I've mainly been trading forex but am looking to get into some spread bets on the FTSE 100.
I looked at the current ATR, seem to be about 100.
Is a suitable strategy just trading S&R points and candles maybe with a 20:20 SL:TP point and let half of the trade run beyond that or come back to hit break even?
eg attached 4hr, a good place to sell (down trendline, hit resistance)?
However, daily chart looks like a bullish reversal.
I'd prefer a short from the top resistance line.
I looked at the current ATR, seem to be about 100.
Is a suitable strategy just trading S&R points and candles maybe with a 20:20 SL:TP point and let half of the trade run beyond that or come back to hit break even?
eg attached 4hr, a good place to sell (down trendline, hit resistance)?
However, daily chart looks like a bullish reversal.
I'd prefer a short from the top resistance line.
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