FTSE 100 intraday trading - JUNE 2003

bonsai

Veteren member
4,106 10
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">
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continued from previous thread

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<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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bonsai

Veteren member
4,106 10
Please post here in future. The previous thread is now dormant
but remains available if you want to go back and check on anything.
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bonsai

Veteren member
4,106 10
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 ?
 

kevin546

Established member
699 0
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.

Kevin
 

kevin546

Established member
699 0
Bonsai

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.

Kevin
 

bonsai

Veteren member
4,106 10
kevin
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 ?
 

bonsai

Veteren member
4,106 10
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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bonsai

Veteren member
4,106 10
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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bonsai

Veteren member
4,106 10
looks like the cavalry has arrived
4093 at 8.02

edit
followed by a new high
nice bounce off my 'resistance' line ?
 
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rglenn

Well-known member
379 4
Looks like you'll be making a killing this week on the ftse bonsai!
 

bonsai

Veteren member
4,106 10
RRG
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 ?
 

rglenn

Well-known member
379 4
If that's what your charts are saying Bonsai-It might be worth you going long on a ftse future contract!
 

bonsai

Veteren member
4,106 10
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.
 

barney101

Junior member
14 0
Morning All!!

Looks like res. at 4100!

Are we expecting any news this am that could give the markets a kick start?
 
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