FTSE - Two ways for the FTSE?FTSE for the next couple of days - though my opinion would back the shorts even in this bullish scenario
FTSE
FTSE 100 still is a downward channelthis channel contains an Elliott wave in five waves and the recent high is the top of wave 4. If however wave 4 takes the shape of a triangle, the recent high is wave (a) inside wave 4. In this scenario the FTSE will bounce back to the upper line as the current decline is wave (b) and the bounce will be wave (c). A break above the upper line ans above 6765 would be bullish as this would imply a trend reversal.
Daily Outside Bar just below the PRZ of a Gartley The German DAX continues to consolidate just below the PRZ of weekly bearish Gartley pattern.
Today, after Draghi's ECB press conference, the German Index formed a daily Outside Bar that will be triggered if the price will decline below 10,600
For now, the Fast MA line (in yellow) continues to play its support role and drives the price higher every time it touches it.
When it'll fail, it'll be the trigger for a pullback towards 10,000 again (with 10,350-10,400 as mid Target) to test the strong weekly support there.
FTSE 100 Medium Term Short: Divergence, BB, Missed PivotsThe FTSE 100 is trading near 6950, up more than 1200 points from the post-Brexit low of 5727.
Fundamentally, this is because of the sharp fall in Sterling.
However, technically, the FTSE 100 may be due for a correction.
It has relentlessly traded upwards, however:
1) There is strong resistance to be expected at 7000, a psychological round number.
2) There is divergence on the 4H chart at 6950.
3) The FTSE 100 has traded outside its 800-period BB on the 4H chart for more than 2 weeks.
4) There are multiple missed pivots, monthly and weekly, amidst the FTSE's post-Brexit rally.
This might suggest that we are due for a correction in the medium term, perhaps to the 6700 level.
If Sterling recovers, the correction may extend to 6300. However this is unlikely given a dovish BoE, quantitative easing and the market pricing in further interest rate cuts.
FTSE 100 6780 -> 6570Daily close below support level 6780 confirms short opportunity on FTSE 100 targeting 38.2% Fib retracement level at 6570.
FTSE 100 6860 -> 6570FTSE 100 is retracing from the 6780 support zone.
Consider reentering short from 6860 targeting channel breakout and further decline down to 6570.
7000 will be key weekly resistance zone for the FTSEAs "Brexit" vote didn't even happen, the UK index FTSE reached almost 2015's highs without even stopping at the 200 weeks MA line that should have acted as some sort of resistance... and failed.
Now, near 7000, the FTSE completes a bearish Bat pattern (weekly) and also testing the bottom of a trading channel that held the price in it throughout most of 2013-2014.
Interesting potential Sell Zone for the FTSE near 7000
See more details in this video - www.youtube.com
FTSE If the current high on the FTSE holds, i will be anticipating a 61.8% re-tracement (from the last area of supply and demand to the current high) this 61.8% also coincides with a daily breaker
FTSE 6870 -> 6700Short entry below 6870, stop 6960, target 6700 (23.6% Fib retracement area or lower channel's range value).
Short Europe - DAXShort risking a new 2016 high. The ECB, FED and all other central banks are superficial inflating and doing all they can but the world is in disarray and needs a breather.
Short Europe - CACShort risking June'16 high. The ECB, FED and all other central banks are superficial inflating and doing all they can but the world is in disarray and needs a breather.
Short Europe - FTSEShort risking last week's high. The central banks doing all they can but the world is in disarray and needs a breather.
FTSE 100 full recovery and ATH Inverted H+S - A break and close above 6818 would confirm further uptrend up to a possible of 7500 (considering 7128 is broken and closed above).
A retest of the neckline is a great buy opportunity and shorts should be below this neckline. If the neckline is broken, the pattern is invalidated at the downward pressure will commence.
FTSE MIBThe attempt of passing the descresing trend line (dashed) is continuing and the end of the week will tell us the future of mib for the next weeks.
FTSE 7000 here we comeLittle need for technicals when the equity market is pumped for higher, a weaker GBP, further QE and global uptrend will see this trade back to the 7000
GBPAUDPRICE ON THE DAILY CURRENTLY SITTING WITHING A MAJOR BUY ZONE, AS YOU CAN SEE BY THE POINTS HIGHLIGHTED IN SEPT 2015 AND ALSO 2014
ZOOMING IN A LITTLE THE DAILY CANDLE FOR FRIDAY TIRED A STRONG PUSH BEARISH POST NFP BUT THE 8/1 FAN ZONE KEPT IT IN CHECK FORMING A NICE DOJI. A BULLISH DAILY CANDLE TOMORROW WOULD INDICATE A HIGHER LOW AND WOULD INDICATE FURTHER BULLISH MOVES, ATLEAST TO THE .1.77 LEVEL.
I PERSONALLY AM LOOKING FOR AN EVENTUAL PUSH TOWARDS THE 0.51 FIB MARK AREA WITH A SL BELOW THE DAILY TRENDLINE WE BOUNCED OFF.
OVERSOLD POUND OVERBOUGHT FTSE
FTSE SHORTAn overbought ftse is due to fall, i am short at 6700 and todays strong test and pull back from the 3/1 level further confirms bearish sentiment, first tp is at 6400 and the second set just above major support zone 6200..
Short FTSE100Declining RSI (14). Strong resistance. MacD and K.S.T. (Know Sure Thing) about to cross. Weak fundamentals
AEX daytimeframe february - july compare to FTSE index
If we look at the AEX we are seeing an uptrend, but if we look at the FTSE, we are seeing an breaking-out above the upward trendline. If we look at the RSI index we are seeing an really long trend the last time above our upper band. If we look at the MACD we have some pression the last semair.
If are looking aging at our stockimage in the bollinger bands there could come some moment were the MA will cross under the basis line of the Bollinger bands. This means that there could be some pression what can results in a downtrend.
Also Bloomberg has been uploaded some content about the bad politic situation in the UK when the prime minister is getting out. This can also result in a shockwave in financial markets (most likely is the markets that are in correlation with the FTSE)
