FTSE 100 still trading within a parallel channel and did not breakdown as expected. Whilst we did not breakdown, we saw some very low volume and a sidewards move with a small loss on the week.
Next week is a big week and depends on the covid & brexit news.
We would see a good bullish week should be be able to break above the .5 fib level around 6300.
I have personally taken a couple of long positions in equities and indicies and expect /hope to see a bounce upwards in the channel.
@BH42 what are your thoughts now after today's dampner?
BH42
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@virtualtechie11 doesn’t look too positive to me, deaths now rising in USA which will have a huge impact on markets should they keep rising. Personally I am only in tech shares right now.
virtualtechie11
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@BH42, i would agree, it has broken the rising channel and formed descending triangle (technically) and with all the fundamentals you mentioned,
i made some mistakes, was not very disciplined didnt put a stop loss and not willing to accept that i was wrong and cut loss, but it is what it is, might take it on the chin, and sell out, that is all profit gone lol that was made, but it was learning , its not as if i have lost thousands, just hope , ftse has a better day tommrow lol , al least i am back to 0 and not negative lol
lessons learnt - always have a set plan before taking the trade.