$UKX Daily Head & Shoulders
Fundamental
GBP Monetary Policy Committee Vote and BOE Minutes May 11th, 2017
UK General Election June 8th, 2017.
Technical
Left shoulder and head formed. Watching for a reversal at 61.8% or left shoulder high: 7300 - 7350 range.
Although horizontal non sloping neckline signalling strong support at 7100 level.
Neckline to Head rally of 4.87%. Anticipating a drop below 7100 of 2.68% to test 6900 handle.
A strong daily break and close over 7350 will exit trade or cancel trade.
Planned Trade
UKX
Stop 7409
Short Entry 7309
Profit Target 6900
Happy Trading
GBP Monetary Policy Committee Vote and BOE Minutes May 11th, 2017
UK General Election June 8th, 2017.
Technical
Left shoulder and head formed. Watching for a reversal at 61.8% or left shoulder high: 7300 - 7350 range.
Although horizontal non sloping neckline signalling strong support at 7100 level.
Neckline to Head rally of 4.87%. Anticipating a drop below 7100 of 2.68% to test 6900 handle.
A strong daily break and close over 7350 will exit trade or cancel trade.
Planned Trade
UKXStop 7409
Short Entry 7309
Profit Target 6900
Happy Trading
Order cancelled
Bulls are in control
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