FX:ESP35   IBEX 35 index of Spanish listed shares
I try my best to avoid trading this instrument because I am not too sound on the fundamental areas of this market however I take some technical appealing trades sometimes.

I am looking to go long on a bullish candle close at the third touch of the trend line especially at the 50% retracement . It is a relatively small trade. As usual, I'm looking for a favorable risk/reward ratio here.

My targets are the last swing point at 11242 and the top range at 112923

IF

it breaks the trend line and makes a solid close below, I will short this market for a target of 11143 where the 618 retracement is positioned however I doubt this will occur as it is currently sitting on the 50% retracement and is likely to move higher.

As it is the weekend, I am not looking to take this position until monday morning because of holding charges and anything can really move this product as I am not fundamentally sound on it. Until then traders, keep your guard up, aim and shoot when it closes
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