FTSE Elliott Wave Analysis for Friday 02/06/2023Trading day preparation. We discuss several scenarios that could play out. Depending on what the market gives us, there are several possibilities to enter a trade.
FTSE
FTSE Elliott Wave Analysis for Thursday 01/06/2023Trading day preparation. We discuss several scenarios that could play out. We define an area where to go long.
FTSE Elliott Wave Analysis for Wednesday 31/05/2023Trading day preparation. We discuss several scenarios that could play out. We see a potential long trade but we need more data to confirm.
FTSE Elliott Wave Analysis for Tuesday 30/05/2023Trading day preparation. We discuss several scenarios that could play out. We define an area where to go short. We also see a potential long trade but we need more data to confirm.
FTSE Elliott Wave Analysis for Sunday 28/05/2023A pullback in the higher timeframe seems likely. We have 5 waves up as an impulse in the weekly, daily, and 4h timeframe. However, as divergence in the weekly is not really outspoken, a new high is still possible. Investors should wait for the pullback to buy. Traders should analyze the lower timeframe.
FTSE Elliott Wave Analysis for Friday 26/05/2023Trading day preparation. We discuss several scenarios that could play out. We define an area to go short but we need more data in order to confirm.
FTSE100 Double Buy short-term and long-term break-out.The FTSE 100 Index (UK100) has broken below its 1D MA50 (blue trend-line) and is approaching the 1D MA200 (orange trend-line), which is the first short-term Support. The medium-term is the 1W MA100 (red trend-line) and those two are our buy entries for a 7800 Target. This is just under the Lower Highs trend-line from the All Time High (February 16 2023).
The 1D RSI is close to the 30.00 oversold barrier and past price action in March 2023 and October 2022 shows that the 2nd break below it, is a Buy Signal. The pattern overall with the Lower Lows in Support and inner Lower Highs, resembles that of December 2021 - May 2022 (so far).
As a result, we are only willing to take a long-term buy, if a 1D candle closes above the inner Lower Highs trend-line. In this case we will target 8200. The potential extension towards the end of the year can even be as high as the 1.382 Fibonacci extension (8350) which was where the February 16 2023 High was priced.
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FTSE Elliott Wave Analysis for Thursday 25/05/2023Trading day preparation. We discuss several scenarios that could play out. We define an area to go long and an area to go short but we need more data in order to confirm.
FTSE Elliott Wave Analysis for Wednesday 24/05/2023Trading day preparation. We discuss several scenarios that could play out. The FTSE is giving us a messy structure for the moment. It is hard to see potential entries for a trade. We define an area to go long and an area to go short but we need more data in order to confirm.
FTSE Elliott Wave Analysis for Tuesdday 23/05/2023Trading day preparation. Although pullback is expected in the higher timeframe, we can see some more upside in the lower timeframe. We discuss several scenarios that could play out. We define an area where to go short.
FTSE Elliott Wave Analysis for Monday 22/05/2023Trading day preparation. Although pullback is expected in the higher timeframe, we can see some more upside in the lower timeframe. We discuss several scenarios that could play out.
FTSE Elliott Wave Analysis for Sunday 21/05/2023A pullback in the higher timeframe seems likely. We have 5 waves up as an impulse in the weekly, daily, and 4h timeframe. However, as divergence in the weekly is not really outspoken, a new high is still possible. Investors should wait for the pullback to buy. Traders should analyze the lower timeframe.
FTSE Elliott Wave Analysis for Wednesday 17/05/2023Trading day preparation. Although pullback is expected in the higher timeframe, we can see some more upside in the lower timeframe. We discuss several scenarios that could play out.
FTSE Elliott Wave Analysis for Tuesday 16/05/2023Trading day preparation. Although pullback is expected in the higher timeframe, we can see some more upside in the lower timeframe. We discuss several scenarios that could play out. We see two ways to enter a trade.
FTSE Elliott Wave Analysis for Monday 15/05/2023Trading day preparation. Although pullback is expected in the higher timeframe, we can see some upside today in the lower timeframe. We discuss several scenarios that could play out. We see three ways to enter a trade.
FTSE Elliott Wave Analysis for Sunday 14/05/2023A pullback in the higher timeframe seems likely. We have 5 waves up as an impulse in the weekly, daily, and 4h timeframe. However, as divergence in the weekly is not really outspoken, a new high is still possible. Investors should wait for the pullback to buy. Traders should analyze the lower timeframe.
UK100:FTSE Rebounds on Double Bottom and Positive UK GDP Data
The FTSE has shown signs of a potential price increase after a Double Bottom pattern and Divergence were identified on the 4-hour timeframe. This movement is likely to continue in the direction of the current trend. The recent growth in value can be attributed to positive data from the UK, which showed a 0.1% increase in quarterly GDP in Q1. In addition, both Industrial Production and Manufacturing Production expanded by 0.7% in March.
FTSE: About to give a strong longterm buy signalFTSE100 has been trading inside a Channel Up since the October 13th 2022 bottom, currently pulling back after a rejection on the internal LH trendline. This has turned the 1D timeframe neutral (RSI = 48.285, MACD = 4.950, ADX = 49.378) and with the price on the 1D MA50, those are the conditions for a buy.
The Buy signal trigger however would be the index crossing over the LH trendline, as it did on a similar pattern on November 10th 2022. We will buy either on that trigger or on the 1D MA200. In both cases TP = 8,250.
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UK100 to start a selloff?UK100 - 24h expiry -
We are trading at overbought extremes.
Short term MACD has turned negative.
A break of 7800 is needed to confirm follow through negative momentum.
Short term bias has turned negative.
We look for losses to be extended today.
We look to Sell a break of 7799 (stop at 7838)
Our profit targets will be 7701 and 7681
Resistance: 7835 / 7860 / 7880
Support: 7809 / 7780 / 7750
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Short FTSEMy simple short idea, divergance on few time frames. We are overbought, no reason for more upside for me.
Take care
FTSE to breakdown from a wedge?UK100 - 24h expiry -
Previous support located at 7740.
Previous resistance located at 7800.
We are trading close to the end of an ascending Ending Wedge Formation.
We expect a reversal in this move.
A move through 7740 will confirm the bearish momentum.
We look to Sell a break of 7740 (stop at 7820)
Our profit targets will be 7560 and 7550
Resistance: 7800 / 7820 / 7850
Support: 7740 / 7700 / 7550
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
