FTSE100 Possible sell and buy setups with entrys.Good evening all, I am overall forecasting a bull move coming in for the FTSE 100 shortly... this is due to price failing to maintain the HH HL price action.
HOWEVER....
We all know we trade what the market gives us which is why I always have multiple entry's for both bullish and bearish should price decide to go against my forecast. Now, every entry you see is based upon a key level, they are not just placed in random places...
Of course guys this goes without saying but this is just for educational purposes and copy this trade at YOUR OWN RISK.
Remember never risk more than 1% and aim for at least a 2:1 RR.
Good luck for the rest of the month guys and I am also open to hear you guys forecast for the week ahead.
Ftse100
FTSE100 Buy SignalPattern: Channel Up on 4H.
Signal: Buy as the price is rising following a (near) Higher Low on the pattern.
Target: 7120 (the 1.382 Fibonacci extension).
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UKX Hourly - Higher high following successful bounce off supportHigher highs and higher lows are in place following a successful bounce off lateral support. Still favouring a long bias with a full target of 7050ish and SL of 6890. I am expecting some resistance around 6965 (NB NB) - I will be monitoring closely for any potential reversal. Through this crucial point, one can look to add to their longs, but a reversal here will see me swing to a short position. Updates to follow as we progress
FTSE100 Can Go Higher After Correcting from 7K - Important LevelTraders, UK100 (FTSE 100) has been one of the best indices to trade in recent weeks and months as it has given us several opportunities both long and short side. But the bias has always been towards the long for path few months. Now that it has hit 7000 level, it has started to show some correction and this can continue to fdew lower levels as shown in the chart but ultimately a breakout above 7K can lead us into the next FCP zone. A full video analysis is available on the channel. Find the link to the channel below.
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.
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2 Possible Longs FTSE100 UK100Longterm hold small lot size - holding for the next 2-3 weeks as the UK starts to reopen i see growth! As always move SL as you secure a good amount of profit.
VUKE Daily - trimmed back to u/weight waiting for better levelsI had used the green accumulation zone to add to my positions - after a successful run I have taken profit on the majority of holdings leaving me net underweight. I am hoping for a dip back to the red zone where I will look to start re-entering.
Will FTSE 100 finally breakout??!?!With a start of a new quarter..keep an eye on the FTSE 100.
Price has been consolidating since the start of the year, trading inside value for '21.
After selling off early in the year, price is back retesting 6800 yet again. A break above would be a very bullish signal, with continuation towards yearly highs a good possibility.
We are currently opening near last months VAH & POC, so should show its hand soon.
Watch and see how it plays out.
$UKX Hourly - Possible consolidation before final push higherMinor bearish RSI divergence has appeared on the hourly. Trend is still clearly up and full target of 6870 BUT momentum appears to be slowing. Taking some profit here on my longs and will look to add on a test of the green zone at 6780/6790.
FTSE 100 Edging Towards 7000The FTSE 100 has failed to break and close above the February 2018 low at 6536 for a number of months now.
You can see the December 2020 candle and the candles for January and February 2021 traded above this level
but ended the month by closing below this level.
With one more trading day of the month left to go, we may well finally see that close above 6536 and if this
is achieved then we should continue to see bullish moves in UK stocks.
Although the move up has been rather sluggish, price has gained good ground following the 22% decline we
experienced in February and March 2020 at the peak of the global pandemic. In March 2020 price continued
down and found support around the 5000 round number before moving back to the upside.
With a bullish end to this month’s candle, the next level of resistance is 7000 and following that we have
the all-time high at 7903, which is the May 2018 high. We will be able to get a better perspective of price
action once the candle for March closes and decide on which opportunities we want to take positions in.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
$UKX Hourly - Backtesting channel break We are currently testing Friday's channel break. Good RR levels to go long for those who currently don't have a position. Nice gap at 6780 I would like to see filled, as well as the full target of the bull flag and inverse H&S of 6870. We have seen some month end selling during the previous few months which is something to keep an eye on and more reason to keep stops tighter. On the other hand, this month may be different given it is tax year end in the UK. Summary: Long with a tight stop
UKX Hourly - Bullish picture intact despite yesterday's wobble Bottom of the red lateral support held despite yesterday's brief wobble lower. In hindsight it was a great buying opp for those that missed the morning's bullish confirmation. Still looking for full target of 6870 - however not in a straight line
CAD slides with oil as WTI slips back below $58 per barrelDuring today’s European trading session, the risk tone soured with EMEA indices negative across the board and measures of volatility elevated; although, safe haven currencies remained broadly weaker.
Leading European indices to the downside is the IBEX 35 at -1.13%, followed by the FTSE 100 at -0.94%, the Euro Stoxx 50 at -0.65% and the DAX and CAC 40 at -0.62% and -0.47%, respectively.
In the FX complex, despite the moderation from the risk on tone seen in the Asia-Pacific session, JPY is still the session’s laggard. However, with that said, against most counterparts, the safe haven has pulled off its worst levels.
Another notable underperformer on the session is CAD, with Reuters noting, “Canadian dollar holds near two week low as oil slides.” Indeed, WTI has relinquished the $60.00, $59.00 and $58.00 per barrel levels.
In contrast, GBP is currently leading the FX majors to the upside; however, analysts continue to voice concerns over tensions between the UK and EU which threaten the UK’s vaccination rollout.
Looking ahead, expect central bank rhetoric to remain a key theme of the day with numerous Fed speakers on the docket. Of course, expect developments in WTI to remain key for CAD and the overall risk tone to remain key for the antipodeans and safe havens.
VUKE Daily - Breaking higher but testing NB lateral resistanceI started scaling back in and increasing my weighting around 29 (green box) in the hope we would get the break higher we seeing now. Yesterday we saw the VHYL ETF be the first to break higher and VUKE appears to be following suit. Red lateral resistance is quite significant and I wouldn't be too surprised to see the ETF pause a bit at this level, consolidate, before powering higher. I have been adding and trimming continuously to this position (see comments on prior chart). I am happy to take profit on 25% of my holding here (given the resistance), and will look to re-add
FTSE100 - Triple bottom formedFollowing on from my previous idea, the FTSE has continued to show strength at this level of support.
A triple bottom has formed at what looks like the bottom of the cup in a cup and handle pattern.
If FTSE traders were bearish, the drop from the rising wedge would've been steeper. The news around the vaccine spat with the EU would've also likely caused a steepeer slide. However, because the bad news has been absorbed, we can assume traders are bullish (for now).
I think the only thing stopping the FTSE from moving up is the current fears around lockdown on the continent. Technically speaking, I like how the chart looks. Bulls seem to be defending the 6700 level well. Fundamentally, the fears over lockdowns worries me about this setup, but I'm still confident it will play out.
See chart for entries and exits