FTSE 4 Hourly MA Resistance – Follow Up.

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08 Sep FTSE 4 Hourly MA Resistance – Follow Up.

Posted at 17:34h in FTSE by
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Updating previous FTSE analysis posted HERE on 5th September,  the set-up I’ve been waiting for could be near completion.

I’m day trading FTSE as I type this (Futures), but quite happy to consider holding onto any shorts on a confirmed rejection of price by this 4 hourly 200MA:

 

Any signs of support from here and I’ll scrap the idea. SPX and DJI (DOW/INDU) are also showing identical set-ups and I may switch trades to one of these 2 Indices as spreads are lower during the UK evening session.

NOTE: Bernanke / Obama speaking tonight could be a market mover

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4 Comments
  • Index Trader
    Posted at 18:58h, 08 September

    Update:

    Bernanke speech resulted in a nice fast move to the downside.

    Therefore, closed FTSE short at intraday support at 5295 (entry was 5335) and will revisit this trade during the cash session tomorrow.

    Also trailing a DOW short from 11,410, half position closed at 11,324 (thought it would act as support when it printed), remaining half to run with stoploss in the 11,430 region.

    • Yaahoon
      Posted at 21:42h, 10 September

      I have taken a short position on DOW from 11210 and looking to close at 7000. Stop/Loss 1000 points.

  • jon827
    Posted at 08:24h, 09 September

    Your site is really impressive RS, I’ll defo be following you here. Some brilliant trades so far too.

  • Pingback:Trading Round-Up – Blog Trades To Date « Index Swing Trading & Technical Analysis
    Posted at 00:26h, 15 September

    […] Indices did take a quick trip down following the previously discussed 4 hourly 200MA resistance,  have been great for scalping but went on to find support so I closed […]