UK100 showing bearish momentum supported by 4H divergence with recent Break of Structure (BOS) and strong resistance. Entry is placed as Sell Stop below the previous LL. TP is at 1:1 and SL at previous HH. Note: You can close half of the position at 8098 level (if you are not comfortable with price going more down). What do you think, will it work?
H4 - Bearish convergence Currently it looks like a pullback is happening No opposite signs H1 - Bearish trend pattern Currently it looks like a pullback is happening Until the two strong resistance zones hold my short term view remains bearish here.
UK100, 15m Sell Entry - 7192.8 Stop Loss - 1207.4 (14.4 pips) Take Profit - 7152.8 (40 pips)
Key level reached which is an ideal area to sell with a tight SL. Goodluck
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I expect pice to retrace a bit before it carries on a uptrend. So i'll be looking for sell opportunities
UK100 is 'busting accounts'. Now it is time to get some payback? Price is hitting upper resistance. Risk to Reward is insane.