Magnetic FTSE Trading Week Summary

Dear traders

Please find below a summary of this weeks trading for your perusal-

MAGNETIC Report - Friday 06, June 2014

Its NFP day. If the news if taken positive we could get a rally to 6860. If negative expect 6792 to break and a large sell off to come in.

Trades today are:

Sell towards 6855-6860 if the GAP at 6813 is not filled prior to this. Stop is 5 min bar acceptance above 6870...

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MAGNETIC Report - Thursday 05, June 2014

Lots of key news today so the FTSE could well consolidate between 6800 and 6840 before this out.

Most of the news is likely to be priced in so we could see any rallies sold off over the next few days. I don't expect much upside above 6870 before we see 6760.

Today's trade ideas are as follows:

Sell a spike up to the 6840/6845 region for 10 pips if seen this morning (i.e before the news). Stop 15 pips above.

If we see 5 min bar acceptance below 6800 get short...

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MAGNETIC Report - Wednesday 04, June 2014

The FTSE closed right on that key level yesterday at 6836 however if you take the 5.5 dividend off we actually closed below. Whilst we trade below 6840/6845 this morning we could see a sell off towards 6810. If we see 6800 then this is worth a buy first time round for 10 pips. Stop 15 pips below entry...

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MAGNETIC Report - Tuesday 03, June 2014

If the FTSE opens below 6850 today this is a negative and a subsequent break below 6830 would confirm more selling towards 6750.

An open above 6850 and we should see gap close at 6864.

We avoided 5 min bar acceptance above 6870 yesterday. Only 5 min bar acceptance back above this level will confirm further buying in this market into the 6900 range.

I will see the open and update if there is a trade worth going for...

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MAGNETIC Report - Monday 02, June 2014

Its the first of the month so we could see a short buy in this morning.

Traders can look to go long above 6870 for 10 -15 pips just after the open. The stop would be a 5 min bar close below 6870. Don't buy below 6870 as 6870 is key resistance. Half stakes

Like wise if the FTSE fails to hold above 6870 after the open this is a negative today...

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All the best,

Mark