Trend(Daily/Weekly/Monthly): Up/Up/Up
Depsite the selling in US futures, #FTSE remain resilient. But as the heading says, price is overextended. A pullback before further up is healthy. I will be looking at 6495-6507 and 6583-93 these 2 zones today.
Possible scenarios:
1) Price opens in RTH, rally to 6583-93 and fail, goes down to 6495-507. Watch for reaction.
2) Price opens in RTH, dips to 6537, get supported and rally. 6583-93 can still fail but probably less likely.
Support and resistance levels are indicated on the charts. Watch reaction around the levels and trade accordingly
Depsite the selling in US futures, #FTSE remain resilient. But as the heading says, price is overextended. A pullback before further up is healthy. I will be looking at 6495-6507 and 6583-93 these 2 zones today.
Possible scenarios:
1) Price opens in RTH, rally to 6583-93 and fail, goes down to 6495-507. Watch for reaction.
2) Price opens in RTH, dips to 6537, get supported and rally. 6583-93 can still fail but probably less likely.
Support and resistance levels are indicated on the charts. Watch reaction around the levels and trade accordingly
Join me for free on Patreon (patreon.com/fademeifyoucan) to receive my daily FX and indices trading plan. DM me to join my new group to learn all my trading levels and to trade together.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Join me for free on Patreon (patreon.com/fademeifyoucan) to receive my daily FX and indices trading plan. DM me to join my new group to learn all my trading levels and to trade together.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.