FTSE 100 swing trade closed

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This topic has 2 replies, 1 voice, and was last updated 1 month ago by Christian Harris.

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June 11, 2024 at 14:25 #180424 Reply
Christian Harris
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I’ve just closed a nice 179-pip short on the FTSE 100.

I felt the market was overpriced based on recently being at an all-time high and I wanted to trade a little piece of the pullback.

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- June 11, 2024 at 17:15 #180480 Reply
  PipPredator240
  A 179 pip gain is neat. How did you determine your entry and exit points for the trade? Did you use any specific technical indicators or was it mainly based on the market’s recent all-time high?
  
  It would be great to hear more about your strategy.
  
  I look forward to your next trade!
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  - June 12, 2024 at 10:28 #180544 Reply
    Christian Harris
    Participant
    I use support, resistance, and Fibonacci retracement for additional confirmation. My charts are pretty clean.
    
    I mark all major S&R price zones on my chart using a DAILY timeframe and then wait for the price to break a zone. My take profit target is the next key price level. I have to be patient, but I have found that the success rate is high.
    
    When swing trading without leverage, I only enter LONG positions because indices typically go up, and I’m patient.
    
    When trading with leverage, I sometimes hedge because swap fees can cost me money, even if I’m right.
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  - June 13, 2024 at 07:16 #180638 Reply
    PipPredator240
    That’s really helpful, thank you for sharing!
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