we are still trading within the inside bar on FTSE 100 from the 26th Nov
we are printing lower highs but no lower lows as of yet with 5200 being the support level in the interim, hence the reason why i am long from 5210, 5200 ..i will look to another long @ 5290= 5300 average entry .....and have stop stop loss 5170 !!
target 5280-5310
If we take the body of the candle sticks then we have a downward sloping wedge formation, in technical analysis there is a 80-90% probability of market breaking out to the upside as buyers are building a base....in this case its at 5200.
> 5200 we go to 5360 and above to 5500
< 5200 then we have a meltdown to 5000
I would not discount the wicks unless that trading occurred outside of real trading hours, then its significance can be downplayed.
I think yesterday was a breakdown by any reckoning but the sp500 matters more then us and Im told that did not lose vital support
The bottom wick for 3rd and 5th Nov or bottom price occurred in trading hours
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I think yesterday was a breakdown by any reckoning but the sp500 matters more then us and Im told that did not lose vital support
The bottom wick for 3rd and 5th Nov or bottom price occurred in trading hours