FTSE 100 intraday trading - JUNE 2003


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FTSE 100 Intraday trading-June

<img src="http://www.proudtobebritish.co.uk/ptbb/intropics/uk.gif">....................................CHAPTER 2..........................................<img src="http://www.proudtobebritish.co.uk/ptbb/intropics/uk.gif">
continued from previous thread

<img src="http://chart.neural.com/servlet/GIFChart?sym1=ls:ukx&cbcku=FFFFFF&cbckl=EBF5FF&cbckd=cccc99&ctxtu=000000&ctxtd=000000&ctxtl=000000&csym1=000099&csym3=000000&cbckg=FFFFFF&cind7a=FF0033&cind7=009900&cind8=blu&cind9=6666CC&avg1=55&avg2=510&ind7=macd&periodMACDLow=510&periodMACDHigh=60&height=350&width=450&source=SP&multipane=1&watermark=splogoblue.gif&dres=min&plottype=range&ignore=1220025226&dperiod=days&coname=1&image=PNG"></img>
<img src="http://cchart.finance.lng.yahoo.com/z?s=^ftse&a=v&p=m60,m200&t=5d&l=on&z=m&q=l"></img>
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Nasty dive late friday afternoon
And as the Dow made no progress after FTSE close,
Monday may be interesting if there is any strength in dow futures during the second half of the morning ?
Hi Bonsai,

Thank you for posting an intraday chart - could you clarify what period each price tick is. Are you aware that the Futures market for FTSE continues for intraday purposes until 5.15pm and closes at 5.30pm. People advise not to trade within the last 30 - 60 mins of the close but since moving over to Futures I have gone past 4.30pm up to just after 5pm with no problem. It can at times get narrow which is why I never spreadbet the FTSE after 4.30pm but with .5 spread taking repeated small points of 5 or staying with a firm trend is ok.

If you could clarify the above chart I would be obliged. Have a good weekend all.


Have to say I find looking at what I now feel must be a 1 min chart in this contracted form is rather interesting. Without applying indicators but just using what I consider a slightly more restricted strategy but a safer one as it only trades in line with the current trends of the day based on supporting pivots.

Applying this to your chart above we see that yesterday there were 4 trends each supporting pivot generated reasonable to good returns. First entry a buy just before 9am, then a sell after 10am followed by another buy after 1.30pm and finally another sell after 4pm. Each of these deals could have been taken when the higher pivot low following a fall in price or a lower pivot high after a rising trend was seen.

What took place in between these deals as the trends continued were then opportunities to re-join it or stay with it according to your trading strategy.

I do work from 1,3 and 5 min charts but currently only apply it to 1 screen after seeing this I may have to go out and get another monitor or a flat screen.

yes top chart is 1min range bars
Pivots - dont use them as such in my system.
My thoughts on friday were
1)-Opening fall was 3 leg. So pull back could go to 4080 (long at 65) as it did to make 4th and fill the opening gap (doesnt show on the chart).
2)Then reverse to short for 5th (out at 62 but should have stayed)
3)Low at 13.00 was 5th and False break below previous low.
4)When it cleard 60 signalled next move up (long at 70 after pullback)
5) The full move to the high was 5 legs (out at 85)
6) 4th during last rally was at 62, so will be watching that on monday opening.

This only shows that at times a number of different systems will work well enough (subject always to the trader)
You could also have traded off the macd ?
Kevin / wideboy
I posted this chart on 29th.If you remember there was a 2nd line drawn which at the time was not relevant to the days action ?


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here is the chart as of now
the 2nd line is now in play and pinpointed the late fall on friday.
With a favourable wind will provide support on monday ?
before breaking ?


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looks like the cavalry has arrived
4093 at 8.02

followed by a new high
nice bounce off my 'resistance' line ?
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tell you that friday night
5 days to make a mess of it ?
if support is at 4000 and the next important fib up is 4280
there must be some fancy dan options strangles I could open at the moment ?
If that's what your charts are saying Bonsai-It might be worth you going long on a ftse future contract!
Oh surely
but I dont like the concept of a 100 pt drawdown
while still being right. My fingernails ar not that long.
but a deal which provides a profit as long as ftse stays within my range may add a little interest.
Morning All!!

Looks like res. at 4100!

Are we expecting any news this am that could give the markets a kick start?
looking at the charts and todays leaders, I think
they have seen her coming !
Kingfisher ?
not another hair dryer !!!!
Bloomberg saying we should see another fall in Euro. consumer and business confidence. Could well be a time for a good short around 10.45 as figures released at 11am
I'll go with that could be red by 11.30.

Sellers starting to fill market.

Dow Futr's still holding strong, but how many times have we seen that before!!!!