Anyone scalping the FTSE Futures??

Too afraid to sell, but don't want to buy at the top. So sitting on mitts. The ES is leading things by the look of it, but is not giving a suitable retrace for buyers to get in on. Just looks like a one way day to me at the moment. We need another higher high to confirm that.
 
Hello,
Been following this thread with interest for a while now.
I'm wondering where do you all get your levels from?

Fibonacci, Elliot Wave?

Thanks :smart:
 
So much for the one way day!! At least we are finally getting a pullback.

Lurkalot - It would be nice to be a mindreader. I wonder how good a trader Derren Brown is?
 
dan1986ccfc said:
Hello,
Been following this thread with interest for a while now.
I'm wondering where do you all get your levels from?

Fibonacci, Elliot Wave?

Thanks :smart:
Click to expand...

Dan, no one here uses Eliot Wave as far as I know. Lots of Fibonacci stuff though, and DC uses his own version of Taylor/Linda Raschke. And also making a note of prior daily highs and lows and prior swing highs and lows. But at the moment these markets are being supported, so they could go anywhere at the moment. Most people think up.
 
now that the top for the month is in what do we do

Im shorter than a short person in short shorts FTSE 5524 target 5089 then 4941

DOW still same 11022

if I was looking to join the FTSE shorting or going long intraday for the next three days, entry calc for this week is at 0.4% and 1.1%
 
dc2000 said:
now that the top for the month is in what do we do

Im shorter than a short person in short shorts FTSE 5524 target 5089 then 4941

DOW still same 11022

if I was looking to join the FTSE shorting or going long intraday for the next three days, entry calc for this week is at 0.4% and 1.1%
Click to expand...

Does that count for the DOW too? Or does that still need 11800?
 
Looks like the FTSE is treading water around 38% retracement and is waiting for the ES and FESX to catch up with it. They have a little further to fall. I've got a target of 1221.50 on the ES. Currently 1224.0.
 
reksa said:
Does that count for the DOW too? Or does that still need 11800?
Click to expand...

the DOW from last weeks action negated 11898 and produced 11695 without going low friday, this has been exceeded premarket this morning and I do expect 11695 within US session without the need to go higher
 
dc2000 said:
now that the top for the month is in what do we do

Im shorter than a short person in short shorts FTSE 5524 target 5089 then 4941

DOW still same 11022

if I was looking to join the FTSE shorting or going long intraday for the next three days, entry calc for this week is at 0.4% and 1.1%
Click to expand...

Hi DC.. good to have you back... I am also short FTSE at 5520 futures..

think you might need to clarify your last statement here.. I am assuming your % is from the cash close friday.. but you seem to be stating these levels as good for shorting and buying..

how was the trip down south? is this where you bought your shorts? we do a good range down here you know.
 
DaddyJohn said:
Hi DC.. good to have you back... I am also short FTSE at 5520 futures..

think you might need to clarify your last statement here.. I am assuming your % is from the cash close friday.. but you seem to be stating these levels as good for shorting and buying..

how was the trip down south? is this where you bought your shorts? we do a good range down here you know.
Click to expand...

Hi DJ
the calc targets are for entry so after today if you want a short take .4% from previous days high if your looking for long 1.1% from previous days low this is valid until next tuesday
 
dc2000 said:
Hi DJ
the calc targets are for entry so after today if you want a short take .4% from previous days high if your looking for long 1.1% from previous days low this is valid until next tuesday
Click to expand...

Interesting. Is this a new approach for you as well or just something you have not posted before?.

Valid until next Tuesday, So the 26th is when it all goes down.
 
I am not sure if I am with you DC on the turn yet. I would like to see the ES reach 1250 before a bounce off it. We also have two days of big results from US companies, and I think historically markets don't usually do a whole lot during results season. We've got Citigroup and Wells Fargo at 1pm. Of course if these results are good they will sell the news, but should only be brief.

Friday's US close was quite strong, so I am not sure that this won't carry on this afternoon.
 
and yes absolutely fantastic down south gorgeous weather all weekend have seen some really nice houses down on the coast but the one that Mrs DC likes isnt for sale.

Yet
 
ES already pushed up on momentum from fridays close.. there is a strong possibility that ES now put in the high.

fly in the ointment for me today is that there is a WTI crude option expiry.. this may mean traders push oil up to squeeze... hence pushing ftse and ES higher.
 
reksa said:
Interesting. Is this a new approach for you as well or just something you have not posted before?.

Valid until next Tuesday, So the 26th is when it all goes down.
Click to expand...

no same thing I have always done just thought I would post it for once the calcs change so just valid until tuesday

this type of action and calc is normal for consolidation before more up and equally to get players on side for a quick move down if the move down then the calc would change to something like 0.9% and 2.8%
 
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