Anyone scalping the FTSE Futures??

And it continues. For 20 minutes the ES has been pinned up against its high, whereas the FTSE has sold off. I went long back at 10:25 but reversed for a small short when it was clear that someone was protecting 5635.

When the ES breaks out, I am expecting it to try and get to 1291.50 = 161.8% on the 1 hr. The FTSE is unlikely to get above 5640 at this rate.
 
Dick Lexic said:
it would be nice if she would just leg it :LOL:
Click to expand...

I think she didn't like anyone looking at her legs, which at the moment are a little bandy.

On the 1 hr chart we have 4 very clear long wicks showing that someone is very determined to sell at resistance.

And while I am posting a chart up, I usually ignore price levels from out of market hours between 1am and 7am, because I just don't believe the UK traders take them seriously. Case in point, if you used the overnight lows from sunday night, you would have missed the perfect 161.8% extension we got yesterday. I believe traders are happy to take price level from between 7am and 8am, and if you do that you would have got the turn exactly yesterday at 4:20pm.
 

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MartinC-J said:
I think she didn't like anyone looking at her legs, which at the moment are a little bandy.

On the 1 hr chart we have 4 very clear long wicks showing that someone is very determined to sell at resistance.

And while I am posting a chart up, I usually ignore price levels from out of market hours between 1am and 7am, because I just don't believe the UK traders take them seriously. Case in point, if you used the overnight lows from sunday night, you would have missed the perfect 161.8% extension we got yesterday. I believe traders are happy to take price level from between 7am and 8am, and if you do that you would have got the turn exactly yesterday at 4:20pm.
Click to expand...

think you might have missed this post martin

Dick Lexic said:
bouncing of 61 fib again at 612
Click to expand...

as for candles well sometimes it depends what time frame you look at
 
Dick Lexic said:
think you might have missed this post martin
Click to expand...

Dick are you using cash prices or futures prices? I don't see a 61.8% retracement at 5612 on the futures chart. You might have to spell it out for me.

I do think it shows what kind of price engineering was going on in the last 5 hours. We got 4 hours of capping the price at 5635 to 5640. Then over lunchtime when it should be quiet, there is a big breakout on the FTSE, that is not matched on the ES or FESX. All morning the ES and FESX have been going up when the FTSE was trying to go down.

Looks to me as if they are trying to force it up to the 161.8% extension in the 5680 region. I still see the ES bouncing off 1291.50 which is its 161.8% extension some time today.
 
MartinC-J said:
Dick are you using cash prices or futures prices? I don't see a 61.8% retracement at 5612 on the futures chart. You might have to spell it out for me.

I do think it shows what kind of price engineering was going on in the last 5 hours. We got 4 hours of capping the price at 5635 to 5640. Then over lunchtime when it should be quiet, there is a big breakout on the FTSE, that is not matched on the ES or FESX. All morning the ES and FESX have been going up when the FTSE was trying to go down.

Looks to me as if they are trying to force it up to the 161.8% extension in the 5680 region. I still see the ES bouncing off 1291.50 which is its 161.8% extension some time today.
Click to expand...

cash prices martin ...sb chart attached....
 

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one of those days again

no sign of a signal so sitting here like a lemon watching it ramp up

the only signal came last night and I chose not to take it as it was quite late in the day
 
interesting day.

we got our 8:30 reversal (mostly ignored by dow which resulted in ftse -17 weak on that downmove) and 9:00 a tad early, now as the pic dow has fallen away a bit with ftse not keen to follow. The net result is that ftse is about +7 strong compared with dow from where it was a yeserday close.
 

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Dick Lexic said:
cash prices martin ...sb chart attached....
Click to expand...

Ta Dick. I like the smiley face function on your charts. Very helpful with predicting a head and no shoulders pattern!

ES has put in its 161.8% extension, at least close enough, but at some stage, probably fairly soon, we should see the move to 1300.
 
I'd like to see the ES pull back to 1282 to 1284, before having another go up.

The FTSE hasn't quite caught up. It is slightly short of hitting its upper channel line resistance and is still some 10+ pts short of its 161.8% extension.
 
Well that was a day of engineering and manipulation. There must have been a fight between a couple of big boys. And we got a strong take down of the FTSE after 4:30pm that wasn't matched by the ES.

Don't know what to make of it, but I haven't seen the FTSE make such a determined effort not to match the ES in a long time.

I actually think the spreadbetting market has an influence on how the FTSE futures are manipulated. The ES and FESX have too much volume to be manipulated, but the FTSE doesn't. And it does seem a lot of people spreadbet the FTSE.
 
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