Short
SHORT FTSE 100
Short FTSE 100 @ 7450
TP: 6900
SL: Around 7700
The UK has many problems involving the PM, energy, cost of living crisis, recession, inflation and a devaluing currency. Normally GBP weakness was beneficial for the equity index however, the correlation has broken down. THE BOE has admitted that we face 5Q's of recession ahead and I cannot see how that is positive for stocks. I have therefore sold into this rally and will look for sub 7k lvl to TP.
This trade could take a few months but I am happy to sell into this rally.
Good luck! ;)
TP: 6900
SL: Around 7700
The UK has many problems involving the PM, energy, cost of living crisis, recession, inflation and a devaluing currency. Normally GBP weakness was beneficial for the equity index however, the correlation has broken down. THE BOE has admitted that we face 5Q's of recession ahead and I cannot see how that is positive for stocks. I have therefore sold into this rally and will look for sub 7k lvl to TP.
This trade could take a few months but I am happy to sell into this rally.
Good luck! ;)
Note
Ftse short running at +200 pips in profit
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.