A long-term trading opportunity to sell in E100. Wait to Hunt!!Technical analysis:
FTSE is in a downtrend, and the continuation of downtrend is expected.
The price is below the 21-Day WEMA which acts as a dynamic resistance.
The RSI is at 45.
Trading suggestion:
The price is still in a downtrend and we forecast the downtrend would continue.
There is possibility of temporary retracement to suggested resistance zone (2900 to 2933), if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (2900)
Ending of entry zone (2933)
Entry signal:
Signal to enter the market occurs when the price comes to "Sell zone" then forms one of the reversal patterns, whether "Shooting star" or "Peak" , in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons:
(We have started to prepare these lessons in TradingView. If you want us to continue, give us feedbacks!)
Take Profits:
TP1= @ 2851
TP2= @ 2806
TP3= @ 2764
TP4= @ 2717
TP5= Free
