FTSE Elliott Wave Analysis for Tuesday 30/05/2023Trading day preparation. We discuss several scenarios that could play out. We define an area where to go short. We also see a potential long trade but we need more data to confirm.
UK100 trade ideas
FTSE Elliott Wave Analysis for Sunday 28/05/2023A pullback in the higher timeframe seems likely. We have 5 waves up as an impulse in the weekly, daily, and 4h timeframe. However, as divergence in the weekly is not really outspoken, a new high is still possible. Investors should wait for the pullback to buy. Traders should analyze the lower timeframe.
FTSE Elliott Wave Analysis for Friday 26/05/2023Trading day preparation. We discuss several scenarios that could play out. We define an area to go short but we need more data in order to confirm.
FTSE100 Double Buy short-term and long-term break-out.The FTSE 100 Index (UK100) has broken below its 1D MA50 (blue trend-line) and is approaching the 1D MA200 (orange trend-line), which is the first short-term Support. The medium-term is the 1W MA100 (red trend-line) and those two are our buy entries for a 7800 Target. This is just under the Lower Highs trend-line from the All Time High (February 16 2023).
The 1D RSI is close to the 30.00 oversold barrier and past price action in March 2023 and October 2022 shows that the 2nd break below it, is a Buy Signal. The pattern overall with the Lower Lows in Support and inner Lower Highs, resembles that of December 2021 - May 2022 (so far).
As a result, we are only willing to take a long-term buy, if a 1D candle closes above the inner Lower Highs trend-line. In this case we will target 8200. The potential extension towards the end of the year can even be as high as the 1.382 Fibonacci extension (8350) which was where the February 16 2023 High was priced.
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FTSE Elliott Wave Analysis for Thursday 25/05/2023Trading day preparation. We discuss several scenarios that could play out. We define an area to go long and an area to go short but we need more data in order to confirm.
#FTSE100 #UK100 To Test Pivotal Equality ObjectiveIn this update we review the recent price action in the FTSE100 and identify the next high probability trading opportunity and price objectives to target
FTSE Drops Rapidly to April Lows TodayThe FTSE 100 index is rapidly declining on Wednesday morning amid news of another spike in inflation. The Core CPI (excluding energy, food and tobacco prices) reached 6.8%, the highest in over 30 years. Market participants are now almost certain that the Bank of England will raise interest rates at its next meeting.
The UK100 chart (a tool that reflects the dynamics of the FTSE 100 index) shows a consistent series of bull failures around psychologically significant levels:
1→ UK100 price failed to settle above 8,000 in February;
2→ UK100 price did not fix above 7,900 in April;
3 → level 7,800 used to be support but is now resisting.
The action of the UK100 price today suggests that the level of 7,700 may now also provide resistance in an attempt to increase. If the downtrend strengthens, the FTSE may continue to decline within the channel (shown in blue), reaching its median line (or even the lower border — which would mean a 2023 low).
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FTSE Elliott Wave Analysis for Wednesday 24/05/2023Trading day preparation. We discuss several scenarios that could play out. The FTSE is giving us a messy structure for the moment. It is hard to see potential entries for a trade. We define an area to go long and an area to go short but we need more data in order to confirm.
FTSE Elliott Wave Analysis for Tuesdday 23/05/2023Trading day preparation. Although pullback is expected in the higher timeframe, we can see some more upside in the lower timeframe. We discuss several scenarios that could play out. We define an area where to go short.
FTSE Elliott Wave Analysis for Monday 22/05/2023Trading day preparation. Although pullback is expected in the higher timeframe, we can see some more upside in the lower timeframe. We discuss several scenarios that could play out.
FTSE Elliott Wave Analysis for Sunday 21/05/2023A pullback in the higher timeframe seems likely. We have 5 waves up as an impulse in the weekly, daily, and 4h timeframe. However, as divergence in the weekly is not really outspoken, a new high is still possible. Investors should wait for the pullback to buy. Traders should analyze the lower timeframe.
FTSE H4 Trade Levels In PlayIn the is update we review the recent price action in the #FTSE and identify the next high probability trade locations and price objectives to target
FTSE Elliott Wave Analysis for Wednesday 17/05/2023Trading day preparation. Although pullback is expected in the higher timeframe, we can see some more upside in the lower timeframe. We discuss several scenarios that could play out.
UKX-Ftse ?
Previous.
Had been a rebound area.
For certainty in trading.
IDK and I don't move the market/index.
I just look at history and try to make sense of entry/by sentiment.
You are a master in trading when you master your R:R.
Try not to trust 100% in any idea.. and pause / ponder the idea if it make sense to risk it.
Thou shall not risk all in one trade.
All the best
FTSE Elliott Wave Analysis for Tuesday 16/05/2023Trading day preparation. Although pullback is expected in the higher timeframe, we can see some more upside in the lower timeframe. We discuss several scenarios that could play out. We see two ways to enter a trade.
FTSE Elliott Wave Analysis for Monday 15/05/2023Trading day preparation. Although pullback is expected in the higher timeframe, we can see some upside today in the lower timeframe. We discuss several scenarios that could play out. We see three ways to enter a trade.
FTSE Elliott Wave Analysis for Sunday 14/05/2023A pullback in the higher timeframe seems likely. We have 5 waves up as an impulse in the weekly, daily, and 4h timeframe. However, as divergence in the weekly is not really outspoken, a new high is still possible. Investors should wait for the pullback to buy. Traders should analyze the lower timeframe.
FTSE UK 100 Short CallFTSE100 printed inverse cup and handle pattern. As US dollar index seems to be bullish and FTSE UK100 seems bearish We can take short position after breakout point with projection price of 7650.00
UK100:FTSE Rebounds on Double Bottom and Positive UK GDP Data
The FTSE has shown signs of a potential price increase after a Double Bottom pattern and Divergence were identified on the 4-hour timeframe. This movement is likely to continue in the direction of the current trend. The recent growth in value can be attributed to positive data from the UK, which showed a 0.1% increase in quarterly GDP in Q1. In addition, both Industrial Production and Manufacturing Production expanded by 0.7% in March.
UK100 Short Term Sell IdeaD1 - Bearish convergence followed by a pullback,
Bearish hidden divergence.
Price is bouncing lower from a strong resistance zone.
No opposite signs.
H4 - Bearish trend pattern.
Currently it looks like a pullback is happening.
Until the two strong resistance zones hold my short term view remains bearish here.
FTSE: About to give a strong longterm buy signalFTSE100 has been trading inside a Channel Up since the October 13th 2022 bottom, currently pulling back after a rejection on the internal LH trendline. This has turned the 1D timeframe neutral (RSI = 48.285, MACD = 4.950, ADX = 49.378) and with the price on the 1D MA50, those are the conditions for a buy.
The Buy signal trigger however would be the index crossing over the LH trendline, as it did on a similar pattern on November 10th 2022. We will buy either on that trigger or on the 1D MA200. In both cases TP = 8,250.
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