Mark Austin FTSE Trading Service Summary - 30th Sept 2010

Dear all

 

Today I sold the FTSE Binary tunnel 75/75 at a price of 83.  Half profits were taken at 65 and remaining position was closed out at 20. 

 

Binaries only range between 0 - 100 so I was risking only 17 points for a potential 83 points.

 

The reasons were on the email I posted in conjunction with the SMS (see below in bold)

 

This strategy offers a low risk way to profit on big moves caused by news releases.  Its difficult to get on board a big move once its started but the tunnel trade positions you well before. You don't need the market direction right either!  I will be employing this particular strategy for the NON FARM PAYROLLS next Friday. This is always a market moving item of news.

 

In terms of market analysis we have rallied hard and we may have completed the last leg up I mentioned this morning. I am expecting this to end between 5650-5700.  Tomorrow morning may offer a sell signal and I'll be posting my usual trading update at 7.50am.

 

Mark

 

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Mark Austin FTSE Service Update - 30th Sept 2010

Good morning

The FTSE has closed in a very tight range for the last 3 sessions now and maintains its tight trading range between 5500-5600. Which as mentioned yesterday has been the case since September 13th.

Today is the end of the 3rd quarter so we may see some window dressing on the UK and US markets (http://www.investopedia.com/terms/w/windowdressing.asp).  We also have jobless claims out in the US at 1.30pm (UK time).  These two factors should spark some movement today.

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Mark Austin FTSE Service Update - 29th Aug 2010

Good morning

The FTSE remains unchanged since yesterday's close (5578) so no early morning trade opportunities.

Key support for this rally continues to lie at 5477 and only an end of day close below this level will convince me that the rally has formed a top.  Above this level the market is technically bullish. 

The market has been moving sideways (between 5500 -5600) since September 13th and generally a pause of this nature is bullish and calls for higher prices. However given the low volume,over bought conditions and bearish divergence associatd with this rise, the best strategy is to wait for the last leg up to complete. As bullish sentiment increases amongst retail investors the more likely a flash crash becomes. Hence why I issued a cautious stance on this market last week. 

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Mark Austin FTSE Trading Service Update - 28th Sept 2010

Good morning

After yesterdays quiet session my overall analysis remains the same (as posted yesterday morning).

The FTSE is currently trading at 5565 and we have a layer of support between 5550-5566.  We also still have the unclosed price gap at 5554 which I mentioned yesterday.  These price gaps derived from news releases tend to be closed within a few sessions.

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Mark Austin FTSE Service Update - 27th Sept 2010

Good morning

Overnight action on the FTSE has made a new high at 5642 and most likely collected a few stops in the process.

As we have broken through 5610 I will be monitoring the opening range today and establish whether price above this level is accepted during official FTSE hours (8am -4.30pm).  If accepted we could be on our way up to 5700.

To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com

Mark Austin FTSE Trading Service Summary - 24th Aug 2010

Dear all

Today I went short the FTSE at 5546. Stop 5556. Half profit target 5515.

The stop was move to entry and half profits were taken at 5222. The remainder stopped out at entry. The markets are looking bullish right now. If you want to short from current levels (5600) put your stop in at 5610. As its Friday afternoon and we are well into the American session I will be leaving this alone.

The trade was based on this mornings email:

Trading Opportunities

No signals this morning with the FTSE currently trading at 5522.  The only trade I will be looking at will be if the FTSE attempts to fill last night's closing level at 5547.  As mid resistance lies at 5550 this could be a low risk opportunity with stops at 5557. Target 5500.  I'll send an sms if I deem this appropriate.

The half profit target at 5515 was used from POM. If you look at the graph today you will see this target was hit and then the market reversed. Another powerful illustration of how effective POM is!!.  There is just ONE space left for the POM trading package at this special price so sign up below to avoid disappointment.

http://www.markaustintrading.com/pomseminar.html

Mark Austin FTSE Trading Summary - 24rd Sept 2010

Dear all

  

Yesterday I sold the FTSE at 5586. Stop 5600. Half profit target 5560. The remaining trade was closed out at 5485.

  

The reasons were outlined on this mornings email highlighting the weak price action just above 5600 and the weak volume that has been associated with this rally.  I also had another POM signal to give me my entry point.  

 

My exit was down to the Inverted head and shoulders pattern which recently broke out at 5477. This is acting as strong support for now.

To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com

Mark Austin FTSE Trading Service Update - 23th Sept 2010

Good morning

Yesterdays sharp fall at the open looked promising for bears however the index rebounded and although it closed down for the day it was also over key resistance at 5540. This level was support on the way down (yesterday morning) and once price moves below it turns into resistance. 

Although this is a fools rally backed by low volume, prices can still push higher short term. If we are to move higher the key area lies at 5610.

To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com

Mark Austin FTSE Trading Service Update - 22nd Sept 2010

Good morning

The market remains poised for its next move and at this stage I remain cautious committing to any longer term positions until the market has shown its hand. Catching the highs and lows of markets may sound exiting but it can also be very costly and its better to wait for a firm confirmation.

To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com

Mark Austin FTSE Trading Service Update - 20th Sept 2010

Good morning

Friday was Triple Witching expiry and we may have seen a key reversal.  The decline form the top at 5620 counts as 5 waves down which is bearish. The fact that the market made a higher high and then closed on a lower low (against the previous day) indicates a short term peak.

To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com

Mark Austin FTSE Trading Service Update - 17th Sept 2010

Good morning

Today is triple witching on the FTSE 100. In short this is when options and futures expire.  The event will take place between 10 - 10.30 am.

