FTSE pivot trading
Yesterday, I showed how the FTSE fell when it reached the pivot level and dropped like a stone. Today, the market started below the pivot and as it was heading back towards it (that’s the blue line in the chart below) at 7.45am UK time and then retraced, I saw that as an opportunity to enter short… so I did. The market did go as low as 6022 from my entry price at 6041 before shooting up… up to the pivot and then some more to take me out for -20! Oh well, I guess it can’t always work!
