Barclays Share Discussion Threads

[mj19] 14/6/2017 15:37

Chart of the week: Barclays still in major downtrendBy John Burford | Mon, 12th June 2017 - 11:18Share thisChart of the week: Barclays still in major downtrendLast week I covered Lloyds (LLOY) and today it is the turn of Barclays (BARC), which I last analysed on November 28 last year when it was in a classic relief rally. This followed the massive 50% slide off the July 2014 high at 240p to the plunge low at around 120p in June last year on the 'surprise' Brexit vote.Since then, the chart is showing excellent Elliott wave patterns as well as superb tramline sets, which I will show because these are essential guides for me to set accurate price targets.For those wishing to use tramlines in their trading, this example should be of considerable help.To recall, this was the chart back in November:The wave 5 low last June at 120p was the final wash-out selling exhaustion phase and was the prelude to the relief rally in a small-scale A-B-C. Remember, after a five motive wave move down, I expect to see a three wave affair before the main downtrend resumes.For trading strategy, you may play this in several ways. Because the original decline was so large (50%), I expected the recovery to be at least a significant proportion of that span - and a 62% retrace would be normal. That sets a rally target in the 225p area at the least. You could, therefore, go long anywhere in the July-November period with the 225p target in mind for a likely exit.Or, if a longer-term player, you could have taken profits on shorts near the wave 5 low and waited for the market to rally to the 225p area, then look to short again as you would be aligning with the major trend. This is classic major-trend following discipline.Back in November, the market was already approaching that target and this is what I wrote:"With this evidence, odds are building that the counter-trend rally high is here or nearby. This morning, the lower wedge line has been breached, which is usually the first signal that the trend has changed."If this is correct, my immediate targets are the gaps on the way up in the 205p and then the 195p levels."What could spoil this picture? Certainly I would put it on hold if the market rallied into new highs above the 220p level. Failing that, there is a low-risk play here if you enter protective buy stops there."So did the market rally into new highs above the 220p level, which was my warning alert? Here is the updated daily chart.Yes, from the 213p level in November, the rally continued to the 240p level in December, and then entered a lengthy consolidation period between 240 and 220. But in that period, the market was finishing off the five waves in purple wave C!By March I had enough on the chart to draw in a lovely tramline pair and, when the market broke down beneath it in early April on a decent momentum divergence, that was not only a flash alert to short, but I could also set T3 in place.This supportive tramline is drawn parallel and equidistant and becomes a price target (which was almost touched on Friday). Remember my targets set back in November? One of them was the 205p area - also hit on Friday. Bingo!But that's not all - I have another tramline trio working:In December, as the market was breaking below the blue tramline, I could also draw a very respectable pink tramline pair that connects the lows and also the two highs.All trading in that period was contained in the trading channel between those pink tramlines which were significant lines of resistance (upper) and support (lower).Note that the lower blue and pink tramlines crossed over at precisely the time when the market was breaking down - a sure-fire signal the market wants to move lower. This tramline cross setup is about as close to a sure-thing as you can get in the markets.And when the market rallied to try to kiss the blue tramline, all it could manage was a kiss on the pink tramline before peeling away very hard down in a scalded cat bounce. That was pure Tramline Trading textbook.At the current 205p level, we have reached both T3 targets and my November target. Not bad for drawing a few lines on the chart, is it? No need to follow the company news, analyse the reports, read all the gurus and follow the politics. Everything is in the price and as I have repeatedly shown, markets have memories. That is why tramlines work!

[mj19] 14/6/2017 15:37

Did u read this

[dodge city] 14/6/2017 15:06

The bull market has run out of steam.

[mj19] 14/6/2017 14:37

What happened to Barc lost all its gain

[hasin] 14/6/2017 13:52

Tower blocks should be equipped with dual sprinkler systems,one from mains and back up tanks,also fireproof rope ladders with safety harness,at the moment they are fire death traps.

