FTSE and all Stocks - Don't BUY!!!! - They will plummet
Updated
Hello all
DuncanForex here with a trade idea - with no advertising about anything so the post will stay active.
With the power move during February 2020 (The AB Move) and then a slower retrace to the previous area of support which is now resistance.
The FTSE broke out of its downward consolidation long and is now progressing higher over the past few months to the 61.8 Fib retrace.
Don't be fooled by this Bullish move that occurred this week, the price is right in the middle of the 61.8% and 78.6% zone, it will consolidate again and i still think based on my analysis, the CD move will be completed and the FTSE will ultimately go down to 3500 area.
Price is about to touch dynamic resistance shown by the blue diagonal line which shows the long term uptrend broken at the start of the year, price is now pulling back up to this zone to then head down again.
I had shorted the market as per my related ideas below, and i now have new entrys that you can see in the picture. (if you zoom in)
I do expect a bit of sideways movement, also some stop hunting, however my analysis for me suggests all stocks are going to plummet very soon. and this is my view for the next few years.
Stay safe and safe trading
Duncan
DuncanForex here with a trade idea - with no advertising about anything so the post will stay active.
With the power move during February 2020 (The AB Move) and then a slower retrace to the previous area of support which is now resistance.
The FTSE broke out of its downward consolidation long and is now progressing higher over the past few months to the 61.8 Fib retrace.
Don't be fooled by this Bullish move that occurred this week, the price is right in the middle of the 61.8% and 78.6% zone, it will consolidate again and i still think based on my analysis, the CD move will be completed and the FTSE will ultimately go down to 3500 area.
Price is about to touch dynamic resistance shown by the blue diagonal line which shows the long term uptrend broken at the start of the year, price is now pulling back up to this zone to then head down again.
I had shorted the market as per my related ideas below, and i now have new entrys that you can see in the picture. (if you zoom in)
I do expect a bit of sideways movement, also some stop hunting, however my analysis for me suggests all stocks are going to plummet very soon. and this is my view for the next few years.
Stay safe and safe trading
Duncan
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