Day Trading DOW and FTSE; Updates on Projected Channels

Day Trading DOW and FTSE; Updates on Projected Channels

A quick update on the projected channels outlined for both FTSE and DOW ahead of today’s session.

Fortunately the FTSE channel did hold overnight and I exited the position today on the cash close at 5560. The updated chart shows that this evening’s Futures have actually broken through the upper channel line and it will be interesting to see whether this is a fake-out or whether it can offer support:

The projected DOW channel also worked a charm offering the best entry shortly before the Cash session:

I have no idea what to expect for tomorrows session. The chart would indicate up a little more but being the last trading day of the year it’s anyone’s guess, and I’m sure “they’ll” want to park the Indices at a key level or a statistically interesting level…..just because they can!

  • Razor Swing Trader
    Posted at 00:14h, 30 December

    Excellent trade in very sloppy trading enviroment. Trading for me in this enviroment has been very challenging. Can’t wait for the NY trading to start in earnst. Happy New Year !!!

  • Pingback:EUR AUD Swing Trade Update and Weekly Trading Review
    Posted at 13:34h, 30 December

    […] Due to the expected low volumes I’ve not entered any new major swing trades this Week or spent much time analysing new ones due to the fake moves common with this low volume end of year Week. As much of the Week was spend Day Trading I hope you liked the trades I’ve detailed over the last few posts. […]