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