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FTSE

🥊The FTSE is sitting on major support, will it break down?🥊I have drew an easy to understand technical chart of the FTSE 100, highlighting the major support and resistance areas from March to July, using a daily chart (each bar is 1 day of trading on the FTSE100). We can see that the 5,000 area acted as major support level in March, on 4 days wicks broke the 5k level but closed above (that tell us this is a huge support area). FTSE bounced from the 5k area to break the 6,000 area on its second attempt, and since has been ranging between 6,500-6,000 area. You’ll notice these support and resistance numbers are very well rounded (5k, 6k, 6.5k), bigger support levels on larger time-frames are often connected to psychological levels, because everyone investing/trading is watching these levels and it's why they work so well. Moment on the RSI is below 50 and is fading, during the high in June it did not break the 70 level which is a little worrying, I read it as buyers not believing in the rally with more downside to come in the coming weeks. We ended the week at 6,095 and bounced nicely off 6k support. What happens next? If we break the 6,000 level head lower, this leads to a path to re-test the 5k level. For a breakdown to happen I would want to see 4-5 days in a row that the FTSE closes below 6k. It can very well close 1-2 days below 6k and the next day break up and crush shorts (known as a bear trap). If we do break this level I’ll be looking to add to my positions on the stocks I think are going to benefit in a potential rescission/depression/stagflation environment listed on the FTSE100. For the FTSE to show signs of strength, it first needs to take out the minor resistance level at 6,350~ level, before taking another run at the 6,500 level. Until there is a CLEAN break of the 6,000 level downwards or the 6,500 range upwards, the FTSE is consolidating in a range, it’s up to buyers and sellers to decide the road it takes next. If you like my chart feel free to give my charts a follow :).
TVC:UKX
by BangkokCharts
Elliott Wave View: FTSE Resumes CorrectionFTSE 15 minutes chart below shows that the index has ended the cycle from June 25 low at 6303.40 high as a double three Elliott Wave Structure. Up from June 25 low, wave ((w)) ended at 6262.13 high. Wave ((x)) dip ended at 6087.70 low. The pair then extended higher in wave ((y)), which ended at 6303.40 high. This completed wave 2 in higher degree. The Index has since declined lower from that high. Down from wave 2 high, the index ended wave ((i)) at 6152.88 low. The internal subdivision of wave ((i)) unfolded as 5 waves impulse Elliott Wave Structure. The bounce in wave ((ii)) then ended at 6208.43 high. Wave ((iii)) is currently in progress. Down from wave ((ii)), wave (i) of ((iii)) ended at 6144.52 low and wave (ii) bounce ended at 6134.37 high. Wave (iii) is currently in progress and could see another low before a bounce in wave (iv) can be seen. While below 6303.40 high, expect the bounce in 3,7, or 11 swings to fail for more downside. The downside target for FTSE would be the equal leg area from June 8 high at 5647-5780.
TVC:UKX
by Elliottwave-Forecast
🤔Can Boris & Rishi save the FTSE? Here's when to go long/shortThe biggest level on the FTSE100 charts is the 6,000 support, on the 4 hour, daily and weekly level this is an area of support. What does it mean if support is shown on a number of time-frames? It means everyone trading the FTSE100 has the 6k level on their charts, it's also a psychological level. The 6k level was tested 3 times in June, each time bouncing back, most likely trapping shorts who entered trades too early. The 6,500 level is weekly resistance, it tested it once and got rejected pretty hard. There are 3 cases for the FTSE100 going into July, I’ll start from bullish to bearish: Bull case (green line) – for me to to go long on the FTSE100, I’d like to see a clear break of the 6,500 level, and on any re-test of the 6,500 I’d be looking at long positions. Neutral case (blue line) – FTSE carries on consolidating between the 6,500-6,000 range. Bear case (white line ) – FTSE clearly breaks 6,000 support and re-tests it’s lows. Whether we move up down or sideways will depend on what type of recover we get in the UK, so far things do not look good and I'd lean towards a break of the 6,000 level before we break-through the 6,500 level. If I see any long or short trade ideas, I'll be posting them on TV, so be sure to give me a follow if you enjoy my charting and comments. Enjoy my idea? Be sure to give my account a follow as I cover all major markets including, gold, Bitcoin, silver, Forex and stock markets. Have a question? Feel free to leave a comment, I aim to answer all questions :).
