DollarsNSense

FTSE Looks in dangerous teritory but what's the catalyst?

TVC:UKX   UK 100 Index
Anyone following me will know how much I love to trade the FTSE 100 and just like all experienced trades I have a directional bias. My bias is long, I find trades to the upside much easier to spot and manage. Knowing this about myself helps give me an edge. It doesn't mean I am unable to spot a shorting opportunity however and the FTSE is looking more and more like a chart that is ready to sell. I see the 7630 area as integral to the FTSE's upside potential. I am happy that I took my profit last week and can now wait for the 7630 area to be taken or see if 7577 will give out and leave the Bears in control.

If the Price Action does fail and the Bears step in, I will be looking for that move lower to create new buying opportunities. The big question is always about drivers. What will be the catalyst for a FTSE 100 sell of. More trade wars? North Korea? Russia? Turkey contagion or maybe even Greece with it's hangover from the Financial crisis again falling into problems. Today I wait, but beware down below. It certainly looks like technically, a storm is coming.

Comments

Nice one!
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out