Anyone scalping the FTSE Futures??

Well I thought DOW going 16100 but again I thought we are entering into final phase of up swing...

I manage to get some long today to hedge my shorts... and now +150 on paper
 

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Lets review the last week's analysis now:

Jessi_trader said:
Week : 10th Feb to 14th Feb

Those who have witnessed the numbers like 16588 (DOW) and 6867 (FTSE), still have memories of the party. Some were part of the party and returned home with a return gift. Those who could not join the party felt like betrayed by their best friend.

Two reversal Bar (5th and 6th Feb) will make those who missed the party, feel invited again.

Those who already tested the taste of blood are now addicted. These two theme will drive the market next week.

People who have shorted the market in the hope of break out support line (Green line in chart) are now feeling the heat because of those two reversal bar. They will have 2nd thought over the weekend.

Again, there are no big driver currently to push the market further down. The driver for the up move is that "market is cheap just get on it ASAP", as stated above.

I expect market to be choppy near 6600 as thats the shorting point as well. The theme remains the same as I stated in my last analysis... which is Choppy, stops will be taken easily.

Expect good enough consolidation near 6600 with bullish bias, before market break outs above 6600. Sharp move down occasionally is not ruled out. That will scare people and will not fit in any kind of technical analysis. Those sharp pull down would be buying opportunity in my opinion.

Two or Three days consolidation (Mon-Wed) would not surprise me.

Only one day consolidation happened that is on 10th the Monday. Then Market broke out.

Markets seems to like 6675 - 6775 area as it feels at home. This is where it has spent most of the time.

Market indeed headed towards these numbers.

For FTSE and DOW see Green and red line in chart (Blue/Red in Resistance chart), this is where market is seems to be heading.


FTSE Daily Chart

3484zyt.jpg


FTSE Daily Chart - Resistance

33zdatk.jpg


DOW Daily Chart

rm7ga1.jpg


And if this is helpful and you like it, please vote yay or nay (y) (n)
Click to expand...
 
10 weapons Wall Street uses to manipulate you

Commentary: No quantum computer needed for this profit-making machine

1. Hire psychologists, neuroscientists to manipulate the media

2. Free experts constantly deliver Wall Street’s message to media

3. Invest megabucks on lobbyists to control politicians, government

4. Fuel anxiety by pushing the investor’s buy/sell/ trade button

5. Kill our savings button, undercut self-confidence, long-term planning.....

6.....................

http://www.marketwatch.com/story/10...ses-to-manipulate-you-2014-02-15?pagenumber=2
 
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Dow cash still looks long term long for me at the moment … any corrections will be short lived and shallow imo but of course we could get a spike …..the bears are most uncomfortable now and it wouldn't take a lot for them to jump ship for the next ride up ...form a waffle point of view we have a possible 3 leg just started and the target is err ...another all time high ! If it plays out we got leg 5 to come after that!

The alternative.... it goes down ha ...we still got a gap in ftse around 602 if charts are correct and if you are a bingo fan look out for all the 6's :LOL: still need to support here imo

short term i'd like to see more upside early week with any pullback holding over dow 16100 area or again short lived below ...but we don't always get what we want so I will be cautious if market trades below..

inverse h&s target 16200+

just my sunday night doodles :)
 
Week: 17th Feb - 21st Feb

Week: 17th Feb - 21st Feb

Too much optimism brings disappointments. It seems market moved too fast in last couple of days and needs a halt to both repair the price action and to give a second thought. Bulls are giving second thought, bears sees battle going out of hand and they do not want to lose the ground.

Bears may counter attack on first half of the week on bad news.

Three days candle confirms the pause and possibly the temporary reversal. However, overall market remains bullish in February.

2vt8xnl.jpg


FTSE may reverse to test the 6610-6600 support line after failing to break through ghost number 6666, before it can resume rally.

Both technical and cosmic conditions suggest that market may pause and reverse on 17th and 18th and possibly 19th. Later part of week can see reversal and rally.

Important numbers are shown in the chart below:

I strongly suggest that you do not trade first couple of hours or may be until first half on Monday, unless you are very sure of your direction. Watch how market is responding, this will give you clue of how market will look like next 2 or 3 days. So wait and see how Monday is going.

FTSE Daily:

2cqmdmt.jpg


FTSE Daily - Major Support, Resistance and Reversal Lines

2hs7qxv.jpg


DOW


Dow will be closed on Monday (17th) so we will not see the reaction on Monday but follow the European market to see how DOW will look like on Tuesday and Wednesday.

Looks like DOW may reverse to test the 15650-15690 before resuming the uptrend. Please note the major support and resistance in the chart.



312yec3.jpg



And if this is helpful and you like it, please vote yay or nay (y)(n)
 
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