TVC:UKX
by BangkokCharts
FTSE consolidation endingA triangle price pattern and RSI near 50 shows that daily FTSE is entering the final stages of consolidation. this means we shall soon see the next big candle move from the market. On the fundamental side things are looking bearish as virus cases spike again and IMF and Central Banks are being very negative regarding the economic recovery. The contrarian point is that potential stimulus, even more of it, could boost the stocks to keep indices from falling. In UK Boris Johnson said today that next week the Economy Phase 12 plan will be rolled out. He actually said the same thing in his May's speech, so I am not having much faith here. Many cities across the globe, including the UK, are starting to close again because of the virus spikes, so markets are very cautious and more on the bearish side. Please support the idea and share your thoughts on FTSE! Good Luck and Stay Healthy!
TVC:UKX
by Antonio_trader
2
UK100 LONG - WEEKLY timeframe - modified Heiken Ashi strategyUsing a modified Heiken Ashi system whereby one enters long or short at the next bar based on the body of the previous completed bar, even if it is a doji. A more traditional HA strategy takes a directional position following a trending candle. This modified strategy is more aggressive and more mechanical meaning one does not perform a full analysis of the instrument in addition to following the strategy rules. In this trade the body of last week's HA candle was green therefore we enter long at the open. Stop goes beyond the local low. This constitutes 1 risk unit. An approximate target is set at 2.5 risk units.
FX:UK100Long
by jhgcfmkl
3
FTSE UK Stock Index (There is no substitute for hard work.)View On UK Stock Index FTSE (23 JUNE 2020) We need to watch the two levels. One is 6,150 and the another one is 6,000. As long as these levels are not broken down, the index can drfit higher up. 65,00 region can be the next. DYODD, all the best and read the disclaimer too. Feel Free to "Follow", press "LIKE" "Comment". Thank You! Legal Risk Disclosure: Trading foreign exchange or CFD on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor. DISCLAIMER: Any opinions, news, research, analyses, prices or other information discussed in this presentation or linked to from this presentation are provided as general market commentary and do not constitute investment advice. Sonicr Mastery Team does not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
OANDA:UK100GBP
by SonicDeejay
FTSE100 SHORT - WEEKLY timeframe - modified Heiken Ashi strategyUsing a modified Heiken Ashi system whereby one enters long or short at the next bar based on the body of the previous completed bar, even if it is a doji. A more traditional HA strategy takes a directional position following a trending candle. This modified strategy is more aggressive and more mechanical meaning one does not perform a full analysis of the instrument in addition to following the strategy rules. In this trade the body of last week's HA candle was red therefore we enter short at the open. Stop goes beyond the local high. This constitutes 1 risk unit. An approximate target is set at 2.5 risk units.
TVC:UKXShort
by jhgcfmkl
FTSE - Cautiously Bearish Bullish signals for Q2 and in each of the previous 3 weeks had been confirmed, but a near 1,750 Pt improvement since March’s 9 year low had left daily signals for sentiment overstretched and testing the 62% recovery to the entire 2020 sell-off, keeping last week’s signals just very cautiously bullish. An initial over 50 Pt improvement has in fact attracted profit selling, sentiment deteriorating by over 500 Pts from the top. The sell-off is probably corrective and temporary but in the absence of a buy signal the outlook for this week is bearish and the call is to sell on the open and then at 6204, Thursday’s Marabuzo Line with a stop loss at 6388.0, Wednesday’s top. Targets are to 5993, Friday’s Low, 5888.0, the 22nd May base and 5645.0, May’s low trade.
TVC:UKXShort
by ThreeCAnalysis