As the UK100/FTSE reaches its historical high at 7127, I am looking for a clear opportunity to short and scale out potential profits at clear S/R points.
Comment:
Still climbing, currently at 7093. Waiting for further movement for a clear signal and to reduce stop loss gap.
Comment:
Open SHORT position at 7101.80 with S/L at 1737
Comment:
Correction S/L: 7137
Comment:
Comment:
Short FTSE is now in the money, however it is still too early to tell if this is a reversal. I will leave S/L as is until there is a definitive move downward before setting B/E. There could still be another test on the support to come.
Trade closed manually:
Looks like UK100 is continuing its test of precious highs, it did not break down dramatically as I anticipated. Will let it test again, clear my mind and see it from a fresh perspective. Closed at +18
Trade active:
Took another short position this morning at 7098 as FTSE retested its highs. It went as high as 7124 and was rejected. That was the candle I was looking for.
Let's see if this is where it breaks down as there are now 3 tops, the last one being lower than the rest. Good luck all.
S/L at 7133.
Let's see if this is where it breaks down as there are now 3 tops, the last one being lower than the rest. Good luck all.
S/L at 7133.
Comment:
You could wait till a clear breakdown and retest or you can take a bit more risk and get in now. This trade will most likely have to be held over the weekend into next week. Let's see.
Trade closed: stop reached:
I got stopped out and UK100 broke its all time high by a few pips. Going to sit back and see what happens now. -34.5 pips. Happy New year everyone!