UK100- To break up?FTSE100 is consolidating just under important resistance that lies around 6500.
I believe this resistance will be broken to the upside and UK index could see a new all-time high.
A buy around 6400 would be ideal for this anticipated break and, with a 100 points SL could easily reach 1:3 R:R
Ftse100
$UKX Hourly -Hourly close below 6305 confirms bearish double topHourly close below 6305 confirms bearish double top
FTSE 100 - Still holding our breath 🙏We are still waiting for the anticipated drop in FTSE100, Let's hope it happens.
ridethepig | FTSE Fundamental FlowsHere we are more or less back to square one as to where we were in July and testing away at the resistance.
Buyers are showing a lack of tenacity!
If after the Brexit fact (does not really matter if its a deal or hard brexit deal) we can see the possible outflow pressure really start to make itself felt. The strong counter here should immediately come under pressure with the initial loss of market access and broader global slowdown.
Once again (and with slow and steady pace) start to build some sell side exposure, abandon the overweight UK equities position and employ the following manoeuvres. A test of the centre looks rolled up and ready to take. Make excellent use of the flow towards 5,600.
Thanks as usual for keeping the feedback coming 👍 or 👎
FTSE 100 - Rainy and BearishWe see FTSE 100 stuck on resistance and unable to break over. Drop is inbound (or at least that's what we think here)
$UKX Hourly - Potential bearish H&S on the cardsConfirmed with a break and close below 6305. Follows yesterday bearish action. Still holding onto my shorts, opportunity to bring stops down and reduce risk.
$UKX Hourly - Bounce but no follow through Index bounced off lateral support following the hidden bullish RSI divergence identified yesterday, but has lacked any meaningful following through. Fundamentally I still think this index is overstretched and happy to put on a decent RR short trade here on the backtest of the broken upward channel. Yesterday we saw the first signs of a possible change in trend. 20 SMA flat lining, price below, and a break and backtest of upward channel. First target = next lateral support around 6205. SL = close above 20SMA around 6380.
$UKX Hourly - IF this index is going to bounce it will be soonHidden bullish RSI divergence coming through as the price reaches a double support - lateral and upward sloping channel. Still no position.
$UKX Hourly - Yesterday's headline rally lacking momentumDidn't chase yesterday's rally following vaccine headline news - as said I don't like chasing price breaks on headlines and this was confirmed with the RSI divergence. Still trading within an uptrend. No position and continue to watch and wait for higher RR set ups
$UKX Hourly - Bull flag broken, no position Upside break following more vaccine news - I don't like chasing breaks on headline news. RSI divergence shows price also not convinced.
$UKX Hourly - Bias for move lower BUT watching poss. bull flagWould still like to see move lower, but buyers are still emerging around the 6300 level. Possible bull flag on the cards, but daily is still very extended.
$UKX Hourly - Promising start, need 6300 and 20SMA to breakGood first step for a move lower highlighted by the RSI divergence published yesterday. Need to see 6300 lateral support and 20SMA decisively break before we can expect to see a meaningful change in trend and momentum lower.
FTSE 100 Buy set up We are seeing strong gains in the FTSE 100 as positive headlines on a potential vaccine, alongside expectations of a Brexit deal is causing investors to buy undervalued UK assets before the pound strengthens against the U.S Dollar.
FTSE100 - Time to Sell againOur chart is giving us indications for a possible drop (almost at major resistance now).
$UKX Hourly - Been a monster move, how long can momentum lastWould like to see a pullback around these levels. Fundamentally I feel move has been overdone and technicals are starting to show signs of agreement - lateral resistance and RSI divergence. ISAs in cash waiting for better levels to buy back in.
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FTSE100 continuing down? The FTSE100 has been trading in a downward channel since June, the daily timeframe shows price is weakening approaching the top of this channel and has given us an indecision candle. We can see on lower timeframes, 1h + 4h there is RSI divergence signalling potential for a bearish move. Will look for entry on 1h
NIKKEI: WAVE-5 of 5TH WAVE ... INDICES ALIGNING, FTSE & SPX500FTSE: REACHES FINAL WAVE-C of DOUBLE CORRECTION
( As oF MARCH FTSE has been in CORRECTION ):
THEREFORE EVERY MAJOR INDICES is ALIGNING toward the Downside
FTSE Intraday setup.UK100 - Intraday - We sold at 5594 (stop at 5662)
Prices have reacted from 5597.
Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end.
Further downside is expected although we prefer to sell into rallies close to the 5594 level.
Our profit targets will be 5400 and 5155
Resistance: 5650 / 5854 / 6106
Support: 5445 / 5155 / 4785
$UKX Hourly - Decent RR opportunity for a small short Double resistance - lateral and downward sloping. RSI heading into overbought territory v quickly. Extended from 20 SMA
$UKX Hourly - Consolidating, waiting for break Consolidating following heaving selling. RSI is encouraging for a break upwards, but not confirmed yet. A break above 5600 will see the index break above its 20SMA and hopefully touch 5700 region with potentially a gap close. Further selling expected if we break through the lows.
FTSE 100 ( UK ) 4 Hour Potential Supply 01 November 2020Follow DeltaSD
Potential Short Setup.
4 Hour Potential Supply
Level to Watch
for Monday
2 November 2020
OANDA:UK100GBP
