Anyone scalping the FTSE Futures??

[dc2000]

out @249 and will wait now

 

[DaddyJohn]

Ok , heads up everyone !!!! for those that don't keep abreast of the news, we have a very important announcement at 9am. This is the German Constitutional Courts ruling on if the current bailout activities of the gov't and the ECB are illegal !!!!! The current market view is that they will say "it is ok , but in future the gov't must pass through the Bundestag before committing anymore funds" however, if they say the unthinkable and make a judgement that the bailouts are illegal" then game over my friends !!!

 

[dc2000]

Thank you for that call plus all your recent observations.

your welcome

sat on sidelines now Iwould like a little sideways bounce and a shakeout for next few hours then look for a position Im looking for a long but would want a much better price than weve had so far this morning

 

[MartinC-J]

out @249 and will wait now

DC - you scalper you.

DJ - here's an article inthe FT on the german vote:

German court to rule on eurozone rescue - FT.com

 

[DaddyJohn]

We may not get the news exactly on 9am - however, it will be around that time. You can guarantee the big trading houses will have people on the ground , so they will get the news first. But if you see wil swings in price action, you know something is known. Will keep you abreast

 

[DaddyJohn]

A good summary - thanks

 

[DaddyJohn]

Court rules that actions are not illegal, however states that further bailouts must be approved by bundestag. Ct rules that the ruling was tight ..... market now assessing implications to Merkels ability to get funding given her slim majority and rebellious ministers. Ct ruling will of course guide these people in voting new measures.

 

[DaddyJohn]

Please let me know if these news clips are not useful... I know that some traders dont subcribe to live news flows. But if you all have this , then I know not to waste your time. Cheers

 

[reksa]

Please let me know if these news clips are not useful... I know that some traders dont subcribe to live news flows. But if you all have this , then I know not to waste your time. Cheers

I like to think most people are on the ball and keep up with whats going on.

But these updates are still useful.

My wire did not have the 48 rule yesterday until way after you mentioned it so thanks.

 

[reksa]

FTSE has tested the R2 @ 5248 many times todays. Its holding well as a support.

 

[dc2000]

DC - you scalper you.

just had a look that was the shortest trade time wise for 4 years

teh FTSE for now doing whats expected, still wanting a better price under 240 the 142 remains in play from yesterday closing action my preference for this is late Thursday or early Friday from gap down
Todays J pattern is a little hard to see at the moment but a slow fall into the 1:30 timeframe and a hard push this afternoon would complete, then we get a Z and inverted V

 

[dc2000]

Please let me know if these news clips are not useful... I know that some traders dont subcribe to live news flows. But if you all have this , then I know not to waste your time. Cheers

its good to have a headsup on here I have a news feed but can often be on the forum and will miss things the ruling yesterday for instance

 

[dc2000]

looking for the 5206 5216 area for the long

 

[dc2000]

wow missed that sweet little move from the 36 to 56 had my finger on the button but then posted on T2W

 

[MartinC-J]

I use S/R levels lots to determine price targets and areas where price will bounce. But there are times when the FTSE just bounces off nothing, and you are left scratching your head as to why it turned where it did. This morning the FTSE did that at 11:20am.

It was in a downtrend and the next level down was at 5223.5 which it should have reached but it reversed off 5233.5, 10 pts higher. It pays to watch the ES as well, because it clearly bounced off the 1172.0 level at the same time the FTSE reversed.

Now I don't expect ES levels to be quite so important in the first hour of trading 8am to 9am, but late morning it is worth seeing the influence of the US market coming in to play.

Hopefully you can see it clearly on the attched charts.

 

[DaddyJohn]

just had a look that was the shortest trade time wise for 4 years

teh FTSE for now doing whats expected, still wanting a better price under 240 the 142 remains in play from yesterday closing action my preference for this is late Thursday or early Friday from gap down
Todays J pattern is a little hard to see at the moment but a slow fall into the 1:30 timeframe and a hard push this afternoon would complete, then we get a Z and inverted

DC are you using market profile to define these pattern?

 

[dc2000]

It was in a downtrend and the next level down was at 5223.5 which it should have reached but it reversed off 5233.5, 10 pts higher. .

the price came from the trades @9:40 the next price should be 208 @1:40

 

[MartinC-J]

DJ - I don't think his old calculator has market profile on it. DC has clearly worked out how the big boys move it up and down, and he is unlikely to spill the beans to us. But he does give us some good guidance, especially now that he is a scalper!

 

[dc2000]

DC are you using market profile to define these pattern?

is that a website or service ? but no would be the answer

 

[dc2000]

DJ - I don't think his old calculator has market profile on it. DC has clearly worked out how the big boys move it up and down, and he is unlikely to spill the beans to us. But he does give us some good guidance, especially now that he is a scalper!

lets make it interesting if we hit 208 circa 1:40 +/-10 I open the beans, if not beans in cupboard