FTSE meeting strong resistance at 5990 level and coming off ahead of the MPC meeting. Despite meeting horizontal resistance at the 5990 level, the FTSE100 is still making higher lows, suggesting there is further upside potential (ascending triangle formation.  When the market tumbles like this,  rather than tighten your stops (a bad strategy, either sell them or leave the stops where they are which should be based on sensible technical levels), hedge yourself by shorting the major index, thus protecting your net position.

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Posted in Educational by Greg No Comments Yet