Anyone scalping the FTSE Futures??

[counter_violent]

Because fundamentals havent been driving this market for years. Its all propped up by the Fed until confidence comes back.
Every time it falls it rockets back up again - Without fail!
This is a typical Monday fall followed by a drop overnight and a gap up on Tuesday, you must have seen this pattern a hundred times before.

One small problem with this theory.



It's already Tuesday.

 

[luckyvictor]

Because fundamentals havent been driving this market for years. Its all propped up by the Fed until confidence comes back.
Every time it falls it rockets back up again - Without fail!
This is a typical Monday fall followed by a drop overnight and a gap up on Tuesday, you must have seen this pattern a hundred times before.

I think I can agree on you, but this time seems like we have serious problem, the ISM data, don't know whether it will make a difference

 

[luckyvictor]

One small problem with this theory.



It's already Tuesday.

I also found another bug, yesterday was China holiday as well as Hong Kong, and mostly this week I think, so we don't get too much overnight (asian) activity as two players are off

 

[cantagril]

Long CAC just now at 5590 TPs 5620/50/80

A stellar performance there. Stopped out on that one for -15 per . In again at 5540

 

[inzimam]

Dax looks so weak... Damn

 

[luckyvictor]

We are in a downtrend, the turning point may be ADP non farm in the afternoon

 

[richardb37]

on the ftse i've got poss support at S3 pivot around the 250, if that goes then its 220/200 zone for a fall of about 2% on the day before a bounce;

a bit of reading whilst i was watching my shorts...

October Effect: Definition, Examples, and Statistical Evidence

The October effect is the theory that stocks tend to decline during the month of October. This supposed market anomaly, however, has little data to support it.

www.investopedia.com

enjoy

 

[inzimam]

 

[inzimam]

That's a long term trend. If that holds we might be good for a decent bounce

Long Dow at 420

 

[inzimam]

Ok. Forget it. Out +20

 

[richardb37]

trying a long ftse from 197 see if we can get a bounce into the us open

 

[richardb37]

tgt 250 stop 185 btw

 

[luckyvictor]

tgt 250 stop 185 btw

What is ur trading time frame? Do u expect it to reach 250 today?

 

[richardb37]

well didnt like that .. took off a t 190

 

[richardb37]

What is ur trading time frame? Do u expect it to reach 250 today?

i use the h1 for reference support and resistance and a renko 25 tick with bricks set to to 2 points for entries and exits. a retrace to 250 would have been approx 50% fib on the morning leg down and 38.2 retrace from yesterdays close

 

[richardb37]

seemed reasonable at the time

 

[luckyvictor]

Just my personal observation, FTSE doesn't have that strong rebounce in the afternoon, unless the US has a really really strong rally.

And from the current sentiment, it would be good for Dow to not drop even further

 

[inzimam]

i'm getting a royal screwed on my dax position...squeezed to a pulp

 

[luckyvictor]

i'm getting a royal screwed on my dax position...squeezed to a pulp

Dow is at critical support already, but dax is still far from there, 11800 I reckon.

How do u see the move of Dow this afternoon and how much it may affect Dax?

 

[cantagril]

i'm getting a royal screwed on my dax position...squeezed to a pulp

Fear not! Dentist is back with a wodge of p&f-ery on his thread. It looks like he's fairly certain that it'll go up...or down...one of them anyway If it's any consolation, I added another one to my duff Cac long, and that too is looking like utter crêpe.