Monday 4th January 2016 – Afternoon

Monday 4th January 2016 – Afternoon

The FTSE continued its decline from this morning’s session and despite a small recovery after lunch it ended up sub-6100 at the close. I managed one more trade this morning which was a counter-trend trade off intraday support (ideally I should have waited for the market to test the 6100 level) and was swayed by a little class-B MACD divergence pattern that was developing at the time. This afternoon I managed to get back in sync with the market and shorted off an intraday resistance level with MACD divergence (in the opposite direction) which worked out.

H022. FTSE MON 04012015 PM