channel trade 12th July

TVC:UKX   UK 100 Index
18 0
We are very much range bound between 7380 and 7300 so was looking for a bounce down off that ceiling this morn which is now underway.
No spike this morn but the 5min bar break up worked. After a volatile day we normally get a wound licking day. I am looking for pivot or at least 7340.
Notice how daily patterns repeat or appear in reverse form? Yesterday was very similar to 6th July and today is likely to be similar to 5th.
Comment: I meant 7250 not 40.

I should also say that we have last night's gap drawing us down to pivot.
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