IvanLabrie
Short

BARCL: Ample downside to be seen in Barclays

LSE:BARC   BARCLAYS PLC ORD 25P
The chart speaks for itself, we have a very clear downtrend here, after breaking below the key earning levels above after the 'Brexit' induced volatility spike. We can enter shorts for continuation here, and look for prices around the 70 handle, without being overly optimistic (or pessimistic on European banks).
Price has to stay under today's high for this setup to remain valid, otherwise it would consolidate before eventually resuming the accelerated decline towards the lows.

Check out my updated track record here: http://pastebin.com/6CyyqnPT

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Cheers!

Ivan Labrie

Link to Tim West's chatroom: https://www.tradingview.com/chat/#c8BzrhGRvXxGXWnJ
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.


Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance             on such information.
Trade active: Short if price drops under 130,2 after the London open, stops above 137.
Target 70.
Comment: Order didn't get triggered, have to wait to short, for now it might retrace higher, or drop back down below the mode and become a valid short again.
Order cancelled
Trade active: Shorting a new daily low with a stop above 154 will be optimal here.
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