ANALYSIS – Below 6570 the FTSE starts the week negative and at risk of moving lower. We need to get above 6585 to revert to bearish mode and we have a nice clear run to 6700. That’s on the technical side. WE SAW A MOVE ABOVE 6585 YESTERDAY SO IF WE GET 5 MIN BAR ACCEPTANCE ABOVE 6600 TODAY WE HAVE A BUY SIGNAL. LIKEWISE A BREAK BELOW 6530 AT THIS STAGE WOULD BE BEARISH
LOOK TO GET LONG (BUY) IF WE GET 5 MIN BAR ACCEPTANCE ABOVE 6600. TARGET 6700. STOP 5 MIN BAR ACCEPTANCE BELOW 6570. MUST TRIGGER BY 2 PM UK TIME.
IF WE GET 1 MIN BAR ACCEPTANCE BELOW 6545 IN THE FIRST HOUR OF TRADE LOOK TO GET SHORT (SELL) AND TARGET 6480. STOP ABOVE 6600.
SHORT TERM DIRECTION -POSITIVE ABOVE 6600
LONG TERM DIRECTION POSITIVE ABOVE 6400
5 MIN BAR – no trade
SPIKES IN FIRST 5 MINS AFTER OPEN – no trade
CLOSING GAP – no trade
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