Tuesday 29th December 2015 – Morning

Tuesday 29th December 2015 – Morning

Normal trading resumed after the Christmas holiday period and I expected the market to push up this morning given the overnight strength. We had a quick dip to support at the open before the FTSE shot up towards the 6300 level.

However, I ended up shorting the market following the MACD divergence as shown in the chart, and closed out for a couple of points as the market reversed off support following the hammer bar formation. The other two trades were textbook trades off key support and resistance levels.

H019. FTSE TUE 29122015 AM