Short Orders

Have amended the Dax order i had before so have the following orders open now to short:

Dax June - 5885 (61.8% retrace)
Dax June - 5820 (50% retrace)
Dax June - 5535 (just below the previous low)

FTSE June - 5320 (61.8% retrace)
FTSE June - 5274 (50% retrace)
FTSE June - 5020 (just below the previous low)

Dow Year End - 10252 (61.8% retrace)
Dow Year End - 9813 (just below the previous low)

S&P June - 1110.5 (61.8% retrace)
S&P June - 1049.0 (just below the previous low)

If all of these trades trigger and the markets tanks, im gonna be a very happy man, if not, back to the drawing board :-s !

FTSE Short June CLOSED

Opened yesterday at 5211 closed at 5164 for 47pts. 38.2 target reached. Leaving the Dow and S&P shorts in as theyre low stakes long term positions. Looking for a bounce to 61.8 retrace of the drop to add short positions

FTSE Analysis

The targets i gave for yesterday seem to have now converted to tops for only Wave A not the whole of wave 2. I expect a drop tomorrow but if its a weak drop we may go higher, possibly towards 5400s and the 61.8% retrace of wave 1 and where we should come across some big resistance. 38.2 retrace for wave B would give us 5236 and also area of previous 4. Also if the A wave of 2 has finished where we are now, wave B goes to 38.2 and A = C, we finish very short of 61.8% retrace 5413

So i might have been early with my short positions but will hold them and possibly bank on the retrace down depending how severe the drop is

Short Orders triggered today.....

while i was out!

FTSE June at 5211
Dow Year End at 10076
S&P June at 1091.2

Dax yet to trigger

Short Orders

Placed on the following:

FTSE June - 5211
Dax June - 5754
Dow Year End - 10076
S&P June - 1091.2

EUR/USD Analysis

First 5 waves of wave 3 down look to be complete. Count currently stands at 2 of 3 of 3 of 5.

Looking at the 38.2 area again to feed in short positions. Also wave 4 of lesser degree

FTSE Count

The first 5 waves down seem to have completed. If that is the case, im on the look out for a zigzag correction up which is normal for wave 2. We seem to have completed 5 waves up already today to complete Wave A ofthe zigzag. A pullback towards 5202 which is a 38.2 retrace of the rise today and also wave 4 of lesser degree is an ideal area for Wave B to complete. Wave 2 retraces normally 61.8 of Wave 1 as a guide but im aiming for the 5300-5330 area.

5305 is the 38.2 retrace of the whole drop from the top last month. If A = C we get 5330. Wave 4 of lesser degree and the top of the A wave of the 4th wave triangle last week is also the 5330 area.