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Looking at the markets 15 minutes before the 8am open I decided I was going to be a buyer even though price (FTSE 100) was not far from 5600.0 as one could expect some resistance around this price.

 I usually trade from the 3 minute chart unless I see a very strong possibility of a trade at the open.

This morning I saw a strong possibility. I set my target for 20 points with my stop loss at 11 points. Price did what I thought and hoped it would hence the 20 point limit order, I’m happy with a daily 10 points and I would have manually closed this trade for a 10 point profit. I moved my stop loss up to lock in 5 points. I then locked in 10 good points and about a minute later my limit order was hit for a profit of 20 points. Price did start to fall a minute after I was closed and started a big move down eventually falling just over 80 points.

Jeff

TTT Support Team

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