In this Daily Trade Watch report, we look for high probability trade setups that we can trade throughout the day. Today, we have identified one main high quality trading opportunity as FTSE weakness remains.
US and European Open
The reason for this weakness is due to the fact that we saw a Bank holiday in Japan, US and Canada. As a result, we initially saw some explosive directional moves in the European Open session followed by some strong pull backs in the US Open session, so the potential for some choppy market conditions prevailed.
FTSE
So, the one market we would like to take a strong look at for the day ahead is the FTSE market. Having seen the market respect the 7560 resistance level, preventing prices from pushing higher, we now find price much lower at the 7214 structural failure level to the downside. So, if we see a break below this level, we would expect prices to continue lower. This would represent a good opportunity for a sell trade.
FTSE Weakness Remains – Full Video Analysis
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