Anyone scalping the FTSE Futures??

supernovered said:
Morning DJ, how do you calculate the value areas - do you have software/indicator to do this?
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I use Market Profile on e-signal .. it calculates them for you.. the highs and lows make good support and resistance levels.. there are also some useful principles to use when trying to identify where the big boys are buying or selling
 
DaddyJohn said:
Morning all.. slow start to the week.. have being scalping in and out .. mainly short as FTSE goes to test Fridays highs.. I am thinking this might be a shorting day.. but!!! we are now trading above Friday;s value area high.. usually I will be looking for longs in this area ,, but it hasnt been convincing this morning.. sitting on the fence a bit here now.. Italian auction at 10am and euro/dollar option expiry at 10am NY time:sneaky:
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I assumed that FTSE is a secondary index and is controlled by the dow/sp500, would it be a better idea to work out value areas on dow/sp500 and then apply those levels to ftse100
 
We have had a pullback to 38% on both the FTSE and ES. If this is still to be a bull run then we should retest the highs of this morning and extend above them.

DC said on friday that today should be a sell short day and should have a nice tick shape with a short up followed by a long down. At the moment he is right on the button. I think he is projecting much lower lows, so if we see a move back below 5476.5 for the FTSEZ1 and 1252.00 for the ES, then that should confirm a move to lower to 5452, 5422, 5327 and 5260. (50%, 61.8%, 100% 127%)
 
MartinC-J said:
If you don't already subscribe to Nick McDonalds free weekly summary, can I suggest you do. He has a great read on the equity markets and explains it so simply. His commentary is mostly on the Russell and the S&P, but it correlates to the FTSE very nicely.

Stocks Looking Bullish, US Dollar Bearish in News Driven Markets | Trade With Precision
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Good link Martin. That guy was pretty bullish.
Not so sure we are going to be testing the year highs.

Keeping a eye on the bond market over the coming months is vital.
 
Bit of a fight going on here ... bit of a scrappy US session.. trying to fight back for that short term trend line support.
 
DaddyJohn said:
Bit of a fight going on here ... bit of a scrappy US session.. trying to fight back for that short term trend line support.
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yeah. Price action is crap. Just when you think it has direction, the last minute of every five has a push in the opposite direction. That's deliberate algo robbery. They must have few options around if that's what they are having to resort to.
 
reksa said:
Good link Martin. That guy was pretty bullish.
Not so sure we are going to be testing the year highs.

Keeping a eye on the bond market over the coming months is vital.
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I don't know how he can be so bullish, but you have to trust his experience. Nice to see a bull in all of this euro worry
 
MartinC-J said:
Just another point for your trading journals, but quite often there is a reversal around 3:50pm to 4:00pm. That is when the big boys start to square up their positions and get ready for the cash close at 4:30pm. It doesn't happen every day, but you should be conscious of it and usually something happens then.
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This is such a frequent occurrence.
 
reksa said:
This is such a frequent occurrence.
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It seems to happen a lot more since the euro problems. There seems to be US v Europe every day, with a change in control after 4:30pm. Also if we get a decent move in the am session, we tend to get a rangy pm session.
 
Hey DC....

I see the baby is a chip off the old block :LOL:
 

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Tomorrow should be a buy day.. With the Market looking to go lower...but I somehow feel any rally from this low will be short-lived.. With Thursday selling down further... I wonder if Thursday will be the day woolworths gets its new window display. :cry:
 
MartinC-J said:
I don't know how he can be so bullish, but you have to trust his experience. Nice to see a bull in all of this euro worry
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If you are going to read 3 rd party views it is really important that you read opposing themes..bull..bear..

I spent too long reading one commentators bearish comments and just wanted to short all day.. Or go live on an island somewhere ... Even when the mood is bad there is always money waiting to buy back in...most money funds in the world are buy only... And where will the money go when they can't trust sovereigns any more? Blue chip dividends .... The next safe haven.... IBM etc... The next AAA s

Just a thought!
 
MartinC-J said:
I don't know how he can be so bullish, but you have to trust his experience. Nice to see a bull in all of this euro worry
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Sorry to hog the thread tonight..nothing else to do..sad old life :cry:

But..... Have you seen the NASDAQ recently?. Or the small caps???
 
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