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Uk100long

UK100GBP approaching support, potential bounce! UK100GBP is approaching our first support at 6921.2 (horizontal swing low support, 78.6% fibonacci retracement, 61.8% fibonacci extension) and a strong bounce might occur above this level pushing price up to our major resistance at 7225.1 (horizontal overlap resistance, 38.2%, 50% fibonacci retracement, 100% fibonacci extension). Stochastic (89,5,3) is also approaching support and we might see a corresponding bounce in price should it bounce off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
OANDA:UK100GBPLong
by Tickmill
UK100 approaching resistance, potential drop! 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 might see a corresponding drop in price should it react off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
OANDA:UK100GBPShort
by Tickmill
UK100 FTSE Bullish Cypher PatternBULLISH CYPHER PATTERN Took a break from the long term analysis. Now looking at opportunities for the coming few weeks. The first one I'm looking at here is a bullish Cypher pattern which has already complete and we are well on our way to hit the first target of this type of pattern which is the 38.2% retracement at 7399 then the second target which is at 7472. I'm sure some traders are already in this trade. I'm not (smh) but depending on what happens when markets open, I may just get in to this and get whatever pips I can. Surfing and fishing at the same time right? What do you think of this? critic, refute, agree! Mentors not Trolls!
FX:UK100Long
by Mirii
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