The FTSE price action provided 5 min bar acceptance above 6706 yesterday which supported the bulls. The market dipped in the afternoon but we did not see 5 min bar acceptance below 6700 [Signup For Mark's Full Trading Plan]
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Tuesday, April 29, 2014
Monday, April 28, 2014
MAGNETIC Trading Report - 28 April 2014
6655 was the key level on Friday for the bulls and you will see this held by a mere 1 pip. Again if we break this level expect to see a move back down to 6627 quickly [Signup For Mark's Full Trading Plan]
Thursday, April 24, 2014
MAGNETIC Trading Report - 24 April 2014
6690 is a key level this morning. Will the bulls finally be able to push the market through here? If they do and we break 6710 then 6800 is the next target [Signup For Mark's Full Trading Plan]
Wednesday, April 23, 2014
MAGNETIC Trading Report - 23 April 2014
The FTSE put in a bullish performance yesterday and rose up towards the 6690 area but failed to put in an end of day close above here. Between 6500 and 6700 the FTSE is in a consolidating sideways pattern.
Tuesday, April 22, 2014
MAGNETIC Trading Report - 22 April 2014
In terms of where this market is going in the short term look out for the MA 200 at 6614. If we did see 5 min bar acceptance below here it would be a sell signal. Whilst above here higher prices at 6680-90 could still be seen but i don't envisage this going higher before we drop back towards 6500 once again [Signup For Mark's Full Trading Plan]
Thursday, April 17, 2014
MAGNETIC Trading Report - 17 April 2014
We have expiry today and its the last trading day before the Easter break. At some stage today I expect some book squaring and a move lower [Signup For Mark's Full Trading Plan]
Wednesday, April 16, 2014
MAGNETIC Trading Report - 16 April 2014
The key level in the FTSE for the bears right now is 6540. If we see 5 min bar acceptance below here then I expect a swift move down to 6450. Whilst we avoid this we are in neutral ground [Signup For Mark's Trading Plan]
Tuesday, April 15, 2014
MAGNETIC Trading Report - 15 April 2014
We had a good trading day yesterday but today is not so clear. The FTSE is still bearish below 6638 however a strong sell signal is not seen until we see 5 min bar acceptance below 6500. I would like to see the FTSE's reaction in the 6600 if seen before updating my forecast [Signup For Mark's Trading Plan]
Friday, April 11, 2014
MAGNETIC Trading Report - 11 April 2014
The FTSE rejected perfectly off 6680 yesterday and we have seen the decline start towards 6500. I expect the over night lows to be retested today at 6565. The Dow may then take the FTSE lower this afternoon [Signup For Mark's Full Trading Plan]
Thursday, April 10, 2014
MAGNETIC Trading Report - 10 April 2014
There is lots of resistance at 6680 so I would expect a small pull back [Signup For Mark's Trading Plan]
Wednesday, April 9, 2014
MAGNETIC Trading Report - 9 April 2014
IF the 12pm binary is at 18 or below to buy before 8am this is also an option today [Signup For Mark's Trading Plan]
Tuesday, April 8, 2014
MAGNETIC Trading Report - 8 April 2014
The FTSE pushed through 6638 yesterday and the index stays bearish below this level. We saw 6600 after hours and this level is likely to be tested again this morning [Signup For Mark's Trading Plan]
Monday, April 7, 2014
MAGNETIC Trading Report - 7 April 2014
Friday's closing gap did not fill which we avoided trading so the real low in the mark on Friday was 6659. If we open below here (6659) we have a bearish signal today [Signup For Mark's Trading Plan]
Friday, April 4, 2014
MAGNETIC Trading Report - 4 April 2014
The FTSE remains bearish below 6680 however we have NFP news today's so the MEDIUM TERM FORECAST will turn back to neutral. I am not sure if the pull back ended at 6638 yesterday [Signup For Mark's Trading Plan]
Thursday, April 3, 2014
MAGNETIC Trading Report - 3 April 2014
I mentioned yesterday that 6680 was a key level of resistance in this market. This has currently capped the over night action. Whilst we avoid an end of day close above here (6680) I am expecting a brief pull back [Signup For Mark's Trading Plan]
Wednesday, April 2, 2014
MAGNETIC Trading Report - 2 April 2014
Major resistance lies at 6680 today and we could see a negative reaction first time round if we trade to this level [Signup For Mark's Trading Plan]
Tuesday, April 1, 2014
MAGNETIC Trading Report - 1 April 2014
A great sell off into the close yesterday for the FTSE which filled the gap eventually at 6615 and then led to further selling into the close. All linked to traders and funds booking profits and squaring off positions for the quarter end. The binary FTSE to finish down trade offered superb Risk/Reward.
Today we have the first trading day of the month and often we see the reverse price action come in [Signup For Mark's Trading Plan]
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