28/11/2014: Daily Trading Idea: Selling FTSE 100

Trade:                   SELLING the FTSE 100

Entry:                    @ 6710

Target:                  6600 (support within the uptrend)

Stop:                     6755 (a move above yesterday’s resistance high at 6750)

Reason: A rally has run out of steam near term and a series of momentum sell signals suggest correction

 

Trading Update on previous trades:

I am currently running my EUR/USD short trade (26/11/2014). The trade is moving nicely since being filled at $1.2530 late Wednesday afternoon. I am subsequently currently 95 pips in profit. My target remains a test of the $1.2357 low (80 pips away). Move stop to entry at $1.2530.

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