Anyone scalping the FTSE Futures??

SuddenDeath said:
et, how did u come to the ftse level 5834 ? i got there by converting contract fib levels from ES`Z
Click to expand...

At one of those generic trading sites that explain what a head and shoulders is, they say that someone said to work out how far the price will travel after breakout over HS neckline...

1. find the distance between neckline and top of head
2. subtract that from the neckline

The neckline is c5960, - 24 is 5936. (Sorry if the typo confused).

If you backtest you'll find it's pretty accurate. Sometimes it does run short, other times it goes much further.
 
barjon said:
ok, et, I'll shut up now. Hope it stimulated the grey cells a bit and apologies if I was being a bit presumptious.
Click to expand...

Your advice was spot on, gave me important reminder of importance of reward to risk ratio and that the exit matters most (two principles are linked). (y)

You did fail to mention one problem I have which is I think I know everything... Tut tut ;)
 
et. said:
At one of those generic trading sites that explain what a head and shoulders is, they say that someone said to work out how far the price will travel after breakout over HS neckline...

1. find the distance between neckline and top of head
2. subtract that from the neckline

The neckline is c5960, - 24 is 5936. (Sorry if the typo confused).

If you backtest you'll find it's pretty accurate. Sometimes it does run short, other times it goes much further.
Click to expand...


thanks, good stuff. i never saw that head shoulders
 
If we get there, look what lines up with the 8546 line in the price action.

1zwgub4.png


That's the combination that worked for 22/08/12 (4hr chart). Although then it lined up even more perfectly.

It's only hypothesis that we'll get a kick up there... but has some support, I'd say.
 
Really horrible chart. So many bullish channel lines. Keeps pulling the rug from under the bears. I can't call a bullish reverse either without risking the same apparent error that made me call a drop. Keeps taunting me with some large bearish candles, then nibbles them away again.

Anyone left watching think this is going up?
 
I am probably making my calls too early and got lucky that my 5933 didn't change its mind.

I should say I now am bullish with a preliminary signal to c5888. If it gets there, I expect a reverse. Earlier I was bearish with a preliminary signal to c5846, which didn't materialise.

I'll use this language in future calls.

I'm not making a prediction of trend but of where the reverse will be if the trend gets us there.

If this latest prediction doesn't work then I can't explain why it works sometimes and not others.
 
Last edited:
morning samirs and jungerns

no toe in water yet,

would want to go long around 5835

Pivot
Buy 5866
Sell 5862
 
Last edited:
Morning SD and jungerns

Bit late on line
BHP +0.77
RIO +0.96
Asian markets at 4 month highs, we love the BOJ, bigger market mover than the FED
 
Last edited:
Morning all.

Sorry I got the HS call wrong yesterday. I really thought it was bearish.


Still exploring the strategy that got me 5933 and some other numbers almost perfectly, but fails at other times.

A call based on the strategy failed last night so the method cannot give a definite trend signal. I think it's better to think of it as an S/R area if the price gets there, rather than a trend signal.

If a higher timeframe signals a reverse trend before the lower timeframe has reached it's reveral, then the trend will move with the higher timeframe. Since ultimately we cannot know the highest timeframe, future is unknown.

I believe "trend cannot definitely be predicted" . I believe that sometimes it can be but that sometimes does not mean always.


bullish with a preliminary signal to c5888. If it gets there, I expect a reverse.
Click to expand...

We got there and we got an 'M' on 5888, but it went as high as 5895. We've just had a retest of 5889, suggesting that area was important resistance.

If this now reverses 10-15 points I'll be happy.

We did go +7 over my target though.

I don't know why that happens, in future I'll say this is an "area to look" for a reverse.

I really want to stick to this strategy as it's pretty good.
 
SuddenDeath said:
jungerns did u watch the video i posted yesterday about finding support and resistance
Click to expand...

No, but only as I haven't got around to it yet.....
I bookmarked it yesterday evening along with some other stuff. Will Post back here what I think later.....
 
morning all

yesterday's pair was a failure (-11) and ftse opened weak again this morning - looking for a long/short again but will try dow short as the opening shot rather than ftse long - not in yet
 
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