Ok the reason why i entered the short FTSE was because of the contracting triangle which has got messy as we gone through the day
But the reasons why i stay in this trade is because
1) We are moving up in a corrective wave pattern, this is not impulsive at all
2) We are still within the 4hr channel
3) There is a possible head and shoulders formation building on 1hr
4) There is also a bearish diamond formation on 4hr as per chart. This might require me to move my stop higher if the formation is to be perfect but then it would break the 4hr channel. Will leave things as they are for now
5) Euro/usd and Gold seem to have done 3 waves down. Further weakness would drag down the indices more.
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