Magnetic FTSE Trading Week Summary

Magnetic FTSE Trading Week Summary

Mark Austin Trading

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Dear traders

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

HERE FOR THE FTSE ANNUAL REVIEW AND RESULTS

 

MAGNETIC Report - Friday 18, July 2014

MORNING ANALYSIS
http://screencast.com/t/YsZlUo6qacaF

SELL 6727-6738 . STOP 5 MIN BAR ACCEPTANCE ABOVE 6738. TARGET 6690 FOR 80% AND THE REST FOR 6600 - 2% RISK

MEDIUM TERM FORECAST - NEUTRAL

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MAGNETIC Report - Thursday 17, July 2014

Good morning

Analysis video below - from my trading room

http://screencast.com/t/7Loeu66m

Today's trades are as follows:

SELL BETWEEN 6780 - 6800. STOP 5 MIN BAR ACCEPTANCE ABOVE 6800. TARGET 75% AT 6763 AND THE REST FOR 6700 - 2% RISK

IF WE SEE 5 MIN BAR ACCEPTANCE BELOW 6760 WE CAN LOOK TO GET SHORT AND TARGET 6700 - STOP 5 MIN BAR ACCEPTANCE ABOVE 6800. 1% RISK

ANOTHER POTENTIAL TRADE IS A 5 MIN BAR BREAK DOWN IF WE SEE A FALSE BREAK OF THE BAR TO THE UPSIDE FIRST. I WOULD UPDATE YOU IF THIS IS VALID

MEDIUM TERM FORECAST - A MOVE TO 6700 WHILST WE AVOID 5 MIN BAR ACCEPTANCE ABOVE 6800

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MAGNETIC Report - Wednesday 16, July 2014

Good morning

The FTSE closed below the key break out level at 6734 from Monday so I have a short term sell bias today.

If we do see a pull back over the next few days we could have a very good long trade about to set up....

Trades today are as follows:

SELL A SPIKE UP TOWARDS 6736-6740 - TARGET 6712 FOR 50% AND THE REST FOR 6695. STOP 5 MIN BAR ACCEPTANCE ABOVE 6740. 2% RISK

IF WE SEE A 5 MIN BAR CLOSE BELOW 6720 AFTER THE OPEN GET SHORT AND TARGET 6695. STOP 5 MIN BAR ACCEPTANCE ABOVE 6736. 2% RISK

UNOFFICIALLY TRADE CAN SELL THE OPEN TO TARGET 6711 - STOP ABOVE 6740

MEDIUM TERM FORECAST - A MOVE TO 6680 OR LOWER WHILST WE AVOID 5 MIN BAR ACCEPTANCE ABOVE 6736

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MAGNETIC Report - Monday 14, July 2014

Good morning

We are seeing strong prices this morning in the futures market. Has the correction finished? Well if the FTSE opens above 6700 this and then see 5 min bar acceptance above 6736 then this would confirm selling is over and a strong rally could be coming into play. Likewise a rejection of 6700 just after the open and a drop below 6672 would be indicative that we still have a final move to 6600 on the cards.

Today's trades are as follows:

If the first 5 min bar high is above 6700 we can look to get long on a break above the high. Target 50% for bar length and the rest for 6730.

If we hit 6735 in the first hour we can get short for 8 pips. Stop 10 pips above entry. No valid after the first hour. 2% risk

Non official trade - look to buy 6697 for 15 pips. Stop 10 pips below - 1%

MEDIUM TERM FORECAST - NEUTRAL

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All the best,

Mark Austin