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FTSE 100


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In reply to: early birds on Tuesday 19/12/06 09:20pm

Yes!But why go in boots and all!

Best results come when we wait for some sort of intraday trading range developing,

My post is just a possible set up that I'm trying to put together,I just thought I would post that idea.might be way off the mark.




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Looks like market has lived up to expectations. It didn't push through resistance last night and as we expected it came back to 6200. Where will it go from here is the big question? Will it bounce back up and try and push through resistance or will the market bounce around the 6200 for a couple of days?
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In reply to: happy2 on Monday 18/12/06 11:18pm

On Monday we made the following assessment

The FTSE appears to have hit a resistance level. It will need to push through otherwise it will probably drop back to 6200 or lower to find support for another attempt to push through.



The FTSE has kindly obliged and done as expected. McLaren says that if it moves down more than four days, then it will continue down. As the chart below shows, the market has moved down three days to the levels we estimated if it didn't push through resistance.


Tonight should tell us which direction the market is going to go.


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Only had the one trade early on this. Took 14pts.


The second trade was beckoning but didn't get to take it. There were two entry points.


When I got back I just missed on entering a second trade going long at 6184. Wasn't prepared to hop on board until market confirmed stronger move.


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