UK100 - A Big Test AboveIt's been a highly volatile period in the markets, with equities coming under severe pressure as a result of high inflation, the Russian invasion of Ukraine, and the sanctions against it that followed.
The UK100 has shown more resilience than its European peers during that time, in part as a result of the UK having fewer trade ties - particularly oil and gas - and due to the weight of commodity stocks within the index. Soaring commodity prices are naturally beneficial for those companies, which has to an extent shielded them during the declines.
Of course, they haven't been entirely immune, particularly those with direct exposure to Russia. The weakness in the pound may have also helped given how much revenue from FTSE 100 companies is generated outside of the UK.
That said, the index has still fallen into correction territory during that time and below the 200/233-day SMA band. After seeing support around 6,800 we have seen a partial reversal of those losses, buoyed by talks between Ukraine and Russia which both sides suggest are making positive progress.
It is now running into resistance in a very interesting area on the chart. The 50% Fibonacci retracement - February highs to March lows - falls around the 200/233-day SMA band which is now being tested as resistance, having previously been support. A rejection of this level could be a very bearish signal while a break above here could be quite the opposite.
Ultimately, this is a very headline-driven market and volatility is expected to persist. If we do see a move above, 7,335-7,400 is the next big test, with the 61.8 fib, 55/89-day SMA band and prior resistance combining. A failure at the 50 fib could see attention shift back to 7,000 - a major psychological barrier, prior support and resistance, and roughly the mid-point of the recent lows and highs.
FTSE
FTSE 100 - Continuing the slide lowerThe UKX ran above Jan 19 2022 highs only to reject, breaking the Feb 4 2022 low, initiating a market structure shift on the daily timeframe. Price continued to decline with Feb 24 being an extreme down day due to the events transpiring in Ukraine. I am looking for a retrace to 7280 -7360 before price continues to the down-side with Target 1 reaching for 7100, Target 2 reaching for 7000-6950 and the third and final target at 6800.
FTSE 100 (UKX) | The best target for correction🎯Hello traders, FTSE 100 (UKX) in daily timeframe , this analysis has been prepared in daily timeframe but has been published for a better view in 2 day timeframe.
It should be said that this symbol has entered a new phase and this is a descending phase.
But in the definition of the previous trend, three waves are formed in a zigzag pattern, the last wave of which, the c wave, is explained.
This c-wave formed its leading waves in the form of a channel and in the shape of a triangle, and we said that this structure is completed when the purple trend line and the bottom of our channels are broken down, and this happened.
Now, based on our count, we have formed five waves, which we recognize as wave 1 or wave a, depending on the continuation of the process.
We are now waiting for the correction of this wave, which is confirmed by breaking the trend line and the green circle, and then continues to make a wave as small as the current wave.
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FTSE Down But At SupportLast week we witnessed a 6.78% decline in the FTSE 100 and just a few hours into
this week, price has already declined 2.81%.
The major support of the daily 200 simple moving average failed to hold price up
last week so we must look at further levels of support.
Since May 2021 a low was formed at 6823 and has held strong ever since. There was
an attempt to break this level in July and September 2021, but they both failed.
Price has hit this level this morning and appears to be holding for now.
If there is strong buying at this point, it should be enough to push price back to the
upside, but for now, we just need to stand aside and see which direction price heads next.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
UKX | FTSE 100 (Additional 15% Drop)- The falling wedge is broken.
- Break below EMA50.
CRITICAL SUPPORT at EMA100/MA200 or 6959-6984.
If this support breaks, the 15% drop mapped on this chart becomes inevitable.
These markets close on weekends which means that this week we will have the worst close in years.
Nothing new here...
It is the same as with the SPX (S&P 500 Index), DJI (Dow Jones Industrial Average), NDX (Nasdaq), etc.
(Check Related Trade Ideas below this post.)
It is all going to crash BUT, it will recover after the crash.
Consider it a "financial detox".
Namaste.
FTSE FCPO Palm Crude Oil Futures #FCPO #FCPO1!Palm Crude Oil Futures FCPO short-term still looking bullish.
Profit Chip of PFT indicator at 38%, if surpass 50% greater chance to reach upper trend line resistance @5500
Bull Bear Energy (BBD) indicator show Dark Green bar turning into Light Green (momentum turns weak) - short term correction on way.
#fcpo #fcpo1! #bursasaham #palmoilfutures #commodities #tradingfutures #ftseklci
#technicalanalysis #technicalindicator #technicalchart #mcdx #bbd #trendline #chartpattern
Disclaimer:
This published Idea is solely for the purpose of opinion sharing only, and should not be used as investment advice or recommendation to buy or sell any security.
Get your trade advise from a legit broker, your trade is solely your own responsibility.
Thank you.
UK 100 CORRECTION AND VWAP BOUNCE, GOOD R:R SHORT OPPORTUNITYThe risk off is continue. USD very strong while indeces drops in previous session. Incoming rate hike.
UK100 VWAP BREAK SHORT OPPORTUNITY, GOOD R:RMarket are reacting to the persistence/implications of inflationary pressures which are still building. With the rise oil price and 10Y above 1.80%. This will create Risk-Off today for Indeces.
FTSE 100 Approaching All-Time HighThe FTSE 100 has been gaining ground recently, with a 2.95% move for January 2022 alone.
December was up 4.62%, so there is clear momentum right now.
This brings a nice change from the sideways movement we had between May - October 2021.
Following the all-time high created on May 2018 at 7903, price declined, gaining momentum
during the peak covid pandemic in February and March 2020.
A low was formed at 4898, with an overall decline of 37%. Since then price has climbed 54%,
with over 300 points to go before it reaches the all-time high.
