Comments – The 4-hour chart shows head and shoulder with the neckline support of 6680. Watch out for a daily close below the same as it would signal trend reversal… given the pattern has been formed at record highs.
Fib retrace area of the election result climb is at 6760; 61.8% retrace area is at 6696. Might be dipping to shake out the longs ready for another push higher.
Here it is my wave count on daily. The weekly view: Good luck!
Looking at the price action the cash markets have rallied after a significant decline at the open. We rejected the 6707 support and since produced a bullish hammer candle. As it stands we are slap bang in the middle of the most recent value area and the price action suggests we will see a test of the recent resistance level of 6945 or the downward trendline...
The bullish Bat pattern is completing at about 6700 levels and the 2.236EXT of the AB is at 6679. Meanwhile the previous structure works at this area.. So it may be good to buy long at 6650-6700 levels when bullish candles appear. SL:below 6650 TP1:6800 TP2:6940 and further more
UK100 Hello pips lovers! I am "projecting" it as a correction from the previous structure breakout... The ABCD pattern formation at Bat completion point is also printed, so we can support this trade idea on both patterns, the Bat and the ABCD. The Bat pattern is valid on each the points, from Point B as an X to A retracement between the 50% <> 61.8...
The banking sector has been hit by Trumps latest resurgence in the polls, but the UK banks received a slight boost after a UK court ruled that MP's will have a say on when and how article 50 will be invoked, increasing hopes of a soft Brexit. The weekly chart has printed a bearish candle signal but on the daily chart prices look overstretched. on the D1 chart...
This Co. has has a interesting time in recent months, the will they wont they OPEC saga has made energy based shares volatile. The most recent rhetoric from today has been from Saudi Arabia who stated that they considered scrapping output cuts if Iran refuse to join in. Last week API and DOE crude oil inventories reported a large build which doesn't bode well for...
This market is still in a technical uptrend although signs are beginning to emerge that we may be falling off, but the confirmation will come if the 6700 level is broken to the downside. In terms of indicators the RSI has moved into bearish territory but is producing a bullish failure swing. On the monthly timeframe the candlestick action is very bearish but...
UK100 forming Monthly Strong Bearish Candle and also if we see double top also Seems on monthly chart around 7123 level. Who Trade in uk100 they can enter in range of 6932-7000 sl above 7050 tp1 6800 TP2 6600 And if hold above 7050 level next we can see 7200-7300 very soon.
The footsie had formed a 'time at mode' signal on the daily chart which has already hit the projected target. Since it only has one day left (Time at mode signals project a price target and a time duration for the possible rally), we can go short if we get a new daily low, with stops above today's high, tomorrow. Good luck! Ivan Labrie.
3rd wave on daily. Happy trading!
Daily chart shows – bearish break from rising wedge pattern followed by a falling channel. The index is currently stuck in a small falling channel. Taking sides is not advisable unless we have a clear upside/downside break.
Looking good for a short here, FTSE moving averages on the monthly and weekly still Bullish, though I believe this is on the turn; Our daily shows a neutral setting and trending towards a bearish move; so taking a nice position here and look forward to making my target, just above this weeks support line. Please bear in mind that this is only my view on the...
Projected channels and price action movement (estimated by mirroring previous moves) Cheers, Keops
The FTSE 100 is set to the end the week lower. Prices failed to hold gains above 7100 levels for the second week, while the losses were capped around 6930 area for the third straight week. Nevertheless, the weak closing would confirm bearish price RSI divergence. That would add credence to the breach of the rising trend line drawn from the June low and September...
Despite Thursday’s rebound from 6924 levels, it is too early to call the index is heading to fresh record highs, given the daily close was below 7000 levels. A positive follow through today with a daily close above 7K would signal a possible move to 7055-7100 levels. On the other had hand, bears are waiting for a daily close below 6950 levels. In this case,...