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
When I met Mark I was enormously impressed with his FTSE trading abilities, so much so that I decided to recommend him to my clients. John Piper
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Thursday, September 9, 2010
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
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
Wednesday, September 8, 2010
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
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
Tuesday, September 7, 2010
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
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
Monday, September 6, 2010
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
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
Friday, September 3, 2010
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
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
Thursday, September 2, 2010
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
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
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