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Tuesday, January 5, 2016

FTSE 100 and DAX for European Session



I decided to watch FTSE (top row) along with DAX. First impression was it is a relationship similar to ES and YM.  I watched the first 30 minutes to get my bearings which meant I missed a bpb sell on DAX after 20 mins.



I was confident my LTF charts were fine so I took the next setup shortly after the 1st report. The sell on FTSE was a pbt on 1m. The range chart shows a tst entry indicating a LH was in. The trade experienced no drawdown and pushed to 10pts tgt immediately.  Favorable excursion ended up being 37pts which would have been nice.  I took a conservative tgt  to hit the daily goal considering my lack of familiarity with FTSE.  I did not plan on trading it yet but the setup was clear enough that I took it. In future I will take trades with more size and allow for a runner.



A 2nd report came at 6pm but I quit for the day due to location - not gonna sell at the lows into lunchtime.

Result: 1 trade for +10


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