rather than pick out individual stocks to trade, it can often be worthwhile to trade the indices themselves, especially in times of high volatility.

for those so inclined, i attach below charts for FTSE and FTSE 250, though one might equally be tempted to trade Dow or S&P, which is significantly broader in its coverage, or even NASDAQ

for ease of reading, i have attached 1 year and 3 month charts in each instance

Was only a small bet, trying my luck, sometimes you win, sometimes you lose..!

If it's any consolation I would've thought that, when the FTSE does eventually find some decent support and turn up, you'll probably get a decent leg out of it on the long side.

I'm no Elliott Wave theorist, but I get my underlying trade direction from the 1-hour charts and I can't help but notice that we seem to currently be in the 5th wave of a sequence which started back on 25th Feb about 300 points ago. The wave pattern is very clear if you match it up against individual Schaff cycles on the hourly chart. The current wave itself has lasted since 6th March and has so far been good for 250 pips in itself.

At the back end of January there was an individual wave/cycle lasting 7 days, but waves lasting that long are few and tend to be far between, so it's unlikely the current wave will last too much longer imo. Even so, I'd personally continue to trade it short until it has actually turned up. People who spend their time picking bottoms shouldn't be surprised if they get shit on their fingers!

HILARY you are crude.......... lol

Here's what I was trying to say last evening with the help of a piccie. I don't pretend to be any kind of Elliott Wave technician (mainly because the relationship between the different timeframes is a bit too complex for me and I start drifting off when it gets boring), but, the snippet I do know about Elliott Waves is that patterns tend to consist of either 3 (corrective trend) or 5 (dominant trend) waves.

Assuming that the FTSE has started and nearly completed a new dominant trend off its February highs on the hourlies, I don't think it's unreasonable to expect a corrective trend to start soon. Over the 3 corrective waves, I would also expect the price to move up towards that upper red bolly band (which is actually an mtf indi on the H4)

Anyway, make of this what you like.

That's a great one liner Hilary, must remember it..

6537.8 gone long

GBP Trade Balance -9.8B -8.7B -7.7B

Nice pic Hils.

I'm also long.

6545.8 position closed +8

6544.3 gone short

6539.8 position closed +4.5

As we're doign charts he's what I'm working too.


I take Hilarys point over the duration of the current fall, however the 3 hard rules of Elliott Waves can not be broken. Have a look at wave 3 again... On Edit and also Wave 4 overlapping Wave 1.

Rule 1: Wave 2 cannot retrace more than 100% of Wave 1.
Rule 2: Wave 3 can never be the shortest of the three impulse waves.
Rule 3: Wave 4 can never overlap Wave 1.

So a bit like fight club then.

Ignore me, I'm reading this wrong, 5 is the 3rd impulse wave and so the longest.... Doah.. right for the billion-fh look..

Wave 4 yet to happen

I am ignoring you Shortie.

For Fs sake you arent really being influenced by the intra day pressure of hillary are you?

Take a step back and just have a look at what you have posted this morning. Take a few minutes out.

For Gods sake man your probably the best indicies trader on this site (SKINNY IS TOP NOTCH) and your listening to Elliot Wave Bull shit from Hillary!!!!!!!!!!!!!

Relax and realise your being manipulated by an inferior being.

Pull yourself together.

I am ignoring you Shortie.

For Fs sake you arent really being influenced by the intra day pressure of hillary are you?

Take a step back and just have a look at what you have posted this morning. Take a few minutes out.

For Gods sake man your probably the best indicies trader on this site (SKINNY IS TOP NOTCH) and your listening to Elliot Wave Bull shit from Hillary!!!!!!!!!!!!!

Relax and realise your being manipulated by an inferior being.

Pull yourself together.

And that still doesn't work... As per 14745 then, it breaks the rules.. I think..

Do you get changed in a telephone box GF? FOff

6530 small short