Things are not looking good for the European equity markets.
Should the daily candle close below the current £5769 support, the March lows will be expected. Covid19 cases numbers are rising around Europe as Ireland becomes the first country to impose a national lockdown while Spain becomes the first country to cross 1m cases in Western Europe.
EuroStoxx 50 - >...
FTSE 100 (CFD) - was looking for pull back to 5830 since yesterdays lows, entered short today at close of 1H candle @ 5817, target at recent lows , however I'm expecting that price would move lower next week. To enter this trade at this point I would wait for any pullbacks at 15min chart.
As we all know all the indices are pretty much tracking each other, a sure sign that its wider sentiment driving the markets.
Barring any more manipulation, i.e. trumps oil tweets yesterday the S&P looks ready to drop and has the TA that seems to verify its course.
If it goes the FTSE will follow. But the FTSE has its own TA that looks ominous, add that in with...
Just before I talk about this trade, just a fair warning that the British Elections are this week on Thursday December 12th. So a high risk event, and will be dominated by Brexit promises.
I have spoken about how Central Banks in the Western world are stuck, and they are now attempting to maintain confidence in the system. They want to go back to easing and QE...
SITUATION ON UK 100 IS WE HAVE A POTENTIAL CYPHER PATTERN BUT THE RISK REWARD JUST MAKES THE TRADE NOT WORTH TAKING NO MATTER HOW DELICIOUS THE SET UP LOOKS.
