FTSE

Ftse is testing the important level again. 6614.
This needs to finish above this level to test the highs again.



dl.dropboxusercontent.com/u/4899609/ftse20thdec.png


Hourly chart
You can see on the hourly chart its broken the trend line and back tested it.(as jackozy mentioned)
Now we need it to push through

dl.dropboxusercontent.com/u/4899609/ftse20thdec1.png

Good call jackozy.
Worked out nicely so far....come on Santa better late than never.
I think everyone was waiting for that fed decision . It amazes me how one country has so much influnance on the rest of the world.
Ftse is a lame duck...does not lead any thing...lol

FTSE downtrend resistance was at 6594 today and futures have just hit that level. It'll be a few pips lower tomorrow so watch for a breakout to go long (beware possible backtest of the trendline which would come at a lower price then the breakout level).

Sorry no chart - will try to get one up in the morning.

Possible long on this at 6472 today:



dl.dropboxusercontent.com/u/20815047/FTS...TSEdaily03_12_13.png

That chart was from last night's close. FTSE is currently at 6490 as I type. Bear in mind that there's no nearby support to place stops under (apart from the trendline of course) so this trade may fail. I've put a tight 15 pip stop on my order.

If this breaks above 6712 then this may move up pretty quickly.
Im planning on going long at 6713 with a 25 point stop.
You could see clearly how this area is holding the ftse back.


This is a chart of the hourly.


dl.dropboxusercontent.com/u/4899609/ftse25thnov.png

But for the correction to be over this has to finish above 6733..This should signal higher prices and may signal the Christmas rally for the ftse

ftse been a bit erratic right ?

maybe still correcting and nearing completion maybe....

dl.dropboxusercontent.com/u/40497882/Ftse_1hour_Nov22.JPG




count im going with in chart on last ftse post

regards WS