FTSE

Sure did remo

As it happened, I had a short order already in but my 5 minute trading system also triggered a sell signal at exactly 6377 after it reached 6384. Nice

Jackozy wrote: FTSE at 6380 currently....

I hope you took that short jackozy.
I did thanks to you pointing it out as i was busy at the time arranging things
Its currently a free trade for me now
I actually totally forgot about that level as i thought it got close to it the other day but it turns out it was about 25 points away so that level was still a valid short for a first attempt basis trade.
Thanks for highlighting it

Well, I decided to chance a chart after my "FTSE is off the chart" comment and the only one that is reasonable has a 13 year timeframe and suggests a current top in the 6,600 region (declining).

I would therefore suggest a short at anything above 6,575 anytime in the next three to six months.

Aside from that, I would be very careful

F4T

uk.advfn.com/p.php?pid=chartscreenshot&u...f01gi6qhKTkj7gQsUrkA

I see the DOW is taking a breather. Will be interesting to see where it closes. If it finishes up then the world has gone mad.

These are the options:

1. Wait for the retrace, buy low sell high
2. Or get in with the momentum, risk is high as there could be a retrace

There are merits in both - but it depends on what kind of trader you are. I prefer to buy low - as the correction/retracement always happen

I would say that the continued rise in main indices is becoming slightly ridiculous.

FTSE is pretty much off the chart and extended to the extreme. Someone is going to hurt when the catalyst for a retrace materialises. It is not in my vision yet but is bound to come stateside.

GL )
F4T