Anyone scalping the FTSE Futures??

MartinC-J said:
Just out of curiosity, do you get your MP from esignal charts?

The volume has now finally dropped off and the Turkey and redcurrant is about to arrive. I have left a small range trade long from 5108 but I would imagine it won't stray too far from the 20 EMA on the 5 min chart until 6pm.
Click to expand...

I'm using Ninja and the fin-alg MP chart. I'm happy with it for what it cost.
 
dc2000 said:
😆
not much happening by the looks of things we will get lows by next tuesday which is strange to see moves telegraphed like this the 5089 is set in stone as is the 5426 the 4930 isnt but I would expect the hit if the DOW hasnt hit 11103 when FTSE hits 5089

options today are to hit 5225 and pullback to the 5189 level

I will take some time later to reply to the earlier posts but for now off out christmas shopping
Click to expand...

DC.. many thanks .. all makes sense to me except I dont understand the 5426.. if you could shed some light on this I would be grateful .. particularly how you saw this so early in the week. :smart:
 
quite a few levels today

5268
5243
5226 --- coincides with DCs target today
5184 - prevous high
5114
5095 - PL
5086
5069
5042
5015

VAH - 5186
VAL - 5127
 
mrng chaps
a target and a signal how cool is that

fat lady aint singin yet I was surprised not to see 5130 with the low target 4930 in play and the DOWs low still in play maybe monday the DOW has to hit in session
 
dc2000 said:
mrng chaps
a target and a signal how cool is that

fat lady aint singin yet I was surprised not to see 5130 with the low target 4930 in play and the DOWs low still in play maybe monday the DOW has to hit in session
Click to expand...

mmm.. I took a long at 5073 this morning .. still got it .. lets see if it can get over 5114.5.. then we might be home and dry for 5184 . maybe 5226

but you seem to suggest we might go lower today still..!!
 
DaddyJohn said:
DC.. many thanks .. all makes sense to me except I dont understand the 5426.. if you could shed some light on this I would be grateful .. particularly how you saw this so early in the week. :smart:
Click to expand...

Hi DJ
Price comes from tuesday 14th the failed pattern for the thursday left a target which was also given from late monday this week this is a monthly target

right now we have a failed pattern from the 14th turning into an inverse trend and an inverse trend this week
now we should get a new target set from next monday for the december SS (Im expecting 5600 area) this would be typified by an early dip then buying most of the day, tuesday gets a negative gap then low to within 20 points of FTSE monday low, this would then take us into december monthly after the 9th which is a SS month so we get low in to year end ready for a nice bullish start to 2012

shorter timeframe as Ive said I expect 4930, unless by some miracle FTSE treads water and DOW hits its target, and could live with 4920s but wouldnt want to see below 4905
 
DaddyJohn said:
top vlaue area from 6/10
Click to expand...

to add a bit more colour.... th 4,5,6 Oct were the start of the move up.. I use Market Profile to calcualte Value Areas every day and I place them on my chart.

I am assuming that these levels will provide good support for scalping opportunties

does that help??
 
Value areas are the price range within any one day where 70% of the volume transacted.. the highs and lows of this range are significant levels (usually)
 
DaddyJohn said:
to add a bit more colour.... th 4,5,6 Oct were the start of the move up.. I use Market Profile to calcualte Value Areas every day and I place them on my chart.

I am assuming that these levels will provide good support for scalping opportunties

does that help??
Click to expand...

I dont use Market Profile DJ and dont know the in's and outs of its application.
Can you use the Value areas from that far back?
 
So for some bizarre reason the market liked the Italian bond auction results. I don't know why. The yield jumped a massive amount for 6 month money. It went from 3.5% to 6.5% on 8 billion euros of bonds. That's an extra 120 million euros the Italiant govt will have to find in 6 months time. It can't be anything but bad news, and yet the FESX and FTSE moved up. At least at first. Surely it has to sell off.
 
DaddyJohn said:
mmm.. I took a long at 5073 this morning .. still got it .. lets see if it can get over 5114.5.. then we might be home and dry for 5184 . maybe 5226

but you seem to suggest we might go lower today still..!!
Click to expand...

an out at 5103 .. this is taking too long to break the 5114.5..

I kniw I will regret it... I need to have more patience
 
DaddyJohn said:
Value areas are the price range within any one day where 70% of the volume transacted.. the highs and lows of this range are significant levels (usually)
Click to expand...

Problem is that the value area is not usually a SR level.
I used to do something where I would short yesterday's value high range with a SL at the 100% but often price would just move up past the value high to test the resistance anyway.
Hence, why I still predominantly use SR to take the trade from.
 
Who would have thought that we would be watching the results of the Italian bond auction to decide what effect it has on the outlook for the top 100 UK companies? Will this effect how much oil BP or Shell sell? Will it effect how many pills Glaxo sell? How about how many people Vodafone sign up next year? Probably not.

I closed my short from 5104 as it is taking forever to go down to the lows. When it ain't happening, it ain't happening.
 
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