decalre your positions- FTSE 19th Nov

[wallstreet1928]

Hello people I'm back from little break and interestingly the FTSE is still keeping its support at around 4200-4100 like I said ......

I am still neutral on FTSE as it seems to be trending sideways to me for the last few days, which may possibly indicate a base being formed in the long run. but there are opportunities in the short run for shorting as outlook very weak!!

RSI - indicates a buy as approaching 30 - over sold scenario (i will buy at 4100)
bollinger bands - neutral/ negative indicating a sell at present but a buy at 4050/4100
MACD- negative although it did try to break 26 day MA yesterday, possibly a bullish sign.

another reason for shorting this morning- Ex dividend stocks shaving 20 points of FTSE this morning too...I have gone short this morning!!

I am taking my 50 points profit now as I shorted in the morning ........

I will be buying if FTSE around 4100 - 4120 for a quick 30-40 point scalp??

any other theories welcome???

 

[wallstreet1928]

OK 4120 hit ........buy buy buy!!

I will have 25 point stop loss on this as willing to risk 50% of morning profits on a risky quick trade, i'll be happy with 20 points!! !!

 

[wallstreet1928]

bad trade bad trade............almost stopped out , @ 4105 at present!!

I went short on DAX quickly as FTSE was falling and made a 10 point scalp, haha! so that should reduce my loss on FTSE if stop loss is triggered!!

It bounced off 4120 quiet strongly last night hence the reason why I entered the trade!!

 

[wallstreet1928]

ok coming back nicely 4125..............my mind is saying take profit as fear creeping in but must hold on!!

 

[KillPhil08]

taken?

 

[wallstreet1928]

OK so now I have taken 22 points profit??? I should have timed my entry better ............

 

[Trading2k]

I'm currently running a short and will stay short till 4050 on the FTSE 100. I think we are going to get a rally into December but it could be late December. This could take us back to 4500 where I will be shorting again. Anything above 4300 and I will be shorting. I will keep updates at my blog Trading 2K a financial spread betting blog trading FTSE and Dow indices.

 

[wallstreet1928]

nice blog trading 2k , i will add to my favourites

 

[HW07]

Hi there,

I just went long at 4129 on FTSE on a pin bar formed on the hourly TF touching a support line and body sitting on fib 50% from previous low and its nose poking long enough in IG charts(sb account)

It became a bit messy but now my stop is 6 points away so i am patient and wait to see how it plays.

 

[HW07]

stopped out...

 

[wallstreet1928]

unlucky mate..........don't worry keep trading!!

FTSE is very hard to predict at present....2 sectors oil and banks are dragging the FTSE down!!

but I'm suspicious of another mega Santa rally

 

[HW07]

yes, very messy action, pin is very invalid now... must stick to much cleaner setups these days.

 

[wallstreet1928]

OK so I have bought again @ 4100 .......stop loss is 25 points!!

 

[wallstreet1928]

nice little jump of 30 points........profits taken once again!!

i just realised it had jumped as i was writing on the blog to explain what I did at 14.10....

 

[wallstreet1928]

OK i will be going long again anywhere in the region of 4100 ............anybody else buying!!

 

[wallstreet1928]

bought at 4090 .............anybody else?

 

[wallstreet1928]

OK sold again with 12 points profit...............haha!! crazy day, in and out in a jiffy!!

 

[KillPhil08]

Did it even reach 4090???

 

[wallstreet1928]

I have made my £200 profit for the day..............my daily target!!

Adios amigos.......

I'm focusing on the Dow Jones now.....!! might open a few trades there and keep open for tomorrow!! !!

 

[wallstreet1928]

Oh yes indeed.........I use CMC market maker and it hit 4090 @ 15.00.........!!