FTSE posts a grave warning
On Tuesday the FTSE Futures (June '16) got up to 6,315 on an early spike, then spent the rest of the day giving it all back. We closed back where we opened, some 50 ticks off the morning high.
Management and risk description
Once we're 50 ticks on side move the stop to entry. Cover/cut losses on a close back above 6250. We need it to be a closing break.
Entry: sell a break below 6,236 (June '15 Futures).
Stop: 50 ticks initially.
Targets: 6,180 then 6,120, maybe even 60,30.
Time horizon: one to two weeks.
Daily candlestick showing the gravestone Doji: