$SPX500 $DAX $FTSEIndices overview. Top-down trading analysis and the key levels for trades indicated. Pay a good attention to FTSE
Ftse100
🤔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.
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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!
Possible Inverse H&S on FTSEInverse H&S pattern at 15m interval on the FTSE..
Disclaimer: Not a suggestion to Buy or Sell
$UKX Hourly - Worth a small long, stop at mornings lows Lovely bounce and hold off support. Potentially a false break lower out of broadening formation. Worth a small long with a stop set at this mornings lows
$UKX Hourly - Up against resistance on price and RSI. Waiting Through here targets 6310, otherwise back to down to 6060
FTSE 100 Selling rallies towards 6200+ as the name of the game ?Hi,
the setup looks like easy one but it is not!
Why ? Very simple answer.... end of the quarter is coming so we do know fireworks are possible ( so low exposure here )
Rising trendline been broken
Retest rejected
Equal moves = 5800
selling rallies towards 6200+
Stop: daily close above 6330
Target 5800
Good Luck
FTSE 100 Sell Signal!Sell trade on H4 time frame is back at entry, let see how this now plays out.
Regards
Darren
When Stocks Go Down, So Does BitcoinBearish sentiment is affecting all markets today as investors appear to be de-risking, selling liquid assets for the safety of instruments like cash, said Neil Van Huis, director of institutional trading at cryptocurrency liquidity provider Blockfills. “Looks a little risk-offish on all risk assets across the board,”
Indeed, major stock indices are all in the red Wednesday. In Asia, the Nikkei 225 of publicly traded companies ended the day flat, down 0.07%. Concern about increased coronavirus infection rates in Japan led to some selling pressure. In Europe, the FTSE 100 index dropped 3.1% Wednesday. The prospect of U.S. tariffs on U.K., French, Spanish and German goods dragged the index lower.
The U.S. S&P 500 stock index lost 2.6%. The round of stock selling has been attributed to concerns of the coronavirus pandemic’s resurgence in some states.
June hasn’t exactly been a winner for bitcoin so far, but it’s not like stocks were hot either.
$UKX Hourly - Broadening formationAfter this morning's sell-off we now have a confirmed broadening formation. This can be bullish or bearish, BUT confirms the indecision/volatility we have seen recently. We are also on the lateral grey support area. Can take a sneaky long here to play the range with a relatively tight stop. Keep an eye on the wedge that is still in play .
FTSE UK Stock Index (There is no substitute for hard work.)View On UK Stock Index FTSE (23 JUNE 2020)
We need to watch the two levels. One is 6,150 and the another one is 6,000.
As long as these levels are not broken down, the index can drfit higher up. 65,00 region can be the next.
DYODD, all the best and read the disclaimer too.
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$UKX Hourly - Good RR levels for a short at 6330- tight stop Double overhead resistance, and bearish RSI divergence. Can place tight stop. Good RR
$UKX Hourly - Bullish hidden divergence Wedge has broken to the downside, BUT bullish hidden divergence has developed. Higher highs and lower lows are still in place and we could still be in the process of building the handle to a bullish C&H pattern. Developments are changing daily. Keeping positions small, following the trend of the day, and sticking to my SLs
$UKX Hourly - Second rising wedge keeping things interesting Bearish second rising wedge keeping things interesting
$UKX Hourly Potential bullish C&H/bull flag -waiting on sidelineThe potential RHS of a larger H&S pattern we identified earlier this week is potentially changing into a bullish C&H pattern or a bull flag. The indecision between two conflicting patterns makes me feel uncomfortable so I will wait for further developments before getting involved. Last couple of days have been low vol days which usually precede larger moves. Maintaining capital is key
FTSE trade outlookAfter Monday's retracement indices have been ranging with no real momentum.
Resistance of the range is 61.8% and good support zone (green) with 50SMA and 200SMA.
Break of either and close opens new target levels.
Please support the idea and share your thoughts on FTSE!
Good Luck and Stay Healthy!
$UKX Hourly - RSI divergence forming, start of LHS?Been patiently waiting for the LHS to form. Can pre-empt based on RSI divergence with a tight stop just above 6300, or wait for confirmation by break of NL. I am keeping an eye on the 20SMA - not ideal that it is pointing upward.
FTSE 100 doesn't appear to getting a v-shape recovery Over the last few days the FTSE has been ranging between 6,500-6,000.
Monument (RSI) looks mild, and the 9 day average is right in the middle of the candle.
The FTSE has jumped is above the bearish support which is a good sign, but it's too early to know if it's a fakeout or a breakout.
This market is going to need some good news to break above the 6,500 range, maybe that will be provided by the Bank of England tomorrow, or the politicians by announcing some new job scheme.
What is clear in the charts is that the UK is not currently pricing in a V shape recovery, prices are way off their all time highs with price consolidating.
BP, BA, Land Rover and many other UK firms have announced huge job cuts, the current about of job variances are at record lows, all bad long-term signs for the UK economy and the FTSE100.
The markets need stimulus from central banks and politicians, maybe they will get that later this week, otherwise there could be more pain to come in the coming weeks.
If you enjoy my macro outlook on the FTSE, and have any comments, below leave them below, and give me a follow as I focus on other market such as gold, bitcoin, oil and the S&P.
FTSE - Cautiously Bearish Bullish signals for Q2 and in each of the previous 3 weeks had been confirmed, but a near 1,750 Pt improvement since March’s 9 year low had left daily signals for sentiment overstretched and testing the 62% recovery to the entire 2020 sell-off, keeping last week’s signals just very cautiously bullish. An initial over 50 Pt improvement has in fact attracted profit selling, sentiment deteriorating by over 500 Pts from the top. The sell-off is probably corrective and temporary but in the absence of a buy signal the outlook for this week is bearish and the call is to sell on the open and then at 6204, Thursday’s Marabuzo Line with a stop loss at 6388.0, Wednesday’s top. Targets are to 5993, Friday’s Low, 5888.0, the 22nd May base and 5645.0, May’s low trade.
UY100 FTSE100 - Wave AnalysisLet's do some Wave counting on the UK100 the FTSE100
4 weeks ago, I did an analysis but it did not do that.
Now once again its showing signs of another Wave 5 down.
This is confusing me though.
Now I'm thinking all the worlds buying stocks so will they sell the UK 100 companies? lets find out
I will also use the 10 Seconds to Elliott Wave Concept to Count The 5 Waves inside what could be a Wave 1 down.
$UKX Hourly - lovely bounce off support, waiting for reversalLovely bounce off lateral support as expected...now we wait patiently for signs of a reversal
$UKX Hourly Building up for another larger H&S?False break higher in wedge confirmed = bearish. Potentially better short entries points coming up
