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.

ftse 100

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I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

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  • Olivier – khabarovsk

    I do hope this breakout trade will work. But what about the historical monthly resistance, back to January 2000, at 6948 points? Has been taken into consideration or not?

    • Chris Capre

      Being a member, best if you ask this question in the forum so I can share methods/approaches from the course there.

      On a side note though, best to leave ‘hope’ out of it, and understand you are playing probabilities and managing risk.

      Kind Regards,
      Chris Capre