UKX: false break over 6053

23.02.2016 / 10:51

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UKX: mid-term movement short, short-term long, up to levels of resistance 6053

False brake over 6053, as the 4 hour bar couldn't close over 6053

Bear flag in a downtrend.

Pin bar at levels of resistance- negative signal

Price opened with a gap under the base of the pin bar - negative signal.

CCI(50) went under 100, which gives a signal for a possible correction of the short term long

This situation can be traded by entering short after closing the gap if it does with a small stop loss and small risk, or a short position from current levels with a bigger risk because of the bigger stop

Stefan D. Angelov - Head of Stocks Trading

Varchev Traders

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UKX: false break over 6053

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