The FTSE has declined further than I expected and we have a clear triangle now formed on the 1 hour chart with a break out due. The overall index remains bearish until we see prices close above 5970 again.
For triangles I always like to use tunnels for this particular chart pattern but with no major news today and also the size of the 2 previous trading days we may consolidate today.
If we do see the break out I would look to trade a retest of the triangles trend line.
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