FTSE 5526 - 8th Jan

FTSE pivot point is 5526 favouring Short positions currently.
Target move up to 5555 followed by 5577. Market opened up 0.4% at 5547.

Watching to see if Market can break 20ema(5522) and hit resistance at 5529.
Will enter a long on retrace back at 20ema, when 5ema > 10ema has confirmed.

15:00
1.5522 > 5ema (5515) >10ema (5515) - PASS
2. Macd (-3.8) and looking to form Bull cross at (-3.8). - PASS
3. Stoc (81) > 50 -PASS
High 5529, low 5494 BB 5503-5539

Resistance line at 5528 with a support line coming in at 5513. 
Break below 5524 indicates 5513

12:30
1.5522 > 5ema (5525) >10ema (5527) - FAIL
2. Macd (-1.4) and FALLING. - FAIL
3. Stoc (7) > 50 - FAIL

Support at 5535 is now acting as resistance. 5524 has held twice at 10:15 and 11:08, but broke on 3rd attempt at 12:30. .

10:00
1.5527 > 5ema (5530) >10ema (5530) - FAIL
2. Macd (5.4) and FALLING. BEAR CROSS (6) at 09:15 - FAIL
3. Stoc (16) > 50 - FAIL
High 5548, low 5526 BB 5504-5546 
LONG 5544 CLOSED 5535
REASON TO EXIT
1.Negative indicators and failure to hold 5535.
2.Used 1min chart to see trend was down.

08:30
1.5547 > 5ema (5538) >10ema (5533) - PASS
2. Macd (7.4) and rising. - PASS
3. Stoc (67) > 50 - PASS
High 5548, low 5526 BB 5500-5546 
LONG 5544 TARGET 5574 

S&P500 closed up 0.4% at (1141).
Australia ASX closed up 0.24% (4942) above resistance at 4900.
Japan (10798) up 1% after testing 10700 resistance.
Hang Seng (22296) up 0.12% and below resistance at 23000. .

I use trendlines and moving averages to provide entry and exit criteria.  With daily price movements averaging 75pts a day, my target is to make 30pts = £300.  I close 50% of the position when the target is met and leave the rest to ride until the exit indicators are triggered. I trade only during market hours 08:00-16:30 and close all positions daily. On exceptions in strong up moves when I've made the target, I will leave the order open to the next day