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FTSE 100 Bear Flag (Updated)I'd like to refine my past post on the FTSE 100 Bear Flag - to give it a bit more strength. There's a key level of support (now resistance) in white. This is a right-angled descending broadening wedge that's been forming since Feb 2017. The white support of this pattern neatly intersects with the blue colour Bear Flag as of April 29 (Today) I think this adds a little more to my conviction that this uptrend has hit the end of the road. Adrian
TVC:UKXShort
by UnknownUnicorn4296366
Bear Flag (FTSE 100) UKX - And Hopefully Not A Triangle!?There are many suggestions that we're seeing an ascending triangle (with a confirmed breakout) on the UKX. The white horizontal line shows the resistance of the Triangle. Something just didn't feel right for me on that pattern - particularly the 'breakout' which seemed muted and weak considering this multi-week build up. Instead I'm suggest a bearish flag in blue, which is more common in bear markets. If correct - that would suggest an aggressive move to the downside, way below the support, in the coming week. For now I'm holding onto my short. Keen to hear your thoughts!
TVC:UKXShort
by UnknownUnicorn4296366
1
UK100 - Breakout Imminent?Recent price action in the FTSE 100 has certainly been encouraging but it may be a little early to celebrate. The pull back a couple of weeks ago was very brief and never really gathered any momentum. Moreover, broadly speaking price never held below the 55/89 simple moving average band on the 4-hour chart, which could be viewed as bullish. Since then we've seen a series of higher lows and the index has broken and held above the 200/233 SMA band, another bullish signal, as it's traded below here since 20 January - surviving a few tests along the way - and we all know what followed then. If the index can break 6,000 then any hope of a test of 5,450 - 50% retracement of lows to April highs - may well be lost and the bullish buzz may once again kick in. This is a huge earnings week for the US, the next 48 hours or so of which will be pivotal. If stock markets can get through that unscathed, even encouraged, it could be the catalyst for another strong rally, with 6,200 being the next test but 6,500 the next key level.
OANDA:UK100GBP
by OANDA
FTSE Triangle pattern breakout oportunityOANDA:UK100GBP [/symbol Triangle breakout opportunity several indications on eminent breakout - Last two weeks candles closed bearish hanging man - Seems like we finaly reached the end of this triangle patter build up - Macd divergency - RSI divergency it can go either way but the last two week candles combined with the MACD & RSI divergencies indicate a possible breakout on the short side. The fundamentals are also no good so we have a good oportunity here to set up our shorts long. Strategy: - wait for confirmation of the breakout and possibly a retest - Place small position for long target Profit2 - Place a normal position aiming the Profit1 target
FX:UK100Short
by Hybriss
UK100 - Late Rally Changes Nothing (Yet)We've seen a bounce in the UK100 in the final hours of trading on Monday but I'm far from convinced this changes the near-term outlook for the index. Firstly, the MACD and stochastic on the 4-hour chart don't suggest there is enormous momentum behind the move, even if it is still early on. Secondly, no key resistance levels have been broken. Of course, there's plenty of time for this to happen but until it does, this is still a chart that looks vulnerable to the downside. Should the downside materialize, the same levels apply, with 5,500 being the first test and 5,350 below looking an important level. As far as the upside goes, small gains don't change the outlook unless we see a clear break of 6,000. This would wipe out the previous highs and break the 200/233 simple moving average band in the process, at which point the outlook would look much more bullish. At this point, 6,200 would appear to represent the next test for the index, with 6,500 being a major level above.
OANDA:UK100GBP
by OANDA
UK100 - Bear Market Rally or Market Bottom?It's been quite a 24 hours in stock markets, with risk appetite suffering due to a combination of factors including earnings and global recession warnings. This was always going to test this new-found bullishness in the markets. As always, these may have been the catalyst for the sell-off but there will be other underlying factors as well. For example, just prior to stocks turning red, the Dow has made up 50% of those remarkable losses incurred in late February/early March and peaked around 24,000. It's not altogether surprising that this was viewed as a good time to take some cash off the table, especially going into an incredibly unpredictable earnings season. Whatever the reason, the break of the trend line suggests the near-term trend has shifted and stocks may come under a little pressure. The 55 and 89 SMA band on the 4-hour chart could be an interesting first test, coinciding with prior support and resistance, potentially even triggering a little retracement to the upside. But if that's all it is - and I suspect it may be - the real test lies around 5,350. This is the 50% retracement level of the move from the lows to this week's peak and could tell us whether this is a bear market rally or a bottomed market with strong upside potential. A break of 50% doesn't confirm the former, it should be stressed, but it would certainly strengthen the case. Below here 5,200 will be interesting (61.8%).
