Coincacha I agree the entry was backwards (neither break below or freehand leading to my entry). Good pick up btw, didn’t expect to be quizzed on it
And thank you for pointing that out to everyone
Don’t throw bad fruit at me!
Fundamentally, I guess you would say I trade in zones (like an extension of fibs). Saturday morning FTSE hit a potential reversal zone (which I didn’t take - as no other index is close to that level). This mornings open placed FTSE below its support (in my strategy, e.g. dropped a level lower (not trying to sound like TheFadz here but it’s the best way to describe it)) so when it rallied higher it came very very close to that resistance level and turned away, I was interested (thanks alerts). I didn’t take the short at a better price point due to being focused on US Oil at that point in time. I know we have all been there (I find it very hard monitoring multiple markets, especially at a time like this).
As the US Oil long failed at my zone of interest I turned to Europe, and found FTSE the best risk reward (as DAX was like 3%+ down vs just over 1% for FTSE And the fact FTSE is near its highs vs everyone else). I’m still confused why FTSE has remained so strong through this period. But in short, I start my day with a bias, today was bearish, but this may change tonight who knows…
So given the above information, and one of my confirmation indicators turning short on FTSE, I took the position. But to be clear I didn’t expect the 200+ pt move in 11 minutes from when I took it. I understand in pre market (ig’s version of it anyway) moves like that are rare. So when I saw that profit it I took it.
I hope that helps Coincacha, I know it’s very vague in description, but for more detail I’ll need to write 1000x more!
I might need to look into these FTSE power moves of yours. You might be onto a winner there!
And regarding pricing, it really annoyed me seeing that Ig changed the print (thank you bensh10 for pointing it out). I don’t know how we can take profit at levels that the chart doesn’t show, very very wrong in my opinion. We as traders need to see the print the way it was, not what the provider sees fit.
(20min delay)