Trading Breakouts and Bear Markets…a break even day

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The FTSE today with a Fib tool to highlight the measured move

Every day I review my trades, here’s my daily view of the market.

What I haven’t been doing is reviewing them on Medium.

Maybe this is a way of giving you guidance and knowledge to help you understand the process.

You can see the thinking that goes into my trades, why I placed them and why I took profit where I did.

Please use the chart above for guidance and don’t hesitate to ask me any questions.

I’ll be happy to answer all your queries and I’ll try to publish my charts and trades on here every day.

Like I said I would WELCOME feedback.

I didn’t trade the DAX today, only the FTSE.

I began by buying the open, why? Because this is something I have been doing religiously for the past two years.

This indices is very generous of the open.

BUT…Not today.

Today I was immediately under water, but bar 1 (see chart above), gave me hope.

It retraced above the low of the overnight range, which suggested to me that this market was going up — it was basically clearing out all the stops and a low of the day could have already been made.