BoE keeps interest rates at 5.25%
- This topic has 4 replies, 1 voice, and was last updated 2 months ago by
Christian Harris.
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Topic
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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.
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