FTSE 100 – Forming Price Action Squeeze | Feb 19
Happy Chinese New Year (Year of the Sheep)
FTSE 100 – Breakout Structure Still Forming (4hr chart)
After a few attacks on the key resistance around 6900, the FTSE 100 has consolidated near the highs, forming a price action squeeze. Unless we get some impulsive selling from here and a break below 6815, the breakout structure remains.
Watch for a breakout pullback setup above the key resistance. The first upside target would be 7K. Only a daily close below 6725 negates the MT bull trend.
Also in our members commentary today, we discuss the AUDUSD, EURUSD, USDCAD & EURGBP. Click here to become a member.
Read my latest article Meditation for Trading – My 15 Years of Practice
Want More? My private members get all my trade ideas & market commentary 4x per week. Click here to become a member.