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Here we have our UK 100 (FTSE) chart.
This is an asset I trade daily.
With the current news sentiment we have seen a fast and sharp move down followed by a swift rebound. we are at Key MA's and some good support.
We are looking to get long again. TGT area is noted by the Blue arrow on the chart.
I don't know what to tell you folks I'm seeing patterns from 2008.
OANDA:UK100GBP
TVC:UKX
FOREXCOM:UKXGBP
NYSE:DOW
Not only will Global markets be affected this will create a recession. INVEST IN BTC...
Bounced nicely as expected but has run a little too hard out the gates for my liking. Up against lateral resistance and hidden bearish RSI divergence confirms. Would like to see 7090 area re-tested
Short-term Elliott wave view in FTSE suggests cycle from September 20, 2021 low has ended with wave (1) at 7403.36. The Index is currently correcting that cycle within wave (2). Internal subdivision of wave (2) is unfolding as a zigzag Elliott Wave structure. Down from wave (1), wave ((i)) ended at 7342.61 and rally in wave ((ii)) ended at 7370.01. Index resumes...
After a false break higher out of the upward channel (bearish), the sell off has been relatively quick. Currently a bear flag building. First target is 7185 with lateral support coming in around 7140
The UK100 has been on a good run in recent weeks, in keeping with the broader trend in stock markets that have reacted very positively to a strong third-quarter earnings season.
This followed an adjustment prior to the start of the season as investors started pricing in earlier and earlier rate hikes, not to mention more of them over the next couple of years, in...
Short Term Elliott Wave view on FTSE suggests the rally from September 20, 2021 low is unfolding as a 5 waves impulse. Up from September 20 low, wave 1 ended at 7159.61 and dips in wave 2 ended at 6945.50. The Index then rallies higher in wave 3 towards 7281.176, and pullback in wave 4 ended at 7192.05. Internal subdivision of wave 4 unfolded as a zigzag structure...
From a Pro FTSE Stock Index trader..
Looking for the FTSE to come back to the Support + Mixture of MA's and we will look long again. For now, It is short back down to this area, where we will then flip long.
Lets get it!
Index has reached the top of the upward channel. I would expect to see a pullback here. RSI has failed to make a higher high in line with the price action, indicating divergence.
We are using our POW reversal strategy for this trade a UK100 long.
Trade details for current trade are shown on the chart.
We are working the 15M time frame on this strategy.
We're looking for the green line which is take profit target.
Little blue arrow is entry point and purple line is stop loss.
Trade history can be seen at the foot of this trade idea too...
We hit target out the gates this morning, but the subsequent bounce has offered another opportunity to re-short. Stops at 7255. Targeting initially 7190, but would like to see 7150 tested. Month end today so volatility not unusual.
Index has broken upward sloping support and has been consolidating below prior support for the majority of the day. I favour further downside - looking initially for 7180 region.
Financial Times Stock Exchange (FTSE) has continued higher following other major indices world wide. Short term Elliott Wave view suggests the rally from September 20, 2021 low is unfolding as a 5 waves impulse Elliott Wave structure. Up from September 20 low, wave 1 ended at 7159.61 and pullback in wave 2 ended at 6945.04. Index then resumes higher in wave 3...
Followed by news for less than expected inflation expansion in the UK and an hourly uptrend since 6 Oct, FTSE is expected to retest POST-COVID highs.
Technical analysis for fibbonaci extensions levels and Elliot impulse wave, suggest that a final extensions WAVE 5 is expected towrd 127.2% extensions of current trend. (7335.1)
Open Position at100% breakout...
Taking some profits here as we hit resistance. Will looking to start accumulating again if/when we re-test 31. I was overweight the ETF ahead of the divi so happy to go slightly underweight here
