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.
At Hantec Markets Ltd we provide an execution only service. Any opinions expressed by analyst Richard Perry should not be construed as investment advice or an investment recommendation. This report does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. Forex and CFDs are leveraged products which can result in losses greater than your initial deposit. Therefore you should only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved, seeking independent advice if necessary prior to entering into such transactions.