FTSE Long bottom of the rangeI'm thinking about entering a long position.
For a few reasons:
- Trading range and low in it so limited downside for bears
- Big sell climax bar, so bad short below.
- Strong buying pressure to the left, so likely buyers below protecting my stop
Downsides:
- Follow-through bar next week could run stop in one go - sad face - I'm thinking entering half a position and then adding more above bull bars - expecting Wed / Thursday big bull bar as bears give up.
Management
- Half R position initially
- Add on below a weak sell signal
- Full position on before leaving the bottom third of the trading range
- Go for 2:1, exit on a big bull bar higher up
Hold for dear life :)
Let me know what you think.
Jump on board or fade me!
