Hi, folk were too bearish hence my abandonment of my bearish scenario and placement of these bullish trend lines pre-US election. The push up seems to have put many traders onto the wrong side of the trade. These lines look valid, check out how they may be confirmed by the last few weeks of price action at the higher end of the channel.
It's still looking bullish to me. There is always a potential for it to snap back I'm not expecting this (at least until March).Next event to trigger a move will be the EU Deal. This of course will be done but my expectations are:
- Deal may keep UK in range if not further decline
- No Deal potential to drive market to previous highs and beyond
I'm not a fulltime trader and not in a informed position to be making calls about the UK market but been looking at charts long enough to read the markets.
Best, Hard Forky
It's still looking bullish to me. There is always a potential for it to snap back I'm not expecting this (at least until March).Next event to trigger a move will be the EU Deal. This of course will be done but my expectations are:
- Deal may keep UK in range if not further decline
- No Deal potential to drive market to previous highs and beyond
I'm not a fulltime trader and not in a informed position to be making calls about the UK market but been looking at charts long enough to read the markets.
Best, Hard Forky
