From T1, parallel to T2 which was confirm by "kiss" for a nice short position to a parallel channel down to target 6130. (TP1 was 50% fib, 50% of position closed) Personally, this was my biggest ever profit - timescale. Now we are on T3, i would like to see another test of this lower channel line to confirm its validity and up it should go. Stops just below 61.8%...
It seems a point of inflection.
Happy trading!
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I present you 6 stocks with the same pattern action.
SPX500 AUS200 FRA40 GER30 UK100 FX:JPN225
Contrary to popular belief, I don't see any preference of expecting stocks to crash. I just see scared investors because prices touched the support levels, so everyone is panicking about it.
This also happened last year on October, many people panicking that it...
An inverse head-and-shoulders pattern has formed on the FTSE, with a projection of around 200 points, which would pull it towards the 6900 handle. This leads me to believe that market makers are looking to clear out the stops that will be resting above the 'double top' before any further move down in the index.
6921 is the 70.5 OTE fib retracement from the 10th...
Potential short as price is at structure forming a double top. Consolidation through price meeting the 0.5 fib level. I will wait for a lower close, bellow the dotted line before I enter this trade.
Fundamentals
The National Health Service
The NHS is under a vast amount of pressure due to the lack of funding by the UK government. Last year, British authorities funded the NHS of a total of £700M but unfortunately the bailouts to help the NHS cope with winter pressures have not reached front line services in some parts of the country, Britain’s top emergency...
Here are the things that drove the market down.
Japanese Election 14 Dec
Fed Interest Announcement
Technical indicating markets being overbought
As you can see, the technical are above the below the danger zone of overbought and have just passed the danger zone of oversold (Shorter Term charts like 4 Hours)
Why I believe the market rallying from now (Technical...
RSI divergence and a MACD crossover suggest UK100 is heading for another downtrend. I am just waiting for an RSI cross below 50 to confirm the negative trend.
