We were looking for a dip to buy today but the market appears to have stalled in front of our entry level. Is this good enough reason to get long?
Overall we remain bullish.
Trade Idea The overnight rally has been sold into and there is scope for further bearish pressure going into this morning. Bespoke support is located at 7465. Negative overnight flows lead to an expectation of a weaker open this morning. As this corrective sequence continues we look to set longs on a dip at better risk/reward levels. Further upside is expected although we prefer to set longs at our bespoke support levels at 7465, resulting in improved risk/reward.
We look to Buy at 7465 Stop: 7425 Target 1: 7545 Target 2: 7600
FTSE isn't for everyone. The multi-national make up of the constituents can mean its heavily impacted by GBPUSD. This can sometimes cancel out movements, which explains the lack of swing movement at times.
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fatboy007
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Hi pal, despite the fact that i am in UK , i do not trade ftse100 , not enough swing usually. I LIKE , or ...... DAX DOW N255
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