Whilst waiting for previously discussed swing trade entries (aside from NZD:CHF where I entered the proposed swing long), here's a snap shot of whats going on with Indices.
FTSE 4 Hourly.
No obvious direction but I'd probably want to wait for the outcome of this descending triangle before taking any position. A descending triangle is usually bearish and a breakdown would offer a technical measured move target of 6135
A quick mention before I talk about this FTSE chart in case you missed it in the comments section, the USD:CHF swing long is now 90% closed. I've not marked it on the trades log yet simply because I opted to run the last 10% of the trade just to see where it takes me.
With DOW making all time new highs today, I thought I'd take a look at FTSE.
Hope your Week is going better than mine! Though my Swing Trades are all looking good and even the DOW swing short is still showing good profits despite this Week's 500 point rise, the 2 day trades I entered today left a lot to be desired!
So I've had a scan through my watchlist and the following charts define those I consider most likely
Selling on Indices is pretty much established now so unless you are already in swing shorts, entering positions now based solely on the targets detailed in this post is probably not worth the risk for the small potential reward.
However, if you are already positioned here are some levels that will
Here's a few charts from the current Watch list.
Most of these correlate with one another so if S/R works on one of them, it should work on all of them simultaneously. But there's always a spanner in the works somewhere..... FTSE has broken it's support:
Having taken a closer look at most of the Swing Trade candidates for next Week I've concluded that most FX pairs I'm watching need at least another session to determine their viability. By the same token so do Indices and although we are seeing strong bearish signs we've yet to see a confirmed lower high.
Flicking through a number of blogs it's quite clear that
I'm currently Flat Indices having held long positions throughout much of today but with little going on in the way of new swing set ups I thought it worth sharing a couple of DOW and FTSE charts to give an idea of the type of things I watch intraday ahead of entering Day Trades.
Because this Blog is predominantly a way to
Not much going on today and not much to post about so here's a quick post showing a day trade I've taken on FTSE.
The chart explains it all really. No idea if the trade will fail or not as different time frames are so