Anyone scalping the FTSE Futures??

[MartinC-J]

I noticed that too Jon, and went long for a couple of scalps.

 

[barjon]

I noticed that too Jon, and went long for a couple of scalps.

did you take you 49.5?

 

[barjon]

............ftse been strong against this opening dow fall and not keen to join in............

conversely, none too keen to follow the rise either - already anticipated it i guess

 

[MartinC-J]

did you take you 49.5?

Sorry jon, just back in from the school run. I got to do it for a change. It's always nice to pick up the tiny ones.

I pulled my limit buy order at 49.5 when I thought the down move prior the US open would be too strong. I actually went short at 54.5 at 14:31:52, but closed it at 46 and was happy to wait and see if it got to 36.5. When I saw the FTSE not make a lower low on the 1 minute chart when the ES was, I figured it was good for at least a scalp.

Also when the 20EMA on the 5 min chart got broken I went long at 58 and just closed it at the 61.8% retrace. It could go either way from here. It's up against the trendline from fridays sell off, and should bounce off a little bit.

 

[Chalky_trader]

5900 FTSE Cash - again,

sure has a strong pull

 

[MartinC-J]

That was a strong move up from our american friends. What a difference an hour can make. All morning we were watching paint dry with a slow grind down. Then when the US came in they decided they had had enough of this rubbish and got back in buying mode.

 

[barjon]

...................I pulled my limit buy order at 49.5...........

Oh ye of little faith

You were asking about pinbars the other day. Well today is going to be a right humdinger of one if it stays as it looks right now. Particularly if 50% holds on the close. Can't wait to be looking at my equities in few minutes.

jon

 

[MartinC-J]

Oh ye of little faith

You were asking about pinbars the other day. Well today is going to be a right humdinger of one if it stays as it looks right now. Particularly if 50% holds on the close. Can't wait to be looking at my equities in few minutes.

jon

Jon, I prefer to see a hammer (pinbar) at the bottom of a down move and not near the top of a long move up. The move up this afternoon in the US was a bit too sudden for my liking and we should see a retest to at least 38% = 5878.5.

As for the 49.5, goes to show how easily I chicken out of a trade! That's the life of a schizophrenic scalper. I change sides far too easily.

In summary for today the 20 EMA on the 5 minute chart has been a rock on the way down. It should provide some support when retested in the next 30 mins or so.

 

[barjon]

..............I prefer to see a hammer (pinbar) at the bottom of a down move and not near the top of a long move up......

aye, me too. But I love to see one as the last bar in a retracement (too early for ftse, of course) to the extent that I'll go double position. I was hoping the action would show through in some of the equity retracements on my watchlist, but disappointed - only two setting up and of both of them a bit iffy for other reasons.

 

[MartinC-J]

If the Dow closes above 13,000 it will be the first time since April 2008.

 

[reksa]

Any opinions on today?

The market seems to be pretty neutral at the moment. 6000 is becoming hard work.

 

[Chalky_trader]

5926 (cash) is 61% retracement of 2 day range, if i am reading it right

possibly see some selling come in here

 

[barjon]

Quiet on here today :-0 since it seems to have been quite a decent TA day so far (on the cash at least) :

Early reversal near yesterday's close
Rejection of Friday's close
Double Bottom reversal
Fib 50% calls the halt
and now a Triple Bottom - by a double sell a triple, I wonder

 

[barjon]

ps: all hindsight stuff, of course. I've had none of it

 

[Chalky_trader]

Quiet on here today :-0 since it seems to have been quite a decent TA day so far (on the cash at least) :

Early reversal near yesterday's close
Rejection of Friday's close
Double Bottom reversal
Fib 50% calls the halt
and now a Triple Bottom - by a double sell a triple, I wonder

and all within a range of 20 pts

leaving it alone here untill this afternoon

 

[Dick Lexic]

Quiet on here today :-0 since it seems to have been quite a decent TA day so far (on the cash at least) :

Early reversal near yesterday's close
Rejection of Friday's close
Double Bottom reversal
Fib 50% calls the halt
and now a Triple Bottom - by a double sell a triple, I wonder

i'll have a double please :cheesy:

 

[barjon]

i'll have a double please :cheesy:

despite the old saw, I'm long ftse/short dow . Just for something to do, really. ftse has been a bit weak vs dow but nothing to write home about.

 

[Dick Lexic]

Ooooooh, Dick! I see what you mean. There are all sorts of new buttons to press. I don't know why I did not get this, this morning, but, now, I am somewhere else and with a laptop. Perhaps, it is because I keep my home computer on hibernate overnight so as to get a quicker startup in the mornings, with no logging in needed.

I'm not a user of indicators but I'll have a look at them to see if they are pretty.

split, don't know if you have noticed the new support/resist/trend lines on these charts but i actually think they are "pretty" cool especially the lomger time frames ( they get a bit busy with lines in the lower time frames). if you haven't already done it you can switch them on in settings.... tick both the boxes for prorealtime trend lines at the top of the settings tab.

 

[Dick Lexic]

despite the old saw, I'm long ftse/short dow . Just for something to do, really. ftse has been a bit weak vs dow but nothing to write home about.

i think it's long but on the side at the mo....i'd like to see yesterdays high at least.

maybe we'll get a little leap ....last day of month tomorrow.

 

[MartinC-J]

Good morning all. I have spent this morning doing some research into the average range for the morning session of the FTSE futures. ie 8am to noon. You may find it of interest.

I have taken data from January 6th to today, covering 38 trading days of data. Now during this time the average daily range (24 hours) has dropped from 89.5 pts to 54.5 pts.

The average range for the 4 hours between 8am and noon is 39.5 pts.
This average has been falling throughout the 38 days until recently when it has started to go back up.

The average for 5 day periods is as follows:
Last 5 days 34.6
5 to 10 days ago 28.7
10 to 15 days ago 30.2
15 to 20 days ago 47.1
20 to 25 days ago 49.5
25 to 30 days ago 46.3
30 to 35 days ago 45.4

The high of the session happened 19 times between 8am and 9am
The high of the session happened 3 times between 9am and 10am
The high of the session happened 8 times between 10am and 11am
The high of the session happened 8 times between 11am and 12pm

The low of the session happened 21 times between 8am and 9am
The low of the session happened 6 times between 9am and 10am
The low of the session happened 3 times between 10am and 11am
The low of the session happened 10 times between 11am and 12pm

The average range for the 8am to 9am period is 27.3
The average range for the 9am to 10am period is 20.9
The average range for the 10am to 11am period is 17.8
The average range for the 11am to 12pm period is 14.8


Basically 50% of the time the high or low of the morning session is in the first hour.
If the opening hour has a range smaller than the average of 27 pts, you are probably in for a slow morning.