Dear all,

I thought today, a key reversal day on the FTSE, after a Fibonacci Classic thirteen day sell off was a very good time to start some Candlesticks commentry on the FTSE 100.



We have a a thirteen day sell off, the longest continuous down day period since 1947, followed by a clear hammer bottom reversal, from L 3391.50 to H 3493.70, an intraday swing of 102.20 points, hammer reversal point 33.33% head/66.66% tail required, original run to 3490.70 fading at peak 3493.70 dutifully turned towards close at 3457.60/3459.62 area, hammer neckline, closing at C 3483.80

Hence:-

Head = H 3493.70-C 3483.80= 9.90 points
Tail = C 3483.80-L 3391.50=92.30 points

Previous day a bullish Long Legged Doji Formation indicating upcoming reversal, followed by strong hammer bottom, verging on dragonfly doji reversal, ie very bullish.



What we hope to see is a hammer bullish engulfing formation tomorrow in order to confirm this bullish reversal of the trend.

Cheers

Ashley

Ash excellent thread, don`t stop now

MikeShares,

Sorry I have decided to cease posting huge reams of information on the BB, but appreciate your kind words.

Regretably certain other people do not wish me to post extensively on the boards so I have taken the easy way out and stopped.

I do not intend to post much now on MoneyAM.

Hope you were long and made a good profit today.

Cheers

Ash

Ash our loss , have enjoyed reading with great interest, I have been flipping between both sides at present, I can get streaming chart there, I normaly print your thread off , as you go into great detail. "huge reams " from you Ash the more the better.

I wish you continued success for the future.

No Ash I was mostly bearish , that life.

Ash
only been on the bb for about a week and found your threads realy great.For a novice its hard to find people who genualy share information they have.Are there any other BB where you can find genuine tips from traders that dont feel they must keep things to themselves.
B

milkshares, beardy why don`t you go on the traders thread so stocks and ukx are combined. It might encourage other posters and anyway I find it useful in otder to gauge market sentiment

Hi all, discovered your thread too late, Ashley. I see you are stopping it. Our loss. I am just exploring the site at the moment. Any other FTSE threads?

Have a g-day all

TS

Nasty head and shoulders on UKX target length of neckline approx 3738.50 less 3714.50 ie 24 points off right shoulder at 3730, ie 3706.00 IMHO



Edited:- should be 24 points drop from neckline to 3689/3690 area.

Bull Manana IMHO

Night all

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