[Christian Harris]

Here’s a FTSE 100 day trade I just closed.

My analysis in a nutshell:

• The FTSE 100 is in a downtrend (higher timeframe analysis).
• The Bank of England (BoE) announced at 12:00 yesterday that it’s keeping interest rates at 5.25%.
• The FTSE 100 rallied for the remainder of the day, as a higher interest usually is bullish.
• I decided to trade a pullback today because the FTSE 100 is in a downtrend overall.
• At around 8:00 today, I entered a short position, targeting the 0.618 Fibonacci retracement level
• My take profit hit in around 2 hours.

 

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[PipPredator240]

Thanks for sharing again.

Can I ask do you always use TradingView for your day trades?

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[Christian Harris]

TradingView is my go-to charting platform for analysis, but I don’t trade directly from it.

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[PipPredator240]

is that because it simply has the best tooling set?

Can I ask which platform you use to actually trade?

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[Christian Harris]

I use TradingView for charting because it is super easy to use, is fast on both desktop and mobile, and has a vast collection of built-in and community indicators.

The fact that it’s a third-party app also helps to avoid random fake candles that sometimes appear on broker charts.

However, I place trades using cTrader because it links nicely to my broker and has many excellent features including an economic calendar.

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