Member Info for Hottentot

Morning All ---- well, a bruising start on the Indicies again today ----it would seem that Greece still has a lot to answer for !!---- A few small longs for me on the Dax just to keep the bank balance rolling --- GLA. ------

Shaan_7 ----Nice trade for you on the Dow , well done -- Yes the wedge broke south --i don't trade the Dax after normal hours very much as it is influenced by the Dow too much , as we have just seen !!--- Still , nice to see i got my analysis correct (lol) --- GL.

Shaan_7 ----- Analysis on the DOW from this mornings FX-Empire .com The Dow Jones 30 fell initially during the course of the week, but found enough support near the 17,700 level to bounce and form a nice-looking hammer. We are pressing up against the resistance, so now we need to see whether or not we can break above the 18,200 level in order to continue the longer-term uptrend. We do think it happen sooner or later, and look at short-term pullbacks as potential buying opportunities also. Either way, we are long of this market, and have no interest in selling. The Dow Jones 30 broke higher during the course of the session on Friday, slamming into the 18,200 level. With that, it appears of the market is ready to continue going higher, but we need to close above the 18,200 level on a daily close in order to start buying. Pullbacks should be opportunities to buy this market as it continues to show strength overall. We closed towards the top of the range for the session on Friday, which of course signifies that we should see continuation anyway. Nonetheless, we have no interest whatsoever in selling.----- GL.

Shaan_7 ---looks to be a good trade on the Dow for you atm ---- Dax 1 minute forming a decreasing wedge pattern ----large move either way is on the cards soon --- which way is the question !!-- GL ---

Wild swings on the Dax of around 50-70 pts.-- all to do with the DOW's movement atm--- GLA.---

Plenty of Dax action (lol) ---1 minute reversal and reversal again ----i'm getting dizzy !!!-- Which way up am i atm (lol) ------ GLA.------

Thanks Shaan_7 , will look at that in a mo. -----1 minute Dax did indeed reverse as i posted -----needs to stay above 11660 now .--- GL.

Dax 1 minute trend reversal looks imminent--- trying to close above 11660 as i post ----that would signal a reversal confirmation for now.--- GLA-----

Shaan_7 ------- would be interested to know what other indicator combination you are you are using . GL.

Oops --1 minute not i minute (lol)--- GLA.

Good Morning All ----Dax 4 hourly Reversal off 11733---Bias is down now (JMVHO)---am still scalping the 1 minute rsi but as mentioned the bias even on the i minute atm is down --- GLA.

Shaan_7 ---- Yes, well done ----Dax was hovering in a small channel between 11480 and 11505 ---a break of that around 13.30 pm was the trade -- I took the opp. to follow up short off the top of the spike @ 11590 --- GL---- a good days trading ---

Shaan_7 ----Good Morning ---- Election turned out to be a bit of a damp squid /anti climax at the end of the day !!--- Certainly not the result i was expecting at all ----a majority for the tories isn't necessarily the best thing for the country in my opinion , but there you are , that's what we have ---so have to work with it for now !!--- The Dax 4 hourly bottom channel line gave a figure of around 11180/11200 , which also was the 4 hourly RSI oversold level ( nice when that happens)---- The Dax 1 minute RSI also went oversold at that level --- Remember i posted before about watching both the 4 hourly and the i minute -- So i went long at 11180 --the bottom was actually 11166 ,i think --- I felt that this time i could let the trade run rather than scalping several times on the rise --- it worked in my favour --- GL.

Afternoon All -----been long the Dax from this mornings low @ 11180 --had a 200 pt. target which has just been filled / closed ----lovely jubly (lol) --- GLA.

Evening Everyone --- Hope the golf went well FP and wasn't a " wash -out" --- Yes, the Dax giving plenty of scalping/trading opps today ----- Had a bit of a "fat-finger " scare this afternoon !!--- meant to place a trade for £50.00 /Pt. and to my horror entered £500.00 /pt . --i was immediately £1000.00 down as it moved a pt. against me !!! Rung Finspreads straight away and they aggreed to close me out for level trade ( sweaty bum time for a few minutes ) ---told me if the trade had been closed by me then it would have had to stand !!!--- lesson to be learned there , i suspect . Markets very nervous all round !!-- GLA -----( Shaan , no Bugatti yet ----but a nice dream never-the-less lol) --

Evening All :---- Well another bruising day on the markets all thanks to bad economic data out of the good old US of A . !!---- Shaan_7 ---hope you did well out of the Dax drop this afternoon ? ----short for me on the eventual break below 11600 gave me a good afternoons trading !! Dax 4 hourly now amazingly approaching RSI oversold but could quite easily drop another 300pts. to 11000 !!--went down as low as RSI 17 in mid april ?? Needs to head back up and attempt to re-gain 11600, as that is now first res. --11800 after that ----- What a difference a day makes (lol) ---- GLA.

Shaan_7 :---- below is an extract from this morning's FX-Empire .com analysis of todays Dax outlook , just to confirm it's not just my idea (lol)--- Technical Reports Get Forex buy/sell signals directly to your email and by SMS. To learn more click here The DAX went higher during the session on Monday, showing that we still see a significant amount of support just below. Ultimately, we think there is plenty of support to continue to pushes market higher, but we need to get above the 11,800 level in order to feel comfortable going long. With this, we feel that the market should continue to go towards the €12,400 level. If we can break above there, the market should continue to go much higher given enough chance, and as a result we are only a buyers. We don’t even have a scenario in which we want to sell.----- GL.

Shaan_7 :---- Good Morning ---the 4 hourly RSI / Trendline when used together are the indicators widely used by traders to signify major reversals , i think FP used to use the 4 hourly a lot before i started using it !!--- I use the 1 minute or 2 minute RSI oversold/overbought within the 4 hourly trendline ( not really to tie them together, perhaps, but more to give me the general direction if i do get the 1/2 minute trade slightly wrong !!--) The Dax has a pattern atm starting normally just before 7am, of a small rise, a dip and then a larger rise which is very tradeable -- The Dax 4 hourly is a falling trendline atm from the 12400 high but rising within the RSI indicator to next touch @ around 11800 which should put it around RSI 70+ ( overbought) --- If it breaks and holds above 11800 then the 4 hourly trendline will have been reversed and it should head back up to 12400 and beyond in due course !!--- So watch the 4 hourly trendline for the break but trade the 1 or 2 minute RSI in the mean time ----- I caught a lovely 150+ pt. rise this morning ---not sticking to just 20 pt. rises if the trend is strong one way or the other --- GL.

Evening All ------With no Dax i have switched to the Dow for the day ----two good spikes up around 18000 shorted and a couple of longs off their tails have kept me in the money and very busy today !!-- Yes, Shaan_7 , candlesticks are a useful tool if used properly --- simple hammers and shooting stars etc etc , ---- GLA.

Afternoon Guys ------ Dax volatility making it pretty straight forward atm to trade the 1 minute RSI oversold/overbought ------keeping an eye on the 4 hourly chart trendline as well just to tie them both together !!-- Still sticking to 20 point runs atm for £10/pt. altho' today gave me three +80 runs !!---- Not a fan of MACD either --- it's a lagging indicator but can be useful tho' if you plot and overlay several macd combinations.--- Took profits on my TSCO short and have gone long ITV @ 250p -- Markets all have the jitters for various reasons ---interesting times. GLA.