Anyone scalping the FTSE Futures??

[dc2000]

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.

an SS day can take the form of a slow rise into lunch then fall in the afternoon
the ftse needs to print a price 5491 to complete the three day pattern the DOW on the otherhand 12190 ish, I will also take these prices
The FTSE is on a standard three the DOW isnt quite the opposite the dow needs to print 11952 by tomorrow morning

 

[Mornington Crescent]

with the reversal pattern from day before yesterday now apparently confirmed
I would hope this uptrend would continue through the holiday period
with or without setbacks on the way

 

[dc2000]

I also like capitulation martin so if FTSE fails to make new high then 5340 and lower comes in to play if it makes a high then only 5370s area

 

[MartinC-J]

an SS day can take the form of a slow rise into lunch then fall in the afternoon
the ftse needs to print a price 5491 to complete the three day pattern the DOW on the otherhand 12190 ish, I will also take these prices
The FTSE is on a standard three the DOW isnt quite the opposite the dow needs to print 11952 by tomorrow morning

Thanks DC. Sometimes it hard to adapt my short term scalper time scales to the long term view of swing trading. That last spike down at 10:05 could be euronews related. If it wasn't then that should negate my one way day scenario, and we should see a 50% retrace to 5496 for a first target.

 

[MartinC-J]

Looks like it was yet another rumour of a french downgrade, which the market should ignore. If thats the case the slow uptrend should resume. It's really difficult some times to tell eurobabble from genuine moves. That 5 min candle at 10:05 was the second longest of the day. You don't usually get such a big candle at the tail end of a "one way day" morning session.

 

[dc2000]

sold again dow and ftse 470 and 175 now just need a drop and a half tomorrow

 

[dc2000]

thought we would have seen the 90s onboth into the close

 

[Mornington Crescent]

close at high
and ES also on the same tack

half day tomorrow
but looks like more to come

 

[ldk22233]

I think we are going to have another rally on the Ftse 100 tomorrow due to low volume and some technical barriers being broken however there will be some EU economic data coming out which could dampen things and reverse the markets! Any other views?

 

[MartinC-J]

I think the boys and girls in the City are starting the Christmas party early. I can't see much happening today. So this seems like a good moment to say a big thank you to all of you who have posted on this thread through the year. I hope we have all learned something, and at the same time have had a bit of company for this somewhat solitary pursuit of trading. I hope you all have a great Christmas, and that we have a rewarding and enjoyable 2012.

 

[Mornington Crescent]

and you too Martin

back in March you said you were trying to cut down the numbar of trades every day

have you had any success ?

or is it your new years resolution ?

 

[reksa]

I think the boys and girls in the City are starting the Christmas party early. I can't see much happening today. So this seems like a good moment to say a big thank you to all of you who have posted on this thread through the year. I hope we have all learned something, and at the same time have had a bit of company for this somewhat solitary pursuit of trading. I hope you all have a great Christmas, and that we have a rewarding and enjoyable 2012.

Well said Martin
Hard to trade today. I will keep an eye on the markets between Christmas and New Year but i don't think i will trade much.

Hope everyone has a good one.

 

[ctlpast]

I think the boys and girls in the City are starting the Christmas party early. I can't see much happening today. So this seems like a good moment to say a big thank you to all of you who have posted on this thread through the year. I hope we have all learned something, and at the same time have had a bit of company for this somewhat solitary pursuit of trading. I hope you all have a great Christmas, and that we have a rewarding and enjoyable 2012.

Thank you MartinC and thanks again for starting/maintaining this excellent thread.
Seasonal Greetings to Everyone.

 

[MartinC-J]

and you too Martin

back in March you said you were trying to cut down the numbar of trades every day

have you had any success ?

or is it your new years resolution ?

I'm afraid its a new years resolution. Some days I am ok, other days I tend to test and scratch, which means lots of small trades. I still overtrade, and need to hold positions longer, but I am a much better trader than the start of the year and that's progress. I am still very much a scalper, but holding winning trades for longer would be a benefit. It also helps to have the likes of yourself and DJ and DC posting here. You have more discipline and longer time horizons, and can maybe bestow a little more patience into our trading habits.

 

[Mornington Crescent]

I still overtrade, and need to hold positions longer, but I am a much better trader than the start of the year and that's progress.

As long as you are a better trader, maybe that's more than enough

If you have ever had a golf pro try to improve your swing, you may know what I mean

 

[Mornington Crescent]

Meanwhile, back at the ranch, the trend continues with no lower high in sight

and with little to disturb it over the next few days I hope we can reach a really good overbought situation

 

[mrfigure]

Anyone see the ftse taking a dive early 2012 ? monthly shows tiredness, 5530 ish is the settling point and with the economy/euro situation here to stay, i think the gains over this week will be given back sharpish, especially with the addition of selling pressure, profits being taken.

 

[Mornington Crescent]

"the ftse" ?

that sort of implies that you are talking about the cash market

but I could be wrong

 

[supernovered]

Thanks to Martin for starting and maintaining a great thread, and to everyone who has contributed.

I can honestly say that the knowledge and observations made on this thread have helped improve my trading considerably over the last few months.

Merry Christmas and a Happy New Year to everyone:cheers:

 

[Mornington Crescent]

Meanwhile, back at the ranch, the trend continues with no lower high in sight

and with little to disturb it over the next few days I hope we can reach a really good overbought situation

good start this morning

still room for further progress