fxtrader66

FTSE100 Weekly Triangle

FX:UK100   FTSE 100 Index
286 1 1
The UK100             / FTSE             has been in a consolidation range that formed a huge symmetrical triangle. Noted on chart are bull and bear targets. However, the trend is up, so my bias for the FTSE             is the bull market will continue and make new highs in 2014.

Trade set ups for longs, buy on a pullback to bottom of triangle trendline - pullback to 6574 on signs of support - break of upper triangle trendline and buy the back test. #use stops

#not looking to get short, but if I did, would sell the break of December lows on the back test of broken trendline .
Price is looking like its breaking out with todays price action
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