The move up from the low 4790 on Thursday 1st July hit resistance at 4968 at 15:15 yesterday (6th July). Asia triggered a BUY on 6th July and my LONG was triggerd at 4858. The pullback to 4893 has broken the 50ema (4897) which is a warning, but not a signal to close the Long from yesterday. The 71pt pullback works out as 40% retracement. The Stop has been raised to break even. If the FTSE breaks below 4880 (50% retarce), then I will consider closing the Long and go Short.
I use the 10ema, 20ema and 50ema on 30min crossovers on the charts to indicate a BUY or SELL signal. 30min charts allow me to hold a trade for anything up to 15 trading days. Position is only closed when the 10ema decisively breaks through the 50ema
| Date | Trade | Price | Stop | Target | Profit |
| 06Jul | BUY | 4858 | 4858 | 5140 | £0 |
| 22Jun | SELL | 5270 | 4858 | 4500 | £4120 |
| 10Jun | BUY | 5063 | 5270 | 5400 | £2070 |
No comments:
Post a Comment