Posted by: joetradingplace | May 8, 2012

FTSE 08-05

I have been bearish Ftse since last week, it seems price has reached a brick wall now…the major S…either its a pause in price or we might see a complete reversal. At the moment, there is an even fight between sellers and buyers…as long as price stays in the range between the major S and minor R…the fight will be even.

If price breaks above the minor R…i will be a buyer at a pull back. If price breaks the major R, I will continue my bearish sentiment. I dont know how long price will stay in the range and I dont care…I will just wait for the right setups.

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