[portside1] 14/6/2017 11:30

healthy and safety , they no diesel cars are killing people nothing done it cosrs money , if I work off a ladder they charge me with breaking h/s rules you have to laugh at the idiots ,
why are diesel cars still running on our roads
answer because it costs money ,and they can not fine them

[portside1] 14/6/2017 10:38

it is not homes that make areas the slums its the people living their and when they
know they are only their for a couple of years they do not give a toss

[portside1] 14/6/2017 10:33

diku would you live in now slum areas which as johwise posts is fact not fiction

when you see migrants living 15 to a home its says keep well away its a slum area

[diku] 14/6/2017 10:08

You seem to paint a very negative picture of all tenants which is not the case....the fact is it takes 2 to tango...there are owner occupiers who also fail to maintain their properties and also have parties just like the tenants...and these owner occupier children one day do have to rent to start on the housing market...so the landlord does play a vital role in the housing chain....if every landlord chose not to house certain tenants (hindsight) who they think might just ruin their properties or street/area then who would house them & where?...do we build another town Milton Keynes and bung them all in there?...

[portside1] 14/6/2017 07:50

diku in over 20 years never had a problems,

terrible news from London shocking news to wake up to

[diku] 14/6/2017 07:38

porty..first class service comes in different forms...

[portside1] 14/6/2017 07:30

THEIR SERVICE IS BETTER THAN FIRST C;ASS

[portside1] 14/6/2017 07:29

IF YOU WANT A GOOD LETTING AGENCY , I have homes in the brackley area
DAVIES AND PARTNERS BRILLIANT , I HAVE NO CONCERNS

[portside1] 14/6/2017 07:27

IF YOU DO NOT USE A LETTING AGENCY YOU ARE SKING FOR TROUBLE THE ONE I USE
COVERS ALL REPAIRS TO THE HOMES . AND ALSO CHECK THE HOME REGULAR .

I HAVE NO PROBLEMS

[diku] 13/6/2017 22:55

Letting Agents get their commission from the landlord and they also screw the tenant for admin fees for not doing much...but not for long as hopefully new regulation coming in for ban on admin fees...

[johnwise] 13/6/2017 16:44

Britain was an extremely successful self governing country for centuries before we joined the rotten EU 40 years ago. We have always punched above our weight on the Worlds stage, and we will do so again when we are out of this money haemorrhaging, anti democratic EU dictatorship. So glad we are leaving, and taking our cheque book with us.

Brussels mounts £80BILLION raid on the City of London by demanding 'clearing houses' for euros move to the continent after Brexit

City of London handles £750billion of euro-denominated contracts every day

[portside1] 13/6/2017 14:09

NEVER LET A HOME TO A MIGRANT . its not worth it

[portside1] 13/6/2017 13:52

IT HAS TAKEN HER 9 MONTHS TO REMOVE THEM THEN TEY START TO THRASH HOMES

ITS THE ROTTEN LAW THAT IS TO BLAME

[alphorn] 13/6/2017 11:19

Controlling HP's would have been easy by including all gains in CGT as with most other countries.

Not really a vote catcher but would have helped to sort the problem.

[mercer95] 13/6/2017 09:56

She should have paid more attention to who was moving in, you can't trust letting agents, they don't care, they are failed politicians

[portside1] 13/6/2017 09:05

i was at a repossession last week the home was trashed big time , full of migrants at least 15 living in the home a 3 bed . it ia mess she has lost over 8k in rent and going to cost a load to put it back to live in .
the law is a farce its time it changed

[diku] 13/6/2017 08:12

Nothing to do with landlords....failing to control property price rises is an issue...supply & demand has outstripped...landlords have merely filled the gap for rental demand as rates have been low for so long and one has a control over their assest unlike shares you own the paper but have no control...the real owners are the insiders!!!....

[johnwise] 13/6/2017 06:20

How can landlords be described as 'entrepreneurs'? They are creating nothing, just changing the use of an existing asset. All they are doing is transferring the existing housing stock from ownership to rental. From what I see locally this is not good for the character and appearance of our residential streets.