FTSE - Stalled just in front of our entry level. Good enough?

١٨ يوليو ٢٠١٩

DAY TRADE - EXPIRES AT 9PM

We were looking for a dip to buy today but the market appears to have stalled in front of our entry level. Is this good enough reason to get long?

Overall we remain bullish.

Trade Idea
The overnight rally has been sold into and there is scope for further bearish pressure going into this morning.
Bespoke support is located at 7465.
Negative overnight flows lead to an expectation of a weaker open this morning.
As this corrective sequence continues we look to set longs on a dip at better risk/reward levels.
Further upside is expected although we prefer to set longs at our bespoke support levels at 7465, resulting in improved risk/reward.

We look to Buy at 7465
Stop: 7425
Target 1: 7545
Target 2: 7600