FTSE 5294 - 22nd Dec

Summary.
Long from Market Open @ 5294 should have been the entry as all Long indicators were signalling BUY. Entered Long on 2nd break of resistance @ 5330. Used 3 candle Rule to exit trade. i.e. Set Stop on break of low of the previous 3 candles. Trailing Stops behind Long are exiting trades with a profit, but missing out on big moves up. Will consider using 5ema < 10ema Rule as exit strategy. All 3 indicators are flashing  SHORT. Market closed on support @ 5328. Missed short entry by 1pt @ 5346.  Will be using 5ema > 10ema as an entry exit criteria as 10ema > 20ema is too slow an indicator.  Will look to enter SHORT @ 5344 with Stop @ 5354. Note to self : Should re-read my market analysis during trading day, as High 5361 was exactly on the button !!!

Long Entry Rules
1. MACD (5) Bear Cross (20) 11:45 Peak (22) 11:00 -FAIL
2. Stoc (18) > 50 - FAIL
3. 10ema(5345) > 20ema(5343) - PASS replaced by
     5ema (5342) > 10ema(5345) - FAIL


16:30 Market Close 5328
16:15  Missed short by 1pt.
16:00 Considering Short @ 5347

15:45 5ema (5346) < 10ema( 5347) - 1st Level Warning
15:30  Macd (9)
15:15 High 5361
15:00 10ema (5344) > 20ema (5340)


13:45 Low 5328
13:15 Long closed @ 5345 (3 candle low Rule)
13:00 Lunch Break (Back later this afternoon)

12:45 Stoc 5,3,3 Exponential setting
12:30 MACD 12,26,9, Exponential setting
12:15 Will close Long when 10ema < 20ema
12:00 10ema (5345) >  20ema (5332)

11:45 MACD and Stoc turned down !!!
11:30 Warning - Bearish MACD cross (5349)

11:15 Still too early to short
11:00 10ema (5339) > 20ema(5320)

10:45 Stop raised to 5333
10:30 High 5353
10:15  10ema (5325) > 20ema(5309)
10:00 Long 5333 Stop 5320 Target 5370

09:45 Need to break 10ema to Short this market
09:30 Revised GDP (-0.2%) Disappointing Market
09:15 139pt  since Monday with no major retrace !!!
09:00 Looking for pullback into GDP report.

08:45 High 5335. 
08:30 BB 5239-5333
08:15 Watching for resistance at 5320-5330
08:00 Open 5294

.FTSE index is seen opening 15-18 points higher on Tuesday, building on the previous session's gains and mirroring strength overnight on Wall Street and in Asia, as investors await the final reading for Q3 GDP.

Strong day on Monday with a 96pt gain. Pivot Point @ 5237 favours LONG positions with upside target at 5361. Long position entries on retracement of move on Monday are 5292, 5282, 5258 and 5244. Target 5455 by Wednesday 6th Jan 2010. Recent High (5396) on Monday 16th November was 25 days ago. Retest of High expected by Tuesday 29th December.

45 days - Wed 20th Jan 2010
60 days - Wed 10th Feb 2010
90 days - Wed 17th March 2010