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UK100 H16: TP +500 points BEST Level TO SHORT IT(SWING/NEW) IMPORTANT NOTE: speculative setup. do your own due dill. use STOP LOSS. don't overleverage.
🔸 Summary and potential trade setup ::: US/Global stock markets are maxed out ::: UK economy managed by team of degens ::: Hundreds of thousands of people have already lost their jobs ::: FED RATE hikes incoming December 2022 ::: expect pullback/correction mode SOON ::: sliding S/R resistance at 7450/7500 ::: maxed out / overbought conditions ::: BEARS will take over from overhead ::: expect limited upside going forward ::: SHORT IT near resistance Target is 7000 ::: Conservative TP BEARS is 7 000 points ::: unsustainable gains, pullback incoming ::: distribution at the TOP setup ::: spells MAJOR trouble for the BULLS ::: BEARS taking over from overhead S/R at 7500 ::: expecting CORRECTION to last next 3-6 weeks ::: distribution at the top in progress ::: will lose up to 10% during pullback/correction ::: There is no upside in this market now ::: Get out / trim exposure / or SHORT IT ::: RISK/REWARD shifting in BEARS favor ::: into BEAR mode soon ::: either way setting up for 10%+ correction ::: 4-6 weeks of correction incoming soon ::: better be prepared in advance ::: when there's GREED there's also PAIN ::: good luck traders 🔸 Supply/Demand Zones ::: N/A ::: N/A 🔸 Other noteworthy technicals/fundies ::: TD9 /Combo update: N/A ::: Sentiment: BEARS/BULLS GAME OVER ::: Sentiment outlook short-term: BEARISH /CORRECTION
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