FTSE

"textbook as usual Mr!"....now that's what I call a great trade!

Whilst I love "bottom triangles" does the reverse apply for top triangles?...or would you guys still class this as an ascending triangle and predict 6105 end of year on break north?

I've decided to close my short at this hourly trendline support:



dl.dropbox.com/u/20815047/FTSEhourly07_11_12.gif

I'll look to re-open at a Fib should it bounce.

Great trade mate.

jackozy.
Your trade looks beautiful now.
lol.

one min the dow was coming up big time then down big time.
Proper volatile day ahead i presume.
remo

Thanks remo.

Amo, I don't always use the 3 contract method but that's really just because I still feel like I'm learning to trade FX and Indices so I want to keep my exposure really small. I do think it's a great method though and, on this occasion, I did use it because it's such an important level.

I've now banked one contract and moved stops to b/e on the others. I will probably run a trailing stop on one of the remaining ones and leave the other to run as I think the markets could be due a big correction. They look bearish to me though that can quickly change.

Cheers!

great trade mate
spot on
remo