UK100 FTSE Technical Analysis & Trade Idea
#UK100 Observations:
- Monthly and weekly charts indicate weakening bullish momentum.
- Significant resistance encountered at a key level suggests a potential reversal.
- 61.8 Fibonacci retracement zone identified as a logical downside target.
Trade Idea:
- Short position on the #FTSE.
- Place stop-loss above recent swing high.
- Primary target: Previous swing low on the daily (1D) chart for a 3:1 risk-to-reward ratio.
- Consider partial profit closure at the 1:1 risk-to-reward level.
Important Disclaimer:
This analysis offers a technical perspective and not direct financial advice. Conduct thorough market research and implement sound risk management strategies before executing trades.
- Monthly and weekly charts indicate weakening bullish momentum.
- Significant resistance encountered at a key level suggests a potential reversal.
- 61.8 Fibonacci retracement zone identified as a logical downside target.
Trade Idea:
- Short position on the #FTSE.
- Place stop-loss above recent swing high.
- Primary target: Previous swing low on the daily (1D) chart for a 3:1 risk-to-reward ratio.
- Consider partial profit closure at the 1:1 risk-to-reward level.
Important Disclaimer:
This analysis offers a technical perspective and not direct financial advice. Conduct thorough market research and implement sound risk management strategies before executing trades.
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👀 👉 More FREE Signals on Telegram:
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👀 👉 Check Out Our INDICATORS
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.