Anyone scalping the FTSE Futures??

In terms of Elliot waves I think we have entered Wave 4 (pullback) on 2hr.

The EW leads from the highest level at which it is identifiable, so on my interpretation, as it progresses the lower timeframes take it in turns to go through their "Wave 4" and the only Wave 4 that delivers the real final Wave 5 is the one at this highest timeframe. That timeframe is 4hr chart (Usually it is straightforward like this, though as usual cannot be sure 100%). The lower timeframe wave 4s become zig-zags.

So right now it's 2hr timeframe's turn to have its Wave 4. Perhaps it will take in the 4hr too, have wait and see on that.

Wave 4 should ends 23-38% of whole move.

I think there could be support for Wave 5 at or before 23% pullback on this one, which is 5876.

Wave 5s don't always reach new highs but if it does 5933 could be it.


Dick Lexic said:
you'll get all the time frames you need here et.......free eod

Incredible Free Charting Software
Click to expand...

Great link, thanks. I'll check it out over the weekend.
 
et. said:
In terms of Elliot waves I think we have entered Wave 4 (pullback) on 2hr.

The EW leads from the highest level at which it is identifiable, so on my interpretation, as it progresses the lower timeframes take it in turns to go through their "Wave 4" and the only Wave 4 that delivers the real final Wave 5 is the one at this highest timeframe. That timeframe is 4hr chart (Usually it is straightforward like this, though as usual cannot be sure 100%). The lower timeframe wave 4s become zig-zags.

So right now it's 2hr timeframe's turn to have its Wave 4. Perhaps it will take in the 4hr too, have wait and see on that.

Wave 4 should ends 23-38% of whole move.

I think there could be support for Wave 5 at or before 23% pullback on this one, which is 5876.

Wave 5s don't always reach new highs but if it does 5933 could be it.
Click to expand...


Also, my interpretation anticipates the much choppier chart weeks, as higher timeframe Wave 4s take much longer than lower Wave 4s.

On 4hr chart I think we are now at the equivalent spot of 07/09/12, at the end of Wave 1's wave 3. Then we pulled back 23% to support, to a wave 5 high which was also the wave 1 of the new Wave 3. This push up aligned with the 03/09/12 peak, this time the Wave 5 of this Wave 3 should get its kick from the August highs.

Then after that we have to have a period of epic chop because the 4hr chart EW enters Wave 4. This will get a kick from the August highs and we go into Wave 5.

Having said all that 5933 will be too low unless Wave 5 is truncated. Double top, perhaps.
 
et. said:
Also, my interpretation anticipates the much choppier chart weeks, as higher timeframe Wave 4s take much longer than lower Wave 4s.

Then after that we have to have a period of epic chop because the 4hr chart EW enters Wave 4. This will get a kick from the August highs and we go into Wave 5.

Having said all that 5933 will be too low unless Wave 5 is truncated. Double top, perhaps.
Click to expand...

Does S&P500 wave count confirm FTSE count? should they both have the same wave count/turning points
 
why do CNBC use the December Dow futures rather than September?

Sept o/i 106,919
Dec o/i 14,816

need to ad 75pt to the CNBC figure to get cash dow,
 
SuddenDeath said:
Does S&P500 wave count confirm FTSE count? should they both have the same wave count/turning points
Click to expand...

I don't know. This is first time I've looked at S&P500... added it to my watch list.

On S&P500 4hr since August we look to be in a Wave 5. We've had 61% Wave 2, and then we had 38% Wave 4 correction. However, if the EW is at a higher level then the last 38% correction was a Zig-Zag not a Wave 4.

On the weekly chart Wave 4 38% retrace occurred this march. Now in Wave 5.

However, there is an even larger EW viewable at monthly level, from July 2010, which places us in middle of Wave 3. I've not got a higher than monthly chart.

Have to say the S&P has the same upward parabolic curve as the 5 min FTSE did last night. That would be consistent with a monthly level Wave 3.

On the monthly the bull run from July 2010 to April 2010 would have to be a Wave 5 of the previous EW. This would also be Wave 1 of this one.
 
samirs said:
India 'will become world's biggest economy in less than 40 years'

India_2339178b.jpg
Click to expand...

I would be 120, by then. I think I'll be safe! :D
 
et. said:
I don't know. This is first time I've looked at S&P500... added it to my watch list.

On S&P500 4hr since August we look to be in a Wave 5. We've had 61% Wave 2, and then we had 38% Wave 4 correction. However, if the EW is at a higher level then the last 38% correction was a Zig-Zag not a Wave 4.

On the monthly the bull run from July 2010 to April 2010 would have to be a Wave 5 of the previous EW. This would also be Wave 1 of this one.
Click to expand...

I always guessed US were primary market and UK secondary, and UK tracks US, I analyze US dow/sp500 and then use that knowledge to trade FTSE100
 
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