Now that this index has retested the resistance zone, I am anticipating that this price will have a bearish momentum.
My entry point is 7480, SL at 7540 and TP at 7240. My R:R for this trade is 1:4
Remember, risk 1-2 % of your account.
The index is at a major resistance zone, which has been retested several times, making it weak. Now, the big question is, will it break the zone and complete the rising flag?
Let us wait and see...
The FTSE is giving us very corrective and sideways price action. It is difficult to come up with a reliable forecast. The sideways price action fits in a bullish as well as a bearish scenario.
UK100 - Intraday
Indecisive price action has resulted in sideways congestion on the intraday chart.
Risk/Reward would be poor to call a buy from current levels.
Short term RSI has turned positive.
A move through 7425 will confirm the bullish momentum.
The measured move target is 7525.
We look to Buy at 7365 (stop at 7315)
Our profit targets will be 7485...
In the reported financial update, the FTSE 100 index experienced a slight decline of 0.11% to close at 7,401.72 on Wednesday. This drop was primarily driven by weaknesses in the financial and mining sectors but was partially offset by robust results in the retail sector. Notable companies such as National Grid, BP, Shell, Anglo American, and Fresnillo contributed...
The FTSE is giving us very corrective and sideways price action. It is difficult to come up with a reliable forecast. The sideways price action fits in a bullish as well as a bearish scenario.
The FTSE is giving us very corrective and sideways price action. It is difficult to come up with a reliable forecast. The sideways price action fits in a bullish as well as a bearish scenario.
Most indexes are looking to be short right now, this Index is overbought and has multiple tops with divergence. There is no pattern on this trade, but this is with the trend so it should fall to the bottom and bounce back up. Stop loss is 50 pips and the aim is around 10.
FTSE100 D1
Buy some came into play late last week, following the latest stock dump, we have since started to bounce following an upside gap, pushing as much as 1.7R, but sat at a current 1.3R.
Eyes on FTSE100, we may see a second attempt bounce from that 7265 support price. It's going to be a busy week, I can't stress that enough, with all the risk events,...
The FTSE 100 Index (UK100) delivered a strong short-term buy signal last time we looked at it (see chart below):
The index has been since rejected twice on the Lower Highs trend-line of what is almost a year long Descending Triangle. We will wait for a test of the Support Zone, ideally when the 1D RSI tests its Higher Lows trend-line and buy for the...
The higher timeframe gives us two equally valid scenarios. On the lower timeframe, it looks like wave X is finished and that we are working on wave Y as an ABC up.
The higher timeframe gives us two equally valid scenarios. On the lower timeframe, it looks like wave X is finished and that we are working on wave Y as an ABC up.
The higher timeframe gives us two equally valid scenarios. On the lower timeframe, it looks like wave X is finished and that we are working on wave Y as an ABC up.
The higher timeframe gives us two equally valid scenarios. On the lower timeframe, it looks like wave X is finished and that we are working on wave Y as an ABC up.
The higher timeframe gives us two equally valid scenarios. On the lower timeframe, it looks like wave X is finished and that we are working on wave Y as an ABC up.
UK100 is rising towards an overlap resistance and could potentially reverse off this level to drop lower.
Sell entry is at 7551.55 which is an overlap resistance that aligns close to the 50.0% Fibonacci retracement level.
Stop loss is at 7592.01 which is a level that sits above the 61.8% Fibonacci retracement level.
Take profit is at 7465.61 which is a pullback...
