Hello all
DuncanForex here with a trade idea - with no advertising about anything so the post will stay active.
With the power move during February 2020 (The AB Move) and then a slower retrace to the previous area of support which is now resistance.
The FTSE broke out of its downward consolidation long and is now progressing higher over the past few weeks to the 61.8 Fib retrace.
Don't be fooled by this Bullish move, once it reaches 6600 area, it will consolidate again and i still think based on my analysis, the CD move will be completed and the FTSE will ultimately go to 3500 area.
You can see where i will be looking to short the market in the picture.
I do expect a bit of sideways movement, also some stop hunting, however my analysis for me suggests all stocks are going to plummet very soon.
Stay safe and safe trading
Duncan
DuncanForex here with a trade idea - with no advertising about anything so the post will stay active.
With the power move during February 2020 (The AB Move) and then a slower retrace to the previous area of support which is now resistance.
The FTSE broke out of its downward consolidation long and is now progressing higher over the past few weeks to the 61.8 Fib retrace.
Don't be fooled by this Bullish move, once it reaches 6600 area, it will consolidate again and i still think based on my analysis, the CD move will be completed and the FTSE will ultimately go to 3500 area.
You can see where i will be looking to short the market in the picture.
I do expect a bit of sideways movement, also some stop hunting, however my analysis for me suggests all stocks are going to plummet very soon.
Stay safe and safe trading
Duncan
Comment:
Trade active:
- Hold On
Trade active:
- next week - due to Brexit and Covid - it will plummet - there may be a stop hunt - but it will drop
Trade active:
With Tier 4 announced today, brace yourself for Monday morning
Trade active:
4th Entry - break of trend line
Trade active:
5th Entry - below today's daily candle (still active)
