Looking at the FTSE_100 TVC:UKX lets first take a look at the facts. Price is below the daily 200 moving average Price has used a previous support level as resistance A break and close below the next support level will confirm a lower high (which is a sign of a downtrend) These 3 facts do not give us confidence that we are still in an uptrend but it is...
We posted on the EURUSD yesterday and how we require a bounce from support. The GBPUSD is no different and has a very similar structure to it. We have highlighted the breakout bar that offered an initial long entry that we took with little hesitation as our edge had presented itself at the start of the year. Our bullish edge is defined as follows: Monthly...
With ASOS LSE:ASC recently breaking out through the previous all-time high which was around £72 back in 2014 we may have a trading opportunity soon. So far price seems to be struggling to gain some steam and currently appears to have found some comfort around the previous all-time high and is gravitating towards that zone again. When we see a break of an...
Dechra Pharmaceuticals LSE:DPH has been consistently growing since it launched on the UK Stock Market in 2000 where it opened around £1.25 and now currently stands at £25. Although it has consistently risen ever since, the trend does contain deep pullbacks so if you decide to trade this stock then you will have to ride through periods of pullbacks that do last...
The most profitable environments across all the markets are trends, either bullish or bearish. Since 2016, the trends have been very much in stocks with UK stocks such as Boohoo and Burford Capital and US stocks such as NVIDIA and Boeing handing out excellent profit in this most recent bull run. Forex, in comparison, has been notorioulsy difficult to trade, with...