FTSE 100: SHORT TARGET AT 7109 MADE.

TRADE REVIEW: -Technicals; Previous target of 7109 made as a result of a technical resistance at the 7186-7235 S/R zone in combination with an RSI oscillation spike to 85 signalling overbuying of the market from algos. Entry modelled after previous spike to the ~7186 resistance level on the 2nd November and stop set at 7216
modelled at previous flat price action at the bullish-bounce capitulation between the 9-10th October.
-Fundamentals; global sell-off in equities especially in the US with tech stocks leading (Nasdaq 2.8% lower) demonstrating bearish sentiment. Pound weakness in conjunction with fears over divide in Parliament as a result of PMs Brexit deal causing resignations and pressure from hardliners and moderates. This
has caused investors to purchase gilts driving yields lower.
-Result; 74 pips profit, 2.44 risk/reward.
-Evaluation; took profits way too early as the move continued for 126 pips. Any feedback on how to avoid taking early would be hugely appreciated.

NEXT TRADE: Price found support at the 6983 level easily breaking the resistance at 7039 and is currently forming a bearish descending triangle. Always cautious when trading obvious technical patterns due to algos, stop-hunting etc. so will wait for confirmation of price direction before entering direction caused by a break of
the horizontal support backed up by at least two more confluences. Please feel free to criticise/give feedback, thanks.