UK100 (FTSE 100) is in a second leg of a correction to hit 6710 The UK100 could have finished the flat correction and now it is heading south.
The wave C blue could drop to the 6710 where C=A.
FTSE
FTSE - Forming a right shoulder?Trade Idea
Trading has been mixed and volatile.
The sequence for trading is lower lows and highs.
We have a 50% Fibonacci pullback level of 7374 from 7729 to 7020.
Negative overnight flows lead to an expectation of a weaker open this morning.
Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 7375, resulting in improved risk/reward.
Expect trading to remain mixed and volatile.
We look to Sell at 7375
Stop: 7425
Target 1: 7235
Target 2: 7170
FTSE updateResistance zone worked to add another long on the break or pullback, whichever you chose. Now we see rapid rise in FTSE this morning, additional long position can be taken if we wait for the pullback. Good Luck!
FTSE updateThe break happened by the book and going well. Now at small resistance zone, a pullback here would be welcome as we could add another long at the low of the pullback. Going to small time frames to see catch that low. This is the start of the B wave.
End of summer today so many traders and investors will be closing trades. Expected high volatility at the end of London session and New York session.
Good Luck!
FTSE100 SELL/BEARISHi don't believe this hype happened this morning. there aren't any actual positive prospects. I believe the bears will come and take over again.
Tesco - Bouncing from the 61.8% Fibonacci supportBUY – TESCO (TSCO)
Tesco PLC (Tesco) is a retail company. The Company is engaged in the business of Retailing and associated activities (Retail) and Retail banking and insurance services.
Fundamentals
It’s been a tough few months for Tesco shareholders with the shares having slumped over 13% from the 2019 high. The business has embarked on a massive overhaul over the past 5 years to make the operation a lot more efficient, which has put the company in a good position overall. The operating margin is continuing to rise, and management believe 4% is achievable in the short term. The company looks set to maintain its position in the market and continue to grow its earnings.
Best Broker Target Price: 285p (Deutsche Bank 19/06/2019)
Worst Broker Target Price: 230p (Goldman Sachs 02/04/2019)
Technical Analysis
2019 started off so well for Tesco share holders with the shares rising from 187p to 254p in the space of just over 4 months. The recent decline from those highs has not been so impressive, but some support appears to be forming around the 61.8% Fibonacci support level at 212.7p. There have been a number of bullish candle around this price, which is an indication that buyers are returning.
Recommendation: Buy
Buy between 215-225p
Stop: 210p
Target: 250p
Greggs - Buying the dipBUY – GREGGS (GRG)
Greggs plc is a United Kingdom-based bakery food on-the-go retailer. The Company's products and services consist of a range of fresh bakery goods, sandwiches and drinks in its shop.
Fundamentals
The success story of Greggs is quite remarkable with the shares rising significantly over a 5-year period. The baker recently delivered an ‘exceptional trading performance’, total sales were up 14.7% and like-for-like sales were up 10.5%. The introduction of vegan sausage rolls has been a massive success and no doubt brought new customers to stores across the country. The recent decline looks like a decent opportunity to buy.
Best Broker Target Price: 2300p (UBS 28/08/2019)
Worst Broker Target Price: 1780p (Berenberg Bank 16/05/2019)
Technical Analysis
The long-term chart of Greggs shows a spectacular uptrend. The recent dips from the highs of 2496p has been uncharacteristic and could present a fantastic opportunity to buy. Corrections are normal for share prices and following this recent bout of profit taking the shares now look more attractive. The close above the 10EMA on the 28th August 2019 could be a signal of bullish momentum returning. A move back to the highs to reassert the long-term trend is expected.
Recommendation: Buy
Buy between 2000-2100p
Stop: 1895p
Target: 2495p
FTSE updateWave analysis shows that we could be nearing the end of wave A. Very good support of 61.8% at the key 7000 level. Great opportunity for a long there as GBP sells off on the potential of Parliament being suspended in September-October.
Boris trying to get the government out of the way so that they can not interfere with his Brexit plans.
Also a downtrend line from August 12, respected and confirmed. If it break we could see it going into wave B from there to retest broken level around 7400.
Indicators going back close to oversold, adding more probability for a potential bounce.
Good Luck!
UK 100 SHORT down to 7000My idea on a short on the UK 100. Following recent news the UK economy will have a bleak outlook and will drop down near the major resistance of 6990.
FTSE 100 Short Trade *4hr TREND CONTINUATION*Simple trend continuation trade.
- Lower highs and now lower low
- Price rejecting 4hr 50ema
- Fib 0.618 retracement level
- Price rejecting 7200 price level
Looking for a new lower low and price to finally reach 7000.00
Howden Joinery - Throw the kitchen sink at it?Technical
Howden Joinery looks interesting on a technical basis. The shares shot higher to new highs following a bullish update to the market. We have since seen the share price unwind to some sensible levels as the overall market continues in this condolidaiton phase. The shares have reached a confluence of Fibonacci support levels, which I have highlighted on the chart. We have seen buying interest emerge and a gap higher in price to break out of a consolidation wedge. The overall trend remains bullish and a move to new highs is expected.
Fundamentals
The UK’s leading manufacturer and supplier of fitted kitchens, appliances and joinery products has been paying dividend yields of around 2.5%. Howden ended the reporting period with net cash of £217.1m, which makes its forward P/E multiples of around 14-15 look attractive.
