We are at a zone where we encounter three reasons to resist.
1. 0.786 FIB Level
2. descending trendline
3. 4h S/R level
In addition, we have 2 sell signals of the Wavereader.
I don´t need any more reasons to try a short here.
As @Traderwell requested, here’s my view about the UK100!
Short-term, the 7072 is a support that must not be lost, otherwise, we might just lose the 7k again. The breakpoint is 7118, as if UK100 breaks this point, then it’ll aim higher levels.
The danger lurking the index is the head and shoulders, a bearish pattern that has a neckline at the 7072, and the...
The strengthening of the dollar is not over yet, with the beginning of a new week its rally will continue.
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A low strength sell signal (1 of 3) after testing the psychological level (1.3900).
The target for the deal is 1.3800 (100 points of profit)
Please complete the transaction and do not close the deal
After 3 hours, the price will close a day candle above the stop, please remove the stop and continue with the transaction
What happened?
that the extension occurred in wave b and soon the price will return down to complete the c wave
we propose a downward move on UK INDEX and this will indicate that pairs which one side is GBP will be affected
the downward move is toward 6217 and then 5990
H4 - bullish false break
H1 - reversal pattern (divergence + convergence)
M15 - POTENTIAL bullish impulse.
Trading a potential setup is risky and much more aggressive than trading an actual setup. If you are not completely sure how to handle this one, better skip it or wait for the actual M15 structure (bullish impulse) to complete, than wait for the pullbacks...
UK100 has touched the top of an uptrend channel and has already reversed towards the bottom of this channel around 7000. RSI is in the overbought region too to support this.
Good Luck!
In this video, I share some of our sentiments on the direction we speculate the indices to take for the month of May.
Nasdaq100
Ftse100
Nikkei225
Dax30
If you wish to learn how to trade stocks or indices you may DM me for more information.
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Thanks for the support
Namaste
Good evening all, I am overall forecasting a bull move coming in for the FTSE 100 shortly... this is due to price failing to maintain the HH HL price action.
HOWEVER....
We all know we trade what the market gives us which is why I always have multiple entry's for both bullish and bearish should price decide to go against my forecast. Now, every entry you see is...
