FTSE 100 Daily Chart. Dec 20, 2018
https://uk.tradingview.com/chart/U03iSVfb/
The FTSE 100 Daily Chart for Dec 20, 2018 has revealed a falling wedge pattern formation. It is usually a sign that we are getting to the bottom of market price action. It is classically a reversal pattern. But there are no guarantees. An upside breakout is most likely (75% chance). A downside breakout is less likely (25% chance) but it can happen.
My advice is to wait for a decisive break out before taking or modifying action. I am currently short. The symmetrical triangle that was formed on December 05, 2018 broke down and forced me into a short position. With an upside breakout, I will close my short position and go long. With a downside break out, I will continue my short position.
The FTSE 100 Daily Chart for Dec 20, 2018 has revealed a falling wedge pattern formation. It is usually a sign that we are getting to the bottom of market price action. It is classically a reversal pattern. But there are no guarantees. An upside breakout is most likely (75% chance). A downside breakout is less likely (25% chance) but it can happen.
My advice is to wait for a decisive break out before taking or modifying action. I am currently short. The symmetrical triangle that was formed on December 05, 2018 broke down and forced me into a short position. With an upside breakout, I will close my short position and go long. With a downside break out, I will continue my short position.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.