FTI Big Picture
- FTI has been rising until the triple top chart formation.
- Price just bounced off a key support level.
- Price made strong moves up and down which indicates a ranging market.
FTI Small Picture
- Price rose above the moving average smoothly.
- The two bearish bars showed bottom tails which implied buying pressure as they tested the earlier gap.
- The ID/NR4 bar closed up. If the break-out upwards succeed, it is likely that price will test the earlier down gap. Using the gap as a price objective, this trade offers a healthy reward-to-risk ratio.
Trading Setup Analysis
FTI is now in a trading range and has just bounced up from a key support level.
The bullish inside bar (ID/NR4) offers a low risk entry for a long swing trade.
Click here to learn more about the ID/NR4 trading strategy.