Almost a shooting star on daily, but no close below prev day high. So reversal candle not quite formed. Meaning demand at prev high of day
We've broken out of a down trend and made structure break above trendline. I'd be looking for cautious longs if it can hold above 10's and make new high above 44s. However 64 looks like a nasty level for a bull trap.
Invalidation on return to and hold under 5984-980s as significant supply has been provided here previously
More positive news of furlough or rona support would be a good kicker for a move to the topside or I'm not really convinced of bullish moves and would return to looking for a major break to the downside (coinciding with sliding gbp)
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More or less has to send from open for there to be any interest for me, also poss bounce from retest of trend but not likely as would then be under 10s structure
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more shitty rona headlines could give a gap down on open, most likely I'm not taking anything here
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sfp under 82 would be nice though, as that SH is sitting for the picking
Potential lockdown next week, uk100 could slump to 4838 again.
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@paulcarter840, well aware, as the idea explanation shows this was a scalp that didn't end up setting up for me. As I also stated in my explanation that without more pos. news for brxt, CV19 support etc, i'd be looking for major downside