Who said the financial markets were rational? I guess no one, but why people always try to find reasons for an asset to go up or down. When you look at the UK economy and the FTSE making new 'All Time High', we understand my first setence. Price could go much higher if this 'Expanding Diagonal Figure were to play out'
Watched this one for a while as it has resisted at 0.382 resistance from Trend-Based Extension drawn from Low to high to low. Wedge drawn as confluence. Interesting.
We have been patiently waiting for momentum to turn higher, which it finally did yesterday thanks to the dovish 50bp BOE hike. It closed above its recent consolidation, having formed several lower spikes which held above historic highs. From here we now fancy a retest of its YTD high and move towards 7900, near its record high.
In this update we review the recent price action in the FTSE and identify the next high probability trading opportunity and price objectives to target
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The UK 100 index is making a correction. The price has the potential to break the trend line and continue to new highs. Or does it want to reach the daily resistance zone?
In this update we review the recent price action in the FTSE100 and identify the next high probability trading opportunities and price objectives to target
Setup: Holp reversal Trade rating: 3/5 Reward: risk: 3:1
Setup: Squeeze breakout Trade rating: 4/5 Reward: risk: 3:1
UK100, the price is in the strong resistance zone 7880, expect the price to drop, sell the red zone, the first target is 7663.4, if the price breaks through. Next targets 7545 and 7393.6 >> GooD Luck 😊
FTSE100 (UK100, UK stocks index) been laggard for many years in comparison with many of it's peers. Now it seems the UKX will finally make new all-time high🍾 and will go even higher. I think we are in continuation move up after breaking out of the consolidation in form of triangle. Target @ 9090 being measured move - height of the triangle projected from...
The majority of traders have been short on this market since the3rd of November and currently 92% of traders are selling. In combination with the price moving upwards, this creates a bullish indicator. We can see how they get it wrong all the time, This market is very aggressively heading higher. A pullback would be welcome
Reason for taking this trade - overall bullish trend - daily resistance broken and turned support - 38.2% and 50.0% fib confluence
Value/ uk100 been over pumped only 4% off ATHs. commods have pumped it higher, global recession will SMOKE this. also any continued weak inflation = growth trade back on = ppl dont want value = uk100 dump. SHORT: TP -20% SL 8000 (multiple closes above) 4/1RR worst case. 7640 7700 7800 7900
Following Trendline Since Longtime And Making New Lows Now Expecting Test Of Trendline Horizental Resistance + 200 Sma If Got Cleared Than Official Uptrend Will Start Well For entry Wait For Breakout And Retest Then Can enter Stoploss will Be Updated After Breakout and Retest
Comment : 1) UK100 has fell below Neckline A and closed the week at 7018.61. Although UK100 has BO the neckline for several times before, but those one still able to close above the neckline. Unless UK100 could rebound to above Neckline A, else it would face another round of downturn below the neckline. Support & Resistance : R : 6355 +/- DISCLAIMER :...
FTSE 100 has recently experienced golden cross on 1-day charts. Resistance in 7600s was surprisingly easily bypassed Friday / Monday, and 7700+ was comfortably reached again post uneventful JP speech. Is this a bullish cup & handle on 15 minute, suggesting push towards 7800? Or will the FTSE face trouble with upcoming earnings this week, given last nights data...
UK100 is in an uptrend. Expect the price to test the resistance 7721, if the price fails to break through the resistance 7721 red zone, consider selling positions, first targets 7545.6 and 7393.6 >> GooD Luck 😊