Got off to a good start by shorting the FTSE. Made three other trades with two of them going wrong. Account slightly down for the day.
Outlook for Tuesday, 11th Sep 2007 Redrawing the channel lines suggests FTSE should rise initially. In fact, early this morning Finspreads were already quoting Cash FTSE up by 50 points or so (6173-79) from yesterday's close of 6134. Begs the question - why not take a trade towards EOD when price hits one of the channel extremes? Since we have the strongest evidence that FTSE will most certainly rise, my play this morning is going to be - long on a decent pullback, while looking for evidence of a channel forming on the 5-min chart.
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