Expanding Triangle - Bearish or Bullish?Is the FTSE in Wave C or E of an expanding triangle? Both patterns could be supported by a pull pack in the S&P500 to complete the triangle (Wave E) or a move to the downside if wave E have completed at around 6295.
Ftse100
UKX, FTSE100, Elliot wave analysis 08/08/2020I am expecting the market to go up slowly before the crash
#UK100 #FTSE100 Top Down Analysis & ForecastTraders, In this multi time frame analysis we see that market has reached a critical level. It also moved exactly as we predicted in our last analysis. So what's next?
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Disclaimer:
The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only. Not a financial advice or signal. Please make your own independent investment decisions.
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UKX, FTSE100, elliot wave analysis. Bearish count. 31.07The prediction went right and the triangle d wave got broken.
I am expecting a short reversal and then another crash. I will keep you update here
#FTSE100 #UK100 Weekly Multi Time Frame Analysis & ForecastTraders, FTSE100 has taken a divergence from snp500 and fell. This has been showing bearish signs for some time now. So I am expecting it to fall further. Lets see what opportunities we have on it in this multi timeframe analysis and forecast.
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Disclaimer:
The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only. Not a financial advice or signal. Please make your own independent investment decisions.
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📈FTSE 100 - Here's where we are going next in August 👇This is a chart of the FTSE100 on the daily time frame, each bar is 1 day of price action. In this post I talk about the price action of July, bull and bear cases for the FTSE and important levels to watch out for if you're looking to add to positions.
The last time I posted about the FTSE I said it was important that we do not break the 6,000 level, and if we do it becomes more probable that we see the 5,000 level again.
A clear break of the 6,000 level would indicate that the March rally was a dead count bounce.
On Thursday the FTSE broke the 6,000 level.
On Friday it back tested the 6,000 level as resistance, what was once support has now become resistance (wick on the last bar touched the 6,000 level before selling off sharply.)
It convincing broke that level showing sellers wanting to get out.
What has happened in the UK in July?
Let’s start with UK’s biggest bank Lloyds which is a barometer for the financial economy (I exl HSBC as it’s a multinational, but if you take a look at all banks, they are breaking major support levels across the board).
From March till July, Lloyds was holding strong above the 30p mark a huge level in place since 2008 GFC, this week it’s earning came out much worse than expected and it broke major support sitting at 26p.
Now over to energy – BP.
Like Lloyds, BP was keeping its head above water at 300p a historical level of importance for over a decade of price action.
This area acted as support all the way back from 2010 and 2015, this week it fell through the floor and now sits at 275p.
BT was keeping afloat above the 115p area for months and now is at 98p, lowest price in a decade.
Taylor Wimpy major level was 130p in play from 2016 and 2018 where it bounce off nicely, for months it was using this level as support, it now sits at 118p.
Across a wide range of sectors, many UK large businesses have broken major support levels that have supported them for many years, suggesting that the overall mood is bearish and that in the next few months we should expect more downside.
Why did we see a sharp amount of selling the last few days? Some things to think about.
On Friday UK ended its 80% furlough scheme, now it’s only gives 60% with employers putting up the other 20%. The question is how many employers are going to put up the 20% with their profits slashed.
I don’t think it’s any surprise that we see the break of support on the Thursday, two days before the scheme was being cut, I assume that investors were waiting to see if this would be extended before making their way to the exit.
On Friday Brois slammed on the “breaks” for -opening the UK, with some parts of North England under some type of lockdown, slowing down the recovery. Casinos, bowling alleys etc opening are also delayed for at least two weeks. Borris also stated another nationwide lockdown is not off the cards.
No trade deal with the EU does not help local UK businesses, and the strengthening of the GBP is dragging the FTSE down as it makes foreign investment into the FTSE less attractive.
In my last FTSE post I stated that I expected to see many more layoffs and that has come true, not a day goes by without a major firm reducing staff.
