FTSE100 Bearish Incoming, watch for sell

hello traders:

Lets take a look at UK100 and its current price action development.

From the higher time frames (HTF), we can see that price is currently in the a larger, ascending structure correction, consolidated for quite some times now.

We did see price pushed down during the early march, and now price is back to the top where the previous highs and potential top of the structure and area.

Now on the lower time frame (LTF), we can see more possible bearish development, potential double tops, smaller, ascending channel, correcting the price up to the top.

Either look for price to commit down with a bearish impulse, and look for continuations after to confirm.
Or
a possible short term up move, to the top of structure, and if there is bearish reversal price action, it can also confirmed the downside move.

Thank you

Bình luận: