Signal_Centre
Long

Reverse head & shoulder formation in UK100 remains at forefront

TVC:UKX   UK 100 Index
Our long term bias in UK100 remains positive and this week has got off to a good start with a very solid move higher.
Last week we noted a morning star formation to target a move higher and this has played out nicely.
With BOE hinting at further rate cuts and the continued quantitive easing strategy supporting the long side, further upside is expected.
We look to set longs at current levels to target a move towards 7002 (161.8% fib extension), previous swing high at 7100 and the reverse head & shoulder measured move target of 7340.
Risk to this trade is a break of 6600.
Comment: Prices have reached 1st target this morning
FREE Telegram Group - https://t.me/signalcentre
FREE Trade Ideas - https://signalcentre.com/insight/
2nd target reached
Reply
Hi, thoughts for short term on FTSE 100?
Reply
We continue to buy dips on a daily basis
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out