The overall trend is still lower - with a break above 7000 - 7150-200 could be the next zone of resistance to see selling back towards the lows
Hello Traders, FTSE short-term Elliott Wave view suggests that the rally to 7790.17 high ended blue wave (X) bounce. Down from there, blue wave (Y) remains in progress with instrument showing a lower low sequence. The internals of that leg lower is taking place as double correction lower due to overlapping price action happening from 7790.17 high thus suggesting...
If you wan't to make easy money in the financial markets, trade the FTSE100. Repeatable pattern over and over and over again. Tech stocks and FTSE100 are my top picks. Cheers :)
Some very quick analysis of the FTSE100 - Could we see a double top form at this level? If it does remain bullish we would need to see a retracement soon so this may be a great opportunity for a short term sell on this asset!
Alright, so the FTSE 100 shot down to significant lows. Brief Update on this, I really did think that the FTSE 100 would of gone to significant lows, the timing of this really done my head in. However all targets were met successfully so I guess you can't really rush a good trade!
My short-term bias is still bearish. I feel price will fall to at the least close the gap. I'm not confident this is a solid break of this short-term resistance as price has failed to take this level with any real conviction. Price is currently stalling at the 61.8 fib which I mapped out on the 1hr chart for this current retracement. self explanatory
Will the FTSE 100 collapse? No idea, the only thing we can do now is sit back and let the markets do the work. To be fair, GBP has been appreciating rapidly, are we currently in the exhaustive period? Are prices now start to decline? This obviously has to be taken into consideration when dealing with INDICES. I've got a few orders filled in. I'll update you guys!
Very good match to price/action earlier in the year. We are now at Jun 8th.
Looks like a good short from here. As always however, it depends on $GBPUSD.
FTSE 100 might well have topped out at 7565 recently and is about to start a leg down to the 7450 support area. Dow is about to hit 23k, while the S&P is struggling to break 2560.
Let me know what you think of this one. lower highs with the trend broken and bearish price action.. Lets go!
Prices may be moving higher but for as long as my pattern stays intact, i remain a bear
Currently a small flag is developing on the FTSE and I do believe there is more room for a correction however remains bearish in the larger picture.
Tracking this exhaustion leg like a hawk as we see inflation continue to cause problems in the UK, especially to companies with a lot of sterling exposure. Not hesitating to pull the trigger at all as the downside is wide open, as soon as we see BOE hike that will be game over... Carney starting to realise the ship has already sailed. GL
The Ftse 100 has been reacting to recent events like article 50 activation and is highly volatile. But the price is a new fan area so could represent a trend change, furthermore the price broke out of the ascending triangle, and now if the price closes below the 200 MA and the trendline - short.