FTSE - Weekly Timeframe Overview - Short Opportunities
Seeing the bigger structure in formation, on the weekly timeframe, the Footsie seems to be wanting to go for a deeper correction. It is still unclear wether the correction will be in the form of a running flat for more upside, as it seems to be at the moment, or a deeper correction. Either way, what matters to us is that the index is ripe for some downside, reason for which from now we will be looking for sell setups only, on this financial instrument.
Watch out for ending diagonal formations and other price action patterns for an entry point on their break. For a more conservative approach, wait for a first impulse to the downside, wait for a small correction of said impulse on the 60min timeframe, and sell the break of said correction with a stop loss above it.
Updates on smaller timeframes will follow.
If you feel that our analyses and views may be a useful complement to your trading strategies and in order to be notified in real time with our updates on the lower timeframes, please remember to click on the Follow button.
Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.
Thank you for viewing.
Watch out for ending diagonal formations and other price action patterns for an entry point on their break. For a more conservative approach, wait for a first impulse to the downside, wait for a small correction of said impulse on the 60min timeframe, and sell the break of said correction with a stop loss above it.
Updates on smaller timeframes will follow.
If you feel that our analyses and views may be a useful complement to your trading strategies and in order to be notified in real time with our updates on the lower timeframes, please remember to click on the Follow button.
Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.
Thank you for viewing.