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Signal_Centre

FTSE - Selling a re-test of the broken channel

Short
FTSE 100 Index (FOREXCOM:UK100)  
Signal_Centre  
FOREXCOM:UK100   FTSE 100 Index
Trend Analysis Chart Patterns Technical Indicators FTSE UK UK100 CFD ftse100 FTSE 100 Index daytrade tradesignals
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trendanalysis chartpattern indicator ftse uk uk100 ftse100 ukx daytrade tradesignals
UK100 is Bearish - We look to Sell at 5933

▪️ Broken out of the channel formation to the downside.
▪️ We have a 50% Fibonacci pullback level of 5936 from 6209 to 5665.
▪️ Positive overnight flows lead to an expectation of a firm open this morning.
▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 5933, resulting in improved risk/reward.
▪️ Expect trading to remain mixed and volatile.

Stop: 5983
Target1: 5665
Target2: 5627
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