FTSE 100 - MT Corrective Structure Fails, ST Bearish Bias

MT CS Failed ST Bearish FTSE100 2ndSkiesForex

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FTSE100 – Failed MT CS, ST Bearish Bias (4h chart)
The MT corrective structure in which the FTSE100 had been confined within for almost 7 weeks, broke down last week. Price closed below 7400 and made a new lower low, changing our ST bias to bearish.

ST traders can look for possible quick short-term trade opportunities on weak pullbacks towards 7400.

LT, we are still in a heavily bullish PA environment so our LT bias is unchanged bullish.

This means it will take a lot more bearish price action to counter the bullish momentum we have witnessed since the start of …

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