Anyone scalping the FTSE Futures??

[neil]

Hi Neil

Im not good with uploading pictures but it really is simple.

at 8.00 this morning the hourly candle started to form. use that opening price as a 'line in the sand'

price moved down then recovered crossing the opening price triggering an entry. you have to calculate stops etc depending upon trading style. Whipsaws are common.

But look at each of the hourly candles, how far did they move from the open, how often do they form small wicks & cross back over the open price and then run on?

ATR = average true range indicator, it varies on the DAX hourly between 20 and 60 pips

but have a look at TRO's videos he explains it better than i can.

Good Luck

Thanks Chalky, an excellent summary. Plus I will look at this tro thread you mention.

 

[12WBT]

Looks like the English summer beat the DOW.
Global PMI day.

 

[psaTrading]

It’s incredible how this Index rise and the market don’t care about bad financial or geopolitical news.

The earning season and the FED are boosting the stock market and it doesn’t even pause to rest.

It has been said by several experts, that SP500 has still more space to rise, at least until 2150/2200.

The famous and expected retracement is still to came.

I’ve to be honest, I miss a good short.

 

[paszkman]

Lately I have been reading the "High Probability Trading Strategies" book by Robert Miner..

Currently the piece that is missing is the momentum..here we use DTOSC indicator in MT4. Currently shows:
W1 = Bearish Oversold
D1 = Bearish reversal
H4 = Bullish Overbought
H1 = Bearish

D1 has made a bullish reversal, so you would put a buy stop order to get long above yesterday's high..

 

[ifyforex]

It’s incredible how this Index rise and the market don’t care about bad financial or geopolitical news.

The earning season and the FED are boosting the stock market and it doesn’t even pause to rest.

It has been said by several experts, that SP500 has still more space to rise, at least until 2150/2200.

The famous and expected retracement is still to came.

I’ve to be honest, I miss a good short.

you are right also me i miss it , i have problem with my internet

 

[12WBT]

Was anyone looking for a flat open. lol

 

[Chalky_trader]

Was anyone looking for a flat open. lol

Back to flat now!!!

Hmmmmm summer markets

 

[lexcorp]

Shoulda held my longs on that dip for longer!
Caught about the low this morning.

 

[2be]

out of longs on dax taken from this morning low,
reason 61.8 fibs of expected pull back
so far an eventful morning on dax

 

[Chalky_trader]

Wild & Crazy swings, no point trying to analyze that move

Now do i short the push up

 

[postman]

Anyone watching the 200 day moving averages.

Look at the dax's, its been moving up at around 200 points per month (slowing now) and is just above 9400. Wont be long before it crashes into the 50 and 20 ma's and then a daily close below, unless people start buying shed loads of shares. But from what I've been seeing, people are selling shed loads of shares on the open every day.

 

[2be]

Dax bias to the upside, after bouncing from the 61.8 Fib earlier this morning

 

[psaTrading]

It’s recommended to trade cautiously with the current volatility, so today I closed my trading by 09:28 h.
It was very quick and pretty clean.

Ticket Open Time Type Size Item Price S / L T / P Close Time Price Commission Taxes Swap Profit
405755427 2014.07.23 18:36:32 sell 0.44 ger30sep14 9753.5 9754 9480.5 2014.07.24 09:09:09 9708.5 0 0 0 495
405762861 2014.07.24 09:17:44 buy 0.1 ger30sep14 9705.5 0 0 2014.07.24 09:19:51 9696.5 0 0 0 -22.5
405762916 2014.07.24 09:19:54 sell 0.1 ger30sep14 9696.5 0 0 2014.07.24 09:20:37 9702 0 0 0 -13.75
405762996 2014.07.24 09:24:37 buy 0.1 ger30sep14 9704 0 9778 2014.07.24 10:09:56 9754 0 0 0 125
405764636 2014.07.24 10:10:21 buy 0.05 ger30sep14 9768 0 0 2014.07.24 10:11:29 9767 0 0 0 -1.25
405764757 2014.07.24 10:13:07 buy 0.05 ger30sep14 9782.5 0 0 2014.07.24 10:28:29 9771 0 0 0 -14.38
0 0 0 568.12
Closed P/L: 568.12

Happy trading!

 

[postman]

Still going up !

 

[Hedging Highwayman]

I'll be amazed if our US friends don't take the opportunity to push the S&P cash over the 2000 mark today/tomorrow....

 

[postman]

I'll be amazed if our US friends don't take the opportunity to push the S&P cash over the 2000 mark today/tomorrow....

Dont forget the 20 handle drop first though.

 

[Hedging Highwayman]

Dont forget the 20 handle drop first though.

Oh yes....that old chestnut

 

[postman]

Best US jobless numbers since 2008.
No reaction from market.
Anybody still think economic news affects share prices?

 

[postman]

I'm ready for the S&P open, its gonna be one hell of a show!

 

[postman]