Free Webinar Service - Ask Mark Austin and John Piper any question you want

I will shortly be launching a new service offering FREE webinars to increase the educational aspect for trading. Knowledge is power in this business so the more you learn the higher your success rate will be.

 

The webinars will be held in conjunction with John Piper and will centre around what you need answered to help you going forward.

 

The first webinar will be held in December at 7pm UK time. I will confirm the date very shorty.

 

To sign up and ask a question please click the below link.  Feel free to pass comments on any future products or services that you would find beneficial as well. 

 

http://www.markaustintrading.com/questions.php

All the best,

Mark Austin

Mark Austin FTSE Trading Update - 30th Nov 2010

Good morning

I have had a few emails as to whether the traditional xmas rally will come into play this year.  In general this is a positive time for stocks, however at present the Europe credit crisis and the Korean situation is creating allot of stress in the market place.  This is explained why we are seeing wild price swings in a narrow price range.  Ireland has now been bailed out but there are concerns over Spain and Portugal.  There have been comments that Spain is too big to bail out. Until these major problems are resolved horizontal price activity may continue.

Mark Austin FTSE Trading Update - 26th Nov 2010

Good morning

I am still in the process of determining whether the 4th wave is over and whether we have started the final 5th up. I have labeled the 4th wave with a red arrow for reference.

Back to shorter term analysis, 5700 was achieved yesterday so I would expect a brief pull back this morning. 5650 remains key support for now.  Acceptance (3 thirty minute candle bars) would be detrimental to further upside.

A testimonial for my FTSE Trading Service

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I only joined your service 1 month ago and observed for a week as I have been using other services that seem to give me advice on how to burn my pot,  I did not need there advice for this!  I have to tell you that just from last Friday, Monday and Tuesday of this week you have made me 100 % of my pot, if you continue in this fashion you may even get me all my money back that other services have lost me.  

I just wanted to say your narrative in the morning is so good, it feels good to win.  But it feels like I thrash the broker, I sell to your target down then go long, once I observe a bit of price action.  Added with the binary's is gives me a great feeling.  All of this with low leverage and no draw down i am amazed how less stressed i am since using your service.I have recommended you to lots of people.

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Mark Austin FTSE Trading Update - 25th Nov 2010

Good morning

Its thanksgiving in the US today so expect a very quiet session on the FTSE after 12pm.

On Monday I mentioned the FTSE had yet to complete a 38.20% Fibonacci retracement from its highs at 5903.   This has occurred now so in terms of a correction the minimum requirements have been fulfilled (see chart attached). However, the form of the 4th wave is a complicated pattern so for now I expect horizontal activity between 5530-5820.  Once price action goes above 5850 we can conclude wave 4 is over and wave 5 has started.

To get access to the complete email as well as my ftse trading opportunities you can sign-up at my website.

Mark Austin FTSE Trading Update - 24h Nov 2010

Good morning

The FTSE broke through 5650 yesterday so the short term trend of the index has turned neutral. I say neutral and not negative for the following reasons:

A)The FTSE started its rally on the break out of an inverted head and shoulders pattern at 5477 back in September.  Its very easy to get caught up in world events but unless we see prices move below this level we should assume we are still in a correction from 5903.

B) The Elliott count is far from ideal.  Usually when the pattern is unclear it is counted as corrective.  If we have clear 5 wave action then the action is impulsive. Impulsive action is the direction of the overall trend. In this case its still long term up.

C) We have left a trail of gaps above current levels (5620) and 5800.  The extreme gap in particular at 5668. These usually fill over 3 trading days. This could indicate we may experience horizontal activity between 5530-5800 in the short term.

Mark Austin FTSE Trading Update - 23rd Nov 2010

Good morning
 

The FTSE made a brief high at 5787 (above its high on the 18th Nov 5786) but I was expecting a move above 5800 where we have some gaps unfilled.

 

The short term trading range lies between 5650 and 5760. A definitive break of these key levels will dictate the next direction. I will therefore be watching the open carefully as we are set to open below 5650.  If price action is not accepted below 5650 we could have a short term buying opportunity.

Mark Austin FTSE Trading Update - 22th Nov 2010

Good morning

The FTSE will open higher this morning after Ireland received confirmation of a bail out package from the EU. Good news? Yes but lets face it, another EU country has failed and begs the question of who is next..............

The recent correction fell shy of its 38.20% correction level.  This is not ideal and we could expect a further correction shortly.

We are probably in a Wave A from 5900 ended at 5651. We are currently in wave B which is taking the form of an abc.  I would expect this to reach 5820-5850 and then a final move down.

For the above scenario to remain valid I would not expect the FTSE to close above 5820 on 2 consecutive occasions. If we do I will conclude the rally is set to continue into the year end and we will position long.

Mark Austin FTSE Trading Update - 18th Nov 2010

Good morning

After a strong Asian session the FTSE will open positive this morning. Currently the index is trading at 5735.

With Ireland on the verge of being bailed out this could cause some short term upside towards 5800 (we have some gaps to fill above here) so I will be using systems to enter me short this morning but removing the risk early on.  I then plan to run the second half of the trade if we see sustained price action under 5700.

