FX:UK100 FTSE 100 index of UK listed shares
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 in the long term, but it's obvious how on the shorter term it rejects it. Momentum on the 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 divergence on the 4H chart and then I will pull the trigger.