KVE
Short

FTSE (UK100): Possible bearish butterfly ahead

FX:UK100   FTSE 100 index of UK listed shares
223 2 3
Rally on FTSE             ... I guess what they say is true: 'Buy the rumor, sell the news'... (other way around in this case...)

Currently at double top level with overbought RSI so we might get a retracement or possibly a reversal at this level...

Above is a S/R zone, close to the area where a bearish butterfly completes so if it continues up I will be looking for shorts in the area indicated on chart...
Before entering look for confimation by means of ending structures or momentum divergence on this and other TF's...

Example setups on chart, to be adjusted depending on where it actually reverses (if it does...)

Trade active: PRZ reached, small short here, start small, build position...
Trade closed manually: Stochastics tells me it could be going up again, therefor trade closed in small profit...
Always new opportunities to come...

snapshot
Inverse RIght Shoulder on Weekly Chart...looks very bullish to me....risky short but worth buying if price dips to 6331....or buy upward breakout....
Reply
KVE Trendhopper
Hey man, probably right, I closed because I think 4H stochastics will send it up again, if it fails to move higher or it looks weak and I get other signs I will try to get a better entry.
I think for now it's better to wait...
snapshot
Reply
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out