We’ve made some changes to our FTSE 100 low risk entry points today. We still believe we have the underlying direction(s) correct but our timing is a little off – in fact the timing of all the major markets is shifting a little and this often happens either when trends change or when a correction is being made.
You can see that the FTSE made an important downwards move at opening today – right on an “unconfirmed” trend line. If it fails to breach this trend line this will add confidence to our forecast – and the trend line will become “confirmed” thus adding weight to it later in the year (either as resistance or support)
We’ve made the decision to remove our future short entry point from this chart as our modelling shows the FTSE is attempting to building support – so a long is a lower risk.
Entering new positions at the moment is far too risky with the FTSE 100 having the ability to swing either 400 points up or 400 points down from the current level by the end of the year.
As usual – be patient – a low risk opportunity will arrive.
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