UK100GBP $UK100GBP Initial Short. TP and SL on chart. Move SL on TP. After TP2, trail with 0.5ATR step and 1.5ATR offset.
Key level reached which is an ideal area to sell with a tight SL. Goodluck
Expecting a pullback in the channel pattern!!
UK100 is approaching our first resistance at 7225 (horizontal overlap resistance, 38.2%, 50% fibonacci retracement, 100% fibonacci extension) and a strong drop might occur pushing price down to our major support at 6921 (horizontal swing low support, 78.6% fibonacci retracement, 100% fibonacci extension). Stochastic (34,5,3) is also approaching resistance and we...
UK100GBP is approaching our support at 7104.3 (horizontal overlap support, 38.2%, 50% Fibonacci retracement, 100% Fibonacci extension). A strong bounce might occur at this level, pushing price up to our major resistance at 7221.5 (horizontal swing high resistance). RSI (55) is approaching our major support level and a bounce off this level might be a good...