UK100 - Intraday - We look to Buy at 7525 (stop at 7495) Previous support located at 7525. Previous resistance located at 7600. Broken out of the channel formation to the upside. Risk/Reward would be poor to call a buy from current levels. A move through 7600 will confirm the bullish momentum. Our profit targets will be 7605 and 7635 Resistance: 7600 /...
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The FTSE100 index (FTSE100) has resumed its bullish trend since the October 13 bottom after hitting both the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line) on December 20. In fact, against all odds during this inflation crisis and in contrast to its heavy stock index counterparts, it is about to close the year in gains (if it stays above the 7420 level...
Uncertainty of trade relations with the EU dealt a big blow to investment and business, which in the third quarter was 8% below pre-pandemic levels. Although, the trade deal between the UK and the EU has been ongoing for two years. The UK's decision to leave the European Union, known as Brexit, has had a major impact on the UK economy. Brexit has been a drag on...
Truedge traders believe that price action is the best approach to trading because it allows them to interpret market movements and make decisions based on the raw price data. Indicators can add unnecessary complexity to the trading and may even produce misleading signals. OANDA:UK100GBP
UK100 - Intraday - We look to Buy at 7460 (stop at 7412) Previous support located at 7450. Previous resistance located at 7550. Further upside is expected although we prefer to set longs at our bespoke support levels at 7450, resulting in improved risk/reward. A move through 7550 will confirm the bullish momentum. Our profit targets will be 7570 and 7600...
Cycle from 10.13.2022 low in FTSE ended at 7600.11 on 12.1.2022 as wave (1). Subdivision of wave (1) unfolded as a 5 waves impulse structure. Up from 10.13.2020 low, wave 1 ended at 7017.4 and pullback in wave 2 ended at 6864.13. The Index extends higher again in wave 3 towards 7498.34, and pullback in wave 4 ended at 7420. Final leg wave 5 ended at 7599.70 which...
UK100 - Intraday - We look to Sell at 7425 (stop at 7500) Previous support located at 7300. Previous resistance located at 7400. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 7425, resulting in improved risk/reward. A move through 7300 will confirm the bearish momentum. Our profit targets will be 7250 and...
An interesting setup may have formed on the FTSE 100 daily chart. It has seen a strong rally from its October low and since produced a relatively shallow pullback from the 7600 resistance zone. The RSI (2) was oversold on Thursday and curled higher on Friday, which closed the day with a Spinning Top Doji candle to suggest a swing ow has formed. Furthermore, the...
Taking a look at the UK100 FTSE at the moment. In the video we look at key support and resistance levels, the trend, and discuss a possible trade opportunity. As always everything, explained in the video, and not to be construed as financial advice.
Entry at 7570 Stop Loss at 7490. Targets - 7650, 7730, 7810 Remember, risk 1-2% of your account and VAMOS!!
The index has retested the upper trend line of the falling flag, after the breakout. I anticipate that the index will continue with the bullish momentum since the client sentiment indicate that there are more than 70% of the traders are bearish, a major indication that the price might move reversal of that. My entry point is 7570, my targets are 7650, 7700, and...
$FTSE - Where to next? Longer term. Here's a look of what could happen with the ftse going forward. Technical view: Got a stocks and share ISA? Take advantage of the great price points. As we are getting towards end of the year adjusting portfolio and to seek out further long term positioning. One specific instrument I have been looking at is the FTSE - Any...
Reverse Cup and Handle has formed on the FTSE100 7 >21 >200 - Bullish Target 7,890 Also we have the medium term downtrend broken up for the first time and so bullish momentum is kicking in.
Hello guys. According to the higher timeframe of this index (1D), the trend is forming a falling flag, which might be a strong indicator of a bullish momentum. According to the lower timeframe(1H), there is a formation of a falling flag, which has been completed and the index has broken out of the trend forming a bear trap. I anticipate that the price might...
Short term Elliott Wave View in FTSE suggests the rally from 10.13.2022 low is unfolding as a 5 waves impulse Elliott Wave structure. Up from 10.13.2022 low, wave 1 ended at 7093.05 and pullback in wave 2 ended at 6997.54. Index then resumed higher in wave 3 towards 7413.82 while pullback in wave 4 ended at 7294.15. Wave 5 is currently in progress with internal...
Market shocks and drawdowns are designed to shake you out. Charts are pointing to continual asset inflation this decade. #DOWJONES to $64,000 was a general target I had in mind a few years ago. NOW we have confirmation this could indeed play out over the coming 5-7 years #FTSE100 to break 10,000 and indeed we have a target of over 12,000 #DAX to...
UK100 - 10h expiry- We look to Buy at 7201 (stop at 7139) Previous support located at 7250. Previous resistance located at 7300. A lower correction is expected. Risk/Reward would be poor to call a buy from current levels. A move through 7300 will confirm the bullish momentum. Our profit targets will be 7349 and 7399 Resistance: 7300 / 7350 /...