KVE

FTSE: Daily study, another round of ranging...?

FX:UK100   FTSE 100 Index
34 0 4
The bullish breakout which occurred in April quickly ran out of steam and FTSE             dropped back into the zone where PA ranged for about 2 months earlier this year...

In the course of this PA we possibly formed a left shoulder and head of a possible H&S pattern...
Oversold stochastics suggests we could be forming the right shoulder soon...

Since the Brexit referendum is getting close (23rd June) I suspect that we will not get a big move before that time, therefor I wouldn't be surprised if it went back to ranging inside this 'neutral' zone. RSI and MACD are also close to flat at the moment...

This could provide for excellent R/R setups so I will be trying to catch some of these moves on smaller TF's when they occur!

Neutral bias, favouring upside to the top of the former range..., possible good short opportunity there, switching to hourly TF's...
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out