KVE

FTSE: Squeeze, breakout and then some ranging...

FX:UK100   FTSE 100 index of UK listed shares
92 0 7
As previously predicted, some ranging going on...

Yellow breakout box to trade breakout to either the resistance zone above or the support zone below.
To trade the box breakout we need to look at smaller TF to get decent R/R setups...

Bullish bat TP2 didn't get hit yet, so small bullish bias maybe...

Either way: I'm counting on more ranging, possible until the referendum...

So sell high and buy low close to the range boundaries, SL 20-30 points beyond the zone and target just shy of opposite range boundary and we will have great R/R setups!
Trade active: Long entry on!
Comment: Long entry take partial profit and trail SL to BE, main TP is 6210 and 6230 in extension.

Phase in new short at 6210 and 6230 for another possible ride down... Long can be kept open when shorts are opened so as to hedge until short is confirmed and we know that it won't break to the upside... Close long when short is confirmed,possibly add and ride back down to support...
Trade closed: target reached
Trade active: Bat TP2 also reached..., small short position here, SL 5265, TP 6065, close 50% at half of target, trail SL to BE at 6175..., if stopped out look for possible longs with target 6330 and 6420
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