FTSE could explode higher!
So for those following my Tweets, you will have noted that we went Long FTSE after it had found support in the Daily charts. It is now reaching close to it’s all time high again and judging from the performance of the US markets I really think it’s going to pop upwards and start shooting upwards. If you look at the Weekly chart of the FTSE (below – click for larger image to see the pinbar) you can see that we have an extremely bullish pinbar.. it was all buying. We do have to be wary that we have a massive resistance overhead and if we don’t see the FTSE breaking through this level this week then we are due a retrace until the next time. In addition, the Monthly chart is looking extremely bullish also: The arrow shows that we again have another bullish pinbar! So I’m holding onto my trade.. it’s up a few points at the mo but if it fails to move higher this week, no problem… but it seems like a good opportunity! Note, I’ve now published my trading book called Trading Systems for Everyone, available on Amazon. If you’re interested, you can read about it here: http://www.makemesomemoney.co.uk/my-new-trading-systems-book-available-on-amazon/