The transition to Futures trading

[tech/a]

Yeh was talking about the DAX.

Would an article on price action both bull and bearish
As price comes into support or resistance then action
After be useful--coupled with volume?

 

[pavilion103]

Sounds good Tech.

Interesting that the DAX is relatively weaker than the FTSE, whereas at the highs a couple of months back the DAX was pushing up strongly while the FTSE was struggling at resistance.

The one that interests me is the DOW. It has continued to move up with little disturbance. Here is a chart. I've drawn in the last bar in big. It's taken out a few bars. Interesting to see if there is follow through next bar and into next week.

My thinking is slightly to the downside on the FTSE now. It has struggled to push up this week and formed a triple top on the 30 min chart. I would have held one of the contracts last night if price has pushed down a little more. The move wasn't forceful enough yet to justify me holding. But I'm hoping to get on one Monday.

In the back of my mind I'm considering the possibility that this is the failed push up after that initial smash down. I want to position myself in case it is.

 

[pavilion103]

A couple of aggressive open trades with good background context.

Worth the risk IMO.

 

[pavilion103]

Last night's trade.

Worth putting in a profit take order in future IMO.

No harm putting on say, 50 points away from entry. If it gets taken I'm happy (can't anticipate a bigger move than that overnight, it would be rare). If not, no harm. Leaving it overnight the problem is you can give back profit while you're asleep, so at least the profit take order helps a little.

 

[pavilion103]

SPI worth setting a short position trade?

5510 buy-stop entry 5555 stop

 

[pavilion103]

I'll put up a chart if I get time tonight. Not sure I will.
My thinking is it looks a little weak and if the US pushes down further following Friday's action, we could see a down move (not sure how far).

I'm not holding this opinion strongly, but just considering the possibilities.

 

[pavilion103]

And as I say that price shoots up higher :

 

[pavilion103]

Price rounding over a bit here on the SPI at 5530ish.

I'm not going to be trading the SPI, except maybe consider it for position trades.

I wonder if 5530, stop 5555 is a good spot for 25 points risk =$500.

Interesting from here. Given 5535 is a bit of a resistance level and so is 5555 obviously.


Markets this week will be interesting. Could give some indication of whether we are looking bearish or not in the coming weeks.

 

[pavilion103]

Another 40 points tonight. On a roll.
Decided to close a couple early tonight.

Hoping tomorrow I get a chance to post some setups.

Anyone else on? Sick of talking about myself

 

[payday]

Another 40 points tonight. On a roll.
Decided to close a couple early tonight.

Hoping tomorrow I get a chance to post some setups.

Anyone else on? Sick of talking about myself

I'm always on pav. I don't trade the European markets but always follow your posts Pav. Just closed out a HG short I put on last night. Still looking quite weak though so waiting to see if another short reentry occurs. Markets have been coiling a bit the last few nights and with this weeks market moving reports out, I expect some decent sized moves one way or the other. Keep posting

 

[cynic]

...
Anyone else on? Sick of talking about myself

Apologies Pav. I've been a bit preoccupied for the past few days.

Not a lot to say ATM except that the current bullishness might have been surprising if I didn't already know better than to place implicit trust in my logical analyses of published factors.

Happily my FTSE Grail has bounced back but my DAX goose appears to have gone to sleep again.

My recent experiments on the DOW appear to have stabilised but seem unlikely to cross the profit line this quarter and my decision to short the Hang Seng this month is proving to be a disaster! (Luckily my position size was miniscule.)

 

[subterfuge]

Another 40 points tonight. On a roll.
Decided to close a couple early tonight.


Anyone else on? Sick of talking about myself

I think the rest of us are busy losing money!

 

[CanOz]

Some good trading pops on the HHI and the HSI lately, maybe you PAT guys should try it, looks quite tradable.

 

[5oclock]

Another 40 points tonight. On a roll.
Decided to close a couple early tonight.

Hoping tomorrow I get a chance to post some setups.

Anyone else on? Sick of talking about myself

Gday PAV----just been rereading this whole thread!!! Well , still not finished, but it has been one of the best threads on this or any forum!Quite a good read when looking at it this way--i mean i have read it in real time as it happened, but its good being able to see the next "episode"straight away.Anyhow,just thought i would pop my head up incase you thought you were just talking to your self--i will endeavour to and my two bobs worth a bit more often, mean time your time and effort is appreciated--keep up the good work.

 

[pavilion103]

Last night's short after open.

 

[pavilion103]

Took this great trade on open too, however anticipated a bull-trend day so I left it and got taken out at BE after being over 30 up in the first few minutes of trading

 

[pavilion103]

Had left the house by the time this one came last night. Obvious support level and I took my short trades off around the second long entry trigger here at the 6745 level.

I actually took a long on my phone at 6755 with a stop at 6749. It had consolidated for a number of bars and I was willing to bet either way if it broke lower or higher, for a small risk.
I only took 1 contract.

I think lifted for no real reason at 6766 to take a small profit. I went out to a dinner and then turned it off.

 

[pavilion103]

So overall while a decent night for 40 points total it could have been much better (but it always can).
I lost some points in between also here and there. Often from getting out of decent trades! and re-entering

Had I taken at least 20 of the initial 30 points made in the first 5 minutes I would have been more content. It always had to consolidate, I should have been aware of that and planned a re-entry strategy.

Also cost myself at least 15-20 by lifting the last long too early, but I didn't want to keep checking it while I was out.

 

[pavilion103]

The night before could have been anything.

Here it is.

I was down 30 points not long after the open with stupid trades.

I then saw this good setup as it pushed up a little at resistance but struggled to move up.

I took 2 x contracts with 5 points risk each.

Left stop at initial stop and rode it all night.

It smashed down hours later. I lifted one for 40 points profit and moved the second stop to 6755.

I figured it wouldn't push back up and overall things looked a little bearish.

Can't believe I got taken out and gave back 40 points of open profit.


Was 30 points down.
Could have been 50 points up, had I taken BOTH off at 6720.
Ended up 15 points up.
That night could have been anything!

 

[payday]

Are you actually awake when you are in the trades or do you go to sleep?
I ask because if you were awake, I am sure that watching the price go all the way back up would have been difficult