Anyone scalping the FTSE Futures??

[wallstreetwarrior87]

RHS forming now -

 

[Dentalfloss]

 

[Dentalfloss]

 

[wallstreetwarrior87]

Popped the RHS on liquidating vol - more upside should come

 

[wallstreetwarrior87]

next phase would be 28030/40

 

[wallstreetwarrior87]

Then see if sellers step in (movement with attached volume) - if not we can thrust upside again.

 

[wallstreetwarrior87]

Ok thats the sellers from 6pm and 6.15 pm stopped out - either they come back in short, or we are moving higher.

 

[Dentalfloss]

 

[Dentalfloss]

 

[Dentalfloss]

tricky

 

[Dentalfloss]

Assuming that red is the bottom of the pattern

 

[Dowser]

Long 27935, stop -100

Moved stop to +50

 

[Dowser]

Moved stop to +50

Out +50

 

[wallstreetwarrior87]

Sellers still about from that zone, potentially drying up, but still in a danger zone for long currently - and stop to wide to consider short either. Bide time here

 

[Dentalfloss]

Out +50

 

[wallstreetwarrior87]

But dont bide too long

 

[wallstreetwarrior87]

Ideally Dow to hold above 28030 now if we are to get a new buy leg opportunity.

 

[Dowser]

Out +50

Hard to know how to trade days like these, when we only get them once every blue moon. Do you just jump in Short and hope you're not the greater fool or try and catch the falling knife? Looking at the chart now, I should of moved my stop to B/E and no more. I was looking at the 28015-28075 area and thought if it was rejected, it would tank - it didn't!

 

[wallstreetwarrior87]

Hard to know how to trade days like these, when we only get them once every blue moon. Do you just jump in Short and hope you're not the greater fool or try and catch the falling knife? Looking at the chart now, I should of moved my stop to B/E and no more. I was looking at the 28015-28075 area and thought if it was rejected, it would tank - it didn't!

Its the ultimate test of trading psychology. Scared of giving back, when having in the hand etc. Very hard, then ego gets affected, then we switch to fear and greed, all based on a perception.

Days like this highlight the issue, but they are rare, maybe 5 days per year?

All fractals get expanded, so even if you dont get short, you need to wait to get long, as even though we have fallen so far, it doesnt mean sellers are in all the way. Far from it - most of the move was caused from buyers, re-buying each low and getting dumped, thats how markets work their way down in this structure.

+50 is +50 though 🍾🥂

 

[wallstreetwarrior87]

IMHO I dont think retail went short with conviction until 5pm and 6pm.

The rest of the downside was just churning positions over and over.