Anyone scalping the FTSE Futures??

Now 5800. Possibly could go a tad lower, but looking like a symmetrical IHS. I think we'll go back up to 5815.

Not got a prediction after that yet.

NB: I'm not trading my own predictions and a I do make mistakes!
 
Morning SD 🙂

Yes. I've seen that acronym on this thread so I'd thought I'd use it.

Apparently the more symmetrical a HS or IHS is the better (the one on the five min chart prior to the big move up yesterday is quite nice).

This one has lost its symmetrical look now as the second dip has gone further than the lowest one on the other side. I was expecting a sharper dip and reverse.

Is it still going to go up to 5815? I think so but I seem to remember on previous days my W and IHS calls faked into another reverse pattern. Maybe it's happening again. 🙄

GRRRR I'm wrong!! 😀 Sorry. I don't understand what is happening right now.
 
et. said:
Morning SD 🙂

Yes. I've seen that acronym on this thread so I'd thought I'd use it.

Apparently the more symmetrical a HS or IHS is the better (the one on the five min chart prior to the big move up yesterday is quite nice).

This one has lost its symmetrical look now as the second dip has gone further than the lowest one on the other side. I was expecting a sharper dip and reverse.

Is it still going to go up to 5815? I think so but I seem to remember on previous days my W and IHS calls faked into another reverse pattern. Maybe it's happening again. 🙄

GRRRR I'm wrong!! 😀 Sorry. I don't understand what is happening right now.
Click to expand...

Understand it? No one does, et.

I'm in for a long at 5790 because I feel that the potential risk is low ie a 10 point stop against a possible good rise.
 
Actually, I think I was wrong to call it an IHS. The real shoulders of the symmetrical IHS were inside the formation I was looking at so the formation already failed by 10am Barjon, five minutes before I posted.

Splitlink said:
Understand it? No one does, et.

I'm in for a long at 5790 because I feel that the potential risk is low ie a 10 point stop against a possible good rise.
Click to expand...

I agree reward/risk ratio is key part of a successful trading strategy. I'm here because I want to make calls on signals on higher charts, which go further (if right) for about the same risk if wrong (your stop).
 
et. said:
Actually, I think I was wrong to call it an IHS. The real shoulders of the symmetrical IHS were inside the formation I was looking at so the formation already failed by 10am Barjon, five minutes before I posted.



I agree reward/risk ratio is key part of a successful trading strategy. I'm here because I want to make calls on signals on higher charts, which go further (if right) for about the same risk if wrong (your stop).
Click to expand...

On the 5M chart there is a small high at 1050 which was my first obstacle to get over. It`s trying to get past right now. Instead of waiting for that breakout to confirm I prefer to try to get in early so, even though it may not get past and could drift down again, I am 6-7 points to the good at present and can break even now , at the worst.
 
Last edited:
I made a few points out of that but, as everyone can see, that one did not work out as expected. We have a spiky time coming so I am staying away until this afternoon.

Fine, if you can handle spikes, of course!
 
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