FTSE 100 – Textbook Range Structure (4hr chart)
Today on twitter, I gave a small hint at what I was looking to trade today, with my tweet sharing the key support levels I noticed in the FTSE 100 index.
As you can see from the chart below, the second of those levels was hit and the index proceeded to bounce heavily over 60 points higher, forming a pin bar off those range lows.
For now we have a clear range structure in place with the floor around 6982 and the ceiling just around 7115. Look to ‘play the range’ with a bullish bias until its broken on a daily closing basis.
