Anyone scalping the FTSE Futures??

[dc2000]

Many thanks DC.

If I understand this correctly. The Dow is having 3 days of a correction to the downside. That's three down waves and two smaller waves up. When the three days are up, it should do five up waves???

The FTSE is at the end of 5 up waves. That's 5 up waves, and 4 down waves. When that is finished, the FTSE should have 3 down waves???

As you can tell. I don't know how many waves I should be looking for in a series, and when it should be a three or a five. When you feel you want to explain, please do.

Hi Martin
sorry its not EW
a three is a strong pattern for continuation of the trend and provides a very good swing entry

 

[MartinC-J]

Hi Martin
sorry its not EW
a three is a strong pattern for continuation of the trend and provides a very good swing entry

Thanks DC. I will understand this eventually.

On the FTSE futures there is a blocker sitting on the bid at 5150 and it has been there all morning. If it gets taken out will that mean freefall to the next level down at 5120. It might need the GDP data to be out before it does that.

 

[DaddyJohn]

just to confirm Im short this morning on the DOW which only needs to print 10975 but watching the FTSE for signal that needs to get 5086 area then I will be buying the DOW and FTSE

5086 in the cash is about 5963 in futures which is 61.8 retracement of the move DC is talking about I think.

 

[DaddyJohn]

5086 in the cash is about 5963 in futures which is 61.8 retracement of the move DC is talking about I think.

Sorry 5063

 

[DaddyJohn]

just to confirm Im short this morning on the DOW which only needs to print 10975 but watching the FTSE for signal that needs to get 5086 area then I will be buying the DOW and FTSE

DC , I would have thought the chances of getting to 5086 today were at best 50.50 but I can see why it makes a sensible target for buying

 

[DaddyJohn]

No way that news was leaked then!!!

 

[samirs]

No way that news was leaked then!!!

no chance....it is flying....

 

[dc2000]

DC , I would have thought the chances of getting to 5086 today were at best 50.50 but I can see why it makes a sensible target for buying

so do I in the normal session the FTSE still has to produce a low tomorrow and the DOW produce one today at least 10975

currently short DOW and FTSE looking to hold over on FTSE

 

[DaddyJohn]

so do I in the normal session the FTSE still has to produce a low tomorrow and the DOW produce one today at least 10975

currently short DOW and FTSE looking to hold over on FTSE

Somehow I just couldn't believe in that rally, am short 5197 on futures

 

[DaddyJohn]

Could be a long night

 

[dc2000]

FTSE has just produced a target 5035 now thats interesting if we get 125 or lower in to close as a buy around 086 most stops would be down to 035

 

[MartinC-J]

Just some observations:

FTSE Cash = FTSE Futures + 25
DOW Cash = DOW Mini YM +75

On the 5 min chart we had a very nice GBI at 15:10. That's a green bar ignored. Don't usually get them early in a trend but someone was trying to hold the level on the ES, but gave up leading to a bigger fall.

4pm squaring up kicked in a little earlier today at 3:48pm. We should waffle around now until the cash close at 4:30pm.

Making a stupid assumption that this afternoons 90 pt fall on the FTSE should be repeated again this evening, then to reach DC's target of 5086 cash 5063 futures, then the FTSE future should pull back to the 5150 area, which it has already done. But that would be too simple and just a guess from me. More likely watch price action at 5170 (38%), 5181(50%), 5191 (61.8%) on the 1 hr chart.

 

[Dick Lexic]

end of quarter tomorrow

 

[DaddyJohn]

FTSE has just produced a target 5035 now thats interesting if we get 125 or lower in to close as a buy around 086 most stops would be down to 035

Got out at 5145. Looking at a reentry captain

 

[MartinC-J]

Does anyone have a view on what I call "blockers" on the order book. Blockers are usually large lots of 200 or more on the bid or the offer. Today we had a blocker of some 300+ lots on the bid at 5150 since 8am. It got taken out at 15:42, but not without whoever it was doubling up the order as it was being filled. They ended up buying over 1000 lots in the space of a minute. Now I always ask WHY?

Anyone with the pockets to buy 1000 lots must know what they are doing. Are they closing shorts or are they opening new positions? Are they long term trades or just for a day or two? Anyone got any ideas as to why they are doing this, and why they are so open about it? Surely they could just program a bot to buy 1000 lots at 5150 and keep refilling the order. They don't need to sit the order out there all day.

Blockers usually appear in quieter markets and usually are put on 1 tick below or above a previous swing low/high. Any ideas anyone?

 

[motion100]

was fun to watch eh. i would imagine its to do with option expiry.

 

[Dick Lexic]

anyone think those honest chappies will be busy buying soon?

guess they were

A …market is engineered up
B …Bens speech/sell of
C …result almost 400 points

D …market engineered down
E …Bens speech/ buy up
F …result almost 400 points

 

[samirs]

FTSE has just produced a target 5035 now thats interesting if we get 125 or lower in to close as a buy around 086 most stops would be down to 035

 

[dc2000]

not much more you can say about tonights action just wait for the FTSE to get the party started in the morning

travelling most of day so will leave orders in

it'll be nice to have the DOW back at 11898 and lose some volatility ( FTSE 5715provisional )

I will be looking for gap down then fall to target then W pattern for the entry once the DOW has made its low in the UK session, looking for 10995area, I dont expect it to revisit once the US session opens

a gap up on the FTSE would alter low target and push the plan into monday

a gap on FTSE for me is currently greater than 15 points either side of close

 

[DaddyJohn]

guess they were

A …market is engineered up
B …Bens speech/sell of
C …result almost 400 points

D …market engineered down
E …Bens speech/ buy up
F …result almost 400 points

Dick, what is your thoughts on qtr end price action today? my view is that closing out short positions to balance the books , plus need to get price up to produce best qtr results they can for equity funds will push prices ups. Of course you could argue that banks need to offload risk assets to ensure balance sheet looks good at qtr end.