Gartley D Waiting for K-line reaction SL:7150 TP1:6935 TP2:6654
As the UK100/FTSE reaches its historical high at 7127, I am looking for a clear opportunity to short and scale out potential profits at clear S/R points.
On the Daily chart of UK100 index we are looking at a higher degree impulse taking place with price specifically trading in final wave (v) of a five wave move. As we can see market activity displayed a five wave pattern in the previous fourth wave correction, that is also known as an Elliott Wave triangle. This is a continuation pattern that occurs prior to the...
After all the Central bank news nothing has changed. GBP was already destroyed for no good reason post BREXIT. There is a massive short position in this pair which will help it push much higher in the weeks and months ahead.
We have the Fed rate decision later, expected rate rise to 0.75%. The FTSE will likely be fairly flat today, but has resistance at 7005 and 7030. 6975 which was the Hull 100 moving average on the 2 hour chart has capped the Tuesday bull run, though bulls will be keen to keep the momentum going with 6950 support. Below that then 6860 is daily support for the...
Looking at a buy initially at around the 6713 area for a rise to 6766 today before more downside.
DAX, CAC40, FTSE100 im M15 und D1 Chart. Was meint ihr, wie geht es weiter?
The bullish Bat pattern will complete at 6727 level and the 1.618EXT of AB is at 6714 level. So it is good to buy at 6710-6727 levels when price action gives signals in the PRZ. SL:below 6709 TP1:6798 TP2:6845 and further more
Entering short is possible from 6850 resistance area or after hourly close below red trendline at S2 level 6800. The following support zones for the index are 6770 and 6740 (as described in 4H chart). Once FTSE 100 falls below 6740, we'll have extra short potential down to 6660.
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The FTSE 100 index has failed yet again to hold above 6800 levels, which suggest the prices could break below this week’s low of 6735 and head towards the head and shoulder neckline seen today around 6685 levels. On the higher side, only a daily close above 6800 would open doors for a more sustained rise to 7K levels.
Failure to hold above 6800 levels for the three consecutive sessions coupled with the Wednesday’s weak close at 6749 suggests the bears are likely to push the prices down to the head and shoulder neckline support of 6680. On the higher side, only a daily close above 6800 would signal a possible revisit to 7K levels.
Ashtead could be a perfect stock to play the broader market weakness since it has a bearish RSI/MACD divergence on 4-hour chart. The weekly MACD also shows a loss of momentum. A major support is seen only at 1365. On the higher side, a daily close above the recent high of 1456 would open doors for continuation of the rally
Failure to take out 5-DMA, 10-DMA and 100-DMA for three straight sessions (including today) has opened doors for a drop to head and shoulder neckline seen around 6685 levels. A daily close below 6685 today or during the rest of the week would signal long-term bullish trend reversal, given the pattern has developed at records highs. On the higher side, only a...
Possible Head and Shoulder pattern on the Daily chart
Watching the daily close today, a close above the 10 MA would give me a great opportunity to get back long with a SL just below the 10 MA Great RRR if it clears and close above with a strong open tomorrow. One added to the watch list.
The daily chart shows bearish price RSI divergence followed by a breach of the short-term rising trend line. The doors have been opened for a drop to 100-DMA levels, which is seen rising to 1020 over the next few days. Bearish invalidation is seen only if prices retake rising trend line, while fresh buying is seen only in case of a daily close above the recent...
The index failed to sustain above 100-DMA level of 6801, which leaves the doors open for a drop to head and shoulder neckline of 6680. A daily close below 6680 would signal a major trend reversal, given the pattern has appeared at record highs.