Companies all over the globe are figuring out how to do more with less, and when they figure that out it will result in job cuts.
Mortgage holiday and credit card holidays are coming to an end shortly, signalling more pain for banks and reasons to exit.
Now let's focus on the bull cases for the FTSE100, if you have your own bull/bear cases please leave a comment below so we can share ideas.
The UK gets the virus under control and we see a v-shape recovery, or a vaccine.
The bulk of employers pay 20% of the furlough for staff staying at home and unemployment does not increase, and by October we are back to normal (that's when the scheme ends), or the scheme is extended.
UK gets a great EU trade deal.
The first area of support on the FTSE is minor support at 5,700~, we can see it acting as both support and resistance from March-July, and if you zoom out over 10 years, this level has acted as S/R in the past, I expect buyers to step in here, but will there be more buyers than sellers?
If we cannot hold the 5,700 area, then it’s most likely that we go and re-test the 5,000 area where I expect there to be a lot of buyers waiting.
If you’re holding FTSE funds/ETF and are thinking about adding, these are important levels to watch out for to average in.
Can we see the FTSE100 break above the 6,000 level next week?
Yes, it can.
If the FTSE goes upward of 6,000, I would like to see a huge green candle as that shows that buyers are stepping in, I would then like to see the FTSE close above 6k for several days, making the break below 6,000 a bear trap. If that does not happen, then we can expect more downside to the FTSE 100. Looking at the RSI buying moment is weak and shows that the bears are firmly in control right now.
Have a question? Then leave one below.
AstraZeneca :Repetitive "Bearish Engulfing Line" Candle Pattern The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.
UKX, FTSE100, Elliot wave analysis 29.07thing are going as planned .
It seems that we will have a flat correction
if the price goes as planned you can sell exactly where I have shown
FTSE 100Hello Traders, if you agree with my idea put a like and feel free leave a comment to link your trading ideas.
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FTSE100 - UKX - What is next?FTSE100 -UKX - What can we expect to happen?
I am strictly basing this analysis I share with you today on technicals only with additional aspects of trading psychology.
Technical Aspects:
We have a wedge formation, a break to either direction is key.
We also have the Fibonacci Retracement to keep in mind.
Support and resistance areas combined with key trend-line areas.
Who's in control?
The bulls at this moment of time.
What could we be expecting?
BELOW that key trend-line up in red - Bears get in control, targeting the next support area 0.618 area
ABOVE wedge area, the trend-line down is key area we need to focus on that's the next resistance area if we break either bullish momentum will continue and target areas next resistance areas. 161.8 areas.
I've suffered for years actually over coming this ego I had towards the market. To create consistency and to be able to produce the analysis I prepare for you today there is years of unsuccessful and hard work and I thank for those days today. I appreciate everything I've learnt about myself to get to where I am, the bad days lead to good days. However, what I learnt over the years is:
1. Trading is just probabilities, you're creating your probabilities higher through the analysis you prepare.
2. Patience is key, the trade wont go your way within minutes, the market doesn't care about you and you are NOT there to fight it because you'll get into bad behaviour of trades e.g. Chasing.
3. There is no one set way of trading, create your own plan - Create a plan that really suits you, trading is like having your own business. You are your own boss. Make the most of it!
4. Book won't teach you how to trade - real life practical works get yourself a mentor - get educated by the best with years experience. I use the analogy of learning how to drive a car personally I love cars, Ferrari 458 of my favourites - However, doing the theory test is key gives you great knowledge but the practical reality of driving you need practice, you have the rules and most importantly the edge on how you maybe able to shift gears for whatever you're faced with in-front of you. That's like trading.
Remember: Just a trade idea, not a recommendation.
Have a great week ahead.
#UK100 #FTSE Full Top Down Analysis & ForecastTraders, Like SNP500 and US30 we were expecting FTSE 100 to be bearish too.That's what has happened. Now it has reached a level where it could start to move higher. So we need to see what lies ahead. Lets find out.
