Trading day preparation. Although pullback is expected in the higher timeframe, we can see some more upside in the lower timeframe. We discuss several scenarios that could play out. We see two ways to enter a trade.
Trading day preparation. Although pullback is expected in the higher timeframe, we can see some upside today in the lower timeframe. We discuss several scenarios that could play out. We see three ways to enter a trade.
A pullback in the higher timeframe seems likely. We have 5 waves up as an impulse in the weekly, daily, and 4h timeframe. However, as divergence in the weekly is not really outspoken, a new high is still possible. Investors should wait for the pullback to buy. Traders should analyze the lower timeframe.
The FTSE snapped a 4-day losing streak yesterday, after the pullback from its record high found support along the bullish trendline. A bullish engulfing candle also closed above the 10 and 20-day EMA’s, after the RSI (2) went into oversold territory the day prior. So it appears a swing low has formed and we’re looking for a move back above 8,000 whilst prices...
We have been patiently waiting for momentum to turn higher, which it finally did yesterday thanks to the dovish 50bp BOE hike. It closed above its recent consolidation, having formed several lower spikes which held above historic highs. From here we now fancy a retest of its YTD high and move towards 7900, near its record high.
There are two setups on this chart:
1. Buy Setup
We expect the price to pull back to the Supply Zone where we are looking to sell and take profit at the next Demand Zone.
2. Buy Setup
If setup 1 plays out as expected and the price return to the demand zone (setup 1 target), we will buy at the level and take some profit at 7481.6 area. I personally will be...
📍 This diagram comes after the conversation with @lu1977hk, and is no more imaginative than the positional flows across the global equity board.
In Italian Equities the initial offensive targets for sellers come in at 18,466; 17,643 and 16,819 from a "fibs perspective". The connection of further downside in European and Global Equities is more or less the same...
INDEX:FTSEMIB is clearly in a multiple years Sideways Market. I'm bearish with all the italians markets.
Only yesterday I've shorted the index on IB . Today I've opened a Sell PUT Option.(looking forward to build some other strategy on this one).
The next support is at 16% drop.
Two facts making me belive that a short position is the right thing to do.
Italy is in huge difficult to contain the coronavirus. They will lock entire cities and regions in the next week. The economy isn't string at all.
The FTSE MIB index remains within Intermediate wave 4 .Minor wave X seems to have definitely ended up as a triangle, even if the Minor wave X scenario as a double three (as proposed in last week's analysis) still remains open. In the first case (Minor X is triangle), at present, the index is in the Minute wave A of Minor Y and specifically, in its third wave of...
The FTSEMIB remains in its phase of correction of the long-term bearish trend. In particular, Wave 4 Intermediate would seem to be forming as a double three (double correction) WXY of Minor degree. The latter after finishing the W as flat expanded, has given way to the X, which at the moment seems to have completed as a double three (WXY) Minute grade. The latter...
Hello traders! Today i want to show you FTSEMIB - italian index! It finally broke 24000 resistance area that as you can see from a weekly perspective it was a really important resistance zone! Usually don't post a lot of ideas about indexes but this one is really a nice breakout! Have a nice day traders!
Italian Index is breaking out above the relative high at 21700-800. Just let's wait to see a weekly close above this level and a confirmation afterwards. Price oscillator is moving above the zero, confirming the upwards cycle. Natural target of a buy strategy is at 24000.
This is only a trading capability - no recommendation !!!
Buying/Selling or even only watching is always your own responsibility ...
.zip (with PDF`s) @ my Google Drive
In percents away from all-time high & low by last close (57 Share Indices)
drive.google.com
Best regards :)
Aaron
