According to Head and shoulders Downtrendline channel Resistance and support level Convergence on CCI
Hello people, doing some late night research for the week ahead for trading. I found this (almost perfect) head and shoulders pattern on the 4h timeframe on the UK100GBP chart. Head and shoulders pattern is a reversal pattern so we could be seeing more bearish movement this week. Theres also some Ichimoku cloud bearish signals which some are RED cloud, Conversion...
According to FIBO Retracement Divergence between the CCI with Price Move on Chart Price Action / Minor Trendline Broken , now Re tested
Price is just coming above the support line. I think it will give us pullback to the support. So let's see what will happened. It is just an idea so :D
Trade details for current trade are shown on the chart. Trade has been live since 8:45 UK time and we are using our POW reversal script. We are working the 15M time frame on this strategy. We're looking for the green line which is take profit target. Little blue long arrow is entry point and purple line is stop loss. Previous trade can also be seen on chart a...
UK100GBP is at a key resistance level, as well as being at the peak of a bear flag on pivot 5, RSI 2 & MFI 7 showing massively over-brought, I think there's only one way from here, down. expecting 65.98 eventually, but you can pencil in 71.50 as TP1. good luck, see you at the bottom.
First position got stopped out due to premature entry without clear break of minor structure. The short position in my opinion still valid. Re entered after 1hr confirmation. Swing trade.
Price trigerred my sell entry. I expect price to create now a lower low on the daily time frame after this daily timeframe pullback wave of creating a lower high gets to an end.
First things first, let's set the scenery with some backnotes: - US equities are a ticking bomb as well - Bitcoin is stuck in a tight range and looks for the driver to lead the next move - Inflation keeps rising in the US while rumors for deflation are growing as people believe that 2008 is going to repeat again - USD Index is in a global uptrend Since we...
All depends on open and how Asia foresees the UK economy in the upcoming weeks. Don't forget, the UK is co-hosting the Euro's and with the football going on the pubs are rammed and the economy is on the right tracks.
Good evening all, I am overall forecasting a bull move coming in for the FTSE 100 shortly... this is due to price failing to maintain the HH HL price action. HOWEVER.... We all know we trade what the market gives us which is why I always have multiple entry's for both bullish and bearish should price decide to go against my forecast. Now, every entry you see is...
This is making a retrace after spiking 3 days ago. I am looking for an entry around 0.5 Fibonacci as this aligns with some previous resistance although it is best to wait for confirmation as it could drop further. Once we see a rebound target will be at a new high and where it will meet resistance of 7004.
FTSE 100 has had a big push higher, want to see a retrace before entering a long. Once it peaks on the current spike look for retrace to around 0.382 Fibonacci for entry. I have set target at a new high of 7004.4 although there will likely be some resistance at the previous high so can also take profit there and re-enter on the retrace from there.
Eyes on UK100GBP when market opens, we crossed above 100 & 200 EMAs and closed the market in an attempt to break through 6620 resistance.
Price in the short term is in a bearish decline, while the medium to long term trend is bullish. Price has declined to a key area of previous resistance and potentially support on the Daily timeframe. Based on price action I believe this could be a key area where price could reverse to test previous broken support. I don't expect price to hit this target till next week.
UK100GBP 🇬🇧 looks quite bearish , though there might be a slight incline to test the smooth downtrend. If confirmed - short it!
Break of the uptrend line was strong with a good impulsive candle. Now at critical support near 6600 level. 200SMA is also at support. An impulsive break lower could signal momentum to get us to 6500 target. Risk-off this morning across the board. Some of it on news as China's surging COVID-19 cases trigger clampdowns. Good Luck and Stay Healthy!
UK stock index is retracing a little after the bit impulsion that we predicted in our previous Analysis. If you are not in open position you can buy One at the CMP and second buy limit will be 6550. If you like my idea just hit the LIKE button.