Anyone scalping the FTSE Futures??

Good point Reksa

ave daily range on ftse around 45 pts currently

Just seeing the US making new highs last week fills me with hope that some shorts will close out.

Its been very slow for what seems like an age now :-(
 
Would like a few one way days. The range trade needs too much caffeine.

Cant really draw any fibs. Have to wait ages when your in for profit. And +10 on any trade is a pretty good achievement the last 2 trading days.
 
I don't know about anyone else, but the reversal at 8:15 was relatively easy to spot. Mostly because the volume dried up completely starving the price action of the fuel it needed to keep going down. Add to that the nice hammer that formed on the ES 5 min chart, and it was at least going to go back and test the 20 EMA on the 5mc.

It is now waiting till 9am to decide what to do next. It hasn't really tested the upside properly yet, and overnight it went to 5935 so it has to try that way one more time.

ps Oh and 5900 was significant support level
 
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sure looks easy to spot now!

I filled me boots arount 5900 (futs) as was offside from pre market, close half and stops in place at break even nowon the rest.

Might just go out on my bike for a few hours to stop me doing anything stupid :-0
 
reksa said:
Would like a few one way days. The range trade needs too much caffeine.

Cant really draw any fibs. Have to wait ages when your in for profit. And +10 on any trade is a pretty good achievement the last 2 trading days.
Click to expand...

Mark, I second that. I am waiting for something on the 1 hr chart where you can draw some decent Fibs.

Looks like we are testing the upside. The bears are clearly so cautious that they are not staying in any down moves for long. 6000 is a magnet. Chalky you may well get your target. Also 13000 on the YM is holding.
 
reksa said:
The Greek deal looks to be priced in. To hit 6000 we need a day range of 80 points, which would be a big ask. No economic data today that could help it that much.

IMO it would be a tall ask for 6000 today.
Click to expand...

aye, all eyes on the DOW today after being closed yesterday. First of all it'll need to confirm yesterday's FTSE action and then need to go some (getting on for 200 points from Friday close) to persuade FTSE to 6000.
 
Looks like it's waiting for the Spanish Bond Auction results between 9:45 and 9:55am. I think it will try one more go back up. If this fails then it will have another go at 5896.
 
Not much of a move back up! Just one point! So it did go back and test 5896. Jon you may get your 10 am reversal 20 minutes late.

There's 389 lots sitting on the bid at 5888, which will act like a magnet until it's gone, but I think we shouldn't go much lower than 5884.
 
Dick Lexic said:
i put a post up so we'll see if thay respond🙂

i suppose it's down to timetotrade really ...they do the charts
Click to expand...

this was the reply from capital spreads...

back in the office and found out what happened on the 'spike'.

rather prosiacally a dealer, in adjusting the 'Fair Value' price for the FTSE (the adjustment in the Futures price to get the cash price), made a silly error. It was noticed immediately and all activated loss orders were reversed and clients recompensed. Unfortunately this also means that any sudden 'profits' were also removed (sorry)

Simon
 
Dick Lexic said:
this was the reply from capital spreads...

back in the office and found out what happened on the 'spike'.

rather prosiacally a dealer, in adjusting the 'Fair Value' price for the FTSE (the adjustment in the Futures price to get the cash price), made a silly error. It was noticed immediately and all activated loss orders were reversed and clients recompensed. Unfortunately this also means that any sudden 'profits' were also removed (sorry)

Simon
Click to expand...

Interesting, I never would have thought this was done by a dealer manually, and even then surely it should go through a checking stage.

Be interested in how the process works?

I know they track the closest Future contract and adjust the price to try and get close to the cash value. But I guess the contract and the index where not playing together and needed a fair value adjustment. I just would have thought this would be done automatically when the FTSE releases the price every 15 seconds.

Scary stuff 😱
 
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