Anyone scalping the FTSE Futures??

[DaddyJohn]

MC - You're showing your age! No one under 30 knows that the Germans tried to take Malta, but as Basil says don't mention the war.

ES is trying to do 127% at 1268. FTSE doesn't really want to follow it there.

if you are right Martin and the ftse is dragged up kicking and screaming, then that might tie win with my 5612 price

 

[Mornington Crescent]

MC - You're showing your age! No one under 30 knows that the Germans tried to take Malta, but as Basil says don't mention the war.

ES is trying to do 127% at 1268. FTSE doesn't really want to follow it there.

maybe but the under 30's do keep reminding us that the Queen is German

 

[MartinC-J]

It does appear that the US can't be bothered to trade while european cash markets are open. You used to be able to depend on a strong move before data at 3pm, and then a continuation or reversal after 3pm. Now it seems that the price action is all over the place, and continuation entries are tough to time, especially when the range is 20 pts since 2:30pm.

Well we are at 3:50pm where usually we get the market setting up for the 4:30pm close. I still think we should sell off, but this down move has no conviction and could easily reverse.

 

[Splitlink]

It does appear that the US can't be bothered to trade while european cash markets are open. You used to be able to depend on a strong move before data at 3pm, and then a continuation or reversal after 3pm. Now it seems that the price action is all over the place, and continuation entries are tough to time, especially when the range is 20 pts since 2:30pm.

Well we are at 3:50pm where usually we get the market setting up for the 4:30pm close. I still think we should sell off, but this down move has no conviction and could easily reverse.

I just closed a short for 2 points. It's a drag, without doubt. My loss for today -16
although I may trade later.

 

[MartinC-J]

I just closed a short for 2 points. It's a drag, without doubt. My loss for today -16
although I may trade later.

Not a great day for trading. Never very rewarding when you try to make it happen and it doesn't want to. The best trade of the day was no trade.

 

[DaddyJohn]

+44 prices today.. but 95% of profit made this morning.. could have been in my local sipping beer by the big log fire eating fish and chips !!

 

[dc2000]

What a slow morning! Until volumes pick up, there isn't much point scalping this market.

A good day to catch up on homework and looking at Taylor again. I am finding it difficult to find a clear and concise set of rules for Taylor. Even reading LBR does not always paint a clear picture. The clearest point so far is to look for a test of the previous days high or low and then expect a sell off if high is not beaten or buy if low holds.

is that what Im supposed to be doing oops

 

[dc2000]

DJ/DC - At which point do you decide that today is not an SS day? We've gone above fridays high but only by 7 points, and it has taken all morning to do so. The market has little appetite for up or down.

at the moment on the FTSE 20 points

 

[Sidekicker]

What a slow morning! Until volumes pick up, there isn't much point scalping this market.

A good day to catch up on homework and looking at Taylor again. I am finding it difficult to find a clear and concise set of rules for Taylor. Even reading LBR does not always paint a clear picture. The clearest point so far is to look for a test of the previous days high or low and then expect a sell off if high is not beaten or buy if low holds.

That's just buying supports and selling resistance isn't it?
But how long until you know that it's beaten or holding?

 

[dc2000]

my stats tell me that can go as high as 5642.. but that would be a big push for a SS day, but not unheard of.... I think if it goes much above 5613 , then I might change my mind

5642 is about the area I have for thursday but if aint -100 in the morning thats where I will be shorting again

 

[dc2000]

If SS is short sell day, and B is a buy day, what is Z?

Z day is a day to exit a follow through position from previous day and get ready for a counter trend move
a typical Z day has a swing high to low or low to high with the close relatively unchanged from previous day

 

[dc2000]

guess Id better look for and exit

watching the FTSE for 5489 area that should signal jump off

 

[DaddyJohn]

guess Id better look for and exit

watching the FTSE for 5489 area that should signal jump off

Nice trading DC.

News is rumour S&P are putting several euro countries on negative watch...including Germany..

Kinda buggers up the esfs fund..:whistling

 

[MartinC-J]

is that what Im supposed to be doing oops

I knew you were doing it wrong all these years. You will have to give all that money back now.

 

[MartinC-J]

So for tomorrow, my simpletons assumption is it should be a buy day, with some continuation of tonight's sell off followed by a reversal at some stage in the morning session. I just see that S&P put Malta on credit watch negative. They've done it now. An angry Malteser is a dangerous thing.

Don't think they put the UK on a negative yet. Good thing we are not in the euro and can print up some more monopoly pounds.

 

[dc2000]

So for tomorrow, my simpletons assumption is it should be a buy day, with some continuation of tonight's sell off followed by a reversal at some stage in the morning session. I just see that S&P put Malta on credit watch negative. They've done it now. An angry Malteser is a dangerous thing.

Don't think they put the UK on a negative yet. Good thing we are not in the euro and can print up some more monopoly pounds.

Yes should be buy day but depends on price, as a swinger I would be wary of a bounce off 5489 area early doors as the would be the fourth and we would likely go 5489 - 5532 - 5442 to put in a Z day
an early drop to 442 1st half hour is the preference then rally to close gap

 

[dc2000]

I knew you were doing it wrong all these years. You will have to give all that money back now.

can I not do like Bill gates he's been selling faulty products for years and then just gives money away instead of back

 

[DaddyJohn]

can I not do like Bill gates he's been selling faulty products for years and then just gives money away instead of back

That's ok ..you can give it to me!!! :cheesy:

 

[DaddyJohn]

Yes should be buy day but depends on price, as a swinger I would be wary of a bounce off 5489 area early doors as the would be the fourth and we would likely go 5489 - 5532 - 5442 to put in a Z day
an early drop to 442 1st half hour is the preference then rally to close gap

5442 is a long way down in the first 30 mins DC..:whistling

 

[DaddyJohn]

I am hoping for a short squeeze on the open up to 5536/ 48 before the decline begins