Trading the XJO with CFDs

[Uncle Festivus]

Re: Trading the XJO with CFD's

Hi TI,
Broke even this morn, now gone long (6138, see 10 min IG candle chart) for the arvo with tight stop.
See how we go. (Don't argue with the Bull )
UF

 

[>Apocalypto<]

Re: Trading the XJO with CFD's

Hey UF,

I know how that long may have gone.

A lot like mine!

It really fell over this afternoon I am back waiting for it to return to it's line or produce a solid swing.

Looking for the 7 point (if it happens) where ever it it hits. So I am just going to wait it out now.

 

[Uncle Festivus]

Re: Trading the XJO with CFD's

Hi TI,
I missed out on Friday with the longs, got stopped out twice (by one point the second time ) but then promptly went through the roof Friday night & today. Doh!
However, I'm thinking the market is getting a bit tired, & is getting close to the 8 week cycle turning point, and the hourly macd is telling me that these advances are either running out of steam or just getting ready for a big advance breakout.
As usual, a couple of interesting day's with the US data this week.
As per Frank D's post, may be time for short or sideline?

UF

 

[>Apocalypto<]

Re: Trading the XJO with CFD's

UF,

Same thing happened to me it kept looking like bouncing back but never did.

I am on the sidelines till it pulls back to the trend line, having some fun in other markets while i wait.

Yeh I hate when it does that to you, races down touches your stop and runs straight back up!

 

[>Apocalypto<]

Re: Trading the XJO with CFD's

Looks like a sell off is in action

dow looks ominous as well right now 70pts down so could be a red day in new york.

I am not complaining as long as it does not crash though my lines, I am waiting on another entry.

Trend started on a very volatile note so this will be a good test of players overall mentality.

Lets see if it turns into a red roller coaster.

 

[CanOz]

Re: Trading the XJO with CFD's

It will be interesting to see how the US plays out tonight. As i posted in another thread, they can manipulate thier own market, but they can't manipulate the greenback!

Got my shorts ready, but not game to put them on.

Cheers,

 

[>Apocalypto<]

Re: Trading the XJO with CFD's

Waiting on the IGxjo see what pans out not playing any shorts on the four hour chart.

Dow has creeped back from 70 down a real smashing tonight could send us though the line.

Now on the US I am long on the aussie against the us now but i see the aussie is weaker across the board.

Failed to break trend so I will ride it out.

 

[>Apocalypto<]

Re: Trading the XJO with CFD's

Really confused as what to make of this right now my eyes say side ways to a drop.

But the dow looks strong with a positive influence and push on our weakness.

But I still see some resistence formed and the trend looking like its not moving up any more, more sidways. So I am well en truly neutral.

 

[CanOz]

Re: Trading the XJO with CFD's

Really confused as what to make of this right now my eyes say side ways to a drop.

But the dow looks strong with a positive influence and push on our weakness.

But I still see some resistence formed and the trend looking like its not moving up any more, more sidways. So I am well en truly neutral.

Can you access IG at the moment TI? I can't.

Cheers,

 

[>Apocalypto<]

Re: Trading the XJO with CFD's

Can you access IG at the moment TI? I can't.

Cheers,

I am in at the moment things working fine.

Try giving them a call Canaussieuck.

I have been online since 6ish melb time.

 

[>Apocalypto<]

Re: Trading the XJO with CFD's

CanOz

How did u go with IG?

Things still looking unstable in current price location.

Looking for a return back to 45degree line to justify another long entry.

I have maped out some of my previous trades on a daily to show where i see things taking off from and trend reversal is all the support lines.

top shows resistance lines with possible retracments.

What are your thoughts on my fibb retracment placement, do you guys mark the 100% on the support or tail?

**two other gann lines have saved out of line no idea why this happens, they should be a touch closer to price.**

 

[>Apocalypto<]

Re: Trading the XJO with CFD's

Good evening other IG xjo traders,

Short term:

Weakness has creped in weight has really started to stack up, forming a sideways band finding support at first fib retracement. Two short term possibilities I can see for this trend. Follow the line of resistence and once it breaks its support + trend line a descending triangle could be confirmed. A break of the resistance with a bounce of trend line and break of minor to major resistance confirm second setup of a ascending triangle.