Stop: 505p
Target: 600p
UK100, BREXIT,BEARISH WOLFE WAVE #RRR of 1:5 (AUTOLINES TEST4)HI BIG PLAYERS,
here I present a new Wolfe Wave in the UK100 chart.
This chart represent the 100 biggest share-companies of Great Britain. In any way we listen about the Brexit and the results of this decision is clear to understand for everbody. A big downtrend will build.
The Wolfe Wave pattern show a bearish incoming side. In addition, the reason for a bearish Wolfe Wave is the rebounce on Fibonacci line 1.382
Acutally the pattern give a Risk-Return-Ratio of 1:5, but this are a weekly chart and shows a longterm bearishtrade.
King regards
NXT2017
==============
MY PERSON:
I'm the second winner of the official German Forex Trading Conpetition in 2018.
Look here to the ranks:
deutsche-trading-meisterschaften.de
I speak german, english and russian.
My strength in trading are Wolfe Wave pattern.
FTSE 100 Short Trade *TRENDLINE BREAK & RETEST*FTSE100 is making some nice consolidation on the 1hr timeframe and is now breaking the lower TL.
I will wait for a clean break and then short on the retest and lower high. Targeting new lower lows at 7000
FTSE100 GBP hits the channel support | Upto 5.8% potentialAfter Jan 19 the priceline of FTSE100 GBP is hitting the support of up channel.
The price action has also support of 100MA and 200MA.
There is also a golden cross formation expected beneath the candle sticks which will produce a massive bullish divergence insha Allah.
I have used Fibonacci sequence for sell targets as below:
Sell between: 650.3 to 669.2
Regards,
Atif Akbar (moon333)
FTSE 2 hour ideaSimilar to my Dax idea just posted, a lot of world equities are bouncing...remember central banks can still cut rates and do QE/stimulus which means there will be nowhere to go for yield except the stock markets. The party might not just be over yet.
Similar description to the FTSE as with the DAX, a prolonged downtrend and basing at a support zone. We had a wedge and broke above the resistance zone and even the previous lower high swing.
7375 zone is a flip zone you should watch and then 7575 above.
FTSE100 OVERVALUED - BULL TRAP - SHORT ITThe FTSE100 index is selling at a P/E of 17.2. This is quite high in a low interest rate, low growth scenario. The UK is in a mess, with Brexit problems, neighboring countries teetering on recession and Boris taking over the leadership. A DCF valuation of the FTSE100 using 3.2% growth, 8.6% discount rate it shows the index is 11% overvalued. I think the German DAX and US markets are going to tank soon, don't be fooled by the cut in interest rates in the US. The ECB can't really cut rates much more with low or negative rates already in Europe. Negative rates are a desperate attempt to inflate a sagging economy, European markets are ripe for a fall. The FTSE100 has jumped up a bit lately, this is a bull trap above the downward sloping trendline. The technicals are hinting at a coming fall. If you do short, I'd prefer to short the DAX as it has a lot foreign trade exposure with its auto industries. However, for those watching the FTSE100 index, a short now could be a winner.
Weekly update for GBPUSD, Brexit is at the doorThose who have been following the latest Pound trades will know we are already on the sell-side here.
Here is the latest wave count on the weekly chart, we are playing the range set between 50.0% - 76.4% of the retracement leg since the January 2016.
Dollar strength is coming via yields so we have large money on the move here, the leg will be fast and furious.
Please leave a like and check out the other trades on the Tradingview portfolio.
Thanks and good luck!
UK100 - Remains under pressureOANDA:UK100GBP FX:UK100
UK100 - Intraday - We look to Sell at 7500 (stop at 7525)
The previous day's bearish engulfing candle led to further selling yesterday. Previous support level of 7475 broken. The overnight dip has been bought into and there is scope for further bullish pressure going into this morning. The reaction higher is positive, however, we view this as an opportunity to set shorts in line with the overall bearish move lower. Further selling is expected to follow with the hourly Ichimoku cloud and our bespoke resistance (7500) offering incentive.
Our profit targets will be 7425 and 7400
Resistance: 7500 / 7525 / 7540
Support: 7460 / 7425 / 7400
FTSE 100 - Long We are currently long the FTSE 100 which has dropped over the past day on the back of Boris Johnson's appointment and the subsequent strengthening of the pound. The pound strengthened as the market hopes that initial comments by Michel Barnier the European Union's Chief Negotiator would open the door to positive negotiations between the UK and the EU. However, we believe that with the UK set to leave the EU on the 31st of October there will be pressure on sterling in particularly GBP/USD which would be positive for the FTSE100 as a large proportion of profits for FTSE 100 companies are made in dollars. Therefore we are long and will look to add to our long position just above the 7298 Fibonacci level with a view towards starting to take profit above 7700.
UKX FTSE100 1hr rejection from 7600FTSE 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.
183.6p 1st target - Strong support - bullish divergence lowBB's Quite bullish here even though I don't hold any shares.
Very interesting chart
Bullish divergence & bottom of BB's & price seems to be settling.
FTSE - Missed it again?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)!
FTSE - Stalled just in front of our entry level. Good enough?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 7465.
Negative overnight flows lead to an expectation of a weaker open this morning.
As this corrective sequence continues we look to set longs on a dip at better risk/reward levels.
Further upside is expected although we prefer to set longs at our bespoke support levels at 7465, resulting in improved risk/reward.
We look to Buy at 7465
Stop: 7425
Target 1: 7545
Target 2: 7600
