Still keeping a long bias on the markets but looking for a value entry.
May enter the FTSE with minimum stakes then top up on any weakness in the first hour of trading.
1 - Long 6012. Stop 5975. Stake * 0.4. No target yet, will see how the session pans out.
2 - Added another long at 6023. Stop 5975. Stake * 0.4.
FTSE struggling to break 6030. This could be the top, at least unti US open later today.
3 - closed all longs at 6022.3. Not confident there is any more upside this morning. £22 profit.
Afternoon sesssion:
FTSE has not been able to brek 6030 and looks quite weak now. But we recall this was the situation last Friday when it could not conqeur 5975, only for the Dow to take it through in the afternoon.
I'm not clear how this will pan out for now so i am planning to wait for the Dow open at 2.30PM and give it 30 minutes to establish direction.
I am inclined to short from 12610-12620 or long from 12510.
1 - Short Dow, 12581. Stop at 12608. Not sure of target yet. Set stop above high of day so far. Dow has made lower lows and lower highs intraday, this will be ended if 12603 breached. I can see possible downside to 12525 ish.
Minimum stake for Dow. Base stake * 0.33.
2 - Stop now at break even. No risk trade.
3 - closed at 12577 for 4 points, £4 profit, wooo!
4 - long 12543, 0.33 * base stake, could go a bit lower so will phase in longs if it drops, at 12525, 12510. Stop at 12490
5 - stop at break even, limit at 12581
6 - limit hit for 38 points, £38 quid profit.
That's enough today, been a long day and difficult. Profit = £64.
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