Anyone scalping the FTSE Futures??

[MartinC-J]

cash open 5091 , if we assume this is the low and the average range for the last 20 days is 147 pts, we have a potential high at 5238. But given how far we have come so far, perhaps highs could get to to 5250 range , perhaps a close around 5200. Price currently at 5200, so we are moving now into selling territory, Will be watching my emas for confirmation.

We've got quite a strong trendline supporting the price on the 5MC. So we could see your target of 5250. But too many news events going on for me. I think it should be sideways (wide range) for the rest of the day.

If it breaks below 5176.5, we could see it go down to 5150 again.

 

[reksa]

At least IG will stop you out during out of market hours, whereas futures market only works when it's open.

Oh i thought you used the IG markets CFD?
Or you just have it for level two data.
Just got the open ecry demo.

 

[dc2000]

right now looking for the highs
FTSE 5275-5304 area
DOW 11242-11264 area

Canyoning is climbing up a fast moving waterfall in a wetsuit for fun annalogy for todays trading maybe

and a sandwich for lunch

 

[DaddyJohn]

right now looking for the highs
FTSE 5275-5304 area
DOW 11242-11264 area

Canyoning is climbing up a fast moving waterfall in a wetsuit for fun annalogy for todays trading maybe

and a sandwich for lunch

We also have currency options expiries today at 10am New York time... so figure Dollar is been pushed lower to squeeze. Makes some sense that given the news from Germany this morning the Euro should be going down (but isn't)... so maybe we will see a turn at 10am NY time, ... is that 3pm here??? just in time for Consumer confidence report

 

[MartinC-J]

Oh i thought you used the IG markets CFD?
Or you just have it for level two data.
Just got the open ecry demo.

You can trade the FTSE cash out of hours on the CFD platform with IG Index. It's the same as the spreadbetting platform. But I really have it for L2 data for individual UK shares.

Good luck with the OEC platform, if you need any help with it just shout.

As for today, that's the third EU news event b*****cks that has killed a profitable trade. Can anyone with anything to do with europe, please just stand up and say what you have to say now, instead of dripfeeding it throughout the day. They must have a link to my trading platform to check when I am up, and then they release some milk toast comment that can mean anything and nothing.

At 15:13 you can see the news comes out by the sudden reversal on the 1 minute candle. It took Ransquawk 3 minutes to tell you that Mrs Merkel had ordered a pizza without any greek olives on it!!!

 

[dc2000]

the FTSE is about to trigger a very nice three pattern to provide a very nice one way street in to thursday

just hit as I type

target 4965

 

[DaddyJohn]

It was weird today, it was one of those days where even though it went up, it felt like it wanted to come down..... Did any one else feel that?

We had currency option expiries , but also there is heating oil and nat gas expiries, after the close in th US today.. So that has been driving price up I think.

There was a similar rally last week when crude oil options expired and oil pushed higher for a squeeze. The next day .... Whoomph... Ftse shot down.

 

[DaddyJohn]

Ok, I have been doing some study to develop my Fib skills better,, and by applying these new found skills I have noticed the following (big picture stuff oooeeerr)

1) If you take the top of Dec 1999 to the top of June 2007 as 100% , then the June 2007 top to the top this year is a 50% extension of Fib time !!!

2) The 01/11 - 05/11 top formation is a 75% retracement of the 12/1999 - 03/03 downward move

3) The 08/11 lows are 50% retracement of the 03/09 low to this years highs.

How does it help in terms of putting bread on the table tomorrow?? no idea.

But thought it was a bit spooky. Especially the Fib time stuff which I have never ever considered before.

 

[orangetrader]

It was weird today, it was one of those days where even though it went up, it felt like it wanted to come down..... Did any one else feel that?

We had currency option expiries , but also there is heating oil and nat gas expiries, after the close in th US today.. So that has been driving price up I think.

There was a similar rally last week when crude oil options expired and oil pushed higher for a squeeze. The next day .... Whoomph... Ftse shot down.

I did also. There was a fairly high TRIN reading early on in the day but it was pretty much down hill from then. I was looking for the reversal this afternoon, there were a couple of small trendline breaks/decent reversal bars but no real breaks/closes below the ema so I only did a small counter-trend scalp

all the best

 

[DaddyJohn]

I did also. There was a fairly high TRIN reading early on in the day but it was pretty much down hill from then. I was looking for the reversal this afternoon, there were a couple of small trendline breaks/decent reversal bars but no real breaks/closes below the ema so I only did a small counter-trend scalp

all the best[/QUOT

In my experience days like this are a precursor to moves down.