We can expect to see a good number of stocks showing signs of bullishness now that the FTSE
is looking strong again and these stocks will be presented in our weekly newsletter.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
UK100 - From Strength to StrengthThe UK100 has been going from strength to strength in recent weeks, relatively undeterred by the wobble in broader stock markets over the last week or so as it eyes January 2020 highs above.
It's already back in pre-pandemic territory and the momentum indicators on both the daily and 4-hour charts continue to look healthy. That may suggest resistance around 7,560 is looking a little vulnerable, with the next big test above coming around 7,700.
Ultimately, the ability to achieve these levels will depend on risk appetite remaining strong in the markets which, as mentioned, hasn't really been the case recently.
Higher inflation and interest rates pose a risk to the global economy and the markets, while recent strength in the pound could begin to weigh given the historic negative correlation between the two.
But for now, the trend looks strong. Any sign of divergence on approach to 7,700 - should we get that far - will be interesting given how big a level of resistance it is and could signal a corrective move.
FTSE 100 (UKX) | The best places to start a downtrend📍Hello traders, FTSE 100 (UKX) in daily timeframe , this analysis has been prepared in daily timeframe but has been published for a better view in 2 day timeframe.
All of these counts correspond to a b wave at a higher time.
This wave b is formed in the form of a zigzag and from this zigzag the waves a and b are finished and the wave c is being formed.
The c-wave consists of microwaves 1, 2, 3, and 4 in the form of a channel or triangle, and we assume that the 5-wave microwave is at the end of its motion process.
Either it ends in the same range after the formation of the other two waves, or it completes after hitting the upper side of the channel and the fall starts from that area.
The descent will be confirmed when the canal floor and red circle are broken.
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FTSE100 Sell & Buy SetupThere are two setups on this chart:
1. Buy Setup
We expect the price to pull back to the Supply Zone where we are looking to sell and take profit at the next Demand Zone.
2. Buy Setup
If setup 1 plays out as expected and the price return to the demand zone (setup 1 target), we will buy at the level and take some profit at 7481.6 area. I personally will be holding some of the position in case the price still wants to continue going up.
Feel free to ask any question and I will do my best to answer.
FTSE Another Leg Lower is Expected To Take PlaceShort-term Elliott wave view in FTSE suggests that the rally to 7404.31 high ended wave ((1)). Down from there, the index is doing a pullback in wave ((2)) to correct the cycle from the 10/28/2020 low before the upside resume. The internals of that pullback is unfolding as Elliott wave zigzag structure where initial decline to 7198.76 low ended wave 1. Then wave 2 ended at 7311.94 high, wave 3 ended at 7044.3 low. Wave 4 bounce ended at 7161.91 high and wave 5 ended at 6989.66 low thus ended the first leg in wave (A).
Up from there, the index made a short-term bounce in wave (B). The internals of that bounce also unfolded as a lesser degree zigzag structure where wave A ended at 7182.01 high. Wave B ended at 7083.21 low and wave C ended at 7378.92 high. Near-term, as far as bounces fail below 7378.92 high and more importantly below 7404.31 high the index is now expected to start the (C) leg lower. And expected to see more downside towards 6966.22- 6710.86 100%-161.8% Fibonacci extension area of (A)-(B). From there, the next leg higher is expected to take place or should produce a 3 wave bounce at least. Alternatively, if it breaks higher then the index might have done a running flat correction from the August peak.
$FTSE Can Rise One More Time To Fall - Important Key To MarketsTraders, FTSE (UK100) completed a huge bearish W pattern which gave us the level 7339. (See the attached idea). It missed the an important pre-covid level where we have a gap left. Last time it came very close and fell down for an initial reaction to create a bear trap. Now it will most probably try again to close that gap up and collect few stop losses around the FCP zone. This can be very good opportunity to short FTSE100 market for longer term.
US30 (Dow Jones), US500 (SNP500) and NASDAQ (NAS100) all have been closing their past gaps. US30 has few left close to all time high. As these gaps are closed on the high side, only bottoms ones will remain. FTSE is one of them. Having said that, do not take gap in to your trading strategy as gaps may take years and decades to fill.
Trade what you see and keep the risk management tight.
Rules:
1. Never trade too much
2. Never trade without a confirmation
3. Never rely on signals, do your own analysis and research too
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-Vik
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The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only.
Not a financial advice or signal. Please make your own independent investment decisions.
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UK 100 PlanDon't forget to click the follow button to get detailed daily analysis,
Here we have our UK 100 (FTSE) chart.
This is an asset I trade daily.
With the current news sentiment we have seen a fast and sharp move down followed by a swift rebound. we are at Key MA's and some good support.
We are looking to get long again. TGT area is noted by the Blue arrow on the chart.
Elliott Wave View: Rally in FTSE Expected to FailShort-term Elliott wave view in FTSE suggests cycle from September 20, 2021 low has ended with wave (1) at 7403.36. The Index is currently correcting that cycle within wave (2). Internal subdivision of wave (2) is unfolding as a zigzag Elliott Wave structure. Down from wave (1), wave ((i)) ended at 7342.61 and rally in wave ((ii)) ended at 7370.01. Index resumes lower in wave ((iii)) towards 7241.99 and bounce in wave ((iv)) ended at 7289.51. Final leg lower wave ((v)) ended at 7198.76 and this completed wave A.
Rally in wave B is in progress to correct cycle from November 12, 2021 high. Internal subdivision of the rally is unfolding as another zigzag in lesser degree. Up from wave A, wave ((a)) ended at 7307.89 and pullback in wave ((b)) ended at 7245.98. Near term, expect the Index to extend higher in wave ((c)) towards 100%-123.6% extension area at 7355.55 – 7381.47 . This should complete wave B in higher degree before the Index turns lower. As far as pivot at 7403.36 high remains intact, expect the rally to fail in 3, 7, or 11 swing for further downside in wave C.