FTSE (UKX): Its At A VERY Important Point! +320 Points Profit!

If you follow the FTSE at all and you also follow my trades, well, you've been KILLING IT! We just closed our LONG trade on the Footsie and bagged another +320 points to go along with that +635 points whooper of a trade when we caught that collapse back in January. That is a +955 points profit on 2 trades! Yep, we are 100% on our trades in the FTSE so far since we started offering analysis on it. Do the math. Each point is worth £5.

Anyway, I'm not here simply to toot my own horn. Others here do that more than enough! I tell you about what I and my subscribers did simply so you will at least pay attention to what I have to say so that you may have some confidence that I know what I am talking about. Then maybe you might learn a thing or two from my posts. After all, I don't post for my own health!

Ok, so now that we have closed our trade and done everything EXACTLY according to our trading plan (do you have one? You BETTER before you ever take any trade!), we are out and are now waiting on what is to come next. And what is that? A possible BIG reversal back down! Maybe even bigger than what we made on the way up! It is now retesting that broken trend line of the broken trading channel it had previously been in for a some time. This is very typical price action in that prices will usually (but not ALWAYS! Nothing is 100%) retest whatever level, zone, formation, pattern or trend line it broke from. And then IF it gets rejected again (like a jilted lover), it will react violently and usually forcefully in moving away from that rejection point. And usually, that move in the opposite direction is not a simple retracement but rather a complete reversal in direction. That makes for a strong move away.

Yes, it certainly takes some skill, experience and expertise to recognize and differentiate from different types of price action in this setup but when you can recognize it and MORE IMPORTANTLY take advantage of it, you can score your self BIG WINNERS like we do!

So watch the trend line and prices and see what happens BEFORE you leap and take a SELL! You need PATIENCE! I can't emphasize that enough! PATIENCE! Remember also that this has been a strong uptrend and you don't want to go against such a move! Let it prove that it is done first!