Anyone scalping the FTSE Futures??

[ordinaryguy76]

hi micheal have you had a reply about betfair financial and how to do it as i also had trouble understanding it if you have could you please email me [email protected] so you could enlighten me on it thanks richard

Be careful, this was just advertisement for Betting Assistant. You won't make any money there.

 

[Dick Lexic]

we seem to be in a volume sandwich 30/60

that's my new technical term

 

[MartinC-J]

but am still concerned this is a holding pattern for some news flow the market expects.. hence the tight stops

I am with you on this one. It does look like a holding pattern for the Merkozys pizza order. The price is just drifting lower on lack of demand.

 

[Mornington Crescent]

MC.. can you give me the benefit of your wisdom please on swing trading.. as you know I am not scalping now but am still trading the FTSE.. which index do you find the best to trade from a pure technical point of view for swing trading??

FTSE, DAX, ES???? or are they much the same.

thanks

I find that FTSE gives me the best signals
(and often on the cash {8.00 to 4:30} rather than the futures)

it invariably seems to give a more measured movement
and when other indexes are making their lows ftse often throws a tell tale higher low

it may lack the bar by bar volatility of Dax etc but that's not a problem for me

 

[DaddyJohn]

Be careful, this was just advertisement for Betting Assistant. You won't make any money there.

I agree.. clearly an employee advertising their business

 

[MartinC-J]

Looks like the Merkozy pizza order will be anoounced in the press conference at 12:30pm. Whatever happens in the next hour will probably determine the next two days.

 

[DaddyJohn]

I find that FTSE gives me the best signals
(and often on the cash {8.00 to 4:30} rather than the futures)

it invariably seems to give a more measured movement
and when other indexes are making their lows ftse often throws a tell tale higher low

it may lack the bar by bar volatility of Dax etc but that's not a problem for me

thanks MC

 

[Dick Lexic]

i'm not good with patterns but it looks like inverse h&s on 30min and 60 min?

now it looks like a normal h&s

 

[DaddyJohn]

This is what I am looking at innit

 

[Dick Lexic]

we seem to be in a volume sandwich 30/60

that's my new technical term

if the sandwich breaks it could speak volumes

pardon the pun

 

[DaddyJohn]

Look at Bunds !!!!! this is the weekly chart !!!

something is afoot everyone..

 

[MartinC-J]

This is what I am looking at innit

A picture is worth a thousand words. Thanks for posting up your chart of the channel. I've drawn my channel slightly differently and it is influenced by the ES chart. The ES, in my opinion, broke out of its channel, came back and retested and bounced off the upper channel line. It made a higher high, but then came back and tested the lows again. It came close to printing a lower low but didn't quite. The market isn't quite sure what to do next. So I am watching the low of 1266.75 and the high of 1278 from thursday. Below or above these might see some rapid price action.

 

[DaddyJohn]

Martin.. have you seen the longer term channel(s) though??

the X is the tope of the current channel and hits the downward trend resistance line.

ES has yet to hit this yet .. question is how does it get there? striaght up?? or down into the lower channel and back up again ... I am hoping the latter

 

[Mornington Crescent]

It seems we have had that retest of 5644 with a high of 5635
and momentum is still falling

so the next test could be that gap below which starts around 5567

this is what I am looking at

 

[DaddyJohn]

this is what I am looking at

you short then MC?

 

[Mornington Crescent]

sorry about the delayed chart DJ
imageshack was playing up

yes, short since shortly after the failed rally this morning

see my post above

 

[DaddyJohn]

I cant stand this slow burn anymore.. going for a walk..

 

[barjon]

ftse doesn't think much of the dow 15:00 reversal - might catch up fast if it continues

 

[DaddyJohn]

I'm going to leave this in case DC is lurking

"hey DC... we hear you wear women's draws and drink beer like a frenchman":cheesy:

 

[MartinC-J]

Martin.. have you seen the longer term channel(s) though??

the X is the tope of the current channel and hits the downward trend resistance line.

ES has yet to hit this yet .. question is how does it get there? striaght up?? or down into the lower channel and back up again ... I am hoping the latter

I think most people are expecting a test of 1300 some time, and as you say, how is it going to get there? I think we have to see where the yanks can take it later today when the european cash markets are closed. We've had another day of FTSE trying to go down while the ES goes up. The number of times I have seen the FTSE being obstinate in the face of an optimistic us market. You would think it would be tradeable, but it isn't really that easy. When this happens you are better off trading the ES instead of the FTSE.

I think the FTSE is trying to close the gap from December 29th. So look for 5557 to come up at some stage, maybe by at 4:30pm today. The ES already closed the gap on Jan 5th. When the gap has been closed by the FTSE it should make a move back up to highs. That's my guess any way.