Trade ideas
FTSE, Breaking lower? UK100 / 1D
hello traders, welcome back to another market breakdown.
FTSE has been reversing down from the All time high, the price probably has finished the pull-back phase, I'll be looking to feed the next leg lower on any spike up.
Trade safely,
Trader Leo
FTSE Elliott Wave Analysis for Thursday 22/06/2023The FTSE is moving again. We see a potential long trade for today (against the higher timeframe direction).
UK100 - Short by High Low Pivot & 2EMAs 06/21/2023* Daily timeframe: New low
* Current timeframe:
1- Short trend when Swing Low (1) & EMA 21 under EMA 50.
2- Swing Low(2) is continue & High still under Swing Low (1).
3- Opens a Sell with Stoploss at Highest price (Swing High) between Swing Low (1) & Swing Low (2) (Rule to find Stoploss).
a/ Moving stoploss when occurs Swing Low(3), Swing Low(4)(5)...
b/ Wait to retest previous swing low if ratio of Reward > Risk (>1).
FTSE 100 on Decline, Reacting to News about Inflation in the UKCPI (Consumer Price Index) was 8.7% in annual terms (8.4% — forecast, 8.7% last month).
Core CPI (excluding prices for food, energy, tobacco and alcohol) rose to 7.1% in annual terms (6.8% — forecast, 6.8% last month). This is the highest core inflation since 1992.
News of persistently high inflation may have an impact on the decision of the Bank of England on the value of the interest rate, it will be known tomorrow at 14:00 GMT+3. Recall that in the fight against inflation over the past 18 months, the Bank of England raised the rate from 0.1% to 4.5%. A further increase in the rate, according to CNBC, is fraught with the development of a mortgage crisis.
The chart of the FTSE 100 stock index shows negative dynamics. Today, the price of the FTSE 100 fell sharply to the psychological level of 7,500. Note that this happened after testing the level of 7,680, which previously served as support, and now resists the growth of the FTSE 100 index. Perhaps, in conditions of increased volatility against the background of tomorrow's meeting of the Bank of England, the bears will take a new attack on the psychological level 7,500. If successful, the price of the FTSE 100 may drop to the lower line of the descending channel (shown in red).
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FTSE Elliott Wave Analysis for Wednesday 21/06/2023The FTSE is moving again. Depending on what the market gives us, we see a potential long trade for today (against the higher timeframe direction).
Short UK100 19 Jun'23Risk control was there, a bit of FOMO on the entry
Trap was perhaps too small or needed to be cognizant of bigger trap prints. This reduced confidence in the trade
Location made sense
Flow made sense
UK100UK100 is trading in long term bearish trend. Currently the price is retracing a bit but just about to face a long term declining trendline from Fib golden ratio. Will these confluences push the price to lower side again?
FTSE Elliott Wave Analysis for Monday 20/06/2023The FTSE is refusing to move. We advise traders not to touch it. Let's just wait for better price data.
FTSE Opens with Bearish Bias: Potential for New Bearish ImpulseToday, the FTSE kicked off the market with a bearish bias, as indicated by its opening. After retracing and testing the previous resistance area near 7680, the value of the FTSE appears to have encountered resistance from a dynamic trendline within a broader bearish downtrend. This suggests the possibility of a new bearish impulse taking hold today. It will be interesting to observe how this index performs in the coming days as market conditions unfold.
FTSE Elliott Wave Analysis for Monday 19/06/2023The FTSE is refusing to move. We advise traders not to touch it. Let's just wait for better price data.
Head and shoulderLikely breakout and pull-back retest right shoulder. Wait for confirmation looking long test previous high
FTSE Elliott Wave Analysis Higher Timeframe (17/06/2023)A pullback in the higher timeframe seems likely. We have 5 waves up as an impulse in the weekly and daily. However, as divergence in the weekly is not really outspoken, a new high is still possible. Investors should wait for the pullback to buy. Traders should analyze the lower timeframe.
UK100 Possible BuyShould we break above 7654.8 price level it's a good buy but right now we failed to break the trendline. When we break the neckline and trendline make sure the 4h and 1d candles closes above the 7654.8 price level.
Long UK100 16 Jun'23Risk control was weaker; FOMO and playing a LTF setup
Risk management during the trade was good
Trap was there on the 3m
Location was acceptable but with lower margin of safety
Liquidity flow alignment was there which goes to show that many imperfect setups work so long as one trades with the overall flow; there was alignment in the HTF and clear signs of rollover without opposing reversal (although that aspect was not explicitly considered during the trade)
