BoE keeps interest rates at 5.25%

  • This topic has 4 replies, 1 voice, and was last updated 2 weeks ago by Christian Harris.
  • Creator
    Topic
  • #181667 Reply
    Christian Harris
    Participant

      Here’s a FTSE 100 day trade I just closed.

      My analysis in a nutshell:

      • The FTSE 100 is in a downtrend (higher timeframe analysis).
      • The Bank of England (BoE) announced at 12:00 yesterday that it’s keeping interest rates at 5.25%.
      • The FTSE 100 rallied for the remainder of the day, as a higher interest usually is bullish.
      • I decided to trade a pullback today because the FTSE 100 is in a downtrend overall.
      • At around 8:00 today, I entered a short position, targeting the 0.618 Fibonacci retracement level
      • My take profit hit in around 2 hours.

       

      Reply
    Viewing 1 reply thread
    • Author
      Replies
      • #181896 Reply
        PipPredator240

          Thanks for sharing again.

          Can I ask do you always use TradingView for your day trades?

          Reply
          • #181935 Reply
            Christian Harris
            Participant

              TradingView is my go-to charting platform for analysis, but I don’t trade directly from it.

              Reply
          • #182655 Reply
            PipPredator240

              is that because it simply has the best tooling set?

              Can I ask which platform you use to actually trade?

              Reply
              • #182688 Reply
                Christian Harris
                Participant

                  I use TradingView for charting because it is super easy to use, is fast on both desktop and mobile, and has a vast collection of built-in and community indicators.

                  The fact that it’s a third-party app also helps to avoid random fake candles that sometimes appear on broker charts.

                  However, I place trades using cTrader because it links nicely to my broker and has many excellent features including an economic calendar.

                  Reply
            Viewing 1 reply thread

            Reply To: BoE keeps interest rates at 5.25%
            Your information: