My FTSE 100 Short Trade has made good progress downward.
The price action appears to be forming a bear flag pattern. There will always be retraces in any trend on whatever time frame....It's all part of trade monitoring and management.
I've moved my stop to a guaranteed profit position just above the round number of 5550 and my profit target down to just above the 5300 level....yes....all the way down there! My target price comes from the channel which the price has formed..but has yet to break....If the price action at the channel level appears to be resisting too much, I will close the trade at the bottom of the channel instead.
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