The FTSE Peak Pattern Has Completed

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The FTSE peak pattern has completed

The resistance I mentioned in my last post didn't quite hold, but the FTSE only broke through by 80 points, so my bet was not stopped out. I closed it this morning though, for a 70 point profit, after yesterday's close just over the 20 day moving average which completed the three dip oscillation about the 20dma starting my peak pattern. This makes a compound profit of 400% for the month. It is not possible to predict how large the final peak will be, but, as it turns out, this time was a one day job as the index has closed below the 20dma again today. So closing my bet now would have made me significantly more profit, but would have been a risk. One day final peaks usually indicate a significant drop, though we may see a short-term bounce back to just below the 20dma first.