Selling Opportunity in FTSE 100 - Sold @ 7875.88 Thu, Feb 00:39am. Stopped Out 7938.05 Thu, Feb 9, 17:07pm -$248.80.
FTSE surged to an all-time high at 7932.88 in London session today, surpassing the previous all-time high of 7903.60 (red horizontal line) which was registered in May of 2020.
However, selling interests started emerging almost immediately and while the original idea was to wait until the end of the day to initiate a short but the speed at which the selloff is unfolding during the NY session suggests that there is wholesale unloading of long positions. This prompted my action to sell at market and not wait for the closing.
Sold @ 7875.88 Thu, Feb 00:39am.
Stop @ 7938.00.