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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Ftse100
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.
🥊The FTSE is sitting on major support, will it break down?🥊I have drew an easy to understand technical chart of the FTSE 100, highlighting the major support and resistance areas from March to July, using a daily chart (each bar is 1 day of trading on the FTSE100).
We can see that the 5,000 area acted as major support level in March, on 4 days wicks broke the 5k level but closed above (that tell us this is a huge support area).
FTSE bounced from the 5k area to break the 6,000 area on its second attempt, and since has been ranging between 6,500-6,000 area.
You’ll notice these support and resistance numbers are very well rounded (5k, 6k, 6.5k), bigger support levels on larger time-frames are often connected to psychological levels, because everyone investing/trading is watching these levels and it's why they work so well.
Moment on the RSI is below 50 and is fading, during the high in June it did not break the 70 level which is a little worrying, I read it as buyers not believing in the rally with more downside to come in the coming weeks.
We ended the week at 6,095 and bounced nicely off 6k support.
What happens next?
If we break the 6,000 level head lower, this leads to a path to re-test the 5k level. For a breakdown to happen I would want to see 4-5 days in a row that the FTSE closes below 6k. It can very well close 1-2 days below 6k and the next day break up and crush shorts (known as a bear trap).
If we do break this level I’ll be looking to add to my positions on the stocks I think are going to benefit in a potential rescission/depression/stagflation environment listed on the FTSE100.
For the FTSE to show signs of strength, it first needs to take out the minor resistance level at 6,350~ level, before taking another run at the 6,500 level.
Until there is a CLEAN break of the 6,000 level downwards or the 6,500 range upwards, the FTSE is consolidating in a range, it’s up to buyers and sellers to decide the road it takes next.
If you like my chart feel free to give my charts a follow :).
FTSE 100 (UKX) - Testing 4-month old Rising TrendlineThe FTSE 100 is testing a rising trendline - often a high R:R entry point.
A break would be a strong signal the uptrend has ended
Elliott Wave View: FTSE Resumes CorrectionFTSE 15 minutes chart below shows that the index has ended the cycle from June 25 low at 6303.40 high as a double three Elliott Wave Structure. Up from June 25 low, wave ((w)) ended at 6262.13 high. Wave ((x)) dip ended at 6087.70 low. The pair then extended higher in wave ((y)), which ended at 6303.40 high. This completed wave 2 in higher degree. The Index has since declined lower from that high.
Down from wave 2 high, the index ended wave ((i)) at 6152.88 low. The internal subdivision of wave ((i)) unfolded as 5 waves impulse Elliott Wave Structure. The bounce in wave ((ii)) then ended at 6208.43 high. Wave ((iii)) is currently in progress. Down from wave ((ii)), wave (i) of ((iii)) ended at 6144.52 low and wave (ii) bounce ended at 6134.37 high. Wave (iii) is currently in progress and could see another low before a bounce in wave (iv) can be seen. While below 6303.40 high, expect the bounce in 3,7, or 11 swings to fail for more downside. The downside target for FTSE would be the equal leg area from June 8 high at 5647-5780.
FTSE testing trend lineFTSE failed to break resistance zone and sold lower. Now approaching support at the trend line, 200SMA and 6000 level. A break lower would trigger a sell to lower levels.
Please support the idea and share your thoughts on FTSE!
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FTSE trade planPrice showed a break of the consolidating triangle. Now at resistance, previously confirmed. Wait for the break to buy to the next level of 6500.
As more of UK businesses reopen, stock market is expected to be bullish.
Please support the idea and share your thoughts on FTSE!
Good Luck and Stay Healthy!
ISFA (FTSE100 ETF) - downtrend to new lows continuesISFA continues on its way down to new lows. In the shorter term view, it seems to have finished, or nearly so, minor counter-trend wave 2. The next move should be minor 3, where the most probable target is is below 5,900. If prices crosses up 7,220, this analysis should be reviewed. FOLLOW SKYLINEPRO TO GET UPDATES.
UK'S FTSE 100The FTSE, as with so many others, has a nice wedge off the March lows. Like the S&P 500, the trend line from the February high to the June high remains intact. As a matter of fact, the FTSE rejected from it today.
Hmm. Wow, the very long-term chart (below) looks depressing. It has gone virtually nowhere in 20 years. Over 30 years, it has taken the form of a fairly methodical upward-sloping channel with an RSI that was not surpassed by two subsequent higher highs in price (one eked out in 2015 and a slightly more robust one in 2018).
I would expect us to revisit the lower channel, if the world markets fall apart, but perhaps that lower channel will serve at strong support (if we even get there).
$FTSE trade coming in$FTSE is breaking below the uptrend line and is without breakout confirmation yet but has a fantastic RR trade opportunity
UK 100 / FTSE 100 (SHORT)FTSE 100: the opportunity is SHORT as the market will collapse under deflationary pressure!
$SPX500 $DAX $FTSEIndices overview. Top-down trading analysis and the key levels for trades indicated. Pay a good attention to FTSE
🤔Can Boris & Rishi save the FTSE? Here's when to go long/shortThe biggest level on the FTSE100 charts is the 6,000 support, on the 4 hour, daily and weekly level this is an area of support.
What does it mean if support is shown on a number of time-frames? It means everyone trading the FTSE100 has the 6k level on their charts, it's also a psychological level.
The 6k level was tested 3 times in June, each time bouncing back, most likely trapping shorts who entered trades too early.
The 6,500 level is weekly resistance, it tested it once and got rejected pretty hard.
There are 3 cases for the FTSE100 going into July, I’ll start from bullish to bearish:
Bull case (green line) – for me to to go long on the FTSE100, I’d like to see a clear break of the 6,500 level, and on any re-test of the 6,500 I’d be looking at long positions.
Neutral case (blue line) – FTSE carries on consolidating between the 6,500-6,000 range.
Bear case (white line ) – FTSE clearly breaks 6,000 support and re-tests it’s lows.
Whether we move up down or sideways will depend on what type of recover we get in the UK, so far things do not look good and I'd lean towards a break of the 6,000 level before we break-through the 6,500 level.
If I see any long or short trade ideas, I'll be posting them on TV, so be sure to give me a follow if you enjoy my charting and comments.
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FTSE consolidation endingA triangle price pattern and RSI near 50 shows that daily FTSE is entering the final stages of consolidation. this means we shall soon see the next big candle move from the market.
On the fundamental side things are looking bearish as virus cases spike again and IMF and Central Banks are being very negative regarding the economic recovery.
The contrarian point is that potential stimulus, even more of it, could boost the stocks to keep indices from falling.
In UK Boris Johnson said today that next week the Economy Phase 12 plan will be rolled out. He actually said the same thing in his May's speech, so I am not having much faith here.
Many cities across the globe, including the UK, are starting to close again because of the virus spikes, so markets are very cautious and more on the bearish side.
Please support the idea and share your thoughts on FTSE!
Good Luck and Stay Healthy!
