Last month I posted an article in which I called the FTSE 100 rally a bull trap. Here is the article:
I was right to call it a bull trap, the FTSE failed to make a new all-time high above 7599 and today it is breaking down as I expected. I have seen this pattern many times, it’s called an expanded flat in a bear market, the final move up above 7500 is impulsive and occurred on extreme optimism. I don’t know the exact number but after the rally in the first half of October, I imagine 90% of traders were bullish. This is a characteristic of extreme optimism, when too many people get too excited about a move it’s time to anticipate the opposite.
So next time I warn you about a potential trend reversal don’t laugh, even if you are extremely bullish. I am more likely to be right than wrong and my track record speaks for itself.
If you copy all my signals on the FTSE 100 (intraday trades, swing trades and options trades) you will turn £10,000 into £40,000 in the next two and a half years (assuming past performance continues).
The FTSE intraday trades are on the FTSE 100 cash, they are sent by email/SMS
The FTSE swing trades are on the FTSE 100 December, they are posted on Better Trader Premium
The option trades are posted on Better Trader Premium.
You will receive all three types of trades when you subscribe to the FTSE intraday service plus live updates during the day.
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