Exchange Traded Funds, an alternative way to invest.

sabretoothtigger

If the ftse price channel is broken to the negative side, this is a strong signal negative right. So we now have resistance at the previous support line

ForexTV MarketVision Education - Advanced Technical Analysis - Continuation Patterns - Price Channels

Res- 4425 Long term stop loss 4445 ?

http://www.trade2win.com/boards/uk-indices/55348-wallstreet1928-analysis-live-calls-ftse-dax-s-p-aimed-help-new-traders-432.html#post771610

tradetime

The area between the 2 red lines, channel, near the top of the chart is a bull flag, price has broken down out of the flag, this would be considered bearish, price has however what looks like the primary uptrend support here, support and resistance tends to operate on a seniority level, the longer it has been established the more valid, the channel that formed the bull flag was in existence for two days, the uptrend channel is daily even multi-week, as such a failure of that channel would really have to be on a weekly close below it, though you may well choose to enter before that, with the volatility of this market who knows where we'd be in a week

sabretoothtigger

Thanks I will try and get a weekly view on things

Bull flag = red flag ?
http://www.investopedia.com/terms/r/redflag.asp



I wish I entered a sp500 short at open yesterday, it fell from around the 930 mark again. Not sure what it means when it does that like three times in a row, seems negative to me but we'll see today I guess


Suffice to say my portfolio (tracked and traded) screen is all red apart from Canadian dollar, gold and this short etf.
International markets are all still fairly correlated though I would not sell some of them anyway

I think it has to be a fairly safe hedge for me and if anything I wish there was a double short available because really its a bit capital intensive imo.
Spreadbet compares very favourably except I dont like leaving those open even though a short will actually gain 'interest' over night

Maybe if it works out I could cash in & double up the bet at some point for a (much) shorter period


I like this site, they give out what seems to be computer generated TA, american only typically:

http://stockcharts.com/def/servlet/SC.pnf?c=SPY,P





Peak following a touch over 70 on RSI and also MACD confirms. On a minute or even tick basis I would see this as a case to go short, this is hourly bars.
Only the second half of each day shown is the actual market

turbobob

FWIW I've got a short on the FTSE100 (through a CFD) at the moment. Opened it earlier in the week but was beginning to have doubts.

BTW some information on the bull flag pattern - http://www.baresearch.com/education/technical_analysis/chart_patterns/continuation/bull_flag.php and some general info on "flags" and "pennants" http://www.chartpatterns.com/flagsandpennants.htm

tradetime

Bull flag = red flag ?

Hehe, in this case one might call it a "red flag" in so much as that when a pattern fails, it can have a very sharp move in the opposite direction. Normally however a bull flag is seen as bullish, as detailed in turbobob's link, the reason they can produce gr3eat counter moves when they fail is that they essentially act a bit like a bulltrap, a proper failure will occur after price exits the flag to the upside, and then collapses back into the flag, I always consider such patterns as higher risk when they occur this late in a move.

Interesting Standard & Poors putting UK on a negative outlook suggesting a 1/3 chance of a sovereign credit downgrade, could make the future gilt sales interesting.

k8r4u

tradetime wrote: »

The area between the 2 red lines, channel, near the top of the chart is a bull flag, price has broken down out of the flag, this would be considered bearish, price has however what looks like the primary uptrend support here, support and resistance tends to operate on a seniority level, the longer it has been established the more valid, the channel that formed the bull flag was in existence for two days, the uptrend channel is daily even multi-week, as such a failure of that channel would really have to be on a weekly close below it, though you may well choose to enter before that, with the volatility of this market who knows where we'd be in a week

But what if I'm a Capricorn ?

sabretoothtigger

Then your screwed, sorry


Found a tracker for indian markets and the code seems to work with uk brokers

MULTI UNITS FRANCE LYXOR ETF INDIA(S&P CNX NI)


LNFT

Try adding a . or a .L on the end if it doesnt come up





http://www.iii.co.uk/investment/detail?code=cotn:LNFT.L&it=le

http://www.lyxoretf.com/en/quotes/details.php?code=FR0010465609__GBp

Management fees 0.85 % it could be a better bet then jii for trading

















Total volume chart for comparison

tradetime

Not sure what conclusions you are drawing form your volume chart, today was the last day leading into a long weekend, most of the volume had gone to the Hamptons. I used to like volume as an indicator, but over the last 12 months it means less to me, we go up one day on high volume, then another day on low volume, then we go down another day on high volume and perhaps another day on low volume, the consistency of volume relative to the direction, for me anyway has lost much of its predictive value, if you're finding a predictive value fair play, for now that particular technical has lost me

sabretoothtigger

I think its important to watch volume but theres no point forcing a conclusion from it. Volume is highest on turn arounds, thats still true

I was reposting that volume chart just for info, seems to show a trend of falling volume since the 930 peak and we're at nearly half volume here now. Maybe I'm reading it wrong :laugh: go with whatever works for you of course

Have you got VWAP on your chart system, this seems to be strong indicator for direction. ADVFN have it on real time only I just read

predictive value

more of a confidence indicator I think. If I was doubtful of a move direction then low volume would help confirm that for me

tradetime

sabretoothtigger wrote: »

I think its important to watch volume but theres no point forcing a conclusion from it. Volume is highest on turn arounds, thats still true

I was reposting that volume chart just for info, seems to show a trend of falling volume since the 930 peak and we're at nearly half volume here now. Maybe I'm reading it wrong :laugh: go with whatever works for you of course

Have you got VWAP on your chart system, this seems to be strong indicator for direction. ADVFN have it on real time only I just read



more of a confidence indicator I think. If I was doubtful of a move direction then low volume would help confirm that for me

No worries ST, was just curious if maybe you had an angle on volume that I wasn't seeing, I'm always interested in someone else's perspective. In the main I have felt that volume has been lighter on the rally than I would have expected, given how much money has been purported to be "on the sidelines" but as said looking at individual days, I have seen both big volume up days and big volume down days to the point that can't at the moment discern a pattern that I would be confident to call.

VWAP is not something I use, it can be plotted as an addon study to the charting package I use but I haven't tried it so I couldn't really offer any constructive commentary on its effectiveness or otherwise