Anyone scalping the FTSE Futures??

So far a 100% retrace to the out of hours high yesterday around 8:30pm.

Now where from here. No decent retrace on this mornings rally. So my bias is short.

But now will wait for the German sentiment.
 
we may have seen the high now it has closed the gap from yesterday - thoughts anyone?
 
It only tested the gap once. In other words, on the 5 min chart, I expect it to make a proper attempt to test the 5323 high again. One way up day rules still apply unless the 23% retrace at 5291 fails to hold. At least until about 1:30pm when the US market influence takes over.

But also volumes have dropped below 50 lots per minute, so you should really not be trading as anything could happen when volumes are this light.
 
tuesday plan again sell in to the afternoon. watch for the late rally on FTSE

wednesday FTSE pump n dump or just sell everything including the kitchen sink.
 
appologies for not replying to PMs Ive received seems all our offspring require help all at the same time:confused:

Anyway heres the skinny as they say
back in a few days
 

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MartinC-J said:
It only tested the gap once. In other words, on the 5 min chart, I expect it to make a proper attempt to test the 5323 high again. One way up day rules still apply unless the 23% retrace at 5291 fails to hold. At least until about 1:30pm when the US market influence takes over.

But also volumes have dropped below 50 lots per minute, so you should really not be trading as anything could happen when volumes are this light.
Click to expand...

Martin, it is interesting that the FTSE and S&P have closed the gap, but Eur / Dollar hasn't yet. Eur/ Dollar still has another 30-40 pips to go. This could tie in with your retest of this high theory.. as soon as Euro closes this gap , I am short.
 
DaddyJohn said:
Martin, it is interesting that the FTSE and S&P have closed the gap, but Eur / Dollar hasn't yet. Eur/ Dollar still has another 30-40 pips to go. This could tie in with your retest of this high theory.. as soon as Euro closes this gap , I am short.
Click to expand...

Good call
 
I was just typing that it hadn't sold off over lunch, and then we have a news event. Eu systemic risk board issues first ever warning. Caused a temporary blip down, and it was bought up. At this point more up looks likely unless it breaks down in the next few minutes.
 
MartinC-J said:
I was just typing that it hadn't sold off over lunch, and then we have a news event. Eu systemic risk board issues first ever warning. Caused a temporary blip down, and it was bought up. At this point more up looks likely unless it breaks down in the next few minutes.
Click to expand...

Martin, up move was about swiss NB. This allowed the Euro to pile up and close it's gap. ALL gaps now filled ,
 
DaddyJohn said:
Martin, up move was about swiss NB. This allowed the Euro to pile up and close it's gap. ALL gaps now filled ,
Click to expand...

gap filled 13.40pm.... so we have moved down a bit since then.. am just going to watch price action on US open ,
 
Thanks DJ. What are your reasons for watching the euro? And what effect does it have on the index futures?

On the FTSE, we got a bounce off the 50% fib level (high 5323 at 11am , low 5189 at 8am). What was interesting on the price action was that the three 5 min candles (ie the 14:40, 14:45 and 14:50)that approached that level all pulled back. It shows how many people were looking for that bounce off the 50%. Every time it got close it was bought up.
 
this is the late rally DC spoke of... clearly it is the oil options dynamics... as traders push oil price up to squeeze options traders... where it will stop... no idea...
 
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