FTSE outlookPrice failed to break 50% fib level on Friday. Now formed a potential double top there. Break of the neckline opens targets lower.
Break higher opens way to 61.8%.
Bank of England now put negative rates on the table and escalating US-China relations create potential for a bearish week. A short would be better for risk.
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UK 100
FTSE trend line retestFTSE is on the way to retest the broken trend line again.
Potential to looks for reversals on smaller time frame to trade the bounce.
Morning started on a bullish note for equities and US session starts in 30 mins, so volatility will go up.
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UK100GBP technicaly based forecast
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💡 UK100GBP technicaly based idea, technicaly indicators showing we can expect higher push up in price, we can see strong bulish candels formed, technicaly picture good, expecting to see push in price till FIBO 0.6
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UK100As you can see, price has broken the downwards channel. Price is currently heading back down to retest the channel. One of two possible scenario's will take place;
1 - Price will break through, back down into the channel and continue downwards
2 - Price will reject the channel, thus reversing the current downtrend and will begin to make moves to the upside
In this current market, anything can happen. We can only trade what we see and should never try guessing. I will wait for the retest and enter a position depending on how price reacts.
UK100GBP, We are close to Historical High!!!The price is near the Historical High 7904.4.
A huge chance that it will bounce down.
The best place for Sell entry will be under the High after the false breakout.
Potential profit will be in 3...5 times bigger than risk.
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Before to trade my ideas make your own analyze.
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UKX Price Action Analysis | Distribution SchematicThe Distribution Schematic #2, by Richard Wyckoff:
bit.ly
UK100 is currently in Phase D and has already done a Bearish SFP, which indicates a possible downtrend. This seems like a nice example of the Distribution Schematic #2 and also has a fundamental background due to #Brexit. Rest is Risk Management.
Entry: 7390
SL: 7810
TP-1: 6910
TP-2: 6610
TP-3: 6360
R/R: 2.44
Please let me know if you have any suggestions or any ideas to add. I can also give you more detailed explanation for this specific trade setup.
The ideas published here are not financial advices.
UK100 - If you like big money moves UK100 delivers?When UK100 moves, it moves Big - Big Losses - Big Wins. Is your psychology right for this pair? Well it time to 'mine for diamonds' (Fib ABCD patterns). We hit a deposit. So let's fill our buckets and get out of here!! Let's see what pattern forms at this area of interest 'C'. Then, we will see if it tunnels over to 'D'. Remember - You only need a small chunk out of UK100, don't stay in too long til it starts to bite back.