anyways, no point sobbing about it, found some more potential setups I'm going to try and play.
possible shorts: HSBA and SPD
possible long DIS
Agree on HSBA (currently my only imminent short target in FTSE100) and SPD: I should be able to short HSBA after 1 more weak close below the range of 20/03, using high that day as stop. My (conservative) system won't get me into SPD for about another 3 weeks.
Partly I need SPD to print a consistent trend rather than simply breach or close above/below a certain level. Its a trend-following technique so I accept I will always miss the earliest part of a trend and most break-outs.
Your stop placement makes sense on the time / risk scale that works for your system, there's no single stop location that would be right or wrong for everyone. The important things about our respective stops are that they are derived from TA not just acceptable points or £ loss. People will say that a stop far above a short entry is taking on too much risk: really it depends on how many £ or p per point you stake.
The Italy 40 made a nice uptrend pin bar today, I would trade it if I had the capital
Instead I found this Italian stock Generali (G) which i am confident will rise in the next couple trading sessions
Hi DG, the way you draw your trendlines here is a bit confusing for me. Are you drawing them off wick of the candles or off the bottom of the body? Looks like you are doing both, but perhaps you should choose one or the other for consistency?