Market Opened at 5372 and rose to 5377 before pulling back to 5368. With 5ema > 10ema at 5368, entered Long 5370. Market moved up to 5391 by 10:15, before pullback to 5ema support at 5382. 5400 broken at 12:22, when 50% of the Long was closed. High 5401 fell back to 5393 at Close. Target to take 30pts with 50% of Long and run the rest until the Exit criteria is met.
Daily Long signal at 5292 on Monday 21st December. 5ema (5312) > 10ema(5293)
Weekly Long signal at 4000 in April 2009 is still in play. 5ema (5281) > 10ema (5266)
12:30
5ema (5392) > 10ema (5390)
High 5401, Low 5383
Macd(5.8) and flat.
50% Long closed @ 5400 for 30pts
BB 5372-5398
11:00
Still running Long, watching for any break below 5377. Stoc broke below 70 at 10:15 showing weakness in Move up to test Yearly High 5396. 5377-5379 should provide resistance before next 23pt push up to 5400.
5ema(5383) >10ema(5380)
High 5391, Low 5383
Macd (4.6) Bull cross at 09:00 (1)
BB 5353-5392
10:00
5ema(5381) >10ema(5377)
High 5386, Low 5379
Macd (4) Bull cross at 09:00 (1)
BB 5355-5388
09:00
5ema(5375)>10ema(5371)
Macd (2) Bull cross at 09:00 (1)
Long 5370 Stop 5365 Target 5400
5ema (5369) > 10ema (5368) at 08:30
Asia up 1% will give FTSE incentive to crack through Year High 5396 and test 5400. Open expecting to be up 20pts around 5392. Daily 50ema 5222 is acting as Support with Resistance around 5400. Market closes at 12:30pm today. With Pivot point 5348 and momentum into year end, the favoured trade is LONG with Target of 5424. Looking for a High 5540 by first week of Jan 2010 when I will start placing SHORT orders longer than a few hours.
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