FXT_TL

UK100 ready for a short!! (sunday at opening)

Short
CAPITALCOM:UK100   FTSE 100 Index
Dear traders,

First of all, enjoy your weekend and have a great sunday.
Ofcoure our weekend is time to backtest and our sunday is used for preperation for the upcoming week.

1 trade that we are sure to trade, probably at open on Sunday, is the UK100 .
This pair has shown an impulse downward move followed by a correction wich took a while.
This corrective move basically showing us that the bulls didnt find enough power to have the upperhand.
Bears are taking over.

As shown in our chart we can see that there was a counter-trendline wich held for a day, after it broke structure it retested and got rejected.
After the break of structure all the timeframes that we are interested in are aligning perfectly and we are ready to trade.

To wrap things up:
Sunday at open we will be interested in taking a short trade on the UK100 because of the indicators, timeframes and structure on these timeframes that align.

Wishing you an amazing trading week and stay safe!

Kind regards,
Tim.