Tuesday, June 19, 2012

New FTSE Short Trade

The market gapped up again this morning and I've just gone short the FTSE100 cfd.

It's a very short time frame setup and my stop and targets are as shown.  MY stop is just above the 1.272 Fibonacci extension on the previous swing and targets are at R:RR of 1:1 and 2:1 respectively.

Note the bearish divergence between price and indicators as highlighted by my orange lines.

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