After shorting it on the initial down move, after the retrace, it has hit support and made an engulfing bearish candle on the 4 hour.
I now do expect it to head lower again, in turn gold to go higher and Yen pairs to go lower.
It is cycling lower nicely and an I think indices could be in trouble over the net few week.
Thanks for looking....
FTSE 100 is close to complete the -5.30% decline after being rejected on the Lower High of the 1W Channel Down (RSI = 49.506, Highs/Lows = 0.0000). The Golden Cross (MA50 over MA200) on 1D was the signal both on the Lower High and the one on the late May 2018 All Time High. 1D is fully bearish (RSI = 33.998, MACD = -8.850, Highs/Lows = -159.7305) even oversold on...
Markets remain in risk-off mode on the US/China trade debate. Also, BREXIT issues are surfacing again.
This is adding pressure to the FTSE. Momentum is negative as highlighted by the 55 SMA slope.
We favour adding on a continuation break today.
Following last weeks short that played out well, now it has broken through the trend line, i expect it to follow the route i have mapped out for it on the chart.
To head lower to ultimately get to 6750 as it cycles lower.
If it breaches and closes below 6500, we have a bear market (however thats a long way off and we don't know until it prints beloiw...
Although on the prior move, we knew that the KLCI will move lower to the support and trendline area which indicates the final wave (Z) correction and (e) in triangle. We were hoping that the price will bounce on these 2 support lines. It did for at least 2 weeks and moved 32.61 points above.
As of now, I will stay neutral on Malaysia's economic, if price breaks...
Updated View On FTSE (16 Apr 2019)
Back Ground: The bullish "immediate" momentum has definitely slowed. There may be pullback along the way. Watch out the region of 7,190 regions as it may act as strong support.
SHTF: It will use 7170 to 7190 as strong support region.
DYODD, all the best and read the disclaimer too.
Feel Free to...
Elliott Wave view on FTSE calls the rally from February 28, 2019 low (7041) as an impulse Elliott Wave structure. An impulse is a 5 waves structure with wave 1, 3, and 5 all subdivide in 5 waves of lesser degree. Up from 7041 low, wave 1 ended at 7370.6 and wave 2 ended at 7146.29 and Wave 3 ended at 7477 peak. Up from 7146.29, wave ((i)) ended at 7222.64, wave...
Typically I only trade the major stock indices when I can see a big move happening. This is because they are dictated by many individual stocks which of course can be influenced by a multitude of factors, so its very easy to get caught on the wrong side of an unexpected move.
The great thing with major indices however is that they do serve as great reflections...
...buy on the dip!!
Standard Life Aberdeen plc, formerly Standard Life plc, is a United Kingdom-based global investment company. The Company operates through four segments, which include Aberdeen Standard Investments, Pensions and Savings, India and China, and Other. The Aberdeen Standard Investments segment provides a range of investment products...
Looking for a potential short on the FTSE 4 hourly chart. We need to see a break and close below the ascending trend line. We have MACD Divergence so just need to see a set up and trigger candle.
Looking for the first 4 hours of trading Monday to review.
Those who have been following the latest Pound trades will know we are already on the sell-side here.
Here is the latest wave count on the weekly chart, we are playing the range set between 50.0% - 76.4% of the retracement leg since the January 2016.
Dollar strength is coming via yields so we have large money on the move here, the leg will be fast and...
FTSE 100 approached our first resistance at 7233 (horizontal pullback resistance, 50% Fibonacci retracement , 61.8% & 100% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 6961(38.2% Fibonacci retracement , Horizontal pullback support, 100% Fibonacci extension )
Stochastic (55,5,3) is also...