The transition to Futures trading

[fiftyeight]

Out for a small profit, work still needed on exits

 

[pavilion103]

Resistance around 6390 and just below which has been tested multiple times in the last 2 weeks.

I wonder if this is heading down before it's heading up.

 

[dlineinvestor]

Futures, stocks or forex, I keep seeing this "pattern in all time frames. It's worth waiting for and the break is usually
clean !
Any of you use it ? The target is usual more than the equal but drop one contract at the equal and let the other run. Low risk at the retest with stop above cheers

 

[pavilion103]

Down 25.

Price action choppy.

Poor trading too. Should have lost 10.

 

[barney]

My gut feel would be any moves greater than 10% would be an indication to start looking for Short entries on any bounces cause they may be dead cats .... particularly if the next up move is sharp and into new highs (red flag!) If it just grinds upwards slowly its likely heading back into a trading range.

History repeats (SPI).

10.5% Down in 28 Days (Shorting = high risk)

6% reversal in 9 Days

Price action around the "Stars" will be interesting .....

 

[pavilion103]

BE on Friday.

Not too excited. Waiting for consolidation and then to see where it goes next.

I won't be on Mon or Tues the next 4 weeks because the new open time clashes with my course.

 

[pavilion103]

A bit slow going....

I'm about 20 up for the week.


Any thoughts on the FTSE. A few narrow range days. Struggling to move up.

I'm wondering if it is struggling and will come off. I don't want to pre-empt anything. Last night I was looking for longs. Not sure if I should look for shorts tonight or if it's too pre-emptive. Last night's long follow through wasnt convncing.

 

[tech/a]

A bit slow going....

I'm about 20 up for the week.


Any thoughts on the FTSE. A few narrow range days. Struggling to move up.

I'm wondering if it is struggling and will come off. I don't want to pre-empt anything. Last night I was looking for longs. Not sure if I should look for shorts tonight or if it's too pre-emptive. Last night's long follow through wasnt convncing.

PAV

My view is you'll see it happening if watching a 1-3 min chart/s.
You'll know the areas to watch.
Retests for best entries. When it takes off it will take of hard and fast---certainly the DAX does and the FTSE either follows or leads.

 

[pavilion103]

PAV My view is you'll see it happening if watching a 1-3 min chart/s. You'll know the areas to watch. Retests for best entries. When it takes off it will take of hard and fast---certainly the DAX does and the FTSE either follows or leads.

Are you thinking along similar lines?

The last 2 bars make me want to look for a test of a resistance area and short.

But apart from that it is still in an uptrend and hasn't exactly looked like a top.

I'm thinking of drawing a box around the last few bars and taking it from there.

 

[pavilion103]

Looking at the longer term charts it doesn't look particularly bearish.
Furthermore, the low recently looks convincing and I'm not sure if it still needs to move up more possibly.

However on a smaller time frame it looks like possibly some weakness in the past few days.
Yesterday is a wierd one. It almost looks like a trap pushing above and then not going on with it.
Tonight will be interesting.

SPI also looking like the upward momentum is dying.
A short of 5410, with stop 5480 looks like a micro setup (although big risk of 70 points).


Interesting.......

 

[pavilion103]

Lucky not to get taken out on the second bar.

I expect 6420 to act as support.

 

[pavilion103]

Could have taken a low below the second bar to add to the first contract but wasn't confident enough to. Probably should have as it signaled a lot of weakness after the second bar pushed up and failed.

I don't know which direction it will go from here.
6420 was market out on my chart at the start of the day.
But I'm not exiting with just the one.

 

[pavilion103]

Look at that. The second area I marked as support here.

 

[>Apocalypto<]

I don't watch the news but anyone know what got the sellers jumping?

was a interesting time started with looking for longs then scrambling into sells.

 

[pavilion103]

Interesting if this now follows through or not. It could be an important point.

 

[skyQuake]

Interesting if this now follows through or not. It could be an important point.

Reckon that might be the low. A while ago I when i played around in the ftse seriously I noticed that 100pt daily range tended to cap moves. It was difficult to test because it had to exclude US open and the subsequent highs/lows that followed.

 

[>Apocalypto<]

i have a short open on the US2000 cfd of the Russel i believe. it's a 4 hour trade, looking to leave it run. been a nice run up looking for a bit more follow on.

 

[barney]

Interesting .....DAX conformity ........ 0.5 % retracements.

 

[pavilion103]

Decided to exit 6380.

72 points.

Cost myself about the same on Monday letting it run back up to BE.

Probably need a more decisive uptrend break to hold on.

 

[pavilion103]

That hurts. Long at 6388.5

Stopped by a point overnight !