FTSE100 UKX Long Trader / OpportunityFTSE100 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
UK100 CFD
UK100/GBP Could aim higherThe UK100/GBP pair has been appreciating in an ascending channel pattern since the beginning of June. The pair reversed north from the lower boundary of the channel pattern at 7088.8 on June 3.
The 200-hour simple moving average was providing support for the pair at 7481.0 during the morning hours of today's trading session, while the 50– and 100-hour SMAs were providing resistance at 7539.1.
Most likely, The UK 100 index could continue its upward swing during next week's trading sessions. The potential target for bullish traders would be near the weekly R2 at 7640.2.
However, the resistance cluster formed by the 50– and 100-hour SMAs might provide resistance for the pair in the nearest future.
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.
FTSE100 TO RALLY INTO DAILY HIGHSFTSE100 has recently tested a key demand zone and formed bullish price action.
We can expect this market to continue higher with targets being the daily highs.
The price is also supported by the 20 and 50 EMA pointing upwards with price rejecting
the key demand zone and the 20EMA.
UK100 // DAX30 - LIVE TRADING - STAY TUNED FOR THE UPDATES Pay attention to the updates section as I will be posting when I will be entering my trade.
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The analysis is made based on order flow using Volume Profile + EW.
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FTSE - Buying dips to trend supportTrade Idea
The medium term bias remains bullish.
Bespoke support is located at 7470.
We look for a re-test of the upward trending support.
There is scope for mild selling at the open but losses should be limited.
Preferred trade is to buy on dips.
We look to Buy at 7470
Stop: 7440
Target 1: 7560
Target 2: 7650
Trade ideas & daily market report July 9th 2019
Market highlights
Reduced expectations of aggressive Fed easing continued to support the US currency during Monday, although ranges were narrow.
Equity markets lost ground as expectations of aggressive Fed rate cuts declined further.
Demand for the yen and Swiss franc weakened slightly as US bond yields edged higher with the Euro also unable to make headway.
Gold prices also declined as bond yields increased and the dollar maintained a firm tone.
Oil prices gained some support from Iran tensions, but failed to hold gains.
Commodity currencies were unable to make headway amid a solid US currency tone with Sterling also losing ground.
Bitcoin pushed above $12,000 which helped trigger further buying.
FTSE - Buying a move lower to supportTrade Idea
We have a Gap open at 7567 from 05/07/2019 to 07/07/2019.
Bespoke support is located at 7470.
We look for a re-test of the upward trending support.
There is scope for mild selling at the open but losses should be limited.
Preferred trade is to buy on dips.
We look to Buy at 7470
Stop: 7440
Target 1: 7560
Target 2: 7650
Daily market report July 8th 2019
Market highlights
Headline June US employment data beat consensus forecasts with an increase of 224,000 in non-farm payrolls, although other data was slightly weaker than expected.
Bond yields recovered sharply following the data on a shift in Fed expectations, although there was a partial reversal on Monday amid fragile risk conditions.
Equities declined in Asia on Monday amid reduced expectations of aggressive Fed rate cuts
The dollar advanced strongly following the employment release, although it failed to hold its best levels.
The Canadian dollar also pared initial losses from a headline dip in June employment with commodity currencies also recovering some losses.
Gold declined sharply on dollar gains with a dip below $1,400 per ounce before a tentative recovery amid weaker equity markets.
Oil prices were supported by reduced fears over global demand conditions.
FTSE - Buying dips towards trend supportTrade Idea
Prices are extending higher from the bullish flag/pennant formation.
Positive overnight flows lead to an expectation of a firm open this morning.
Bespoke support is located at 7530.
The continuation higher in prices through resistance has been impressive with strong momentum and shows no signs of slowing.
Preferred trade is to buy on dips.
We look to Buy at 7530
Stop: 7500
Target 1: 7630
Target 2: 7700
FTSE 100 - Awaiting a corrective move to get longTrade Idea
Prices are extending higher from the bullish flag/pennant formation.
Positive overnight flows lead to an expectation of a firm open this morning.
Bespoke support is located at 7530.
The continuation higher in prices through resistance has been impressive with strong momentum and shows no signs of slowing.
Preferred trade is to buy on dips.
We look to Buy at 7530
Stop: 7500
Target 1: 7630
Target 2: 7700
It’s a US holiday today so expect quieter markets today.
UK Recession - Has it already begun??? - FOOTSIE100I don't usually do this, but I wanted to start tracking the footsie100. I am going to keep it short and sweet for now because I don't want to get assassinated by the UK government LOL.
From where I stand, the recession is in full swing. Look at the first cross of the 30-day VWMA over the 90-day VWMA on the 31st August and look at the potential cross again at our present day. At our highest price of the year on 23rd April, you can see this is a lower high. With the VWMA forming what could be another cross I don't know how there is going to be an improvement to the current outlook.
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Remember indicies are a collection of many stocks. If this index hits lower prices, share values will decrease, and companies will be struggling to raise capital from our sources.
let me know your thoughts on this one
"Patience is the key to any market" - Nathaniel.
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Regards
Nathaniel - "The value Trader"
Little Big Movement / IONIC Capital
FTSE100 - Indices Trading | Elliott Wave Structures | Q2 2019*Please support this idea with a LIKE if it helps you. Thanks!
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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 Diagonal in Intermediate (A) (blue)
Next expected swing:
Bearish sequence in Intermediate (B) (blue)
Structure change:
Breach of the lower trend-line could lead towards Intermediate (B) (blue) already in play.
UK 100 to SELLMarket has been on a downtrend following a break in channel, as observed in the trend line.
Retest to the upside has occurred.
Market dropped below trend indicator before and after retest.
Expecting further drop from here as we are in a downtrend.
Scalp/day/swing trade market to the downside.
Pick your entry point wisely.
DISCLAIMER;
Trading carries risks, ideas are for guideline purposes only.
Do set stop losses when trading & be generous with how much room allowed for candle wicks.
There is also the possibility to hedge yourself, for more confident traders.
All comments and questions welcome, if curious about indicators I use then feel free to inquire.