I know may is now a matter of days away and we all know what that means. RED RED RED yeh yeh.

From how I trade and to my rules, as long as it finds support and continues to travel on its 45 degree angle I am long. Once it breaks that line I am looking for a new break out on the long side after any corrections or side way bands.

Good trading.

 

[yonnie]

Re: Trading the XJO with CFD's

hi folks,

a good thread here.

I would like to hedge my long portfolio with a stop sell order for a CFD ASX200. So if ASX200 trades at 6250 just sit there with a sell stop order about 3% lower @ 6060.
Now I dont think IG would actually sell something in the underlying market when the market tanks and it comes down to 6060 and my order becomes a market order. So would IG be at the other side of my trade?
In that case I would be afraid that in a fast moving market
my fill price would be simply awful, because IG would be inclined ofcourse to give me a lower price than the underlying market to protect their position.
What do you guys think how this scenario will work out?

thanks

 

[CanOz]

Re: Trading the XJO with CFD's

Hmmm, not sure how it will work out as far as IG's concerned. If they want to cover more for a trade they'll increase the spread. Unfortuneatly i've got a meeting at 8:15 and won't see the action. The mini is sitting on S1 calculated from the daily pivot (6290), after this i've got S2 at 6229.

Trade IT will no doubt have a go at a short if he's around and he uses IG, maybe UF will too.

Can't wait to see what happens.

Cheers,

 

[Uncle Festivus]

Re: Trading the XJO with CFD's

hi folks,

a good thread here.

I would like to hedge my long portfolio with a stop sell order for a CFD ASX200. So if ASX200 trades at 6250 just sit there with a sell stop order about 3% lower @ 6060.
Now I dont think IG would actually sell something in the underlying market when the market tanks and it comes down to 6060 and my order becomes a market order. So would IG be at the other side of my trade?
In that case I would be afraid that in a fast moving market
my fill price would be simply awful, because IG would be inclined ofcourse to give me a lower price than the underlying market to protect their position.
What do you guys think how this scenario will work out?

thanks

Not sure I exactly understand what you want to do but as IG are market makers (if you are using the L1 platform) then your stop will be filled at the mid price ie usually 1 point below your stop. As I havn't had the experience of a fast market gapping through my stop I don't know how IG would handle it, though past experience would indicate your order would go through pretty close to your stop.

 

[>Apocalypto<]

Re: Trading the XJO with CFD's

morning boys,

just got back from china this morning.

damn it's a circus at customs!

will check out whats happening and try to add some thing worth while later!

 

[CanOz]

Re: Trading the XJO with CFD's

morning boys,

just got back from china this morning.

damn it's a circus at customs!

will check out whats happening and try to add some thing worth while later!

When you get some time TI, send me a PM about your impressions of the trip to China!

Cheers,

 

[Uncle Festivus]

Re: Trading the XJO with CFD's

It looks like another sideways channel for a while for the XJO I think, although there is a sign that having fallen into the lower channel of the uptrend since the last correction it may be running out of steam ie the angle of advance is moderating. Nicely bounced off top of channel (6370) in early trade this morning.

Positives - RIO & BHP game continues.
- retailers on a roll

Negatives - banks going ex div.
- retailers may blow off top

Any comments?

 

[yonnie]

Re: Trading the XJO with CFD's

thanks can and uncle for your comments

 

[>Apocalypto<]

Re: Trading the XJO with CFD's

Hello Hello,

Things are interesting on the IGXJO,

I am neutral at the moment but leaning more towards the correction side. but that is my personal opinion not what i see on the chart.

look at this trend so far (NOV06 - now) so amazing! the strength and drive money making heaven!

This trend is really churning well at the moment missed the 7 point entry cuz i was in china that was a bummer! o well!

now back in the same situation waiting for it to retest its line of price and time harmony at the trend line.

bull side,
very strong trend making new highs and still shows strength, trend line has hardly been tested just touched.

Bear side,
this last push from point 7 ran out of steam very quickly is that a sign of a buyer shortage?

current price action
as UF said, sideways band forming but I find no real prob there cuz it has as much support as resistance, it is currently in a unstable price angle and returning to its 45 degree harmony point.

I am looking for its 9 point on the trend to renter. (If it holds!)

Please see chart