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FTSE

TESCO - BUYING THE CORRECTION Nice chart, i have been waiting for Tesco share price to drop finally below 170 for some weeks, so i can start pick up some longs. I am seeing good potential on this stock for a possible bull move above 220, but it will take some time. The correction might come to an end in the coming weeks. The alternative scenario would be that price breaks down, and bears push it to 100. 150 should not be broken. Please use proper risk management, make your own analysis and dont overrisk on one trade. Blessings to you all.
LSE:TSCOLong
by IamJeanPaul
UK100 LONG PROJECT - 2 in 1Good day (and night :-)), All! Major bullish green wave and supporting its formation minor yellow WW are currently taking shape and will most likely be formed within the next day. Normally, I wouldn't trade such a wave alone, but with the support of lesser yellow one it's worth of giving it a shot. I would like to underline that major green pattern can't (!) be considered to be a standard WW as I'm ignoring the spike which is forming minor yellow wave (point 2). I chose such a form in order to keep the shape of green wave according to (more or less) classic pattern and as it also fits the minor WW. The yellow wave is correct and can viewed as a valid formation completely on its own. The targets of both waves are located pretty close to each other. However, I would expect the price to re-test previous resistance in 736x-737x area before reversal and if so, confirming (incorrect, but working) green major pattern. Good luck and great trading!
OANDA:UK100GBPLong
by OceanBlue
ASCL - Possible longLooking at a possible long on ASCL. We saw strong rejection from just above the 300 area which coincides with the 200ma. Financials look good. The only concern I have is the move up was on weak volume, could be a bull trap so ideally I want to see a further move up on high volume. The perfect scenario would be another drop to 310 area where we could see a bounce. Volume is key for me in these sorts of trades as I want to see that demand from buyers. No position yet, I will update this post if/when I take a position. Stay tuned!
A
by FollowMyTrades
FTSE finding the floorIdea: This week I have been working on flipping time on my strategy to see how the time taken to complete a trade is effected. I have been working on reducing my time frame from 4hr charts to 15min charts. Entry will be on a small time frame chart and exit on a larger one. The exit will rely on a time target instead of measuring the previous trend and predicting the profit with RSI. Pros: If I can time the exit it will make managing the trade less work intensive & give me more time to look for new trade opportunities in a large variety of other instruments. Cons: The trade has a time limit instead of a profit goal. The p&l is unpredictable at the entry of the trade. I am going to set a 7:1 as a goal and track how it progresses. DISCLAIMER: This is where I practice ideas and work on my trading techniques. Please note I am only providing my own trading information for insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal. Trade at your own risk.
TVC:UKXLong
by fionnablack
1
Broke below a trading channel - 1.26 next? The UK elections are coming and GBPUSD is starting to feel the pressure. GBPUSD broke below a daily channel and closed below the Fast daily MA line last week. As long as GBPUSD stays below 1.3 the direction is down (in my opinion). The next Major Buy Zone for GBPUSD is 1.26 and that can be the level in which GBPUSD will turn back higher and climb towards the completion of a bearish harmonic pattern - 1.33. If GBPUSD will climb and close above 1.3, the chances that it'll reach 1.33 before the next bearish wave will increase dramatically. It all comes down to the Elections results. It is going to be choppy this week so be careful. Read more about GBPUSD and the UK elections in my newsletter. Visit the website and check out the Weekly Markets Analysis Or look for #WeeklyMarketsAnalysis on Twitter
by themarketzone
UK FTSE100 coming under pressureThe anticipated pullback is unfolding, with the UK FTSE100 Index falling sharply to the 7093.57 low of February. A short-term bounce is possible, as oversold daily studies unwind. Weakening momentum studies and the bearish Tension Indicator (not shown) should limit scope. In the coming weeks, further downside tests are looked for, as investors adopt a cautious stance. A break below 7093.57 will target psychological support at 7000 and the 6972.20 Fibonacci retracement. Still lower is the 6860 Fibonacci retracement. Resistance is lowered to the 7255.78 break level from 27 March, and should cap any immediate bounce as investor sentiment weakens. If broken, however, focus will turn back to critical resistance at the 7447 high of March. An unexpected break above here would delay lower levels, but should find difficulty clearing the 7500/11 barrier as background readings also begin to turn down. The full report, covering the US, UK, Germany, Europe, Japan, Hong Kong and China indexes can be found at our website.
TVC:UKX
by Michael_Macdonald-XATSUK