Anyone scalping the FTSE Futures??

MartinC-J said:
Just an observation to make a note of. The price bounced off a perfect 161.8% extension this morning, but what is interesting is that it used the high from the pre-market (5363.5 at 7:40am) to calculate the 161.8% exactly. So in the future don't always ignore pre-market prices.
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We use a different lingo but the low this morning also bounced of an OOH low at about 0240, this morning. Mine is cash, about 5346? I did not do that one--I was doing a Dax trade then.
 
$ index now into retrace territory.
I would not be looking to long indexes for more than intraday stuff here.
A small rest/retrace is due sometime.
 

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Not quite--I just got stopped at 0.5 above previous day's high. I'm looking to short again, though.
 
DaddyJohn said:
If FTSE breaks these highs , then I will be long looking for 5420/28 , I will probably take 1/2 out just short of 5400.... I would be surprised to see price go above here today... but would not want to take a short until some good confirmation... currently my money flow index is showing strong divergence.. but with this short squeeze on.. anything is possible divergences or not
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Entered at 5385 ,, as clearly 5383 was the tipping point. Have taken 1/2 size out and move stop to just below 5383 - looking for 5428 ,, but this is very low volume, so any sign of bids been removed from the order book will see me exit
 
DaddyJohn said:
Entered at 5385 ,, as clearly 5383 was the tipping point. Have taken 1/2 size out and move stop to just below 5383 - looking for 5428 ,, but this is very low volume, so any sign of bids been removed from the order book will see me exit
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I use bar reversals , previous highs but nothing closer that 2 hours--you know-- the usual crap that traders get into their heads over the years :D but I don't use volume, mainly because I don't have real time access to it, so I am grateful for your info about low volume this morning.
 
Sidekicker said:
$ index now into retrace territory.
I would not be looking to long indexes for more than intraday stuff here.
A small rest/retrace is due sometime.
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Sidekicker - are you saying there is a direct inverse correlation between the Dollar Index and the indices? So if the DX is going up the ES and FTSE should be going down?


As for now, I am watching 5418 on FTSE futures and 2345 on FESX. The August Highs. The FESX just tagged and the FTSE is struggling. The ES has a way to go, which makes me think we will eventually break the 5418 but maybe not this morning. Very close call at the moment. Next two 5mcs should confirm one way or the other.
 
MartinC-J said:
Sidekicker - are you saying there is a direct inverse correlation between the Dollar Index and the indices? So if the DX is going up the ES and FTSE should be going down?


As for now, I am watching 5418 on FTSE futures and 2345 on FESX. The August Highs. The FESX just tagged and the FTSE is struggling. The ES has a way to go, which makes me think we will eventually break the 5418 but maybe not this morning. Very close call at the moment. Next two 5mcs should confirm one way or the other.
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Martin... absolutley there is a correlation , look at the euro/dollar any weakness in the euro sees stocks decline... essentially a strong dollar is bad for equities and a weak one good... this correlation can break down if the general political atmosphere is stable.. but for many months now the correlation is strong.. In my post on Sunday I said price action favoured higher highs, this was becasue the euro/dollar was so far away at the time from its 50day ema that it had to reverse and form a new range.
 
this is fascinating... I have watched the stocks of Barlcays and Rio Tinto this week as I trade the FTSE.. was is very, very interesting is that the big boys are moving from one sector to the next hour by hour.. so one hour they are buying miners and then as they sell (on higher volume) the are propping up the index by buying Banks, they then sell Banks and start to buy Miners.

Once they start selling both at the same time , then we have the correction we are looking for... but of course if they start buying both at the same time .. then up,up and away.

What a game eh?
 
Sidekicker said:
Get a broker that has a data link like OpenECry, then you can use that data link.
Some brokers let you just export stuff into Excel or you can use software like Investor RT (with EOD) or SIerra Chart or Market Delta.
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Thanks Sidekicker, will check these out.
 
MartinC-J said:
Mark

Here's the data for EOD for FTSE Futures for this contract. It only covers 3 months or so. I think for three months more I have to go to the previous contract. I printed this off from OEC's daily chart. Hope it helps.

Martin
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Cheers for that Martin. Starting to think im really missing out not using OEC. Got the demo with good intentions of comparing my current platform to the sim, but never seem to have enough time.
 
DaddyJohn said:
this is fascinating... I have watched the stocks of Barlcays and Rio Tinto this week as I trade the FTSE.. was is very, very interesting is that the big boys are moving from one sector to the next hour by hour.. so one hour they are buying miners and then as they sell (on higher volume) the are propping up the index by buying Banks, they then sell Banks and start to buy Miners.

Once they start selling both at the same time , then we have the correction we are looking for... but of course if they start buying both at the same time .. then up,up and away.

What a game eh?
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One that I don't choose to play. I'm going for a walk for a couple of hours.:)

This isn't scalping. This is being scalped.
 
Splitlink said:
I have got stopped for the second time. 5435, but I got a worse entry thn you 5416.5

This may have low volume but the ******* is going up!:)
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Unlucky mate, I thought I had gone in too soon, just need the dow to stay below 500 and drift down.

stop at be+3 now
 
Splitlink said:
One that I don't choose to play. I'm going for a walk for a couple of hours.:)

This isn't scalping. This is being scalped.
Click to expand...

wise -- I have drastically reduced my target outlook per trade now , as the manipulation is very strong last few days.. therefore I worry that we will suddenly get the "big one" which will blow me out.

so only taking very high prob , tight stop , out quickly trades.. which I hate. but keeps the wolf from the door
 
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