Technicals:
As anticipated in my previous post, the retest of the S+D Zone around our 20 year channel has been completed (with a little help from the D50EMA) and we are now trading back above all major moving averages. My Short bias is back up to 7400 and likely onwards from there in the medium term. There is still a significant possibility of a retest of the 4H50EMA at 7285 and I suspect we will see that tomorrow morning on the open.
Fundamentals:
The elephant in the room is of course the spreading COVID wave across Europe at present (Have distanced myself from the DAX). The big wigs have been quick to distance the UK from potential ramifications at present and the statistics are still 'favourable' in my opinion. I suspect we may see more of a shift of liquidity from mainland Europe and into the US markets (US500 isn't done yet!) and I feel the FTSE will see some of this also.
Yellow line is my current average which I will likely scale to track the 4h50ema following a retest.
Trade Safe!
As anticipated in my previous post, the retest of the S+D Zone around our 20 year channel has been completed (with a little help from the D50EMA) and we are now trading back above all major moving averages. My Short bias is back up to 7400 and likely onwards from there in the medium term. There is still a significant possibility of a retest of the 4H50EMA at 7285 and I suspect we will see that tomorrow morning on the open.
Fundamentals:
The elephant in the room is of course the spreading COVID wave across Europe at present (Have distanced myself from the DAX). The big wigs have been quick to distance the UK from potential ramifications at present and the statistics are still 'favourable' in my opinion. I suspect we may see more of a shift of liquidity from mainland Europe and into the US markets (US500 isn't done yet!) and I feel the FTSE will see some of this also.
Yellow line is my current average which I will likely scale to track the 4h50ema following a retest.
Trade Safe!
