Editor's Pick: Markets: The week that was (16-20/11/09)

(UKX.L) FTSE 100

Summary

Current Market Information

Time: 12:38

Bid	5251.41
Ask	5251.41
Price	5251.41
Previous	5267.70
Change	-16.29 (-0.31%)
Last Trade	5251.41 (16:35:29)
Trading Vol.	0
Today's High	5309.39
Today's Low	5224.01

52 Wk Low	3460.71
52 Wk Low	(09/03/2009)
52 Wk High	5396.96
52 Wk High	(16/11/2009)
52 Wk Change	+1376.42
52 Wk Change	(+35.52%)
4 Wk Volume	0
ISIN Number
Currency	GBP

Performance Graph
3 month closing prices

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1 to 4 of 355 Messages

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Date/Time	Subject	Author
12:29	Re: GOLD	theoryman


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	Afternoon jtt, For your proposal to work, it would require a total restructuring of the waves, so I had a look. For my A to become a 4th, there is a need to get rid of the 5 wave pattern and find some correctives to join together. For my B to become a 1st, the 3 wave pattern has to become 5, probably best done by splitting the long black up segment somewhere. For my C to become a 2nd, the 5 wave pink pattern has to go and some corrective constructed. I'm not saying it's impossible but I found it incredibly difficult to achieve - probably because the original logic was still there in the back of my mind, combined with both lack of experience and talent. cheers theory More \| View thread (11) \| Respond \| Login to Vote up \| Login to Vote down
11:13	Re: GOLD	jamesthetrain


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	Hi Theory, As an alternative, could your red A be a complete 4 an your B and C be a i and ii of wave 5? I don't know much about this but think we are in the final push up of this wave, i.e just started 5 of 3, target 1190? JTT More \| View thread (11) \| Respond \| Login to Vote up \| Login to Vote down
10:48	Re: End of year FTSE predictions?	new_sparky


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	Just for a bit of fun, I'II predict 5350. I'm looking for a pullback to test the 5000 level by the start of December, followed by a Christmas rally to around 5500. The FTSE has been struggling to make Higher HIGHS 4900 (Aug), 5200 (Sep), 5300 (Oct) and 5400 (Nov). Upside target is 5500. Strong resistance 5250-5750 which I am looking to cap the upside from the Mar09 low. FTSE could get a pre-election rally with the prospect of the Tories making it in again after 12 years. Things could start getting interesting again after the election from mid Summer 2010. With all the talk of Budget contstraints Jun 2010 - Jun 2011 may mark the next leg down. The fall from 6700 to 3500 has a 61.8% retracement target of 5500. Next leg down would give a target of 2300. Daily MACD 47 showing Negative Divergance making lower Highs 125 (Sep), 75 (Oct) and 50 (Nov) - BEAR Slow STOC 73 and falling - BEAR RSI 14 day 53 and falling - BEAR BB 5000-5400 Short any break above 5400 Long any test around 5000 More \| View thread (2) \| Respond \| Login to Vote up \| Login to Vote down
10:15	Re: GOLD	theoryman


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	Taken time out this morning to have look at Gold again.This is where I think we are now. [IMG]http://i46.tinypic.com/vwwmso.png[/IMG] At the time I traded the top red channel had been respected (very minor breach). I saw the C wave as being the 1st of a 3rd of 5 and not a complete wave in its own right. I saw the possibility of a 1-2-3 M forming on Price at 1138. I thought that the subsequent black segment was still OK for 2nd of the 3rd, in fact the higher it got the better since my risk was reducing all the time - 100% retrace and it ain't a wave2, so exit! Mind you the higher it went the lower the probability that it was a wave2. It was a low risk trade with very little chance of working BUT if it did then the reward should be substantial. I saw the possibility of a 1-2-3 W forming on Price at 1144, so I wasn't wearing bear googles. I failed to notice that (1147-1133)=0.62*(1153-1130) and re-think my count and that is the part I consider to be very very poor technique - abysmal. cheers theory More \| View thread (11) \| Respond \| Login to Vote up \| Login to Vote down

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