Anyone scalping the FTSE Futures??

Latham01 said:
Thank you to both Martin and John, I appreciate your time, your replies have definitely clarified things for me.
Click to expand...

Latham, any time, we are all here to help each other. I am taking the day off today chaps , as a rule I never trade on contract rollover day. It has being a great week and many thanks to all who helped. I will spend the day looking at charts and chilling out.
 
dc2000 said:
hi martin no they dont I have to have a break on the bars

I see prices have printed yet another high today, this pattern in my method is rare ish but is special because of what comes next

I think you said it would come october
Click to expand...

DC your predictions this week have been spot on. I really need to try and move away from scalping as at my age I am now finding it too tiring. Have you any advice on what is the best material to read to start moving more towards your style? In particular , the targeting aspect.
 
mazdaq100 said:
Volumes are pitiful this morning, think I will sit on the sidelines for the moment.
Click to expand...

mazdaq - dumb suggestion but make sure you have changed your charts and prices over to the December contract. And watch out for fireworks between 10:10am and 10:20am when the old contract expires. Then a change in direction. At this point it looks like it should be up after 10:30pm, but watch the price action and trade it depending on direction.


And yes, I did say that I thought it would go back down again in October. But remember I am a pessimist and the US is full of optimists.
 
MartinC-J said:
mazdaq - dumb suggestion but make sure you have changed your charts and prices over to the December contract. And watch out for fireworks between 10:10am and 10:20am when the old contract expires. Then a change in direction. At this point it looks like it should be up after 10:30pm, but watch the price action and trade it depending on direction.


And yes, I did say that I thought it would go back down again in October. But remember I am a pessimist and the US is full of optimists.
Click to expand...

Oh my word, you can tell I've only been doing this a few months, still looking at the September contract! December chart looks more like it! Thanks Martin. :eek:

Regarding a fall in October, I'm also quite pessimistic about the markets in the short to medium term - I've been thinking that the markets have a lot further to fall for a while now. I've no idea when it will happen but I'm convinced there are hard falls to come. The FTSE and Dow seem to be forming a bear flag on the daily charts.
 
Tower this is ghostrider requesting a flyby

Negative ghostrider the FTSE pattern is full

sorry chaps couldnt help myself



the Dow only has to print a price of 11443 to fill the pattern


will be back later to answer the questions
 
dc2000 said:
Tower this is ghostrider requesting a flyby

Negative ghostrider the FTSE pattern is full

the Dow only has to print a price of 11443 to fill the pattern
Click to expand...

Being a newbe....this is enigmatic for me....can someone break the code and explain what above actually means...
 
dc2000 said:
Tower this is ghostrider requesting a flyby

Negative ghostrider the FTSE pattern is full

sorry chaps couldnt help myself



the Dow only has to print a price of 11443 to fill the pattern


will be back later to answer the questions
Click to expand...

DC, if my eyes don't deceive me , this consolidation pattern has now formed a classic head and shoulders pattern!!!! as long as it hold the high more or less where we are now, then the shoulder profile is in place.
 
MartinC-J said:
DaddyJohn, I think Latham was thinking more short term. What do you do to recognise a market that is now ranging instead of trading for the very short time frame?

I think it boils down to the price action on the 1 min chart. If the bollinger bands flatten out, and you get a series of 1 tick breaks higher and lower, then you are ranging for a period of time. The end of that range is confirmed by a breakout and retest of the break.

ps I like the bit about Money Flow Index. I haven't looked at it before.
Click to expand...

MFI , is also very useful in terms of divergence. Price is going up , but MFI coming down for instance. I look at this on the 60 min charts, but can also be useful on 5 min charts if we are in a ranging day.
 
watch out for the fakeout i reckon. i favour risk off into the weekend. would you wanna hold risk over the weekend? is the mkt still short?
 
short now. entry 5366. stop 5386.
fakout above the 5399 level from this morning. such a rapid retreat after the numbers i'd be amazed if we didnt tank from here. tight stops still order of the day tho. mkts fkin mental atm
 
Last edited:
motion100 said:
short now. entry 5366. stop 5386.
fakout above the 5399 level from this morning. such a rapid retreat after the numbers i'd be amazed if we didnt tank from here. tight stops still order of the day tho. mkts fkin mental atm
Click to expand...

Good call motion 100. The lower high printed after the UoM number confirmed by the break below 5364.5 at 15:22. Target 5327 the swing low at 13:10. Maybe a bounce there and possibly another try down.

ps My numbers are always the FTSE futures price and not the cash.
 
quote was from top gun

pattern refers to "trend pattern" only a few will know what that means


here's a sum for ya 11514.2 X sqrt(0.885)
 
yeh i saw the same thing. i'm selling this bounce too. accelerate from algos in to the close on the ftse and the us will drift lower into the close on v low friday volume. thats my best guess. trailing stops for when i'm wrong
 
motion100 said:
yeh i saw the same thing. i'm selling this bounce too. accelerate from algos in to the close on the ftse and the us will drift lower into the close on v low friday volume. thats my best guess. trailing stops for when i'm wrong
Click to expand...

you still think thats the case?
 
You must log in or register to reply here.

Similar threads

O
Scalping
Replies
7
Views
4K
roberk
R
O
Futures scalping
Replies
10
Views
4K
neil
neil
D
Pivot Point Scalping on the ES
Replies
7
Views
7K
dancorcal
D
S
Scalping the Dow
2 3 4
Replies
67
Views
20K
Dave1971
D
O
Futures micro trading (scalping)
Replies
1
Views
3K
SuperDriveGuy
S
Top