I try to avoid gap/weekend risk as you never know how Monday could open however, for the aggressive trader, this opportunity may be of interest.
A weaker Pound was unable to support the FTSE 100 in the last 3 sessions, mostly likely because the index is comprised cyclical stocks such as financials and resources. At the time of writing the index is down by 0.96%...
Hello all
This one has been a year and change in the making, however it's time, the FTSE is about to drop to 4000
If the weekly candle closes bearish as an engulfing candle as well, it'll drop fast.
After the initial leg lower, it reach the 61.8% retrace, now on a retest of that area, it's creating divergence and is overbought.
With risk of inflation on the...
UK100 has touched the top of an uptrend channel and has already reversed towards the bottom of this channel around 7000. RSI is in the overbought region too to support this.
Good Luck!
Pattern: Channel Up on 4H.
Signal: Buy as the price is rising following a (near) Higher Low on the pattern.
Target: 7120 (the 1.382 Fibonacci extension).
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Traders, UK100 (FTSE 100) has been one of the best indices to trade in recent weeks and months as it has given us several opportunities both long and short side. But the bias has always been towards the long for path few months. Now that it has hit 7000 level, it has started to show some correction and this can continue to fdew lower levels as shown in the chart...
