The move lower got even closer to our entry point than it did yesterday (see related idea). We may have missed the entry again. Still keen on buying dips (for now)!
DAY TRADE - EXPIRES AT 9PM We were looking for a dip to buy today but the market appears to have stalled in front of our entry level. Is this good enough reason to get long? Overall we remain bullish. Trade Idea The overnight rally has been sold into and there is scope for further bearish pressure going into this morning. Bespoke support is located at...
Last post: June 18th 2019. See chart . Review: Price had just broken a resistance level. Update: Another resistance level was broken with a strong breakout. Conclusion: Price looks strong and we eventually want to see a break of the previous all-time high. Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share...
Last post: June 12th 2019. See chart . Review: Price was around the daily 50 simple moving average. Update: We have seen a nice move up today, breaking above a previous high. Conclusion: The FTSE 100 is looking strong and we would like to see it break above the next resistance level. Any comments or questions, do not hesitate to leave them below. Give us...
Last post: May 13th 2019. See chart . Review: Price was heading towards the support level shown in the last post. Update: Moves have been made to the upside. Conclusion: Price is still in consolidation but has shown strength recently which we want to see continue and see further moves to the upside. Any comments or questions, do not hesitate to leave them...
Hello my dear readers, here we would like to take a look at two different scenarios FTSE 100 Index Chart (UKX). Let's start with the bearish scenario because this is the one that is in play right now... Feel free to hit like to show your support. Looking at the chart above, we can notice a huge descending channel (bold brown dashed line) and we have two rising...
*Please support this idea with a LIKE if it helps you. Thanks! More details about me in my signature. FTSE100 - Elliott Wave Outlook Bearish Swings - Patterns: Flat Structure in Cycle Wave IV (green) Primary A (turquoise) - Simple Correction Primary B (turquoise) - Complex Flat Primary C (turquoise) - Bearish Extension Bullish Swings - Patterns: Leading...
If breaks down, PO at 6770 $EWU, $FTSE, $UKX, $GBPUSD
Short term Elliott Wave view in FTSE calls the move lower to 7150.9 on May 13 as wave A. This suggests that the move lower from April 23 is unfolding as a zigzag Elliott Wave structure. Wave B bounce is currently in progress to correct cycle from April 23 high before the Index turns lower. Internal of wave B is unfolding as another zigzag Elliott Wave structure in...
Last post: May 7th 2019. See chart . Review: Price was showing short-term weakness and was at the daily 50 simple moving average . Update: Since then price has shown further weakness and is approaching a strong monthly support level. Conclusion: We need to see how price reacts to this support level. A break through support and we may see further weakness. A...
The shape of the FTSE100 chart in 2018 bear similarities with that of 2015. The top is more rounded than SPX. The turmoil over the forthcoming Brexit execution on Mar 29, 2019 makes this a less attractive market than other non-US indices. Note that the fractal predicts a low of 3896, almost exactly 50% down from the top. This compares well with the 53% drop in...
*Please support this idea with a LIKE if it helps you. Thanks! More details about me in my signature. FTSE100 has been labeled within a Grand Super-Cycle degree wave IV (blue), which has been unfolding ever since the Dot-Com bubble. Structure - Expanding Flat Formation 2000 peaks and down until 2003 bottoms - Super-Cycle wave (a) (red) 2003 bottoms up until...
My forecast using the 2019 trend for FTSE 100 UKX BULLISH TO 7700
Last post: April 3rd 2019. See chart . Review: Price was trading comfortably above the daily 200 simple moving average. Update: Price has continued to look strong making higher highs and higher low. Conclusion: We want price to continue to advance higher and eventually break the previous all-time high. Any comments or questions, do not hesitate to leave...
Elliott Wave view on FTSE calls the rally from February 28, 2019 low (7041) as an impulse Elliott Wave structure. An impulse is a 5 waves structure with wave 1, 3, and 5 all subdivide in 5 waves of lesser degree. Up from 7041 low, wave 1 ended at 7370.6 and wave 2 ended at 7146.29 and Wave 3 ended at 7477 peak. Up from 7146.29, wave ((i)) ended at 7222.64, wave...
Last post: March 18th 2019. See chart . Review: Price had just broken through the daily 200 simple moving average and we were waiting to see whether price would remain above it. Update: Price did move below the daily 200 simple moving average but has since moved back above it and is looking strong. Conclusion: We want price to continue to create higher highs...
Correlation with pound in positive phase $GBPUSD, $UK100
Last post: December 6th 2018. See chart . Review: Price was looking bearish after breaking through the strong support level. Update: The bias is now bullish as price is currently trading back above the daily 200 simple moving average. Conclusion: As long as the bullish momentum continues, the UK stock market is likely to form a lot of bullish trends which we...