This week has been unusually quiet for the markets even for an expiry.  Given the fact that the summer vacation period is over and the quarterly expiry is about to finalise I expect volatility to pick up in the next 2 weeks.

Yesterday I mentioned if we held 5331 we would likely rally and take out stops at 5600. This move occurred over night and I will be looking for a short term sell at the open.  Half profit target 5560. I plan to exit trade before 10am when expiry occurs.

To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com

Mark Austin FTSE Trading Service Update - 16th Sept 2010

Good morning

The FTSE has been extremely quiet this week.  Once expiry is concluded (tomorrow between 10-10.30am) we should see some action which I will be looking to profit on.  Full details on that tomorrow morning.

Today, the trading range between 5531 and 5584 is still intact.

To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com

Mark Austin FTSE Trading Service Update - 15th Sept 2010

Good morning

  

The FTSE remains range bound for the moment in the week leading up to expiry (Friday).

  

As stated yesterday, the form of the next correction will determine whether we are set to rise and test the highs at 5800 and even 6000.   City analysts are bullish at present give the technical chart pattern.  I'm not buying this scenario at present given the factors I mentioned yesterday associated with this rise. In summary:

• Low volume
• Bearish divergence
• 5 wave up
• Many gaps left on the way up

To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com

Mark Austin FTSE Trading Service Update - 14th Sept 2010

Good morning

  

Market sentiment remains positive and has pushed the markets to higher highs yesterday.  A couple of things to note.  

• The move up is backed with low volume
• We have bearish divergences indicating the move is not sustainable
• We have 5 waves up (elliott wave theory) which indicates a move down.  The form of this correction will determine whether we will retest 5800 and possibly 6000. The short term trend remains up until we have seen the correction.
• The market has left numerous gaps on the way up. 

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Mark Austin FTSE Trading Service Update - 13th Sept 2010

Dear all

 

The FTSE has opened strong this morning on the back of strong economic data from China which has pushed FTSE futures up in early morning trading.

 

This morning I was looking at selling the FTSE on the back of several system signals looking for a 30-40 decline at the open. I usually look for spread bets for these small moves but trading is all about risk and the binary option (FTSE to finish down at 12pm) priced at 3.8 points was appealing. 

 

To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com

Mark Austin FTSE Trading Service Trade Summary - 9th Sept 2010

Dear all

Today I bought the FTSE at 5411. Target 5470. Stop 5394

A big reason was based on the below factors and strong support at 5400 gave an easy low risk trade entry.  I also had a system signal (finally) which triggered me long.  My system signals have been sparse this week but hopefully they will pick up next week.

Half profits were taken at 5429 which was last night's closing level. If the FTSE was to reverse it would have been at this point.

The 5th wave is in full force and its possible it ended at 5505 however no signal to enter short at this stage.  A straight move to 5540 from here and I would enter short on a first touch basis (during market hours). Its a powerful trend line figure.

Kind regards

Mark

Mark Austin FTSE Trading Service Update - 9th Sept 2010

Good morning

Last nights closing candle on the daily chart of the FTSE resembles a doji.  The candle has no coloured body and reflects a period of uncertainty between the bulls and bears. What is certain is the market is gearing up for a move.

We have more employment data out in the US today which may spark a reaction at 13.30pm

To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com

Mark Austin FTSE Trading Service Update - 8th Sept 2010

 Good morning

There are three main areas that I look too when placing trades.  Price action / Elliott Wave Theory and Systems.

At present the price action is giving off mixed signals.

Bullish influences -

We broke 5400 yesterday but we closed above this level.( current support for this move up)
The MA 10 and 20 have crossed on the daily chart (see attached daily chart)

Bearish influences -

There is a clear bearish divergence on the daily chart.  The MACD does not support the recent moves up. Volume is not behind these moves.

To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com

Mark Austin FTSE Trading Service Update - 7th Sept 2010

Good morning

The large rally on the 1st September changed the short term trend in this market.  As you will see we have five waves up from the lows at 5067 to the highs at 5462. This is impulsive action and signals that the short term trend on the FTSE has turned up. Positional traders should therefore be looking to buy this market.

To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com


 

Mark Austin FTSE Trading Service Update - 6th Sept 2010

Good morning

The FTSE advanced through 5400 on Friday after the non farm payrolls news announcement.  It difficult to find an edge on news releases but the tunnel trade worked well for those who traded it.  For those who didn't you can apply this technique for future payroll news days or when there is expected high market volatility.

Lastly its Labour day in the US today so US markets are closed. Therefore expect the FTSE action to dry out mid morning.

To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com

Mark Austin FTSE Trading Service Update - 3rd Sept 2010

Today is non farm payrolls in the US so expect some action around 1.30pm.

Last night (out of trading hours) we made an attempt on 5400 which was quickly rejected.  This morning if we get a failed retest at this level (a move just below 5400 which is quickly rejected) this could be a sell signal. From here I am looking at a correction to 5280-5300 before heading higher to 5450-60.  However with non farm payrolls you never know quite how the market is going to take the news and if its positive we could just climb to 5450 in one go.  There fore the trading instrument which I always use on this day is the FTSE Tunnel Binary.  You benefit if the market goes up or down. We just need volatility and the volatility should come with the news release.

To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com

Mark Austin FTSE Trading Service Update - 2nd Sept 2010

Good morning

The FTSE made a high yesterday at 5366 and also closed on this high. This is positive and a retest at 5400 is likely. 5400 is major resistance.

Today we have initial job claims at 1.30pm in the US and we also have non farm payrolls tomorrow which will spark a reaction from the market.

To get access to the complete email as well as my trading opportunities you can sign up here www.markaustintrading.com