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Trading Signals for FTSE100
The FTSE100 is currently showing signs of heading towards the resistance line of a Rising Wedge pattern. This could potentially happen within the next 8 hours. The market has previously tested this resistance line multiple times, leading to a potential rebound rather than a breakout.
Trading Strategy and Technical Indicators:
- The trading strategy for this signal involves monitoring the price action around the resistance line of the Rising Wedge pattern.
- Technical indicators such as the Relative Strength Index (RSI) and Moving Averages can be used to confirm the strength of the potential breakout or rebound.
- Traders can also look for additional confirmation from volume indicators to gauge the market sentiment.
Correlated Assets:
The FTSE100 can be correlated with other indices such as the S&P 500, DAX, and Nikkei 225. Traders can also look at commodities like gold and oil for potential correlations with the FTSE100 movement.
Economic Calendar Events:
Traders should pay attention to economic calendar events such as GDP releases, interest rate decisions, and employment reports that can impact the movement of the FTSE100. These events can provide additional insights into the potential direction of the market.
By incorporating these technical indicators, analyzing correlated assets, and staying informed about economic calendar events, traders can make more informed decisions when trading the FTSE100.
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