Alternative Technical Templates.

[tonymand]

So far so good. Not surprising though that this is a struggle as the GU is range bound and if anything looking like its going to move up. Hence the pound is showing some strength and in retrospect the EY might have been better for this trade (short at 160.91). The next hurdle is marked and is in the round number area of 223 - 223.50. My stop is still at break even although you could easily use the trendline for trade management. If the GU starts to fall I will stick with this but in the event it breaks long I will look to exit this early. Europe is now open so this will be interesting to see which way we go as will the London open in 45mins. House prices are also due out then which also needs careful monitoring. As always trades in real time are much more difficult than after the fact!

[tonymand]

Higher prices above the trendline still being rejected but definite upward action on GU. Getting ready to exit on any concerted upward push. EY has also turned up

[tonymand]

Exit on new high and wait to see whether 224.50 holds for another short although the divergence evident on the GU may make staying out the best option until things become clearer. Still money in the bank is never a bad thing!

[tonymand]

Much clearer signal here on EY than GY for an excellent short opportunity

[tonymand]

All out now on this

[blackdog]

Hi tonymand
You mentioned before about the H4 and H1 S/R lines.
How long do you stick with these major support lines before you
decide to redraw and start again.

[tonymand]

Originally Posted by blackdog

Hi tonymand
You mentioned before about the H4 and H1 S/R lines.
How long do you stick with these major support lines before you
decide to redraw and start again.

The 4H are usually there for months, perhaps a little less for the 1H. Obviously the longer timeframe are more important

[blackdog]

Hi tonymand
thank you for your thoughts on the H4 H1 S/R
I have benefitted from your clear posts
now I am after your thoughts again

After 4 months of demo trading I am thinking of dipping my toe in the water with £2000 using a 2% management of capital on the 5 min frame using a mixture of 3 ducks S/R IB and Fibs. I am using North finance platform for chart analysis but undecided on the broker ie oanda mini seems to be spoken of quite highly on forums.or go with
somebody like IG finance spread bet for tax free purposes.
Any thoughts on this first step.

[tonymand]

Originally Posted by blackdog

Hi tonymand
thank you for your thoughts on the H4 H1 S/R
I have benefitted from your clear posts
now I am after your thoughts again

After 4 months of demo trading I am thinking of dipping my toe in the water with £2000 using a 2% management of capital on the 5 min frame using a mixture of 3 ducks S/R IB and Fibs. I am using North finance platform for chart analysis but undecided on the broker ie oanda mini seems to be spoken of quite highly on forums.or go with
somebody like IG finance spread bet for tax free purposes.
Any thoughts on this first step.

I expect its fair to say that tax will not be a big issue for you initially although hopefully will become important as your profits grow! Oanda is a good platform except for their dramatic widening of spreads at news time which can catch you unawares

[tonymand]

Not much activity on this thread these days, maybe everyone is too busy catching the downhill run of the GU! Reposting Tess' chart (post 170, 19/10/07) which shows the relevance of the current levels and my version of the same area