Anyone scalping the FTSE Futures??

MartinC-J said:
It's a nice chart for short interest. Is there a link for this somewhere?

You are not trading but you are obviously not taking the day off!

Did anyone else get caught by the fake down from the triangle consolidation? Usually, but not always, an uptrend that ends in a triangle consolidation break out to the upside. This one had a fake break down at 9:07am, which ran into a strong spike back up at 9:10am. It doesn't take long to recognise that this spike up is not normal. It had to be news based, although I can't exactly confirm the news. Most likely EU's Barroso saying that memeber states should recapitalise banks.
Click to expand...

I try not to trade on ECB rate announcement days, I more often than not lose money. With such a focus on Europe, Mssr Trichet only needs to raise his eyebrows to move the market 20+ prices and for a scalper that can be a problem.
 
DaddyJohn said:
Hi, I wont be trading this morning, but here are my thoughts and prices for ftse futures...

Odds favour a pullback today... possible highs today 5167 /5191.. If there is a pullback price would look to move to 5004 or previous days low of 4969. Drop below this market looks for 4940 or 4918. But this would be a serious amount of profit taking. Odds favour high first then pullback, but is quite evenly balanced we could get the high later in the day. Also, we are approaching downward channel line of resistance arounf 5200.. big boys know many people will be going short here and will look to exploit this to maximum effect if indeed they do intend a breakout to 5300.. ouch ... all those stops going off .. have agood day
Click to expand...

sorry chaps.. missed a price above.. of course possible pullback to the previous days high of 5126
 
DaddyJohn said:
go to Bloomberg.com and ask for quote on ticker NYSIPRTS:IND
Click to expand...

Well I've tried every combination of NYSIPRTS on Bloomie and have had no success. It is either only available to subscribers or I am a thicko. Probably the latter!

We are now at the 2.618 extension of yesterdays move at 5177. And we also have a nice wide channel on the 5 min chart. My guess is we get a blow off top here over lunchtime and a small sell off in the afternoon.
 
For those scalpers wishing to trade the ECB rate announcement and subsequent press announcement.. here is a briefing... you should know that most news channels will carry the coverage but what you here is upto a minute later than the pro's are hearing it in the trading desks...so be warned..
 

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MartinC-J said:
Well I've tried every combination of NYSIPRTS on Bloomie and have had no success. It is either only available to subscribers or I am a thicko. Probably the latter!

We are now at the 2.618 extension of yesterdays move at 5177. And we also have a nice wide channel on the 5 min chart. My guess is we get a blow off top here over lunchtime and a small sell off in the afternoon.
Click to expand...

New York Stock Exchange US Short Interest as a % of Total Shares Outstanding (NYSIPRTS:IND) Index Performance - Bloomberg
 
MartinC-J said:
It's a nice chart for short interest. Is there a link for this somewhere?

You are not trading but you are obviously not taking the day off!

Did anyone else get caught by the fake down from the triangle consolidation? Usually, but not always, an uptrend that ends in a triangle consolidation break out to the upside. This one had a fake break down at 9:07am, which ran into a strong spike back up at 9:10am. It doesn't take long to recognise that this spike up is not normal. It had to be news based, although I can't exactly confirm the news. Most likely EU's Barroso saying that memeber states should recapitalise banks.
Click to expand...

I bought into that at 5128, a great entry. I guessed, correctly as it happens, that the stops would be around there.

However, like Lancelot, yesterday, I took profits at 5145 and got stuck with twiddling fingers while it took a rest and went on up. I went in again at 5172 and the reason I did that is that I like averages. Mine were rising strongly and were pierced, a buy signal for me, although I am not too good at getting the exits right which, as I write, I see has developed a spikey bar and I'm going to close.

Well, not a bad morning. I've got the afternoon yet. A slack period at work allows me to keep a laptop on the go.
 
DaddyJohn said:
New York Stock Exchange US Short Interest as a % of Total Shares Outstanding (NYSIPRTS:IND) Index Performance - Bloomberg
Click to expand...

Many thanks John. That confirms me as a thicko.

As for the ECB, I thought the market was expecting 25 bps rate drop. If it doesn't happen I would guess that is bearish for the indices. On the one hand you would think that the ECB felt the economy was strong enough not to need a rate drop. On the other hand the market is crying out for help, and no rate rise will be viewed badly.

My guess is we get a rate drop, and spike up. If only I had DC's time machine.
 
Splitlink said:
I bought into that at 5128, a great entry. I guessed, correctly as it happens, that the stops would be around there.

However, like Lancelot, yesterday, I took profits at 5145 and got stuck with twiddling fingers while it took a rest and went on up. I went in again at 5172 and the reason I did that is that I like averages. Mine were rising strongly and were pierced, a buy signal for me, although I am not too good at getting the exits right which, as I write, I see has developed a spikey bar and I'm going to close.

Well, not a bad morning. I've got the afternoon yet. A slack period at work allows me to keep a laptop on the go.
Click to expand...

Well done Splitlink. I take it you are talking cash and not futures prices. Good to see my losses going to a worthy cause!

So no ECB rate drop and a spike down, followed by a short covering. Can't tell which way for sure after lunch. My guess is down, but we are mid range now and no need to guess.
 
MartinC-J said:
Well done Splitlink. I take it you are talking cash and not futures prices. Good to see my losses going to a worthy cause!

So no ECB rate drop and a spike down, followed by a short covering. Can't tell which way for sure after lunch. My guess is down, but we are mid range now and no need to guess.
Click to expand...

Yes, I do the rolling cash. I'm looking at a right shoulder on the 5M just now but it isn't complete and I am faced with the "blackout" period between home and business. I think I'd better leave it until I get there!
 
DaddyJohn said:
dc2000 said:
looking for the DOW to be up at 11306 later aswell

a 4.6% day

Hi DC, I know you always quote FTSE cash - is it the same for the DOW? or are you using futures?
Click to expand...

Hi DJ
yes I post cash for DOW as well

I see the FTSE just maneuvering to give the DOW room FTSE only needs to print 304, after hours is fine, DOW needs 11178 tonight
Click to expand...
 
Sold at 5220 from 4955 buy.
Interested to see if this 4hr channel will break:
 

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Sidekicker said:
Sold at 5220 from 4955 buy.
Interested to see if this 4hr channel will break:
Click to expand...

It's got about 13 mins to complete and. at present, is building up for a pin, wouldn't you think? For a long term TF a pin, here, should be very bearish. .i'm watching bearish possibilities on the 15M. Let's see.
 
i'm all sqeak and no pip so far, havn't felt comfortable with divergence divergence.
prior to my volume charts going on the blik again i noted some heavy vol around 206 area so thats key at the mo for me. maybe they were having a sneaky selloff but a trade above is a different story
init:)
 
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