Monday, November 12, 2007

Long FTSE

Did I tell you that I hate the FTSE...no...well I do

Long 6344

Globetrader_58

Not such a bad setup...just that brown range line might have alerted me, that it might not be a clear day for sailing to the north

Well it wasn't. The 20 tick stop was 6334 and the low of the following downswing was 4335.50. All the while the rest of the european markets, especially the DAX showed upticks. Selling into strength. They love to do that on the FTSE. Exit 6349 on the following upswing. I had that feeling that we might see ticks beyond 6350, but trading 1 contract, having been down 17 ticks already and my phone ringing, I was glad I resisted the urge to take the Breakeven exit and moved the exit to +10 ticks instead.

Globetrader_60

Follow up...No reentry, as I was 15minutes on the phone. 15 minutes, where the FTSE was building a nice base and started a new trend. But look at that bar at 6342, markedt HL. Real buggers... again trying for the downside first before volume comes in and trades the market to the upside

Globetrader_61

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