Tuesday 8th December – Morning
The FTSE had sold off steadily overnight at the open I was hoping to get short off any bounce up to any previous levels of support and resistance. However, ended up taking a speculative long as the FTSE came off the lower Bollinger band with the MACD histogram bars rising indicating a change in momentum. Managed to scalp a few points off that trade.
The market has since reversed off the overnight support level at 6218, creating a classic pin-bar on the 5 minute chart, and proceeded to fall through yesterdays lows of 6208, as well as the 6200 level.