On the 8h chart we can see this huge distribution range. Remember market makers never make this easy....if the retail crowd is overwhelmingly bearish then various tactics will be deployed to target stops. In this example I would expect a retracement higher first. Thus traders who went short with the breakout lower will bail out, and the bullish intraday traders...
Risk-off tone was super strong in Asia and is likely to remain intact in Europe as well. Moreover, there is too much risk in the form of Fed meeting and Brexit referendum over next 15 days, hence risk assets are being off loaded at a faster pace. FTSE 100 index is likely to suffer the most, given the index remained remarkably resilient till last Thursday. ...
Would it be such as bad thing for the Britain as many political person rationalizes? Just for following.
The recent up-move in May looks like a correction, and with BREXIT decision time on June 23rd coming, I believe that price could go very risk-averse ( selling due to many Internat. funds and investors taking their money out of UK shares and funds ). Careful with any intraday trades on this Index, it will be getting very volatile. A " Bremain " could very well let...
FX:UK100 Based on Crossed MA's and Structure. Broken trend, tested, sinking. Targets at fib levels, jump out at oversold territory. Safe Trades;
The index currently trades around 6280. A 150-point move to inverse head and shoulder could happen in a single day. However, watch out for a failure at the neckline, especially ahead of Brexit referendum.
Monthly chart - Bullish Cypher in the making All Cypher conditions appear to have been met. The D leg appears to have begun in April last year. (high of 7127 levels) The 78.6% retracement comes to around 5284. The level almost coincides with 50% Fibo of 2009 low-2015 high level which comes around 5294. A break below 1.1196 preferably on day end closing basis...
The index is likely to open higher around 6090 levels, given the positive action seen in the index futures. Failure to take out daily 5-SMA level of 6118 levels could trigger a fall back to 6073 levels (38.2% of Feb low-Apr high). However, only a break below head and shoulder neckline level of 6052 would signal continuation of retreat from 6215 levels. ...
The daily chart shows a head and shoulder formation could be in the making with neckline support at 6054 levels. Bears should watch out for a rebound followed by a break above daily high of 6167 as that could yield a rise above 6237 levels, which if breached on day end closing would negate the possibility if a head and shoulder formation.
Resistance – 6161, 6200, 6237 Support – 6077, 6036.70, 6000 FTSE finds itself stuck between a range marked by daily 200-SMA and daily 100-SMA. Prices have failed to see a daily close above/below the respective average levels since 5th May. The said range today is 6161-6077. The lower end of the range almost coincides with 38.2% of Feb low –...
Resistance – 6100, 6163, 6200 Support – 6061, 6036.70, 6000 FTSE’s failure to take out weekly 200-MA in late April followed by a sell-off and drop below daily 200-SMA restricted the buying interest this week. We also saw a failure to take out daily 200-SMA hurdle yesterday followed by a bearish move today. The entire price action suggests bears are...
Resistance – 6154, 6175 (200-SMA), 6232 Support – 6081 (100-SMA), 6054-6036, 6000 FTSE’s failure to take out 200-SMA yesterday followed by a negative daily closing has increased risk of a drop to 100-SMA support at 6081 levels. Daily RSI, at 38, is yet to hit it oversold territory, which indicates room for at least 50 points drop. On the other...
FX:UK100 still below 200 days moving average but held above the daily support.
Support – 6061.85, 6036.70, 5933.23 Resistance – 6100, 6178, 6200 Following a breach of rising trend line earlier this week, FTSE has steadily extended losses below 200-DMA to test 6080 (100-SMA today). Daily RSI, at 35.00, shows there room for further downside move. Traders should watch out for a daily close below 6036.70, as it would open...
Bat @ 0.88fib + Shark 0.88fib-1.13fib. stop below 127 fib. (ideally doesn't beat 1.13fib. Double harmonic strong signal there.
Pattern – Falling trend line intact, possible inverse head and shoulder formation ahead Support – 159.35, 152.70, 148.25 Resistance – 162.63 (50-DMA) 177.55 (10-DMA + falling trend line), 183-185 (possible inverse H&S neckline Again, failure to take out falling trend line resistance if followed by a daily close below 50-DMA would add credence to the...