There were several scenarios playing out in my head today and all the more confusing as it was triple witching day – I guess the big question came down to if we were we going to hold onto our gains from yesterday or sell off? As it turned out the market did both, it consolidated for much of the day and then sold off as the US markets opened.

I had already managed to close out this mornings trade for over 10 points. There were two more trades to report for the day, the first being an interchanging support and resistance play at 6080 which was closed out for a couple of points. In hindsight I should have held the trade longer as per my original plan, and ideally closed it at the 6066 level.

The second trade was a long taken at the 6066 level which was stopped out for 20 points. The FTSE had just bounced off a double bottom formation and the MACD histogram had crossed the zero line. I placed the trade as price came back to the 20EMA expecting the market to push back up to the 6090 level, instead it headed back down the other way rather quickly.