 

[orangetrader]

I did also. There was a fairly high TRIN reading early on in the day but it was pretty much down hill from then. I was looking for the reversal this afternoon, there were a couple of small trendline breaks/decent reversal bars but no real breaks/closes below the ema so I only did a small counter-trend scalp

all the best[/QUOT

In my experience days like this are a precursor to moves down.

and for anybody who follows taylor trading technique, there should be a good chance of some follow-through but perhaps more importantly reversal (ps I'm no a taylor trading technique expert)

 

[DaddyJohn]

For those interested I am posting a graph which looks at the price action in Spet in terms of the cumulative rallies and declines day to day. So a rally is today high minus yesterdays low, a decline is yesterdays high minus todays low. I then do a cumulative total daily for rallies and declines and then take them as a ratio. If the ratio is above 1.0 then we are in a rising market and below 1.0 is obviously the opposite. You will notice from the graph (no surprises) that the ratio had been below 1.0 all of September. However, it is rising close to 1.0 now....but dont get too excited that we may break out to the upside.. if you look carefully then you see each rally recently is having less and less impact on the upside. Clearly we are approaching a critical point. If you think it would help me to post this every day.. I am happy to if it helps anyone.

p.s taking a day off today to enjoy the sunshine

 

[dc2000]

not expecting much this morning just a few ops to get on board once US open expecting DOW to mirror move of last nigh from 7:20 same time frame same points

if FTSE prints 304 today then the big move tomorrow and down into Friday

 

[JeanM]

Just to clarify. Does that mean you expect to be long until 7.20 and then short as of yesterday? Thanks.

 

[DaddyJohn]

right now looking for the highs
FTSE 5275-5304 area
DOW 11242-11264 area

Canyoning is climbing up a fast moving waterfall in a wetsuit for fun annalogy for todays trading maybe

and a sandwich for lunch[/QUOTE

Just to be clear I think DC is quoting FTSE cash and Dow futures...

hope you enjoying the holiday DC

 

[orangetrader]

For those interested I am posting a graph which looks at the price action in Spet in terms of the cumulative rallies and declines day to day. So a rally is today high minus yesterdays low, a decline is yesterdays high minus todays low. I then do a cumulative total daily for rallies and declines and then take them as a ratio. If the ratio is above 1.0 then we are in a rising market and below 1.0 is obviously the opposite. You will notice from the graph (no surprises) that the ratio had been below 1.0 all of September. However, it is rising close to 1.0 now....but dont get too excited that we may break out to the upside.. if you look carefully then you see each rally recently is having less and less impact on the upside. Clearly we are approaching a critical point. If you think it would help me to post this every day.. I am happy to if it helps anyone.

p.s taking a day off today to enjoy the sunshine

DJ certainly useful. So I take it that you are looking for an inflection point with regards to counter-trend strength. Are there any other ways to read it - divergences etc???
thanks
John

 

[DaddyJohn]

not expecting much this morning just a few ops to get on board once US open expecting DOW to mirror move of last nigh from 7:20 same time frame same points

if FTSE prints 304 today then the big move tomorrow and down into Friday

DC - I am anticipating a move down from 304 , I can tsee it getting much higher personally.. is this what you are refering to above?

 

[dc2000]

Just to clarify. Does that mean you expect to be long until 7.20 and then short as of yesterday? Thanks.

was expecting short from yesterday price on FTSE has changed so from today into friday low
what Im expecting on the DOW after the open is a mirror move of last nights from 7:20pm if you overlay last nights move on todays so 7:20pm last night becomes 2:20pm today

 

[dc2000]

this is my trading room for the day

its the only place I can get a decent signal

 

[motion100]

this is my trading room for the day

its the only place I can get a decent signal

it's a tough life!

im short looking to add on any us opening rally. this mornings higher levels were rejected pretty quickly. better than expected durable goods data shrugged off rapidly. strong trendline broken to downside (very similar manner to yesterday albeit earlier in the day) - all pointing to a selloff for me.

lets not even start of the fundamentals!