FTSE Bearish channel in play.

FX:UK100   FTSE 100 Index
153 7 6
Nice and clear bearish channel on FTSE             .

A sellstop below the 4H low present a nice risk reward opportunity.

SL: 6064
Target: Lower trendline or 5500.
Trade closed: stop reached
It is a good trade and I got into as well. The problem is that it is keeping the strong support at around 5900.
Norsefx PRO FrankRich
5840 area looks like a stronger area of support to me, since its matches the 38.2% fib & previous consolidation. So far price is behaving as expected. Still confident, and i still have the full position on. Thanks for commenting! Cheers.
FrankRich Norsefx
sure. My first target is 59860/40 as well but looking in short timeframe 5900 is strongly keeping. Still in as well. I will lose confident in the trade if it goes above 5930.
On the POINT!
+1 Reply
Thanks for the feedback! It means something when its coming from you. Cheers!
I like it!
+1 Reply
Norsefx PRO james.henry.779205
Thanks James, i like it to, Order got triggered 20 hours ago, lets see how it goes.
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