FTSE100 Fell more than 7% from the recent highs from 7700 without any retracement. We can expect this whole move to retrace at least 38% from the bottom towards 7400.
We can go long on this if FTSE gets above 7200 after stock market open. Stops 6990 target 200pts
This is the Ftse 100 index with a simple trend line on the monthly chart.
I have placed an arrow to show where the market actually made a monthly candle close below the trend line but has since gone on to recapture it.
FTSE continues to oscillate sideways since the beginning of July around the lower main trendline
but below the 78% fib retrace.
This pair of trendlines is anchored with a strong PP and accurate touch points.
There is a gap which may be filled early next week and I will be watching for a break of the
red trendline to signify a more concentrated fall.
Good Luck
Uk100 broke wave 4 from an ending diagonal within a ZigZag correction pattern we anticipate that it will visit 7617 then 7747.9
if the price breaks 7487.3 level then the scinario will be invalidated .
FTSE finally completed intermediate wave (2) black one wave higher than my previous posts.
Minor wave 1 blue is nearing completion and I have zoomed in to the 15 minute timescale
to check a more difficult EW structure.
If correct the current bounce is minor wave 4 blue taking the form of a FLAT
which should complete soon.
Minor wave 5 blue may take FTSE down to...
FTSE 100 has rejected 7600-7590 area in the 1hr time frame, 3 consecutive times suggesting that a correction is possible.
If FTSE100 breaks below 7550 (23% fib level) we can see a correction upto 60% Fib levels at 7440-7430 levels.
But FTSE needs to break below 7550 to trigger this trade.
Stops should be above the recent highs.
My previous FTSE idea was voided and instead FTSE rallied to the 76.8% fib of the previous high with
a DZZ W,X,Y correction.
Looking again at the daily chart FTSE retreated from the 76.8%fib on momentum divergence which may
signal a change in direction is imminent.
Look for a break of the lower red trendline to confirm.
Good Luck
Sharing my thoughts and observations on UKX. After seeing the "Elliot Wave"-ish pattern form (it is not a true Elliot Wave as Wave 3-4 overlaps into Wave 1-2) I think that retracement back to Fibo 50% of wave 4-5 is complete. Internal divergence @RSI observed between point 5 and X makes me believe that we will see a change in the micro trend to continue its macro...
Trade idea
The index had broken below its short-term tentative upside support line. This could be seen as a potential sign for further declines. That said, before we start looking further south, we need to see a clear break below the highlighted area. For now, we remain cautiously-bearish and wait for a confirmation break.
Please see the chart for levels,...
Trade idea
This is a quick shout-out. The chart is self-explanatory. Let's see if the price can rebound from the upside line again.
Please see the chart for levels, targets and the alternative scenario.
Don't forget your stop-loss.
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 our...
FTSE followed my predicted path from June 6th and slightly overshot my target area on strong bearish divergence.
This was an expanded flat wave with a very clear C impulse wave.
If correct FTSE will now start intermediate wave (3) down to the target areas highlighted.
Good Luck
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...
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)
