GO IN-DEPTH ON FTSE 100.
· Over a few months I compiled a series of articles that explain some of my methods and experiences in how to day trade the FTSE formresume.ga Day trading spread betting, forecast and analysis of FTSE , DAX, SPX and Gold markets, membership, tips, help, strategies and trade formresume.ga://formresume.ga
Now I had my downside target — the lower tramline. Glancing at the chart, I thought that would likely be 5, But in case the support came in just ahead of the tramline, I decided to set 5, as my target, and entered a resting buy order there to cover my trade.
In the meantime, I lowered my protective stop to break-even using my break-even rule. My order was filled around mid-morning for a very quick and clean trade:. I am finding that recently, I am seeing a lot of very reliable tramline set-ups in all timeframes in the large markets that I follow primarily, stock indices, gold, silver, and currencies.
I would encourage any spread betting trader to regularly search the charts for them. If you can draw at least two parallel tramlines using a pivot point from a previous period, as I did here, so much the better, as it adds more confidence to the validity of your line. Incidentally, the shortest timeframe I like to trade with is the minute. This gives me room to think. I know that many day-traders go down to the one-minute and two-minute charts.
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Hit the which was the target on the short.
You won't receive any more email notifications from this author. This is what we want to see after price breaks out of consolidation, a retest of the consolidation zone then a bounce off that zone, then a move in the direction of the main trend.