UK100 had a huge bullish run and we are now witnessing the exhaustion phase. We have come up to test around the previous high, the majority will be looking to sell from here but I would like to see one last push up before we see selling pressure.
UK100 OPEN TRADE IF FOLLOWING TREND BASED ON 1% RISK IS RUNNING + 10.4%
OUR STRATEGY EXPLAINED:
The entry price, SL and multiple TPs are shown on the chart.
Our back testing and money management strategy itself is holding until a reverse signal to ride a big trend, but as you will not see the next signal - manage the trade as you wish should you decide to...
The FTSE100 has been trading in a downward channel since June, the daily timeframe shows price is weakening approaching the top of this channel and has given us an indecision candle. We can see on lower timeframes, 1h + 4h there is RSI divergence signalling potential for a bearish move. Will look for entry on 1h
I think now is a good time to add an extra short position to FTSE100. I am still short from 6312 and 6300 and looking for new lows to be made.
TP1 = 5800 support zone
TP2 = 5725 (bearish trend to continue)
I believe UK stocks and the FTSE index in particular is due another bearish wave now. Price is in the perfect region for another lower high to form and selling to begin once more.
Using the fibonacci retracement tool on the 4hr/daily price waves there is the 0.786 level above to act as resistance. Price is in the region of the daily 50EMA with longer term bearish...
We don't like standing still, so now I am keen to launch our strategy for stocks and indices.
Same ideas as our FX one and we have optimised settings for the below pairs.
There aren't meant to be shortcuts in this game, so we created them instead.
Please see the link to strategy script in related ideas too.
FTSE100 Weighted by various components, as well as that there was news that few companies from FTSE100 index will be removed and replaced.
However, let's focus on technical aspects:
We are within a range bound area for a while! Could look at it like bullish flag or a wedge/Triangle pattern (Be careful of fake break out). Which ever way this index breaks - I...
A big move today for Cineworld.
I checked lse.co.uk this morning and saw the daily % gain, guess what - our strategy had already signalled the buy.
This is a very powerful tool for investing or cfd trading stocks too.
Rejected purple dotted line 6320, has respect the rule of the “trend line” and has tested and gone short after breaking through. I see a short to 6200 where they’ll be a retrace and continuation back down or turn bullish and retest 6320.
Trade at your own risk.