Hey DJ, i know the difference is not much now but are these cash or Futures, as you mentioned using a SB for swing trading a while back?
Scrap that, answered my own question by looking at the charts. Being Lazy.
Appreciate the value areas👍
DaddyJohn
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No problem Reska.. I always quote futures prices..
now the fact we have spent a good time trading this morning in the lower part of the value area indicates we have an 80% chance they will go further up near the Value area highs... however.. this rule has a two day time span.. so if it doesnt happen today then look out for this area on Monday.
That's a high percentage. I expect it to go up, but what technique are you using to state a percentage chance?
DaddyJohn
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experience I guess
dc2000
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a buy day for FTSE a sell day for DOW
last half hour yesterday and early price action on FTSE suggest it will produce a sell which means we trade a range buying around yesterdays low and selling just shy of yesterdays close it does not have to close the gap at this point within 10 points will do
the DOW is expected to fall fast within 1st hour (200+ points)then pull back most of day and fall into close
John
Thanks for posting the levels. I find them useful.
Where did you get your 5385 level from? I had 86.5 as a weak level but nothing as clear as yours.
And your possible lows for the day are from subtracting some kind of range from yesterdays pm high?
We've got FTSE options expiring today at 10:20am, so this may just defy gravity until then. We still have a very nice channel on the 1 hr chart, which is being tested at the upper level. I think for now we drift sideways out of the channel.
For scalping it is a morning of quick hits and small targets. I am banking 5pts when its there.
Fair enough DJ. But it does help if people understand the logic.
DaddyJohn
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Martin
prices are based on calculations from taylor book method .. that one is based on
average declines from the SS day high
DaddyJohn
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understand Reska.. but it is hard to explain the logic , other than human nature and the fact the market is a huge auction machine... value areas are tested all the time.. if the market breaks out of a range , then pushes back into it.. it is usually a sign that they have unfinished business in the range. It is the cyclical nature of the beast and vlaue areas are a good way of looking for signposts as to "where does price want to go"
DC,
Methinks you are talking FTSE cash prices here. So you are saying buy yesterday's cash low at 12:05pm which was 5364 cash (5359.5 Futures). The FTSE Futures low of the day was at 5:40pm at 5337.5, which is not the level you are suggesting we buy at.
And for selling just shy of yesterdays close, you are referring to the cash close at 4:30pm, where it closed at 5423. The futures closed at 9pm at 5352, which is not the number you are suggesting we sell at.
I am just making sure we are talking the same time frames.
Your suggestion we buy around 5364 cash/5359.5 futures worked well this morning as it pulled back to within a point and then went up.
Currently FTSE cash is about 5 pts higher than FTSE Futures.
Just for clarity J, the lows for the day are calculated form subtracting the average decline from the SS day high? And the 5385 came from?
dc2000
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