vlad.adrian

UK market short at resistance

FX:UK100   FTSE 100 Index
204 2 1
This idea is very simple based on the fact that when the footsie reaches the 6700 - 6900 it usually reverses. This area is where all the multi year rallys have ended. I can't tell if the market will pass this strong resistance area in the long term, but it's obvious how on the shorter term it rejects it. Momentum on the MACD started falling so the power of bulls is fadding away. This is only a heads up chart, no trade yet. I want to see a bearish divergence on the 4H chart and then I will pull the trigger.
15.05.2014 entered short at 6852 stop at 6904 first target 6660 second target 6542
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vlad.adrian PRO vlad.adrian
19.05.2014 closed short at 6549, because of big hesitation at support. If this were to fall, it should have fallen directly
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Still looking for shorts
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