Ted Baker?

EVERY night I scour the FTSE350 Index for possible trades, once found I shove them into a prospect list on my charting software to review.

Sometimes the prospects are ripe and ready to place orders for the next mornings open – other such as this are what I calling “getting into position” this means their not quite fully formed as a trade but getting close.

There’s no guarantee these comply and often you just have to ditch the chart as the market failed to form as required – REMEMBER WE ONLY TAKE TRADES THAT ARE ULTRA HIGH PROBABILITIES.

Details on chart – I will update the chart going forward in later posts so that you can follow it’s progress or failure whichever it may happen to be.

The outlook is BULLISH purely down to the WEEKLY DTosc position as it is – that does not mean we trade now!

PS – This is purely for educational value, I have absolutely NO intention of trading this market – I just want to show you that if you find a pattern that repeats often in the markets then you can trade them should you wish – just like this one.

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Should this example/paper trade trigger to the long side as expected I will put the targets onto the chart and a potential way to manage the trade.

But first you HAVE to read the commentary on the chart below for an alternative view – one of them will work out which one?

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EDIT – I am aware that the EW count is on the WEEKLY chart and I’m talking about a trade on the DAILY chart – It is perfectly possible for this to happen – I will explain in full detail in a month or so

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