Chart is self explanatory. Brexit times, Covid times.
The situation looks very dismal for FTSE100 as since June's High, the index has been trading within a Channel Down that has already lost almost 50% of the post March gains. Additionally, the MACD on the 1W chart just made a Bearish Cross. The whole sequence from start (Death Cross) until now, loos very similar to the 2008/2009 credit crunch. Have the markets lost...
Currently testing lateral overhead resistance and downward sloping resistance. Doubt it has the momentum here - think we need to see another pullback/consolidation first
Long tailed wick, very oversold, gap at the open. Stop at morning lows.
Breakdown of the support level amid a negative news background for the UK.
looking for a very strong spike up.
Based on yesterday's daily candle close with rejection off new lows, price action looks bullish. Bias will be long above 5791, targeting 5822, 5839.4, 5858 and 5879. 5896 if hit will present low risk short level. Below 5778, bias will be to the downside, targeting 5744 and yesterday's low near 5722. 5682 should present low risk buy level.
So they had a death on the vaccine research and look to be forming a head and shoulder pattern which is typical of a reversal in price, how come the news always comes so in time? the markets are so fascinating.
UK100 - Intraday - We look to Sell at 5944 (stop at 5979) Prices spiked higher and stalled at resistance in early trade. Further selling pressure led to a reversal in price action. We are trading at overbought extremes. This is negative for sentiment and the downtrend has potential to return. We have a 61.8% Fibonacci pullback level of 5944 from 6042 to...
Both fundamentally and technically- we expect a drop. price already in a descending channel which more likely it will be breached from the lower side.
a very simple trade to short ftse 100 down on hourly timeframe, overall trend is slightly down on daily. 1h is now facing resistance. so im gunna short it downwards towards target. if ftse continues down expect a stronger GBP.
I think now is a good time to add an extra short position to FTSE100. I am still short from 6312 and 6300 and looking for new lows to be made. TP1 = 5800 support zone TP2 = 5725 (bearish trend to continue)
UK100 trade made a great move! Let us know if you're in. If you're not in, join our community to get alert's like this. BASED ON 1% RISK YOUR ACCOUNT WOULD BE RUNNING +3.7% OUR STRATEGY EXPLAINED: The entry price, SL and multiple TPs are shown on the chart. Our back testing and money management strategy itself is holding until a reverse signal to ride a...
What happens when banks are the largest part of your index...
Chart and Brexit fundamentals agree on this one: SELL to (at least) 4930
Testing lateral resistance again, RSI divergence continues
RSI divergence also emerging, watch the gap at 5892