➖ Back in May 2018 the UKX produced a peak that led to a major crash a few years later, this was the All-Time High at the time.
➖ The ATH came in May 2018 followed by a long-term lower high January 2020.
➖ The lower high January 2020 signaled the start of the biggest corrective crash since 2008.
We have a similar situation when it comes to price action and chart...
UK100 Share Index Rises as UK Inflation Slows
Yesterday, the UK Office for National Statistics (ONS) reported that the CPI stood at 3.2% in March. According to ForexFactory, analysts expected 3.1%, and a month ago the index was 3.4%.
Grant Fitzner, chief economist at the ONS, said: “Once again, food prices were the main reason for the fall, with prices rising...
@ price 7959.7 it is where I'm targeting to place a short, coz we are going to have a third touch at that highs trendlins & point 7959.7 when changing the candle sticks to ( Bars). You'll see that's where we have more opens buys at the very same zone.
1. Double top all time resistance high
2. Daily Break of Structure (BOS)
3. H4 50 & 100 EMA Crossover potential (i.e. turning down)
4. Price action retest of EMAs crossover
UK Inflation readings just came in and the UK govt is raving about it. Well needed gratification is in order due to the current dire political situation (we won't talk politics)..
Their promise was to halve inflation and their positive sentiment/rhetoric along with US news yesterday is creating bullish atmosphere within the UK main Stock Market, the FTSE 100.
I...
Having broken through long-term resistance and come within touching distance of the February 2023 highs, the FTSE took a pause for breath last week pulling back from recent highs.
Pullbacks provide excellent opportunities for traders to position themselves within established trends at attractive levels of risk/reward, and the FTSE’s recent pullback has put trend...
As described before
one of the worst index's to have been exposed to for decades
WHILST during rampant #UK inflation
The FTSE did nothing to help you out.
Yet here we are about to see it get sent to 5 figures.
As I see it, as long as we stay above 7600-7700 a pump to 8k is a lot more likely as there's evidently buyers in the market keeping the FTSE floating, where as a break below will send this south (7400 or lower).
Although UK-100 Index Is Near All-time Highs, UK Economy Slips into Recession
Technically, a national economic recession is defined as two consecutive quarters of contraction, and yesterday's Office for National Statistics data confirmed that this has happened — UK GDP fell in the third and fourth quarters of 2023 by 0.1% and 0.3% respectively.
The Guardian...
This chart is a clear display of how markets work in simple terms.
The fact is, your job is to look for repetition. Repetition directly correlates to probability, as it is your bread and butter for understanding what is next,
That is also, simply, the point of price action.
So when something happens so many times.. Do not be surprised if it happens again. And...
Earlier this month, we discussed subtle cues indicating the FTSE 100's readiness to break out. Fast forward three weeks, and the index has decisively broken free from its long-term range, surging over 150 points post the US Federal Reserve's reaffirmation of its rate-cut plans.
FTSE 100 Daily Candle Chart
Past performance is not a reliable indicator of...
An overview of all the pairs I am looking at for this trading week. Full breakdown in the video with analysis and explanations of what I will be waiting for before executing in the markets.
