UK 100 IndexShort
Ftse 100 7th Aug
The FTSE opened with a gap to the upside this morning. Gap's most often do one of 2 things. Firstly we can get a gap and go which is indicative of an aggressively confident sentiment, of we gat a gap and fade which closes the gap leaving the question of direction somewhat in the balance.
This morning's Gap and Go made buying into the market a tricky prospect as it surged to the upside with few opportunities to safely enter.
This is a 15 minute chart which no where near shows us the whole picture. The longer term time frames are still slightly weighted to the downside and I suspect today's high if seen again this week, will be the last time we see it for a little while.
Tomorrow I will be looking for the 7700 level to provide a short term up side opportunity which will eventually turn into a chance to sell and hold for a few days and into next week
This morning's Gap and Go made buying into the market a tricky prospect as it surged to the upside with few opportunities to safely enter.
This is a 15 minute chart which no where near shows us the whole picture. The longer term time frames are still slightly weighted to the downside and I suspect today's high if seen again this week, will be the last time we see it for a little while.
Tomorrow I will be looking for the 7700 level to provide a short term up side opportunity which will eventually turn into a chance to sell and hold for a few days and into next week
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