To get access to the complete email as well as my trading opportunities you can sign-up at my website www.markaustintrading.com

Mark Austin FTSE Trading Update - 17th Nov 2010

Good morning

Yesterday the FTSE closed under the MA 20 at 5760 which confirms negative price action with lower prices likely in the short term

Attached is my analysis from yesterday.  The end target for this decline is 5620.

Major support lies at 5550 and unless we close below this level on an end of day basis, this decline can be treated as a simple correction.

Mark Austin FTSE Trading Update - 16th Nov 2010

Good morning

This morning FTSE futures are down and we are set to open in the same position as yesterday.

My Elliott count still calls for a move downwards. At this stage this is the most probable count however we really need an end of day close below the MA 20 (5750) to compliment this.

To get access to the complete email as well as my trading opportunities you can sign-up at my website www.markaustintrading.com

Mark Austin FTSE Trading Service Update - 15th Nov 2010

Good morning

After a volatile Friday session the FTSE will open flat this morning.

Friday's session penetrated the MA 20 however we closed above this level so this cannot be treated as a valid sell signal. If anything it was shaking out too many investors long in this market.

In terms of Elliott wave theory I have attached a chart showing a potential ABC correction.  Wave B finished at 5832 on Friday and we could be due a decline to retest 5700.

Mark Austin FTSE Service Update - 12th Nov 2010

Good morning

The FTSE will open sharply lower this morning. We have 2 consecutive end of day closes below the break out level at 5820 which confirms weakness on the index.

The area of no trading activity between 5773-5797 which I have been harping on about for almost a week has finally been filled.  This has been a real deterrent for me going long as these areas usually get filled with in 2 days.

Mark Austin FTSE Service Update - 11th Nov 2010

Good morning

In terms of price action the FTSE closed (5816) yesterday on a negative note below is recent key break out level at 5820.  At this stage I am not going to read too much into this as markets tend to revisit key areas of support or resistance but a second close under this level would suggest weakness.

Mark Austin FTSE Service Update - 10th Nov 2010

Good morning

Yesterday the FTSE made a new high whilst American markets sold off.  At this stage the FTSE continues to climb with little pull back. In a normal bull market/rally traders can short retracements and also trade the trend up. Under current conditions the FTSE is moving in a virtually straight line. This is not the norm and is a direct result of FED intervention.  All we can do is go with the trend but be very alert for sell signals. Any clear sell signals we see can be entered at 50% normal stake which we can add to if the signal is validated.

To get access to the complete email as well as my trading opportunities you can sign-up at my website www.markaustintrading.com

Mark Austin FTSE Service Update - 9th Nov 2010

Good morning

In terms of yesterday's analysis there has been no activity to change my short term view.

Mark Austin FTSE Service Update - 8th Nov 2010

Good morning

On Friday the FTSE closed well above its break out level at 5820 .  For now this acts as confirmation that higher prices are expected towards 6000.  You can see this on the weekly chart attached.  Only a daily close below 5728 compromises this strong uptrend.

To get access to the complete email as well as my trading opportunities you can sign-up at my website www.markaustintrading.com

Mark Austin FTSE Service Update - 4 Nov 2010

Good morning

The QE2 statement was released last night and the Federal Reserve announced it would buy $600 billion in government bonds to support the struggling economy. The anticipated figure was $500 B so better than expected. 

The next important news item will be the non farm payrolls on Friday.  This is important as if job numbers come in worse than expected some my take the view that QE2 may not be sufficient to prevent inevitable problems in the US economy. 60k is expected for job creation.

Mark Austin FTSE Service Update - 3 Nov 2010

Good morning

Today we receive the highly anticipated statement from the FED on QE2. This is timed at 6.15pm UK time.  Everyone has their prediction on the outcome of this news but in reality no one knows how the market will react.

Mark Austin FTSE Service Update - 2 Nov 2010

Good morning

Today is the mid term elections for the US and I have to applaud the US FED in propping these markets up until this date. From a technical point of view both the US markets and FTSE are well over due a correction. Once tomorrow is out the way I will start providing information to positional traders on longer term trades. I have been hesitant up until now because of this key date.

Mark Austin FTSE Trade Summary - 1st Nov 2010

Dear all

 

Today I sold the FTSE Binary Tunnel 60/60 at 81.

 

Half was closed at 59 and the remainder expired at 100.

 

Binary tunnel trade summary:

 

Binaries range from 0-100.  In this case I was focusing on the 60/60 tunnel. This is simply agreeing or disagreeing that the FTSE will stay in a 60 point range from the previous days close. In this case the previous days close was 5675. By selling the trade I was disagreeing that the trade was going to stay in a 60 point range.  I want to be selling these trades at 70 or higher to make the risk/reward make sense. After all that is what trading is all about. I have yet to buy a tunnel but its possible. The tunnel strategy take advantage of volatility, particularly just before large news releases.

 

Mark Austin FTSE Service Update - 1st Nov 2010

Good morning

Today is the start of an important trading week which could prove to be pivotal.  As you may be aware the FTSE has been propped up by the American markets recently with continuous liquidity injections from the FED.  This is artificial and from a technical point of view makes reading the markets some what difficult. A prime reason why I have been cautious over the last month with a focus on binaries.  On Wednesday the FED will announce its forthcoming liquidity measures.  There are two ways to look at this.

To get access to the complete email as well as my trading opportunities you can sign-up at my website www.markaustintrading.com