I took a quick scalp trade on the DOW.. I don't tend to like to trade the DOW due to it's volatility but I saw a quick opportunity. The black lines represent resistance lines. The large black slanting line shows the price action breaking out of the downtrend pattern and the horizontal black line, the immediate resistance. As it broke I put on a quick long and rode it up 30 points to take a profit... phew!
I had my day off today so I thought I would look at the charts for some trades early in the day before I went to the new Westfield shopping centre which has opened up in London. The FTSE100 obeyed some nice technical signals I was able to capitalise... not to it's full potential but still, it's nice when you get a perfect technical day. The first thing was the previou low of around 4200 at 8.30am when the market tested the level and bounced to 4240.. it then started to fall and for an inst
It seems like I did the right thing when I close my trade previously.. the market has dropped like a stone.. it's a shame I didn't enter the short as it would have been a nice trade!
