FTSE100 -UKX - What can we expect to happen?
I am strictly basing this analysis I share with you today on technicals only with additional aspects of trading psychology.
Technical Aspects:
We have a wedge formation, a break to either direction is key.
We also have the Fibonacci Retracement to keep in mind.
Support and resistance areas combined with key trend-line areas.
Who's in control?
The bulls at this moment of time.
What could we be expecting?
BELOW that key trend-line up in red - Bears get in control, targeting the next support area 0.618 area
ABOVE wedge area, the trend-line down is key area we need to focus on that's the next resistance area if we break either bullish momentum will continue and target areas next resistance areas. 161.8 areas.
I've suffered for years actually over coming this ego I had towards the market. To create consistency and to be able to produce the analysis I prepare for you today there is years of unsuccessful and hard work and I thank for those days today. I appreciate everything I've learnt about myself to get to where I am, the bad days lead to good days. However, what I learnt over the years is:
1. Trading is just probabilities, you're creating your probabilities higher through the analysis you prepare.
2. Patience is key, the trade wont go your way within minutes, the market doesn't care about you and you are NOT there to fight it because you'll get into bad behaviour of trades e.g. Chasing.
3. There is no one set way of trading, create your own plan - Create a plan that really suits you, trading is like having your own business. You are your own boss. Make the most of it!
4. Book won't teach you how to trade - real life practical works get yourself a mentor - get educated by the best with years experience. I use the analogy of learning how to drive a car personally I love cars, Ferrari 458 of my favourites - However, doing the theory test is key gives you great knowledge but the practical reality of driving you need practice, you have the rules and most importantly the edge on how you maybe able to shift gears for whatever you're faced with in-front of you. That's like trading.
Remember: Just a trade idea, not a recommendation.
Have a great week ahead.
I am strictly basing this analysis I share with you today on technicals only with additional aspects of trading psychology.
Technical Aspects:
We have a wedge formation, a break to either direction is key.
We also have the Fibonacci Retracement to keep in mind.
Support and resistance areas combined with key trend-line areas.
Who's in control?
The bulls at this moment of time.
What could we be expecting?
BELOW that key trend-line up in red - Bears get in control, targeting the next support area 0.618 area
ABOVE wedge area, the trend-line down is key area we need to focus on that's the next resistance area if we break either bullish momentum will continue and target areas next resistance areas. 161.8 areas.
I've suffered for years actually over coming this ego I had towards the market. To create consistency and to be able to produce the analysis I prepare for you today there is years of unsuccessful and hard work and I thank for those days today. I appreciate everything I've learnt about myself to get to where I am, the bad days lead to good days. However, what I learnt over the years is:
1. Trading is just probabilities, you're creating your probabilities higher through the analysis you prepare.
2. Patience is key, the trade wont go your way within minutes, the market doesn't care about you and you are NOT there to fight it because you'll get into bad behaviour of trades e.g. Chasing.
3. There is no one set way of trading, create your own plan - Create a plan that really suits you, trading is like having your own business. You are your own boss. Make the most of it!
4. Book won't teach you how to trade - real life practical works get yourself a mentor - get educated by the best with years experience. I use the analogy of learning how to drive a car personally I love cars, Ferrari 458 of my favourites - However, doing the theory test is key gives you great knowledge but the practical reality of driving you need practice, you have the rules and most importantly the edge on how you maybe able to shift gears for whatever you're faced with in-front of you. That's like trading.
Remember: Just a trade idea, not a recommendation.
Have a great week ahead.