Looking at the Macro analysis in my last published idea, have been waiting for. good entry on the FTSE for the past couple of weeks. See above my idea.
Good R:R for this trade. I suspect we are currently experiencing wave c2 - I will be looking to catch the trip to the downside for wave 3/4/5 for a test of the lower bound of the diagonal.
Considering chart pattern, we have broken a bull pennant to the downside and this wave 2, in my mind, is the rested before markdown.
My stop loss has been placed at the point where my opinion is proved wrong and a recount will be required. Once my order is filled and price moves in my favour, I will move in my stop loss to increase R:R - then just let it play out.
Although I do see the FTSE being bearish over the coming months, that will change if I am stopped out the upside here.
For more in depth analysis - join me here - t.me/colgalcapital or on twitter @Colgal92
Good R:R for this trade. I suspect we are currently experiencing wave c2 - I will be looking to catch the trip to the downside for wave 3/4/5 for a test of the lower bound of the diagonal.
Considering chart pattern, we have broken a bull pennant to the downside and this wave 2, in my mind, is the rested before markdown.
My stop loss has been placed at the point where my opinion is proved wrong and a recount will be required. Once my order is filled and price moves in my favour, I will move in my stop loss to increase R:R - then just let it play out.
Although I do see the FTSE being bearish over the coming months, that will change if I am stopped out the upside here.
For more in depth analysis - join me here - t.me/colgalcapital or on twitter @Colgal92