Anyone scalping the FTSE Futures??

[SuddenDeath]

I was 'in' from the 61% Fib at 5766 but 'left' because it seemed to be struggling to get passed the 61% Fib in the other direction, and it was painting a slanted HS. Pity I didn't immediately go short and get in on the fun drop to the gap. Haven't re-entered yet. No wait, I'm having another 'go' from the gap at 5759.

My trades today: +1, -6, -6, +7, +6, +5, +2 = +9. Friday was +4 so +13.


I think what we have is a pullback in an uptrend (no target).

Edit: It went a bit below the gap and I've just noticed a gap in the down trend, so I'm out +1. It may still be up but this is not the safest time to enter if it is up.

great work et, considering it was such a tight range, 30pts

 

[et.]

great work et, considering it was such a tight range, 30pts

It may be easier in a range because in breakout situation the S/R levels can be on the other side of the chart, and are easy to miss, if they are on the chart at all (there is only so much saved chart history).

I'm now thinking that on my Fibonacci plot the 38%, 50% and 61% (and 100%?) are all decent levels. The trick is to align them with a chop zone / area where resistance is becoming support.

Just 'got in' at 5770 at 38% because the line is in line with the chop zone of the former HS. I'm immediately up +2 rather than -2, which is what I usually experience. Now if I'm wrong I'm +1.

Edit: 'out' at 5777

+1, -6, -6, +7, +6, +5, +2 , +1, +8, +7 = +25

Edit I: I didn't 'get in' on the latest Fib pullback. I don't have a target price for this bullish trend and the top is looking similar to the last one - slanted HS. not to say it won't go up though. That one went up.

 

[SuddenDeath]

the FTSE closing auction is taking a very long time. no closing price for FTSE100 its almost 5pm

 

[SuddenDeath]

FTSE pivots for Wed

Buy 5775
Sell 5769

 

[SuddenDeath]

ASX/200

Buy 4353
Sell 4349

 

[jungerns]

I went out for around 6 hours expecting no movement and was hardly disappointed......
These markets are on a knife edge with absolutely no forward momentum..

The slightest hint of bad news (and after all the last month as been bad news free overall) and these Indices are going to tumble across the board, so keep your stops tight if still in Bull mode......

Again only my opinion.....

 

[zorbas]

Hi, I'm new on this thread and the forum.

I agree, this market feels like it is waiting for the black swan to happen.
The upside is limited and usually done after hours following other markets, while the downside is usually steep, like a free fall.

JMHO of course, but I think that at these levels it pays to play the downside. Me at leat, I feel more comfortable like this.

Best

 

[Splitlink]

Made 12 points this afternoon but my overall loss was 13 points. A lousy day for me but not a disaster. Yesterday's +40 point trade was my incentive but the next one had better come soon! Today, I was overtrading by my usual standards.

 

[SuddenDeath]

Dow pivots for Wed

Buy 13,122
Sell 13,116

 

[SuddenDeath]

Dax Pivots for Wed

Buy 7012
Sell 7005

 

[bustech]

Morning All
BHP -1.66%
RIO -2.40%
Asian markets flat.

 

[SuddenDeath]

morning Bustech, morning everyone

 

[bustech]

morning Bustech, morning everyone

Morning SD

More of the same I would guess.

 

[et.]

Good morning.

Today I have contradictory signals.

I'm guessing it is going c5744 because that is the way it broke out. After that then up to 5789.

 

[jungerns]

Closed out my longer frame trade from 5798 for a +42

Price action slow across all the Indices at present.....

 

[et.]

Okay, I'm trying long from 5744. I could be out pretty quick...

Edit: I'm out for 5747... just noticed the gap in the preceding drop. I may be 'in' again soon tho.

 

[jungerns]

Okay, I'm trying long from 5744. I could be out pretty quick...

Edit: I'm out for 5747... just noticed the gap in the preceding drop. I may be 'in' again soon tho.

Why are you going against the trend....??

 

[bustech]

Why are you going against the trend....??

Morning jungerns and et

Got a feeling we might have a look at 5695 to 5705 today.

 

[et.]

Why are you going against the trend....??

I have an up target of 5789 and a down target of c5744. It has reached 5744 first so my hypothesis is that down move is the trend within the larger bullish trend.

I agree it looks very early so that could be wrong. The downside of c5744 could be a bit lower. I'd consider the prediction broken if we get a big move below 5739.

Just as I write that... we lurch to 5739.

 

[jungerns]

Morning jungerns and et

Got a feeling we might have a look at 5695 to 5705 today.

There was I asking why someone was going against the trend but I had effectively done the same by selling earlier my Short albeit in nice Profit already....