FTSE

dl.dropbox.com/u/40497882/ftse%205%20min040413.JPG

WaveSurfer wrote: 91 busted -watch it go

WaveSurfer wrote: agree RC - it's abt time need to take out some levels for full confirmation take out of 6391 and then 6335 be a good start....

dl.dropbox.com/u/40497882/FTSE100_altcountv5.JPG

SL moved to profit

91 busted -watch it go

WaveSurfer wrote: agree RC - it's abt time need to take out some levels for full confirmation take out of 6391 and then 6335 be a good start....

dl.dropbox.com/u/40497882/FTSE100_altcountv5.JPG

agree RC - it's abt time need to take out some levels for full confirmation take out of 6391 and then 6335 be a good start....

dl.dropbox.com/u/40497882/FTSE100_altcountv5.JPG

There has been a bearish divergence on the RSI since January 29th. Trying to pre-empt the indicies is almost always an expensive past-time so be careful guys.

Red Chilly - I feel your short will be successful in the end.

I feel the FTSE is coming to a short/mid term high. RSI is indicating bearish divergence at these prices, and it is just a matter of where & when rather than if imo. I almost went short last night at about 16.45 when there was a 2nd candle close under the 8ema - however, something stopped me as I thought it still had a wee bit to travel back up (the RSI still had to touch its resistance trendline also)

I never anticipated such a move down today.

My hope for tomorrow though is the price bounces off the 49sma on the daily and the 200sma on the 4H and the chart - and heads towards 6425/6450, or maybe even above(various sma's on a couple timeframes plus the 50% fib from recent high to low).
If the price starts showing weakness around this area - I will plan out a short scenario.

I would like to note that on the Daily chart the recent price moves have broken the trendline - but still to break the 49sma. once this has broke - it will confirm for that the downtrend has started.