Anyone scalping the FTSE Futures??

[Dick Lexic]

your level yesterday 5753

 

[SuddenDeath]

your level yesterday 5753

yep

CNBC showed futures, dow down about 6pts

yet GDOW saying dow should be below 13,000 ie. minus 57

 

[SuddenDeath]

yes 5731ish

watch FTSE100 from 2:15 is it strong or weak going into US open.

notice FTSE being pushed lower as we go into US open. not good sign

 

[Lee Shepherd]

I'm posting a quick screenshot now of the dax trade for reference at a later date. Otherwise people tend to start screaming, usually through frustration that I'm not for real.

For those who do not know how I trade:

In short: I start with small stakes and look to build into large positions then wait for a major pullback or rally, sometimes chopping out as I go and other times holding for the big one. Trades usually take longer than a few days in most market conditions and can run for weeks chopping in and out of ranges.

Lee Shepherd

 

[et.]

Worked out the reason my 4hr signal failed... simple newbie error. It did not occur at a S/R level - it occurred just below one. :whistling

Sometimes they do fail in S/R zones but that should be against my predicted target.

So I "got in" 5745 at 15 EMA line touch (in an S/R zone), out 5739, which was a prediction from 30 min chart. +6.

Better late than never. Could the low be in?

+10 for day.

 

[timlewis]

Hi Gents.... thanks for all your commentary which I find invaluable to learning this game ?

Thought I should at try to make some sort of contribution for what its worth ???

I've just drawn some Fib lines on the daily SB Chart (Capital) from Jul 25th (when the current Ftse started its move up) at 5450 to its climax (oh errr missus) at 5875 around 14th Aug (and since) ... which have the 23.6 % retracement at 5774/5 ish and the 38.2 % at 5712 ish ?

How do these concur with you guys as possible S/R levels too

TL

 

[SuddenDeath]

Hi Gents.... thanks for all your commentary which I find invaluable to learning this game ?

Thought I should at try to make some sort of contribution for what its worth ???

I've just drawn some Fib lines on the daily SB Chart (Capital) from Jul 25th (when the current Ftse started its move up) at 5450 to its climax (oh errr missus) at 5875 around 14th Aug (and since) ... which have the 23.6 % retracement at 5774/5 ish and the 38.2 % at 5712 ish ?

How do these concur with you guys as possible S/R levels too

TL

Hi Tim thanks for posting,

the market action around your fib lines will show if they are drawn correctly, have u drawn fibs previously using the same theory and how has the market reacted around those fib lines?

 

[et.]

How do these concur with you guys as possible S/R levels too

TL

Interesting question and welcome to the thread.

I don't use the Fibonacci tool for S/R levels in this way. However, the 38% and 50% coincide well with the preceding price resistance, which should turn to support. The 61% should not be ruled out either. It's that general region... certainly I wouldn't expect higher than 5850 until that region is tested.

 

[Dick Lexic]

are we gona rescue that weekly low?

 

[et.]

Depending on the outcome of the hour candle (which is in an S/R zone) I think the price is going to 5761.

However, if it gets there before the hour I think we'll immediately reject at or near that price.

We might do that anyway, so I'm putting an imaginary sell order 5761, for what I think might be a pullback within a bullish trend (pullback).

Edit: currently looking a bit of a stupid decision. Crap. Stopped out. -6 for +4 today. That was a risky trade. Shouldn't have made it.

 

[SuddenDeath]

are we gona rescue that weekly low?

Dow went 20pts below yesterdays low (probably where most of the long stops were and sell stops)

 

[SuddenDeath]

The mirage of hedge funds and big money

The mirage of hedge funds and big money - YouTube

 

[DaddyJohn]

Looks DC had the right price..... thanks DC... I took the bounce off the 5741...

 

[Dick Lexic]

hi tl, sometimes you get a confluence of fibs like your 75ish with our intraday 79ish ...worth bringing them through sometimes....check out the confluence stuff online

 

[Dick Lexic]

is it for real .......i think it sucks until 79 clears....horrible market

 

[SuddenDeath]

Dow is this the "technical rebound" ??

 

[Splitlink]

Do you remember the "I went shopping" post?

That's what I just did. Left (not to be greedy) a 10 point target and Stoploss and have come back to a 14 point profit. It went 4 points over before it got filled. So much for the moaners who don't like SB firms!

I was trying a contradirection trade. To be truthfull, I did not, really, expect anything to come out of it

 

[et.]

It's ploughed straight through what I thought was going to be resistance. 5779 too.

Sell order at 5785 anyone?

Edit: Nope.

Actually on my chart it's gone to 89.5. and as low as 77. So that one would have worked for a bit, and perhaps more if it is turning here...

 

[DaddyJohn]

well that was nice !!!!

 

[Splitlink]

Mind you, my target was 55 and it is now 91, but that is another story.