If you found this idea useful, hit the like button and subscribe. If you have your own ideas to share on this market or have a question, comment below so that we can discuss.
Disclaimer:
The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only. Not a financial advice or signal. Please make your own independent investment decisions.
____________________________________________________
$UK100 #FTSE100 Index - Into 3300 and buyside $ this 6200 level is key ! Long above stops below 6190
FTSE100 Could be on move soon...!FTSE100 UK.
It could be on move soon! How? Well past that key trend-line down in red, bullish flag formation as well if goes above out of the range it has been stuck in - the bulls are in control target within the next resistance key areas. However, if bears get in control, below the key trend-line out of range down next target near retracement fib levels which match support and resistance areas. Clean trade idea, put alerts or orders in to make it easier.
Remember: Just a trade idea, not a recommendation.
Bitcoin Pops Above $9,400 as Stocks Make Gains“Bitcoin might be waking up,” said Rupert Douglas, head of institutional sales at London-based crypto brokerage Koine. “A close above $9,600 would be a strong sign.”
Gains in the equity markets appear to have been the catalyst for bitcoin’s positive trading day. “Bitcoin seems pretty correlated to equities at the moment,” Koine’s Douglas told CoinDesk. “The test will be whether BTC can hold up if equities sell off.”
UK100 6305.1 + 0.82 % LONG IDEA * STRUCTURE & CONTINUATIONGood Day Everyone
Here's a look at the UK100 which has been range bound in an ascending triangle structure but looking from higher time frames the sentiment is still bullish on the index so will be looking for a continuation of this move to the upside the trade will be taken on if we see significant moves with the bulls and begin to trade above level 6329.11 among st other factors lets see how it goes...
Good luck and happy trading everyone
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ENTRY & SL - FOLLOW YOUR RULES ON PENDING ODER & SO FORTH
RISK-MANAGEMENT
PERIOD - SWING TRADE
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If you like the idea kindly leave a like and a follow will definitely follow back and leave your idea & Comment on the pair in the comment section.
FTSE trade planPrice formed a falling channel near the resistance zone. A break higher is a continuation signal to target 6500, previous highs. 2nd target is at 61.8% fib retracement of the March sell-off.
Sentiment is positive as markets prices in the reopening in UK and Europe.
Please support the idea and share your thoughts on FTSE!
Good Luck and Stay Healthy!
FTSE DOWNkey:
dark blue lines are day
yellow lines are yellow
white lines are month
red lines are patterns (descending triangle)
what we have here on the daily time frame is a descending triangle winch means the price will probably brake to the down side
Also u can see that yesterday we had a candle up to the months high at 6,325 and got pushed back down to blue line at 6,296.
as u can see with to days open we had a rejection off the previous days high and have support on today's low
how i would trade this is wait till the brake out happens to know direction
Support of 2003 at 1170p - LT target of 2000p Believe that Shell has a good potential of getting good returns in the long term investment game.
It is not only driven by Oil price in future as they expand into other fields.
I would say within next few years we will hit back 2000p if not more.
Let's not forget the dividend as well.
I would say a nice pf addition for diversification.
FTSE 100 Near term measureFor the first time since Covid19 lows, we have had three weeks down. This plays into near term concept of related comment, link attached. The next 1-2 weeks will give us a very good outllook into the summer/autumn period
FTSE 100 Sentiment MarkerA key price has presented itself over the last few months. Much can be gauged from it
Interesting Stock Index Comparison - NASDAQ Sores!Here's an interesting stock index comparison. Notable NASDAQ is the out-performer amongst this group of indices.
On Friday the NASDAQ printed it's all time record highs closing the day at 10,836. Last week this index smashed through the 10,000 handle completely disregarding it for any level of psychological resistance.
Meanwhile the COVID19 reported another record high of +71,787 new cases in America on Friday.
