UK100 Bullish SeptemberDaily chart of UK100 is expected to Break up weekly resistance and trendline to follow a Bullish September Seasonal behaviour. Take Long positions after retest and new orderblock formation
Dow theory HHs HLs: Bullish
Candlestick Pattern : Bullish forming three soldiers
Support &Resistance: Orange line formed on Weekly chark
Trendline: Resistance approaching expected to breakup
Fibonacci: Bullish Touched 50% on daily
Seasonals: Bullish
Divergence: Bullish on 4hr
Pattern: Bullish Penant on Daily
UK100 trade ideas
FTSE Elliott Wave Analysis for Monday 11/09/2023 (+ Higher TF)For traders (lower timeframe):
The primary expectation is now that we will go back into the wave X area to take out the previous high. That would mean we get an additional correction up as a wave X. This move should be followed by further downside as a wave Y.
For investors (higher timeframe):
In the higher timeframe, investors should wait till the higher degree WXY correction is finished. It is still early but we are approaching the first relevant areas.
Decoding FTSE 100: Key Levels RevealedFTSE 100 Technical Outlook
This week's FTSE price action illustrates traders' sensitivity to interest rate expectations on both sides of the Atlantic.
On Tuesday, the FTSE experienced a post-bank holiday rebound, driven by weaker U.S. job numbers that were perceived to alleviate pressure on the Fed to raise interest rates further. Notably, Tuesday's rally resulted in the FTSE breaking and closing above the descending trendline formed by the lower swing highs from earlier this month.
However, the rally lost momentum when it encountered a short-term resistance zone around 7,500, mainly due to stronger-than-expected European inflation data that raised the likelihood of the ECB maintaining higher interest rates for a longer period.
Wednesday's reversal now presents a short-term resistance area that traders can monitor as we approach this afternoon's U.S. non-farm payrolls data.
A second failure at Wednesday's high would be bearish, potentially setting the stage for a decline toward the 7,200 support level (see chart below). Conversely, a decisive breakthrough above Wednesday's high might pave the way for an extended rally towards 7,625.
FTSE 100 Daily Candle Chart:
Support
S1 = 7,227
S2 = 7,204
S3 = 6,825
Resistance
R1 = 7,509
R2 = 7,625
R3 = 7,724
Risk management:
US non-farm payrolls is an event which has the potential to cause outsized market volatility.
Support and resistance levels should be used as a guide and are not guaranteed to hold.
Disclaimer: This is for information and learning purposes only. The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.
FTSE Buy signalThe FTSE 100 Index (UK100) is consolidating on the 1D MA50 (blue trend-line) for the 5th straight day. This is the first pause to the uptrend that started on the August 18 bottom, right on the 6-month Support Zone.
With the 1D RSI still not close to the overbought barrier and the 1D MACD on a Bullish Cross, this is the last bullish signal towards the Lower Highs trend-line. Our target is 7690, just below the Resistance Zone.
-------------------------------------------------------------------------------
** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! **
-------------------------------------------------------------------------------
💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇
Bullish Daily Index Trading Analysis: FTSE vs. US Tech100To enhance the FTSE forecast and vary the wording, you could say:
"In the longer-term perspective, it's advisable for investors to exercise patience and wait for the upcoming retracement before considering new buying opportunities. We are approaching key support/resistance levels, which will play a pivotal role in our trading decisions."
Decoding FTSE 100: Key Levels RevealedFTSE 100 Technical Outlook
This week's FTSE price action illustrates traders' sensitivity to interest rate expectations on both sides of the Atlantic.
On Tuesday, the FTSE experienced a post-bank holiday rebound, driven by weaker U.S. job numbers that were perceived to alleviate pressure on the Fed to raise interest rates further. Notably, Tuesday's rally resulted in the FTSE breaking and closing above the descending trendline formed by the lower swing highs from earlier this month.
However, the rally lost momentum when it encountered a short-term resistance zone around 7,500, mainly due to stronger-than-expected European inflation data that raised the likelihood of the ECB maintaining higher interest rates for a longer period.
Wednesday's reversal now presents a short-term resistance area that traders can monitor as we approach this afternoon's U.S. non-farm payrolls data.
A second failure at Wednesday's high would be bearish, potentially setting the stage for a decline toward the 7,200 support level (see chart below). Conversely, a decisive breakthrough above Wednesday's high might pave the way for an extended rally towards 7,625.
FTSE 100 Daily Candle Chart:
Support
S1 = 7,227
S2 = 7,204
S3 = 6,825
Resistance
R1 = 7,509
R2 = 7,625
R3 = 7,724
Risk management:
US non-farm payrolls is an event which has the potential to cause outsized market volatility.
Support and resistance levels should be used as a guide and are not guaranteed to hold.
Disclaimer: This is for information and learning purposes only. The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.
SHORT TERM BULLISH ON UK100xwe are looking at a possible short-term bullish trend on the UK 100 index because it found its retest at the FVG level of the year at 7251.22 and successfully broke through and retested at a key demand level and has formed a double bottom pattern on said key demand level at 7461.48
Elliott Wave View: FTSE Rally Expected to Turn LowerFTSE Index shows a bearish sequence from 4.21.2023 high favoring further downside. The decline from 4.21.2023 high is currently unfolding as a double three Elliott Wave structure. Down from 4.21.2023 high, wave (W) ended at 7229.57 and rally in wave (X) ended at 7725.65. The Index has resumed lower in wave (Y). The internal subdivision of wave (Y) is unfolding as another double three in lesser degree. Down from wave (X), wave ((a)) ended at 7437.88 and rally in wave ((b)) ended at 7622.92. The third leg lower wave ((c)) ended at 7215.76 which completed wave W in higher degree.
Wave X rally is now in progress as a double three. Up from wave W, wave ((w)) ended at 7386.08 and pullback in wave ((x)) ended at 7326.48. Expect wave ((y)) to extend higher towards 7493.79 – 7598.57 area and this should complete wave X in higher degree. Afterwards, Index should turn lower in wave Y. Potential target lower is 100% – 161.8% Fibonacci extension from 2.16.2023 high towards 6560 – 7086.2. Near term, as far as pivot at 7725.65 high stays intact, expect rally to fail in 3, 7, or 11 swing for further downside.