moved away from cheapo charts in the first place.

Hi jackozy
For me there are a few possibility with barc. This is in a trading range from 250-312 and im planning on going long at 250 area on a first attempt basis.

This area is important as a break of this area and it gives a sell signal and the head and shoulders comes into play. So my long entry at 250 will have a tight stop attached to this. If 250 does break then this will find support at 234 which is strong support.This level goes back a long way,as far back as 2008


1. So keep an eye out for the head and shoulders formation.
2. Keep an eye out for the trading range


for me sideways shares should be avoided unless the price comes to a significant level(bottom of range or top of range). any where else has to much risk attached.

Your chart looks to have errors in so id be extra careful. Obviously it would be nice if someone with updata could verify. Just look at where jackozy chart has a breakout of the head and shoulder formation.
hope my chart is clear

Thanks Diver. I think we have some serious data discrepancies between our charts though so not sure which to believe.

Remo: any view on this?

TIA

dl.dropboxusercontent.com/u/7238706/BARCLAYS.png

Jacko, this is just a possible, in which case 261, or thereabouts, will be significant.

Diver

Anyone got a view on BARC? It's approaching an area of support from a previous significant price high at 259.95p and there's also a gap support at 262p so a possible long at 262 with stop below 259.95p. Balanced against that is the possible H&S breakdown giving a possible short entry on a backtest of that neckline at c. 273p. Here's the chart - could be a good deabte on trading strategies on this one:



dl.dropboxusercontent.com/u/20815047/FTS...ARCdaily23_09_13.png

good call. Maybe worth a long now, looks like some support in this area.

Gap is about to close here. Might be a good place to short

(I moved this post and added a few lines to the narrative)

uk.advfn.com/p.php?pid=chartscreenshotsh...MBw=&symbol=L%5EBARC

Some potential for a nice trade here. Upside gap between ~299 and 303 and downside support at 269.75.

In between we have a trendline break and backtest yesterday indicating further downside supported by bearish MACD divergence.

RSI support not reached, which IMO will determine extent of downside.

So to recap, potential trade of 30 pips between 271 and 300 or 11% without being greedy. This is Barc so the gap will certainly close.

Please be aware of the RI in September which will no doubt throw a few wobbles, plus price action this year is showing a triple top (or H&S if you are picky). The latter would give a neckline at my suggested buy point, so be careful - it is easier to see on a weekly chart.