So for those following my Tweets, you will have noted that we went Long FTSE after it had found support in the Daily charts. It is now reaching close to it's all time high again and judging from the performance of the US markets I really think it's going to pop upwards and start shooting upwards. If you look at the Weekly chart of the FTSE (below - click for larger image to see the pinbar) you can see that we have an extremely bullish pinbar.. it was all buying. We do have to be wary that we hav
Posts Tagged spreadbet
Ok I've gone short on the DOW. I'm seeing a dowtrend in the daily charts.. it's a series of lower lows and lower highs. I believe that the market has just completely it's retrace from the downtrend and now going to make it's way down. The blue line shows that there has been a resistance where price was contained, this is around 15080. I'm hoping price will head lower to 14650 or so where my target is.
On the 4th of February we saw our first bullish pinbar and I went long at this point. I knew that there was some resistance at 3220 but the underlying trend looked bullish. The next day the price did go up around 30 points and then again, we got another bullish pin (two pinbars, surely a very positive sign) off the moving average. At this point I was expecting a huge move up but the following day we got a strong sell day. My trade is still in and my stop is at 3115. I really don't know where