Hello all
DuncanForex here with a trade idea - with no advertising about anything so the post will stay active.
With the power move down during February 2020 (The AB Move) and then a slower retrace to the previous area of support which is now resistance.
Two things will happen.
A) Price will retrace further to 7000 - everyone will think everything is ok, and buy stocks, and then it will plummet to around 3600
B) Or if 5800 is broken this week, then the FTSE is going to hit circa 3200
Both creating ultimately a CD move.
My view is that we need better divergence and there will be another leg higher first
However, don'f be fooled.
This isn't financial advice, however don't buy stocks, wait at least another 6 to 12 months and buy them when the FTSE is circa 3500
Stay safe and safe trading
Duncan
DuncanForex here with a trade idea - with no advertising about anything so the post will stay active.
With the power move down during February 2020 (The AB Move) and then a slower retrace to the previous area of support which is now resistance.
Two things will happen.
A) Price will retrace further to 7000 - everyone will think everything is ok, and buy stocks, and then it will plummet to around 3600
B) Or if 5800 is broken this week, then the FTSE is going to hit circa 3200
Both creating ultimately a CD move.
My view is that we need better divergence and there will be another leg higher first
However, don'f be fooled.
This isn't financial advice, however don't buy stocks, wait at least another 6 to 12 months and buy them when the FTSE is circa 3500
Stay safe and safe trading
Duncan
