downtrend day 29th Aug

TVC:UKX   UK 100 Index
I shall be trying not to buy today. Although the RSI is screaming at me. I'm going to try holding my short all day. Sometimes when there's a big negative news event there's an oversell and you can expect a strong positive revaluation at london open but the korea and Harvey news is just trickling out.

5min bar breakdown was risky because we were coming up against 7300 which we have since gone 2 points beyond but hasn't broken properly (I'm reading the way of the turtle at the moment which is all about breakouts and is more analytically useful than most trading books since they tend to be more about psychology). 1h bar breakdown is active but the target is rather large.


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