Trade Alert
FTSE100 is picking up the pace again and is trying to make its way higher again. The current set-up is slightly on the bullish side. The index is breaking above its key resistance level, at around 7355 barrier. If this 4 candle closes above that barrier, we will aim slightly higher.
Please see the chart for levels, targets and the alternative...
Hi all
After shorting it on the initial down move, after the retrace, it has hit support and made an engulfing bearish candle on the 4 hour.
I now do expect it to head lower again, in turn gold to go higher and Yen pairs to go lower.
It is cycling lower nicely and an I think indices could be in trouble over the net few week.
Thanks for looking....
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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...
There might be a chance that Tom McClellan's Eurodollar Indicator is telling some people something ... QED1! Commercials Positioning with a certain shift fitted perfectly to Stock Marker and FEF Fund Rate lows... But of course it's different this time .
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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...
Updating my last UKX idea.
It looks like the first wave of intermediate wave (3) black is complete with an a,b,c in a clear channel
Momentum has turned bearish and after a brief push back to the lower channel line a break below
7285 would signal a likely sharp fall.
Good Luck
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...
Seeing a simple trend of shorting but only for a little while 1-3 at the longest for trading.
Going long soon back to 7400 perhaps, at least should be on the way by end of week.
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...
Daily bottom . its sink or swim
after forming a double daily bottom in the 7190
zone we are at the crossroads of swiming or sinking
some intersecting GBP political data due this week , may hold an answer and buoy this or kill it
FTSE completed intermediate wave (2) black and is now in the early stages of wave (3)
Minor wave 1 blue is nearing completion and after the current minute 4th wave ends at around 7290
my target is the 76.8fib level of the previous impulse at 7179 area.
Good Luck.
2018 ended the year in the UKX on a down trend, a doji formed to start the year but I tend not to trade during the first week of January, the up trend started with a few pullbacks, mean reversion, but it would appear as if the line has now been broken. My idea is to wait for confirmation that trend has changed to possibly short the market
Last post: April 24th 2019. See chart.
Review: Price was trading comfortably above the daily 200 simple moving average and looked bullish.
Update: Since then price has shown weakness and currently sits on the 50 simple moving average.
Conclusion: We want to see if the support area holds and pushes price back up.
Any comments or questions, do not hesitate...
The UK Financial Times Stock Exchange 100, more commonly known as the FTSE 100 or 'Footsie', is an index of share prices of the largest 100 companies listed on the London Stock Exchange (LSE) by market capitalization. The index was launched on January 3, 1984 at a base value of 1000, and the index level is calculated in real-time. The FTSE 100 represents approximately 81% of the entire market capitalization of the LSE, and even though it doesn't encompass the whole market, it is widely viewed as the best indicator of the heath of UK stocks. In recent years, however, given the uptick in international companies counted in the FTSE 100, this particular market index is no longer viewed as the best health indicator of the UK economy - that goes to the FTSE 250, which has a smaller proportion of multinationals among its constituents.
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UKX (Derived Data)
