🔸Hello traders, today let's review the daily chart for UK100. Recently solid gains and we re-tested the ATH however correction/pullback in progress now. rejection near 7900.
🔸This is a setup based on repeat price fractal. 7615 heavy resistance overhead, right now we are trading at 7265, pullback in progress and expecting further losses this week/next week. key supports / reload zones for bulls below: at 6850 and 7000. expecting correction to complete in 1-3 weeks and then we should be ready for a bounce play.
🔸recommended strategy bulls: wait for pullback/correction to complete near reload zones and be ready to buy low. SL fixed at 6750. TP1 +400 TP2 +765 points final TP bulls is 7600/7615. swing trade setup / patience required. good luck!
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