Anyone scalping the FTSE Futures??

et. said:
I don't use abc. I use the Fibonacci to distinguish between Wave 2 (61% + pullback) and Wave 4, (23-38% pullback) and deduce the Elliot wave from that. The Wave 4s will be a zig-zag in Wave 3 until you get to the Elliot wave at the highest timeframe it can be observed - that is, it won't be observable on the timeframe above the last one on which it can be observed.

After 4hr I have Day timeframe (*6 4hr). There is no Elliot wave at that timeframe beginning 11/09/12 as it is all one bull run. Perhaps it can still be observed on 8hr timeframe but I don't have that.

I think this would have to be 4hr Wave 1 or Wave 3 (on my count Wave 4 corrections can be Wave 1s of the reverse).

Sometimes my Wave 1s pull back 61% or more twice, which may be where your abc comes from.
Click to expand...

possible abc....
 

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Dick Lexic said:
possible abc....

145062d1347888640-anyone-scalping-ftse-futures-ew4.gif
Click to expand...

Interesting chart.

My 4hr chart doesn't have a reverse candle after the two large bullish candles. On your chart the bull run after that looks like Wave 5. Then we had one or two Wave 1 pullbacks (61%), making this next one Wave 3 - on your chart.

I had to wait for end Friday/today for Wave 5.
mr2t92.png
 
VIX above Fridays high 14.71

IG's VIX has not taken out fridays high, go figure.
 
Last edited:
Dick Lexic said:
et i agree up to wave 3 but your wave4/5 is my a/b of 4 ...but who knows at least we closed the gap:)
Click to expand...

Day is *6 4hr chart, whereas 4hr is 2* 2hr. I can miss timeframes with this interpretation.

It's possible Wave 1 is distinct on the 12 hour chart, so this could be Wave 4 pullback on 12 hour, which will be followed by Wave 5.

Perhaps an exit and retest of the channel for 12hr Wave 5?
mr2t92.png


I'd probably consider that hypothesised 12 Wave 5 as its own EW on a lower timeframe.
 
et. said:
Yes. I think we should and we should continue down after it, but I'm not sure how much we're going to retrace at the gap. Currently I think 5912 is as good as the day high.
Click to expand...

I still think this may be true.

Gap on my chart is now completely closed and I think the low (temporary) is in.

I think this bullish move should stay below 5912 - in which case this could be very slow going - and then we drop further. That's a working hypothesis rather than a prediction though. The prediction is what the chart is already showing: sort of going up.
 
Elliott wavers speak a whole different language.

FTSE100 is 87% bullish for Tuesday, but VIX > 14.71 is warning sign for indices, lets see how VIX closes.
 
et. said:
I still think this may be true.

Gap on my chart is now completely closed and I think the low (temporary) is in.

I think this bullish move should stay below 5912 - in which case this could be very slow going - and then we drop further. That's a working hypothesis rather than a prediction though. The prediction is what the chart is already showing: sort of going up.
Click to expand...

VOD below 100ma on daily 178.4
 
Never seen the major Indices so quiet...........
Twice I've refreshed the Browser thinking that the laptop has frozen............
 
We got as high as 5903 from 5883, which was just over 61% from the day high. Then we did drop.

Sorry about confusing language here, as it makes it sound like I wasn't bearish. I've been bearish since 5933. The prediction was for a temporary bullish move, which has occurred. I just wasn't sure whether the 5912 would be breached by the temporary move before the drop.

I think this bullish move should stay below 5912 - in which case this could be very slow going - and then we drop further. That's a working hypothesis rather than a prediction though. The prediction is what the chart is already showing: sort of going up.
Click to expand...


I think this plunge will reach some support at 5871.
 
We're at 5871. I would now expect 61% retrace, or 50% to be on the safe side.

If this works I'd be amazed, again. However, this one is not my trick so if I told you I'd have to provide I'd a link to a youtube video, but the guy in it is selling subscription for his website so I don't know if I'm allowed to do that here.

Let's see if it works again.
 
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