Anyone scalping the FTSE Futures??

[et.]

Looks like a possible HS coming. 5790 top of right shoulder.

 

[Dick Lexic]

Good morning all.



I'm not used to looking for them over long time periods on low timeframes, as 1hr is over a few weeks. Too messy.

I'd look at the day chart.

On the day a possible count from 13/8/12 to 5/9/12 is 1, 3, 5 with a zig-zig in wave 3. Supporting this, perhaps, Wave 2 pulled back 100% while Wave 4 pulled back to 38%. We'd now be in Wave 1 of a new EW. If that is true then looking at at least 5950s. I'm not convinced totally yet though.

would you not expect abc after 5 on the daily?

sorry just noticed you are

 

[SuddenDeath]

UK Data Preview - 7th September 2012 - YouTube

 

[SuddenDeath]

not the best start. How do you guys view the last hrs trading. Is it a clearout,a doji,a spike?

I look at dow /sp500/gdow and use them to trade FTSE, i have a ratio which i calculate daily.

Dow after big move yesterday normally consolidates/digests creating a flat/down CLOSE.

FTSE at current high 5807 = Dow up 54pts

 

[barjon]

damn - she calls me away - hedged at 310

 

[SuddenDeath]

Again Sterling has pushed forward against the Dollar and booked another 30, on the way to 1.63..........
Whats pushing it forward........?? Nothing obvious that I can see or read.

good call jungerns, know you were looking for strong gbpusd a few days ago

 

[bustech]

long 775 - hedge with dow if wrong

At that price I have FTSE minus 11 to DOW current price.

Currently long ASX and short FTSE, will hold for NFP.

 

[et.]

would you not expect abc after 5 on the daily?

sorry just noticed you are

Abcs occur in Wave 2 and Wave 4. Wave 4 retrace can sometimes be the Wave 1 of the new reverse EW (when previous trend's Wave 5 is truncated). That's how it seems to me.

Right now, the last bear run from top is, I think a Wave 1, while the pullback I'm expecting to 5790 would be Wave 2. On 1 minute chart the pullbacks have been to 38% and 23%. Until we get a c61% pullback that retest resistance level I'd not consider Wave 1 complete... at least that's what I think about EW right now.

 

[Dick Lexic]

not the best start. How do you guys view the last hrs trading. Is it a clearout,a doji,a spike?

looks like all three at the mo flash

 

[Dick Lexic]

Abcs occur in Wave 2 and Wave 4. Wave 4 retrace can sometimes be the Wave 1 of the new reverse EW (when previous trend's Wave 5 is truncated). That's how it seems to me.

Right now, the last bear run from top is, I think a Wave 1, while the pullback I'm expecting to 5790 would be Wave 2. On 1 minute chart the pullbacks have been to 38% and 23%. Until we get a c61% pullback that retest resistance level I'd not consider Wave 1 complete... at least that's what I think about EW right now.

counting 5 now on i min?

 

[barjon]

At that price I have FTSE minus 11 to DOW current price.

Currently long ASX and short FTSE, will hold for NFP.

yes, not enough of a weakness difference for a straight pair. I was playing the 9:00am reversal - would have hedged at 770 had she not called. Anyway, effectively in a pair now ftse long from 5775, dow short from 13310 so have to live with it.

 

[et.]

counting 5 now on i min?

I was but that wouldn't conform to the rule Wave 2 must pull back at least 61%. however if you look close it could be made up of 3 successive 12345s.

Looks like a mini-IHS bottom - head to neckline projects 10 point move up to 5790.

 

[zorbas]

damn - she calls me away - hedged at 310

Hi Barjon,

I experimented a little in the past with pair trades like this one to hedge a position.

It was not obvious to me though, when you close the hedge and if take any more action on the primary position.

Do you have any rule of thumb of how you handle the hedge position ? Do you have a stop loss on the primary and/or hedge position or no ?

 

[SuddenDeath]

Spy ====ftse 5810
gdow = ftse 5850

 

[bustech]

yes, not enough of a weakness difference for a straight pair. I was playing the 9:00am reversal - would have hedged at 770 had she not called. Anyway, effectively in a pair now ftse long from 5775, dow short from 13310 so have to live with it.

Closed the gap by 26 since the close in Sydney.

 

[Dick Lexic]

I was but that wouldn't conform to the rule Wave 2 must pull back at least 61%. however if you look close it could be made up of 3 successive 12345s.

hang on et .....i'm getting lost....we are currently on B looking for C at around 790 which would be 62% of 1

 

[SuddenDeath]

i found a difference market on IG DOW minus FTSE

 

[et.]

hang on et .....i'm getting lost....we are currently on B looking for C at around 790 which would be 62% of 1

Maybe my understanding of EW is incomplete. I don't look for ABC between wave 5 and reverse 1. I know Wave 2 and 4 corrections have ABC.

I just look for a reverse after what might be Wave 5.

 

[barjon]

i found a difference market on IG DOW minus FTSE

aye, it doesn't seem to reflect the same as my figures though, so i stick to numbers

 

[SuddenDeath]

et : 所以，我认为，道指走高ABC

Dick :市场处于强势欧元和美元艾略特波浪算好

et: 此交易后放开的他/她吧，并满足一些人妖