Anyone scalping the FTSE Futures??

[samirs]

I think I am done for the day.. this kind of price action is not for me. Far better to relax and recharge. Five day weeks are overrated anyway.

good choice..

 

[dc2000]

I think I am done for the day.. this kind of price action is not for me. Far better to relax and recharge. Five day weeks are overrated anyway.

Oohrah

looks like I missed the bit in the middle so looking for the 376 down to 226 and 302 on DOW

 

[dc2000]

still searching for files over here at DC HQ a few drives to search through, doesnt help keep comming across old family pics

 

[Sidekicker]

4hr charts + divergence

 

[MartinC-J]

Just in case you all think the US is closed. I did. The NYSE and CME are all open today and trading. I think it is the bond market that is closed. Volumes are a little lighter because it is still a bank holiday.

Sidekicker - I don't usually look for divergance, because it isn't always right. But I am still expecting more of a pullback before a bigger move up.

 

[Sidekicker]

Sidekicker - I don't usually look for divergance, because it isn't always right. But I am still expecting more of a pullback before a bigger move up.

Agreed but then nothing is, it's just a guide.
AUDUSD currently hitting resistance, which should cause a bounce down in the markets.

 

[MartinC-J]

I guess for me divergance has not been right enough times for me to use it regularly. It is just a guide, but a guide I can't rely on. At the end of a trend divergance works well, but how do you know it is the end of the trend?

 

[Sidekicker]

I guess for me divergance has not been right enough times for me to use it regularly. It is just a guide, but a guide I can't rely on. At the end of a trend divergance works well, but how do you know it is the end of the trend?

I only use it at support/resistance areas, anywhere else am not interested.
Actually, of more importance now are the bear/bull indicators and all these show overly bearish sentiment hence the short squeezes that are happening at the moment.
It's just a question of if this FTSE range continues. I find divergence better in ranges than trends.

 

[dc2000]

we at 5386 we have 5700 to upside and 5089 to the down

 

[MartinC-J]

I only use it at support/resistance areas, anywhere else am not interested.
Actually, of more importance now are the bear/bull indicators and all these show overly bearish sentiment hence the short squeezes that are happening at the moment.
It's just a question of if this FTSE range continues. I find divergence better in ranges than trends.

All good points. You can't use divergance just anywhere.

Another 10 pts on the ES and we get a 161.8% extension from friday. We get to match the swing high of Sept 27th which was 1090. Question is does it do it before 4:30pm or later on this evening?

 

[MartinC-J]

There's usually volume at the end of a trend and I haven't seen any yet. 5384.5 should be a strong resistance level, but no big volume yet.

 

[Sidekicker]

There's usually volume at the end of a trend and I haven't seen any yet. 5384.5 should be a strong resistance level, but no big volume yet.

As in big volume selling at the end of a trend?
Would be strange to see volume increase in buying at the top.
Usually like to see big volume in conjunction with a topping candle, figured Friday was it unless we get 2 topping tails today.

 

[Sidekicker]

ahahahha:

From Bloomberg: "Italian Prime Minister Silvio Berlusconi's Undersecretary Carlo Giovanardi said the government will study if it's feasible to conduct drug tests on stock-exchange traders, with the help of the Milan Bourse and the country's market regulator. Giovanardi, who is in charge of family policy and drug prevention, said that the abuse of drugs including cocaine might explain part of recent stock volatility."

 

[dc2000]

ahahahha:

From Bloomberg: "Italian Prime Minister Silvio Berlusconi's Undersecretary Carlo Giovanardi said the government will study if it's feasible to conduct drug tests on stock-exchange traders, with the help of the Milan Bourse and the country's market regulator. Giovanardi, who is in charge of family policy and drug prevention, said that the abuse of drugs including cocaine might explain part of recent stock volatility."

can we have Government officials IQ tested at the same time

 

[orangetrader]

ahahahha:

From Bloomberg: "Italian Prime Minister Silvio Berlusconi's Undersecretary Carlo Giovanardi said the government will study if it's feasible to conduct drug tests on stock-exchange traders, with the help of the Milan Bourse and the country's market regulator. Giovanardi, who is in charge of family policy and drug prevention, said that the abuse of drugs including cocaine might explain part of recent stock volatility."

About time too - I knew all this stuff about the problems in the euro was just a smoke screen for coked-up Italian speculators

 

[MartinC-J]

As in big volume selling at the end of a trend?
Would be strange to see volume increase in buying at the top.
Usually like to see big volume in conjunction with a topping candle, figured Friday was it unless we get 2 topping tails today.

Sorry for the late reply. I usually look for topping volume on the one minute chart. Usually you get one or two candles where the volume is much more than the surrounding ones. We got the increase in volume at 15:36 and 15:46 in conjunction with the highs, which gave a pretty good indication that would be the high for that swing.

I think you look at much longer time frames than me.

 

[DaddyJohn]

Sorry for the late reply. I usually look for topping volume on the one minute chart. Usually you get one or two candles where the volume is much more than the surrounding ones. We got the increase in volume at 15:36 and 15:46 in conjunction with the highs, which gave a pretty good indication that would be the high for that swing.

I think you look at much longer time frames than me.

Martin, if I see this , then I look for the candle shape and the preceeding price action, as it can confirm that players are turning around their positions for the anticpated change in direction... you see this in forex a lot!! where they like to give the impression of further upside (for example) to come, when in fact they intend to sell it down from there on.. it also takes out the stops , which is perhaps some of the volume you are seeing.

 

[DaddyJohn]

Sorry for the late posting on ftse futures levels..traffic was awful this morning. Haven't got time for full explanation this morning..but levels iw I'll be watching for breakouts or retracements are,

5431, 5421, 5389, 5362, 5320, 5278, 5227/35, 5199

 

[DaddyJohn]

Sorry for the late posting on ftse futures levels..traffic was awful this morning. Haven't got time for full explanation this morning..but levels iw I'll be watching for breakouts or retracements are,

5431, 5421, 5389, 5362, 5320, 5278, 5227/35, 5199

Also, 5466

I also use these as targets depending on price action

 

[Sidekicker]

Martin, if I see this , then I look for the candle shape and the preceeding price action, as it can confirm that players are turning around their positions for the anticpated change in direction... you see this in forex a lot!! where they like to give the impression of further upside (for example) to come, when in fact they intend to sell it down from there on.. it also takes out the stops , which is perhaps some of the volume you are seeing.

Got an example?
If they liked to give the impression of further upside then a topping candle would not be forming. Sometimes, you get topping candles and then further buying strength, there were 2 or 3 yesterday on the euro.