Anyone scalping the FTSE Futures??

[paszkman]

Morning Jessi - what is the plan for this week?

 

[Jessi_trader]

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.

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

Well We did saw bad news coming out across the globe through out the week but that failed to reflect on price. FTSE saw pause on 19th and dip on 20th Feb but not enough to brand as pullback. Market rallied later.

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:

FTSE Daily - Major Support, Resistance and Reversal Lines

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.

We did saw pullback on DOW on Tue and Wednesday, price coming close to 16000 on 20th Feb but that was not reflection of the data and news came out that week and therefore not even close to what I said.

And if this is helpful and you like it, please vote yay or nay

..

 

[Jessi_trader]

Week : 24th Feb to 28th Feb

We are probably entering into final phase of the bull swing. First part of the week looks bullish and the later part choppy.

FTSE looks ready to test 6900 and may be a failed attempt to 6950. Thursday and Friday looks choppy market.

FTSE Monthly

FTSE Weekly

DOW looks to have two choice. Failed test to resistance line in daily chart and therefore form head and shoulders in weekly chart. Or test all time high. Again Monday and Tuesday looks bullish, Thursday and Friday choppy.

DOW Monthly

DOW Weekly

DOW Daily

And if this is helpful and you like it, please vote yay or nay

 

[Jessi_trader]

Morning Jessi - what is the plan for this week?

Morning paszkman, the plan is, be cautious and play quick ones.

 

[hereward the wake]

morning all

 

[hereward the wake]

I'm thinking off 15 then a race to the gap (dax)

 

[postman]

I'm thinking off 15 then a race to the gap (dax)

I'm a bit more pessimistic today.

 

[hereward the wake]

hmm 60 pts now

 

[hereward the wake]

cash low at 98 .. let's see what happens

 

[postman]

Dow is in a mess and closed Down on Friday. I see that following through today.

 

[postman]

Dow is in a mess and closed Down on Friday. I see that following through today.

Need to see Dow above 120 soon to break that down trend.

 

[hereward the wake]

Need to see Dow above 120 soon to break that down trend.

I've got 126.8 as 4 hourly s/r

 

[hereward the wake]

I have s&p buy at 37.5 sell at 33.8

 

[postman]

Dax is going for it....

 

[hereward the wake]

Dax is going for it....

s&p and dow dragging feet

 

[postman]

Dax is going for it....

No support from Dow though. Thats unusual.

 

[hereward the wake]

9633 4 hour s/r

 

[hereward the wake]

long dax 29

 

[postman]

Dow is above the line now. Dax is getting its support. All is well in the world.

 

[hereward the wake]

closed 46