British American Tobaco - DP trade

[Eddo]

I thought this setup looked promising from my EOD scan on the FTSE in London.

We have a red reversing bar right at the DP, nice looking divergence and a 4.9R potential gain - lets see how it works out

[Eddo]

I thought this setup looked promising from my EOD scan on the FTSE in London.

We have a red reversing bar right at the DP, nice looking divergence and a 4.9R potential gain - lets see how it works out

I'am now in having gone short at 1772

As a point of intererst I had to wait this morning for the market to comeback to my entry price after a very big (down) gap at the open (if it hadn't come back to me I would have passed on the trade because not to have done so would have blown my R:R away).

Anyway I think that this just makes the point of how dangerous it is to place an automatic market order which in this case would have filled me around 1745 which was about 25 points below the price I wanted.