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FTSE 100 Index

UKX Hourly - Higher high following successful bounce off supportHigher highs and higher lows are in place following a successful bounce off lateral support. Still favouring a long bias with a full target of 7050ish and SL of 6890. I am expecting some resistance around 6965 (NB NB) - I will be monitoring closely for any potential reversal. Through this crucial point, one can look to add to their longs, but a reversal here will see me swing to a short position. Updates to follow as we progress
TVC:UKXLong
by gillyblore
FTSE 100 Edging Towards 7000The FTSE 100 has failed to break and close above the February 2018 low at 6536 for a number of months now. You can see the December 2020 candle and the candles for January and February 2021 traded above this level but ended the month by closing below this level. With one more trading day of the month left to go, we may well finally see that close above 6536 and if this is achieved then we should continue to see bullish moves in UK stocks. Although the move up has been rather sluggish, price has gained good ground following the 22% decline we experienced in February and March 2020 at the peak of the global pandemic. In March 2020 price continued down and found support around the 5000 round number before moving back to the upside. With a bullish end to this month’s candle, the next level of resistance is 7000 and following that we have the all-time high at 7903, which is the May 2018 high. We will be able to get a better perspective of price action once the candle for March closes and decide on which opportunities we want to take positions in. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:UKXLong
by Sublime_Trading
GBPUSD - More downside to go?!GBPUSD - Technical view: More downside to go?! Technical View: Support: 1.36830, 1.36050, 1.35310, 1.35000 Resistance:1.37930, 1.39515, 1.40455, 1.41570 Pattern: Wedge/Pennant - Broken to downside, Blue line measuring length. Bears are in control if we get a break below support area of: 1.36570 Bulls are in control if we get a break above resistance area of: 1.38670 (200EMA Above) Overall, we are currently in between ranges of: 1.36570 (S) - 1.37930 (R) break to either direction for further clarification perhaps a trade for next week to consider. Keep in mind End of months flows & Keep an eye on Monthly closes. Fundamental: Overall, not much impact regarding calendar front apart from NFP on Friday next week. This week we had DXY rising and as majors decline! Finally broke out of the ranges we were in. We aren't seeing reflation trade this week. Market seeking a safe haven aspects. - 3rd Wave in EU & USA - Rising calls for concerns - Politics in US - Infrastructure spending 3trillions with be a high cost on cooperate tax rate heading higher - April equities, usually best month of of the yr. (Seasonality) - Commodity FX pairs - Weakening may continue as dollar strengthens - UK Vaccination is going well. However Astra vaccine has been told to provide Europe further with the vaccinations - First stages of the unlocking eases on Monday in UK - We've even got great weather for the week as well! 🌞 - NFP Next week - Great for scalp. UK Reminder: Clocks go forward Key tips: Don't try make your P&L on Friday - Trade what you see, not what you think! Have a great weekend. Trade Journal (Just a trade idea, not a recommendation)
by Trade_Journal
$UKX Hourly - Backtesting channel break We are currently testing Friday's channel break. Good RR levels to go long for those who currently don't have a position. Nice gap at 6780 I would like to see filled, as well as the full target of the bull flag and inverse H&S of 6870. We have seen some month end selling during the previous few months which is something to keep an eye on and more reason to keep stops tighter. On the other hand, this month may be different given it is tax year end in the UK. Summary: Long with a tight stop
TVC:UKXLong
by gillyblore
VUKE Daily - Breaking higher but testing NB lateral resistanceI started scaling back in and increasing my weighting around 29 (green box) in the hope we would get the break higher we seeing now. Yesterday we saw the VHYL ETF be the first to break higher and VUKE appears to be following suit. Red lateral resistance is quite significant and I wouldn't be too surprised to see the ETF pause a bit at this level, consolidate, before powering higher. I have been adding and trimming continuously to this position (see comments on prior chart). I am happy to take profit on 25% of my holding here (given the resistance), and will look to re-add
LSE:VUKE
by gillyblore