Let us consider the possible Cypher set up on the daily chart. We are considering a drop from the current level to point D stationed at 5756 levels (Point D is 78.6% of XA leg). At the current juncture such a move appears likely if there is a sharp recovery in the GBP/USD. That in turn appears likely if the Bank of England disappoints markets. Markets expect...
$FTSE100 UK100 short at multiple resis
Everybody is bear, so it cannot fall because everybody cannot win. So What ? i'am still bear.
Despite the rebound from the low of 6472 the index is still sufficiently far from the recent high of 6628 levels and hence the bearish price RSI divergence remains active. Hence, upticks are treated with caution. The index currently trades around 6561 levels. Failure to take out 6585 followed by a drop below 6565 (head and shoulder neckline) would open doors for...
Bearish price-RSI divergence on the hourly chart could see the index test rising trend line support seen at 6501. An hourly closing below 6500 would expose inverse head and shoulder neckline level of 6400. On the higher side, only an hourly closing above 6628 would signal the failure of the bearish divergence and open doors for 6700 levels.
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Today, Bank of England governor Mark Carney said a rate cut is needed after the Brexit vote and hinted that it could come as soon as this summer! This news got the FTSE and the DAX flying up to nearly 300 points. Also, the Feds stated this week that they may cut rates this summer as well, possibly even this month (July) so that is really great news for global...
Not an Academic S.iH.S because Left Shoulder Volumes are far above the Right one Could Be a Eliot 3 cooking, this need Close over 6590 to go Long with stop 6515 ,
Daily chart patterns Inverse head and shoulder Rising trend line intact Bullish crossover between daily 100-SMA and 200-SMA likely Golden crossover already happened in late April 2016 The rising trend line has remained intact despite 'exit' vote victory at last friday's referendum. This is good for the bulls and today's bullish closing...
Despite all the panic after Brexit, the bullish bat pattern and the inverse head and shoulder formation is still intact on the UK's mining heavy FTSE index. FTSE did not even drop to the point D (88.6%) = 5601. Today's low stands at 5727, which is 75.2%. The index currently trades at 6095. So even if we go lower from there, there is still plenty of support...
FX:UK100 Safe Trades;
The above chart may look scary at first sight, but go through the explanation below and things would look easy. The daily chart shows three major technical formations Inverse head and shoulder – right shoulder is in progress. The neckline comes around 6400 Head and shoulder – neckline has been breached, index currently flirting with same. Given the...