EvanJones

Potential Double Top in formation on FTSE

Short
FX:UK100   FTSE 100 Index
4
Observation from the chart looks like we may have a double top on the Daily timeframe. If this is confirmed then we could see a big move down.

The way to play this is to place pending Sell Stops below the 7000 area and target the nearest monthly pivot in the 6825 area.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.