CompositeTrader
Short

UKX Price Action Analysis | Distribution Schematic

TVC:UKX   UK 100 Index
The Distribution Schematic #2, by Richard Wyckoff:
https://bit.ly/34rPcRe

UK100 is currently in Phase D and has already done a Bearish SFP, which indicates a possible downtrend. This seems like a nice example of the Distribution Schematic #2 and also has a fundamental background due to #Brexit. Rest is Risk Management.

Entry: 7390
SL: 7810
TP-1: 6910
TP-2: 6610
TP-3: 6360
R/R: 2.44


‪Please let me know if you have any suggestions or any ideas to add. I can also give you more detailed explanation for this specific trade setup.‬


‪The ideas published here are not financial advices. ‬
Dec 05
Trade active
Very good analysis
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CompositeTrader CryptoTrend-Alerts
@CryptoTrend-Alerts, thank you so much!
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Thanks,Interesting chart which predicts the same UKX action going forward as my own EW studies.
I am not familiar with Wycoff Theory but will take a look at this with interest!
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@Geofftv1, thanks for the comment! Most of the principles of technical analysis have the same result, if they are understood and executed properly. I will take a look to your ideas too.
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