It’s been a difficult year for the FTSE 100 but if you’ve followed us with our live trades on Twitter you will have made 927 points profit over the first nine months. This is a 12.5% return using the December 31 2022 position as a reference point – so certainly better than “staying in cash” and much better than staying invested in the FTSE 100 Index which has fallen by 7.5% since close of play on December 31 2021.
Navigating the FTSE 100 over the next 6 months will be extremely difficult and those who follow us on Twitter know that the low risk short we were looking for here failed to materialise.
Looking forwards we have identified several opportunities but we are in a period of high risk/ chop as indicated by the “dotted grey rectangle”.
The first opportunity is a potential long in the next couple of weeks at around 6700. We have not placed an order on this position as it seems too risky at the moment – the stop loss we need will be far too high for the return.
The second opportunity we see is also a long. This could occur at any time between late October and late November on our “thin orange line” between 6170 and 6250. Yes, this is a huge time range and we hope to narrow this down in the coming weeks so keep an eye out for our posts on Twitter.
Looking towards the end of 2022 we see a low risk/ high reward long and would be targeting a move to sub 6000 on the FTSE 100 by April 2022. This would officially move the FTSE 100 into a bear market so, whilst you see a big green circle on the “bottom right” right of our chart, this may not be a good time to buy – just take a look at a FTSE 100 weekly chart to see just how ugly the FTSE 100 could get in 2023 – we see a potential of 3906 on the 18th September 2023 coming into play if our “thick orange line” at the bottom of the chart is broken.
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