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UK 100

UK100 Ascending Triangle - Long OrderUK100 Ascending Triangle Long Position Entry: £6,861.3 TP & RR: £7,036.9 (2.21) Stop Loss: £6,781.8 REASONS FOR THE TRADE Unfortunately, this is not a trade that I will take since I already have enough positions for the day and my system prohibits me from being overexposed. From a technical point, this seems like a sound trade - testing lower trendline in ana ascending triangle and the Market Flow indicator printing a divergence. My sixth sense tells me, however, that this trendline may not hold... but it's usually wrong, that's why I count on technical indicators. The Stop Loss is far enough for you to evaluate if the price will drop down or will bounce up and start heading towards the target. I will not count this trade in my journal but I will continue to update it as it goes.
OANDA:UK100GBPLong
by Quant_
UK100 Intraday Setup.UK100 - Intraday - We look to Sell at 5944 (stop at 5979) Prices spiked higher and stalled at resistance in early trade. Further selling pressure led to a reversal in price action. We are trading at overbought extremes. This is negative for sentiment and the downtrend has potential to return. We have a 61.8% Fibonacci pullback level of 5944 from 6042 to 5785. Further downside is expected although we prefer to sell into rallies close to the 5944 level. Our profit targets will be 5845 and 5770 Resistance: 6106 / 6325 / 6515 Support: 5770 / 5650 / 5445
OANDA:UK100GBPShort
by Signal_Centre1