UKX Hourly - Approaching double resistance FTSE has a habit of issuing a signal then giving one last final squeeze - is the same happening again post the break down of the rising wedge? I'm still holding onto my prior shorts and using this opportunity to add. Currently at double resistance at 7190. RSI also showing divergence as well as being overbought. Good RR here I reckon for a short.
Ftse100
FTSE- The Big ShortFTSE, Has completed this huge daily harmonic pattern since before the Covid pandemic, We could see a massive sell of in the indice, Money running to the $ could see a massive collapse in global stock markets, because they too me seem very over priced, considering the state of the overall world economy right now, with tensions brewing China, is it possible we see a massive sell off and pressure on the FTSE 100, time will tell.
UKX Hourly - Nice pullback off resistance Nice pullback this morning off the top of the megaphone formation identified yesterday. There is double support around 7015/25 = lateral and upward sloping. A break below here targets 6980 and 6940. 6900 would see the bottom of the megaphone formation and the next large support region shaded in red. My bias would like to see it lower - but ideally would need to wait for confirmation. Also need to bare in mind that its not unusual to see selling into month end followed by a rally at the beginning of the new month
UK100 long is live 📈👍Entry details are shown on the chart.
We're only looking for TP3.
Trade history can be seen below this trade idea too for full transparency.
------------------------------------------
I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front of a screen daily.
Jumping on random trade ideas 'willy-nilly' on Trading View trying to find that one trade that you can retire from is not a sustainable way to trade. You might get lucky, but it will always end one way.
------------------------------------------
Please hit the 👍 LIKE button if you like my ideas🙏
Also follow my profile, then you will receive a notification whenever I post a trading idea - so you don't miss them. 🙌
No one likes missing out, do they?
Also, see my 'related ideas' below to see more just like this.
The stats for this pair are shown below too.
Thank you.
Darren.
UKX Hourly - Consolidating before next leg higher Decent bounce o/n / this morning following yesterday's sell off. I still favour a further move to the upside to test the initial break down. Can potentially see a bit of consolidation here in the red zone before targeting 6980. RSI has also broken out.
UKX Hourly - Approaching lateral supportThe 7025/6080 support area failed as expected following 4 previous bounces and a subsequent bear flag. We are now approaching new lateral support as the RSI heads into oversold territory. I will look to start averaging back into my ISA and SIPP accounts hoping for a bounce. When zoomed out the longer term picture is looking slightly more worrying - we may be approaching a sell a rally vs. buy the dip. Will monitor closely
UKX Hourly - Feeling heavy The index failed to make a higher high and has been trending lower all day. The 6980/7025 area has been tested 4 times and bounced aggressively - I doubt this will be the case on the next test. THe more times a level is tested the more likely it is to break/fail. I'm currently holding a short position (to hedge equity), but keeping an eye on the overhead open gap. I feel much better delta neutral at these levels
As requested, my idea about UK100!As @Traderwell requested, here’s my view about the UK100!
Short-term, the 7072 is a support that must not be lost, otherwise, we might just lose the 7k again. The breakpoint is 7118, as if UK100 breaks this point, then it’ll aim higher levels.
The danger lurking the index is the head and shoulders, a bearish pattern that has a neckline at the 7072, and the only way to avoid this scenario is by breaking the 7118.
This will make UK100 seek the next target at 7217, and cancel this bearish idea for good. I would like to see the BBs to get tighter in the 4h chart before anything else, tho.
For now, let’s focus on the 7072, as this is the most important line for us here.
If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.
See you soon,
Melissa.
FTSE100 make its 3 out of 3 😍👌I've said it before and I'll say it again win rate doesn't mean shit.
But, here we have a nice win rate coupled with a nice risk to reward of 1:2 for this strategy.
Alert is set ready to share the next trade should I be online - so ensure you're following.
All trade entry details are shown on the chart.
We are only ever looking for TP3 on this strategy the green lines are the TP target.
As always the trade history can be seen below this trade idea too for full transparency.
This chart pattern and sequence of trades also ties in nice with one my previous educational posts comparing systematic trading v subjective trading.
There is no subjectivity with the idea being posted here. Just a proven back tested plan followed to the letter.
Here's the previous educational post mentioned-
------------------------------------------
Please hit the 👍 LIKE button if you like my ideas🙏
Also follow my profile, then you will receive a notification whenever I post a trading idea - so you don't miss them. 🙌
No one likes missing out, do they?
Also, see my 'related ideas' below to see more just like this.
The stats for this pair are shown below too.
Thank you.
Darren.
UK100 - POTENTIAL EITHER WAYAll depends on open and how Asia foresees the UK economy in the upcoming weeks. Don't forget, the UK is co-hosting the Euro's and with the football going on the pubs are rammed and the economy is on the right tracks.