The transition to Futures trading

[tech/a]

Another week, another opportunity. No any huge data out tonight that I can see.

Tech, any chance you can help me with my queries in the picture below?

View attachment 53223

A few notes.



Did it keep going?

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Nothing exciting me at the moment. I'm on the sidelines. I can't ascertain a clear trend.

9 min.



Made up its mind to the down side
in 6394 short Stop 6399

 

[tech/a]

At B/E
not a lot happening.

out 6382
few bucks for a few minutes.

 

[pavilion103]

Haha almost identical trade Tech.

Left chart = 3 min (see declining volume on rise)
Right chart = 5 min (see no demand bar. Loud and clear).

Now at 6375. Still holding. Stop at 6384.

 

[skyQuake]

Question for you gents and anyone trading the eurozone tonight:

Do you specifically focus on the FTSE or look at DAX, ES as well?

If answer to the above is yes, would you be trading both markets or just one? Eg looking for longs on the DAX because it is stronger, and looking for shorts on the FTSE because its weaker.

 

[pavilion103]

Got out 6379. Time to read a bit and then bed.

 

[tech/a]

Question for you gents and anyone trading the eurozone tonight:

Do you specifically focus on the FTSE or look at DAX, ES as well?

If answer to the above is yes, would you be trading both markets or just one? Eg looking for longs on the DAX because it is stronger, and looking for shorts on the FTSE because its weaker.

Me only FTSE
I ave the DAX open but don't trade it.
See plenty of setups!

I like the FTSE it seems to conform to technical signals
Nicely and lumbers along like an Elephant on Valium.
My sorta speed!

 

[pavilion103]

Just FTSE for me too. I don't want to confuse myself with too much yet.

 

[kid hustlr]

Tech the trend did keep pushing up overnight.

Appreciate your thoughts, this 'no supply bar' thing is really starting to make sense to me.

Nice trading on the FTSE gentleman. I may have a dabble tonight I dare say.

 

[tech/a]

Nice trading on the FTSE gentleman.

Sport!
Hardly a profession!

this 'no supply bar' thing is really starting to make sense to me

Its not something you see in VSA teachings and certainly not an alert.
But it is an observation I pointed out to PAV a long time ago which acts as a very good indicator far more often than not.
It needs to be read in context to the trend in which it appears.
Youll often find it buried in consolidation patterns and the smaller the pattern the better the signal Long or Short in my view---and findings.
Acts as a very good signal bar and often has a confirmed stop level (IE another close by bar has the same low OR high.).
I just use the range of that bar as the signal bar---in the direction I expect price to move.

 

[kid hustlr]

A couple of great Britain specific data points out tonight, just something to consider when thinking about a position on the FTSE boys.

 

[kid hustlr]

Tempted to set a buy stop above the first 5 min bar but I'm concerned about the previous highs from Friday night., not sure how these are past areas of support/resistance influence the R:R.

Edit:

Might regret skipping this one!

 

[kid hustlr]

Man this is brutal to watch. Definitely let an opportunity slip here. Picture below shows where I would have entered, the 60 min chart shows the resistance just above which worried me.

Live and learn!

 

[pavilion103]

Holy crap.

I DID take the trade.

Panicked as the next bar started to reverse and got out around BE.

Cannot believe I let my emotions take control. Usually I'm fairly good with that side of things.

 

[pavilion103]

Same bar that worried me too.

 

[kid hustlr]

Misery loves company Pav!

Next trade, next trade!

 

[tech/a]

Are we short now?
My stop is now B/E at 6476

On the 3 min chart you'll see the really low volume bar at 18.36
Went short a tick below the low of the previous bar when that was taken out.

 

[skyQuake]

Are we short now?
My stop is now B/E at 6476

On the 3 min chart you'll see the really low volume bar at 18.36
Went short a tick below the low of the previous bar when that was taken out.

You think the short has any legs? Imo everyone got stopped out already on the 18:50 shakeout bar

 

[pavilion103]

Are we short now?
My stop is now B/E at 6476

On the 3 min chart you'll see the really low volume bar at 18.36
Went short a tick below the low of the previous bar when that was taken out.

Yes I'm also in. Saw that bar and the following one on the 3 min chart.

I've got the 3,5 and 10 min open.

Obviously your teaching is getting through!!!

 

[tech/a]

Yes I'm also in. Saw that bar and the following one on the 3 min chart.

I've got the 3,5 and 10 min open.

Obviously your teaching is getting through!!!

Have another in the Q
at 6467 if it gets there.

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You think the short has any legs? Imo everyone got stopped out already on the 18:50 shakeout bar

Well its pretty lack luster!
At B/E its no real issue.
Note High Volume bar at 6.48 on the 3
Thats resisting at 6474

 

[kid hustlr]

Are we short now?
My stop is now B/E at 6476

On the 3 min chart you'll see the really low volume bar at 18.36
Went short a tick below the low of the previous bar when that was taken out.

Looks like this one is in the money, nice trade. I haven't really seen anything I feel comfortable trading, its a pretty slow grind at the moment.

Updated, wait a minute, here we go!