JamesFisher

Double Bottom pattern (W) UKX April 2020

Short
TVC:UKX   UK 100 Index
Possible short opportunity right now with major indices as Coronavirus spreads and volatility expected to continue.
UK FTSE100 is brought here as an example.
Notice the lowered, yet conservative, second bottom as expectations are for cases to surge due to underestimation of people infected and/or surge in unemployment.

Ideal point of buying is up to 5% above middle of "W" (new support line).