Magnetic FTSE Trading Week Summary

Magnetic FTSE Trading Week Summary

Mark Austin Trading

UK's Premier Online FTSE Subscription

 

Dear traders

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

 

MAGNETIC Report - Friday 22, August 2014

Good morning

The FTSE struggled to break above its previous swing high yesterday at 6782 after the DOW rallied. This indicates a correction down to 6690 is still looming. Either the FTSE will see a final push to 6800 before declining or we will see profit takers come in today.

Swing trade - If we see 5 min bar acceptance below 6770 look to sell the FTSE and target 6702. Stop 5 min bar acceptance above 6830.

If we fail to see 5 min bar acceptance below 6770 then look to sell the FTSE from 6800 -6820. Same target and same stop

MEDIUM TERM FORECAST - A MOVE TO 6690

[Signup For Mark's Full Trading Plan]

MAGNETIC Report - Thursday 21, August 2014

Good morning

We took 50% profits yesterday at 6747 for our swing trade. For an update on this trade please watch the video below:

http://screencast.com/t/JojJKG5l9eS

I may well update with an additional trade once I have seen the open.

MEDIUM TERM FORECAST - A MOVE TO 6690 AND THEN A RALLY TO 6850

[Signup For Mark's Full Trading Plan]

MAGNETIC Report - Wednesday 20, August 2014

Good morning

5 UP days in the row for the FTSE and a close on the highs indicates even if the market is to move up higher in the short term the market makers are likely to push this down lower in the short term to attract fresh buyers.

Its unlikely the FTSE will see 5 minute bar acceptance above 6830 before we trade back down to 6747 as a first target and then 6690 as a second target. After that I will be on the look out for a decent buy for us but I am not interested in buying at these levels.

Video analysis - http://screencast.com/t/NdZOQjDKZ

TRADES

Any open above 6779 is a sell this morning. Target 6772 for 50% and leave the rest for 6747. Stop is 17 pips marked against the 8am price what ever that may be.

SWING TRADE - Sell the market if we see a 5 min bar close below 6767 followed by a break of that bar. Target 6747 for 50% and leave the rest for 6690. Stop is 5 min bar acceptance above 6830

A MOVE TO 6660 AND THEN A RALLY TO 6850

MAGNETIC Report - Tuesday 19, August 2014

Good morning

FTSE analysis below

http://screencast.com/t/YjTJbEw2ElI

In summary I am expecting the first leg up from this rally to end in the region 6770-6800 if 6645 is not hit prior to this. If we see 5 min bar acceptance above 6770 after the open then we will be positioning long after a pull back towards 6660.

Traders can look to sell the FTSE between 6770 - 6800 after the open if 6645 is not hit first. Stop is 5 min bar acceptance above 6820. Take 75% at 6647 and leave the rest for 6660.

Finally we have a 10 point dividend today so I will update later on how we are to trade this towards 4.30pm uk time.

[Signup For Mark's Full Trading Plan]

MEDIUM TERM FORECAST - NEUTRAL

MAGNETIC Report - Monday 18, August 2014

Good morning

FTSE analysis video below:

http://screencast.com/t/DfeqWCYiBNqt

TRADES - 5 MIN BAR ACCEPTANCE ABOVE 6715 IS BULLISH AND WE CAN GET LONG TO TARGET 6760. STOP 5 MIN BAR ACCEPTANCE BELOW 6715

5 MIN BAR ACCEPTANCE BELOW 6715 IS BEARISH AND WE CAN GET SHORT FOR 6665. STOP 5 MIN BAR ACCEPTANCE ABOVE 6715

BOTH 2% RISK

MEDIUM TERM FORECAST - NEUTRAL HOWEVER A BREAK BELOW 6663 COULD WELL INDICATE A MOVE TO 6400. I WILL UPDATE IF SEEN

[Signup For Mark's Full Trading Plan]

Try it out for just £48.50

HERE FOR THE FTSE ANNUAL REVIEW AND RESULTS

All the best,

Mark Austin