Technical Analysis GB100 : 2020-09-15

IFC Markets

Master Trader
Oct 31, 2012
1,415
4
84
London (Great Britain)
www.ifcmarkets.com
Recommendation for GB 100 Index: Buy

Buy Stop : Above 6081.11
Stop Loss : Below 5780.24

IndicatorValueSignal
RSINeutral
MACDBuy
Donchian ChannelBuy
MA(100)Sell
FractalsNeutral
Parabolic SARBuy

Chart Analysis
IFC Markets Tech Analysis

On the daily timeframe the GB100: D1 is testing the 100-day moving average MA(100) which has leveled off. We believe the bullish momentum will continue after the price breaches above the upper boundary of Donchian channel at 6081.11. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 5780.24. After placing the order, the stop loss is to be moved every day to the next fractal low, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (5780.24) without reaching the order (6081.11), we recommend cancelling the order: the market has undergone internal changes which were not taken into account
Fundamental Analysis

UK economic reports were mostly positive recently. Will the GB100 rebound continue?