$UKX Daily Head & Shoulders Short

UK 100 INDEXTVC

Description

⋅ May 9, 2017 7:16 AM

Fundamental
GBP Monetary Policy Committee Vote and BOE Minutes May 11th, 2017
UK General Election June 8th, 2017.

Technical
Left shoulder and head formed. Watching for a reversal at 61.8% or left shoulder high: 7300 - 7350 range.

Although horizontal non sloping neckline signalling strong support at 7100 level.

Neckline to Head rally of 4.87%. Anticipating a drop below 7100 of 2.68% to test 6900 handle.

A strong daily break and close over 7350 will exit trade or cancel trade.

Planned TradeTVC:UKX
Stop 7409
Short Entry 7309
Profit Target 6900

Happy Trading

Order cancelled

⋅ May 10, 2017 8:54 PM

Bulls are in control

FTSE 100 Index