A blow-by-blow account of my latest FTSE trade

John C Burford continues his live trade in the FTSE 100.

Last time, I left my short FTSE trade open overnight (on Tuesday 12 April) as I expected more work on the downside, but with an intervening rally. Overnight, there was an attempt to rally from very oversold momentum readings.

But the rally was encountering resistance as marked by the light red bar on my chart below. Here's how the trade continued, blow-by-blow, from yesterday morning right up to this morning:

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John is is a British-born lapsed PhD physicist, who previously worked for Nasa on the Mars exploration team. He is a former commodity trading advisor with the US Commodities Futures Trading Commission, and worked in a boutique futures house in California in the 1980s.

 

He was a partner in one of the first futures newsletter advisory services, based in Washington DC, specialising in pork bellies and currencies. John is primarily a chart-reading trader, having cut his trading teeth in the days before PCs.

 

As well as his work in the financial world, he has launched, run and sold several 'real' businesses producing 'real' products.