Before the markets open I do some research and today we had this warning, “Like on Thur, [EUROPEAN STOCKS] are seen opening pretty flat with very modest deviation from last night’s finishing bells, but losses on Wall St may see bears try and claim the moral high ground first thing”.
If you are confused over Bears and Bulls (like I am) then remember Bulls, contains a “U” for Up! So Bull markets go up and Bears go down.
So, a sharp downward movement on open was expected. This did happen, and like a good little boy I waited for both signals before entering the trade. However, I entered at the current price and not 5 points away. The trend was short-lived though, but I did get to the point of locking in a profit before the trend reversed.
The trend reversed and the second signal arrived just in time for me to open a trade. The market price was just above the 5-point away target so I opened an immediate trade, which easily went on to make the target.
So with the good trade and the profit from the first trade, today I made £11.
Bank now £192.70.