Anyone scalping the FTSE Futures??

ES is headed for 1356.75. Will probably break through it, but I have a buy order sitting at 1357 and a 6 tick stop. Should be my last trade of the day. As for the FTSE 5843 is the support.
 
nice entry, fletch :)

just keep your eye on the difference - while ftse had that 10 minute burst of strength it never took a backward step. When you get a really sharp burst of difference like that and assuming the actual ftse and dow prices keep moving and don't become static you can safely hang on 'til you get a backwards 2 or 3 points of difference showing up
 
Shire, Serco Group, Standard Chartered, British American Tobacco, Ashmore Group and CRH all go ex div tomorrow. So the Index will adjust 11.01 points at some point after the close today if you are using a SB company.

Hopefully enjoy a push to the close but exit before the bell :D
 
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Thx Reksa

Funny morning. ftse opened -38 weak vs dow. Did a pair soon as I could and by 8:30 was net +6. Played the 8:30 reversal which went ok for a bit but hedged it when it came back to underwater. So now I've got pair x 2 running and damn ftse suddenly gone weak again.
 
Wow, feel like we have been waiting for this for a long time.

A new low. Out of the range :clap::clap::clap:
 
anyone finding it hard to short this Market

after the small rangey moves weve had im finding it difficult to get back into my old frame of mind..
 
Anyone tempted to catch the falling knife should be pretty safe with a dow hedge if it goes under. ftse about 50 down on where it should be relative to dow from last night's ftse close and it's been holding at that for a bit.
 
Chalky - You should have been able to get the first short at around 8:20 am. We got a nice small 5 min candle at the mid boly band, and a break below this was your entry short. I closed when the ES hit the 1356.75 from 29th Feb. The FTSE actually pulled up just shy of its level at 5822. The next short was a break of this level. I had 1353 on the ES for my next level down, and closed my FTSE short when the ES hit this level. Most of the move was done by now, and you can see from the price action that it wasn't sure what to do next. The ES put in an almost exact Fib extension of 127% (using the low and the high of the last 3 days) before it reached bottom. The FTSE put in an exact 261.8% fib extension (using yesterdays 9am low and 1pm high).

The long uptrend on the daily is busted finally. We should get an up day tomorrow before more down on thursday.
 
MartinC-J said:
Chalky - You should have been able to get the first short at around 8:20 am. We got a nice small 5 min candle at the mid boly band, and a break below this was your entry short. I closed when the ES hit the 1356.75 from 29th Feb. The FTSE actually pulled up just shy of its level at 5822. The next short was a break of this level. I had 1353 on the ES for my next level down, and closed my FTSE short when the ES hit this level. Most of the move was done by now, and you can see from the price action that it wasn't sure what to do next. The ES put in an almost exact Fib extension of 127% (using the low and the high of the last 3 days) before it reached bottom. The FTSE put in an exact 261.8% fib extension (using yesterdays 9am low and 1pm high).

The long uptrend on the daily is busted finally. We should get an up day tomorrow before more down on thursday.
Click to expand...

Hi Martin

I was short but closed for way too little and couldnt seem to bring myself to get back in

Am currently long 5796 looking for a pop to 5820
 
Chalky - it's very difficult to get back in sometimes when it is fluid and jumping around a bit. Especially after a biggish move, the temptation to get in after a long down candle is very strong. Also we have been ranging for so many days, it's hard to change your bias when there really is a breakout and a trend.
 
MartinC-J said:
Chalky - it's very difficult to get back in sometimes when it is fluid and jumping around a bit. Especially after a biggish move, the temptation to get in after a long down candle is very strong. Also we have been ranging for so many days, it's hard to change your bias when there really is a breakout and a trend.
Click to expand...

I have 5845 as 38% retracement of the down move over the last two days, this coincides with 62% of todays selloff and s1 (IG figures)

so if we manage a bounce this afternoon, or tomorrow morning that makes a sensible (to me) target.

otherwise much below 5800 seems hard to imagine at the moment.....
 
reksa said:
Chalky, what are the benefits of trading the Futures over the Cash with IG?
Click to expand...

I currently trade the Ftse futs with Worldspreads as they do 0 pts spread, i do use IG charts though and trade the DAX with them.

I got a letter today though stating that they (worldspreads) are withdrawing the ftse from the 0 points spread offer, so that may change, although they say that they will offer 0.5 points spread so maybe that will be OK.
 
If there isn't a move back up by now, then it doesn't bode too well for the afternoon session. I have 1344 (161.8%) for target on the ES
 
I've started adding small longs on a spreadbet platform, and these are swing trades to keep till tomorrow. I still think the ES will see 1344 and possibly 1342. Will add more small longs if it gets there. I have to believe there will be a bounce tomorrow, but I could be wrong, so don't copy me.
 
MartinC-J said:
I've started adding small longs on a spreadbet platform, and these are swing trades to keep till tomorrow. I still think the ES will see 1344 and possibly 1342. Will add more small longs if it gets there. I have to believe there will be a bounce tomorrow, but I could be wrong, so don't copy me.
Click to expand...

Nice call re the ES MArtin

sitting on hands here looking to build a long position in the near future myself but market doesnt look like it wants to go up 5800 cash should trade again soon IMHO.

5749 is S3 (sharescope futs prices) so possibly a level to watch.

I still cant short it this afternoon:mad:
 
Chalky, I took the first short at 14:36, but after that I wasn't interested. It is so hard to get on the bus after it has left.

I am looking to see what the price does when it retraces to a moving average that it tagged earlier. It's at the 10 EMA on the 5 min chart right now. I think it will try one last move back down, and I am hoping it fails.

I am also watching what it does at the 20 EMA on the 5mc. It always comes back to test this at some stage, and usually good for a scalp bounce.
 
Just bounced off the 20 EMA on the 5 min chart. I am not sure now if we continue to go up. I think we will flip flop maybe until 4:30pm.
 
barjon said:
Anyone tempted to catch the falling knife should be pretty safe with a dow hedge if it goes under. ftse about 50 down on where it should be relative to dow from last night's ftse close and it's been holding at that for a bit.
Click to expand...

Well that wouldn't have done you much good as it finished up -57 weak on the day (the most extreme day this year so far). And it was weak all day except for a little burst between 12:00 and 13:00.

Trust me to be running two!! Currently -17 on the first and -14 on the second. I'll see how it goes up to dow close and may hold overnight.
 
Today I sold at 5846 and took profits twice around 5787. The price went horizontal around 5812 between 10:15 and 2:00pm, but I stuck with it. I got lucky. I guessed right and I suppose it could go as low as 5700. Did anyone see this coming. Is there a better explkanation than I had a hunch?
 
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