Anyone scalping the FTSE Futures??

Ok dow position in the money and dropping nicely. Both s&p and dow under their trendlines. Worst case scenario now is we sit here at these levels for the rest of the day. But they 'aint going up!
 
In rez
Will it get sold

266322
 
Looking at the volume, it does look like too many are calling the high here -
Also a double top did bring in shorts earlier, so stops on the other side of the high. If this was strong selling wise, i'm not sure why the controlling players would allow this rise against it?

But Like you guys, I am looking for shorts - ideally 26280/300 zone (would be nice)
 

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postman said:
Timing during the day - madness to trade the last 10 minutes even if you do know what the MOC is. The open brings good rewards, when the dow was in the 15,000 area any open below 100 would close the gap, anything over 150 would stay high for the day.

Seeing the same chart pattern over and over again is key.

Mainly just watching the buying dry up and thinking well theres only one way to go from here.

Plus I have a bias to short which worked very well on the ftse but when I trade dow not so much. these markets have been going up for over 100 years so thats definitely counter trend.
Click to expand...

I short FTSE this morning around 7183 , when it made a 2nd top on 5M, but somehow it got boosted up...

But I just found it hard to trade with this already long going uptrend, keep seeing signals of weakness

(And I do mean I see it, not I guess, this could come from my 'experience', and surely can be wrong)
 
wallstreetwarrior87 said:
Looking at the volume, it does look like too many are calling the high here -
Also a double top did bring in shorts earlier, so stops on the other side of the high. If this was strong selling wise, i'm not sure why the controlling players would allow this rise against it?

But Like you guys, I am looking for shorts - ideally 26280/300 zone (would be nice)
Click to expand...

Is the volume from those spread betting firm like IG reliable? At 5 minute period?
 
But rather than looking all over the place with volume - use it in the correct places (ie Vs opportunity/location). Not always going to work, but its a nice piece of extra info to have, especially when trying to spot when retail are jumping in too soon - ie, eager beavers.
 
BTW most of the stuff on the interweb regarding volume is incorrect, and will lead you down the wrong path. Volume evolves, so big volume wont always mean strong - work that out lol, but nearly all articles written on volume think that this is indeed the case.
 
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