Anyone scalping the FTSE Futures??

[dc2000]

right then for a reload I would want 12114 or will short 12314 area

for the FTSE the 5426 area for reload

 

[dc2000]

back in again 5420 and 12137

 

[Mornington Crescent]

Should I be looking for specific time cycles too?/QUOTE]

no Martin. in my experience the market will always takes as long as it needs
when forming reversal patterns

 

[dc2000]

also 5392 and 12084

 

[dc2000]

a 5372 before the US open would give free reigns for the DOW

 

[MartinC-J]

Should I be looking for specific time cycles too?/QUOTE]

no Martin. in my experience the market will always takes as long as it needs
when forming reversal patterns

Cheers MC.

I've had the ES on a target for 1228.56, the 38% retracement on the 1 hr chart. It got close with the low of 1229 at 13:20. Now it should go back to test the highs and hopefully go higher. Most strong trends on the hourly seem to retrace 38% before continuing the trend. Let's see if it does this today.

 

[dc2000]

reckon Im going to be short in the not too distant 12190 would be about right and 5433/40

 

[Mornington Crescent]

now may be a good time if you want to try a long

 

[dc2000]

watching the DOW for exit on FTSE and DOW if the FTSE is to break pattern it will happen at 5432 for the mother of all signals

 

[Mornington Crescent]

now may be a good time if you want to try a long

ps: this is only an after lunch scalp so if you see a lower high just kill it

 

[neil]

You don't need to be told but this is a first rate thread - one of a very small number that adds to ones' trading knowledge. And ideal for the tyro if they are willing to put in time, practice and determination.

 

[dc2000]

cant see the FTSE breaking pattern now, minimum it has to do tomorrow to fulfill pattern is 5491 and the DOW is 12190

 

[Mornington Crescent]

it has pulled back to the absolute maximum allowed without breaking the uptrend

but the originating signal is now under pressure

we have to see a new higher low soon if the rally is to continue

more Dark Energy required

 

[Mornington Crescent]

as if at my beck and call


first came in at 5344
so that is the line in the sand

it still has a lot to do

 

[dc2000]

now whats that song about candy from a baby ftse has 80 and dow has 100 from here
debating whether to short dow into new year as there is only 900 points to next target

 

[MartinC-J]

You don't need to be told but this is a first rate thread - one of a very small number that adds to ones' trading knowledge. And ideal for the tyro if they are willing to put in time, practice and determination.

Many thanks Neil. We've got a nice blend of scalpers and swingers and no trolls. Let's hope it continues.

A nice Z day as DC said with a close near the highs of the evening session. Will it be another Z tomorrow or a sell short day? I don't know if it is on a 4 or 5 day cycle, but there has to be some profit taking tomorrow some time.

For the US open this afternoon we got a sell off right from the open that seemed engineered to arrive at a low just prior to the homes data at 3pm, then a channel up and a channel down into the UK cash close. The ES retraced a perfect 50% of yesterdays up move before moving higher in to the close.

On a macro level with the Spanish and French bond yields dropping this week, and the ECB's 3 yr refi operation going well today, people might start believing that the euro will muddle through. Just in time for Santa.

 

[Mornington Crescent]

5344 was tested overnight but did not break
and has given us an early bounce

9:30 UK GDP (i dont expect any real surprises)

and later on US Leading indicators

 

[dc2000]

thats enough singing from the rather rotund soprano for me

exit and short 12150 and 5452

 

[MartinC-J]

This is what I don't get about Taylor. Tuesday was a buy day. Yesterday was a Z day. So today should either be another Z day if we are on a 5 day cycle, or it should be a sell short day if we are on a 4.

If it's a Z, then it should be a low first. If it's an SS, then we should get a high first to sell into. But from my observations this looks like a one way day up to me. Which means we get a slow slog upwards with small candles and a slightly higher high every 20 to 30 minutes or so, with pullbacks usually not much greater than to the 10 EMA on the 5 min chart.

I may be early with my assumptions and the high has been made for the sell short to begin, but I really don't understand how to apply Taylor. I try to be simplistic about it and expect it to happen on demand. Let's see what the next hour gives us.

 

[dc2000]

although I expect there may be a bit more upside price is good enough

no set target at the moment but FTSE circa 5340 would do and DOW 11721 area so looks like a hold for a day or two