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Regular Contributor
Posts: 181
Registered: ‎04-08-2015

FTSE chart not looking good.  A break below 6250 could see a big drop.  This is the 4 hourly chart.  If Wall Street closes down tonight I would be watching this to move down tomorrow.  Bearish on this one at the moment.

 

Occasional Contributor
Posts: 48
Registered: ‎04-08-2015

Nice one. We broke 6250 today and, like you, I see a large downside move after a pullback from current levels (6182) to around 6370's. I'm waiting to see if that analysis proves correct before taking the plunge

Regular Contributor
Posts: 181
Registered: ‎04-08-2015

@Welshman What is really frustrating is that I could see it happening but didnt put the trade on.  Actually ended up having to close a few trades today that went against me.  

Regular Contributor
Posts: 181
Registered: ‎04-08-2015

Things not looking good for the FTSE. If 6030 goes I would expect a drop back below 6000.

 

Occasional Contributor
Posts: 48
Registered: ‎04-08-2015

Hi Firing squad,

well..... I'm still watching and waitingSmiley Happy currently looking at 6282 level (61.8% retrace) if we breach that I anticipate drop to below 6000. Patiently waiting for entry.......

 

what do you think?

Occasional Contributor
Posts: 48
Registered: ‎04-08-2015

Hi Firing squad,

well..... I'm still watching and waitingSmiley Happy currently looking at 6282 level (61.8% retrace) if we breach that I anticipate drop to below 6000. Patiently waiting for entry.......

 

what do you think?

Regular Contributor
Posts: 181
Registered: ‎04-08-2015

I think the rally of the last 2 days will be short lived.  Still bearish on the FTSE.

 

One to watch for now ....

Valued Contributor
Posts: 985
Registered: ‎10-03-2016

Trying to put in a big opening 1 hour bull bar after pulling back from the high yesterday afternoon. Large opening bars can be indicative of the morning session and may see a test of the high. The prospect of tomorrows NFP may weigh come the afternoon session.

 

Capture.PNG

 

 

*** Intraday Price Action Scalping on FX Majors ***
Highlighted
Valued Contributor
Posts: 985
Registered: ‎10-03-2016

FTSE trying for another big 1 hour opening bar off support at 7500.

 

0706.PNG

*** Intraday Price Action Scalping on FX Majors ***
Valued Contributor
Posts: 985
Registered: ‎10-03-2016

BBC Business reporting FTSE opening slide but beware, fast approaching long term support at range bottom.

 

FTSE100(£)H42306.png

 

 

*** Intraday Price Action Scalping on FX Majors ***