The FTSE is now at our time period where we are looking for a long entry on our forecast. Remember we have an upper and lower zone with the lower zone needing a similar fall to that of last weeks to be hit – so it is certainly well within the realm of possibilities.
Risk takers may be thinking about going long at this point with a target of around 7500 but for us the risk/ reward is far to high as the current “downside” is around 250 points and the upside is less than 400 points – i.e. a risk reward ratio of less than 2:1.
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