ID/NR4 on FTI Daily

FTI Big Picture

FTI is now in a trading range.

1. FTI has been rising until the triple top chart formation.
2. Price just bounced off a key support level.
3. Price made strong moves up and down which indicates a ranging market.

FTI Small Picture

The more recent price action is bullish.

1. Price rose above the moving average smoothly.
2. The two bearish bars showed bottom tails which implied buying pressure as they tested the earlier gap.
3. 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.