Short

UK100 reaching historical high.

Updated

As the UK100/FTSE reaches its historical high at 7127, I am looking for a clear opportunity to short and scale out potential profits at clear S/R points.

Note

Still climbing, currently at 7093. Waiting for further movement for a clear signal and to reduce stop loss gap.

Note

Open SHORT position at 7101.80 with S/L at 1737

Note

Correction S/L: 7137

Note

Note

Short FTSE is now in the money, however it is still too early to tell if this is a reversal. I will leave S/L as is until there is a definitive move downward before setting B/E. There could still be another test on the support to come.

Trade closed manually

Looks like UK100 is continuing its test of precious highs, it did not break down dramatically as I anticipated. Will let it test again, clear my mind and see it from a fresh perspective. Closed at +18

Trade active

Took another short position this morning at 7098 as FTSE retested its highs. It went as high as 7124 and was rejected. That was the candle I was looking for.

Let's see if this is where it breaks down as there are now 3 tops, the last one being lower than the rest. Good luck all.

S/L at 7133.

Note

You could wait till a clear breakdown and retest or you can take a bit more risk and get in now. This trade will most likely have to be held over the weekend into next week. Let's see.

Trade closed: stop reached

I got stopped out and UK100 broke its all time high by a few pips. Going to sit back and see what happens now. -34.5 pips. Happy New year everyone!

SageFXTrading

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.