KVE
Short

FTSE: Simple breakout or bat?

FX:UK100   FTSE 100 Index
60 2 4
We had a nice bullish bat showing on the 4H charts but for now the retracement was very limited. It seems now that this is only a small correction and the downtrend could pick up any time.

To trade this we can simply sell the breakout when confirmed or if we get lucky we might be able to get the bat to short at a much more favourable level. I'll take the bat if it completes, trading the simple breakout is possible if you can stay to watch it, so look on smaller TF's for setups with decent R/R... It looks like this might be the scenario, as it stands now we might be very close to it, but wait for confirmation in any case!

Support zone below, TP1 (70-80%) above or in that zone at one of the fib extensions, I chose the middle ground...
TP2 (20-30%) below the support zone ...
SL minimum above X of bat, I took it a bit wider (6244)..., example of tighter SL on chart, above 6222.
great analysis
Reply
KVE arif_awan
Thanks!
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out