UK100GBP $UK100GBP Initial ShortUK100GBP $UK100GBP Initial Short. TP and SL on chart. Move SL on TP. After TP2, trail with 0.5ATR step and 1.5ATR offset.
Uk100gbpshort
UK100 approaching resistance, potential drop! UK100 is approaching our first resistance at 7225 (horizontal overlap resistance, 38.2%, 50% fibonacci retracement, 100% fibonacci extension) and a strong drop might occur pushing price down to our major support at 6921 (horizontal swing low support, 78.6% fibonacci retracement, 100% fibonacci extension).
Stochastic (34,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
UK100GBP approaching support, potential bounce! UK100GBP is approaching our support at 7104.3 (horizontal overlap support, 38.2%, 50% Fibonacci retracement, 100% Fibonacci extension). A strong bounce might occur at this level, pushing price up to our major resistance at 7221.5 (horizontal swing high resistance).
RSI (55) is approaching our major support level and a bounce off this level might be a good precursor of a potential rise in price.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
