FTSE

FTSE 5694 level to watch now, a break abv should open up a target to 5717/20 area

FTSE currently brushing up against the 38.2% retracemnt level from the June low, Sept high.

4H


dl.dropbox.com/u/24866576/November%20201...00%20191112%204H.gif

Have gone short on this with a tight stop.

5M



dl.dropbox.com/u/24866576/November%20201...1112%205M%201016.gif

Best,
M

i got clicked in... will be taking 1 position off the table around the 23/38 fib level and lock in, may be another entry Sunday night/ Monday morning may be on offer,if the overnight future junkies are in the mood to play... either way i will not be holding any positions over the weekend, esp with gaza situation.

Although i think we are due a short squeeze soon bwtfdik...i'm just a small fish in big pond of sharks lol

dl.dropbox.com/u/40497882/Ftse%201h_LD.jpg

Although I don't trade indices any longer, I have had my eye on 5635 for some time on the daily. It is a likely point for a bounce being the full retracement from Sept 5 low.

Indices are now becoming overextended to the downside (I usually look for anything over 6 candles for a likely counter move). US indices are also overextended with 1350 on the S&P500 and 12500 on the Dow being nice even numbers for a bounce. Possibly today, possibly monday.

Not saying this is the bottom but nothing goes down in a straight line. I expect the markets to have let off all steam by early December though ready for a santa rally.

Nothing scientific, just my thoughts from experience on how trends work.

F4T

I've gone long at 5635 support. There could be a hammer on the hourly though it's not completely convincing so I'll be looking to take some profit and move stops to b/e asap:



dl.dropbox.com/u/20815047/FTSEhourly16_11_12.gif

and I should have said, this makes the 161fib look even stronger...