Saxo Group Videos

Joe Neighbour is expecting a "deeper correction" in equity markets today and he's looking to trade moves on the FTSE 100.

Joe makes the following points:

-The heavy selling in the last few sessions has been fierce

- My view is that this may not be finished just yet

- Yesterday was a key session as we broke below key support at around 6700 and the 200 day moving average

- Notable increase in volume yesterday supports the bearish view

- Therefore my trade for today is to sell into strength towards the new resistance at 6700 in anticipation of a deeper correction

- I think we could possibly see downside towards the next support level at around 6550

- Placing a stop loss 50-70 ticks above to allow for some volatility

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