OANDA:UK100GBP
by OANDA
SPX and other markets since 2020Hi Guys, this is a comparison of the moves made by various markets since the beginning of 2020 using same tools/narrative: 1) from 0 to A represents the downhill provoked by COVID19; 2) A was made when the FED used its "bazooka" (2200 same level when Trump was elected US President); 3) a pullback or "bear rally" occurred from A into Fibonacci Retrecement levels or 200SMA. DOW NASDAQ DAX FTSE OIL GOLD Thank you for your support and for sharing your ideas. Disclaimer: Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities. IMHO: The point of trading is to make money. To make money you must have money. Depending on the money at your disposal, you can decide what to do and how to do it. By having stops you decide how much you are willing to lose. By having targets you decide how much you want to earn. Be disciplined with your protocol and with your strategies for trading. Sometime you win, sometime you lose. Don't be greedy. Be realistic. Be wary but not afraid. Be curious. Use your brain. As long as your working process make sense and your spirit is calm, everything will be fine. Be patient and be prepared for any circumtances.
OANDA:SPX500USD
by cozzamara
1
6,000 a Huge Hurdle For the FTSEStock markets have been on a good run since late March, with the FTSE bouncing back around 20% from its lows to within a whisker of 6,000. The rally looked to be running out of steam around 5,800 but a late surge on Thursday, backed by momentum, quickly changed that. Unfortunately though, we've since seen a bearish engulfing pattern on the 4-hour chart which begs the question, is 6,000 a step too far? Is there really good reason to be this optimistic as we head into the most horrific earnings season in years, probably decades? The momentum indicators will be key for me here but a break would send a strong signal and suddenly 6,200 doesn't look too far away, where it found resistance last just over a month ago. The big level above here though is 6,500. That may be a step too far at this stage, although a lot of bad news seems to be priced in - based on the free pass the horrible data we're seeing is getting - and there is an unprecedented amount of stimulus floating around this system. The usual rules may not apply. Earnings season will be the true test of this. A break below the rising trend line (granted - only two touches, but useful none-the-less) may signal that some profit taking has kicked in and patience is needed. If so, that's fine, it's been an impressive rally under these extreme circumstances.
OANDA:UK100GBP
by OANDA
Dow Jones Intraday Short *HEAD & SHOULDERS*There is potential to get in on a short trade on Dow Jones at 23,500 level thanks to a very clear head and shoulders pattern forming on the 15 minute timeframe. I have circled the key points to the patterns and the 23,500 seems like good resistance with prior rejections occurring there. A short here and sell-off could see price reach the daily pivot level or lower. Be careful as there is high impact OPEC/Oil related discussions today that will likely move markets if anything shocking happens.
OANDA:US30USDShort
by UnknownUnicorn772665
3
FTSE100 To Test Major Support Level SoonFTSE100 (UK100) tries to hold 5600 after multiple failed attempts to overtake 5800. It is currently sitting on a support level. The 4-hour chart is showing us that it is in a descending channel that could form into a bullish flag. What do we have here? ✔️ Descending Channel Following Longer-Term Downtrend ✔️ FTSE100 - Losing Support Level at 5600 Thank you, Connor, Please feel free to follow me to get more analysis. On Tradingview I share 1hr, 4hr, 1D, 1W charting analysis across major instruments only. For more short term analysis and trading ideas please subscribe to The Margin Call.
OANDA:UK100GBPShort
by UnknownUnicorn309537
Where will the FTSE Index bottom, or has it already....We have just experienced the largest market sell-off in history, just few weeks ago it was difficult to see where price would find some support - especially when market circuit breakers where triggering left, right and centre. As we're in the midst of the largest global health/economic crisis for at least the past 100 years, its clear the aftermath ripples of COVID-19 will influence some aspect of our daily lives for a long time...At this point it looks like we are headed for The Great Depression 2.0. However, recently market sell-offs appear to have slowed down, as it looks like price has possibly found a little support. But in a general downtrend, its completely normal for market movement to slow down multiple times, even have a some small rallies to the upside before continuing to lower levels. The FTSE 100 seems to have found support at c.4,900 level, however if it doesn't hold above this level, then it's highly likely that we are headed towards the c.3,500 area - bringing us back to the bottom of the last financial crisis. If the market does play out in this way, then there will be some epic shorting opportunities ahead. In the meantime stay safe readers, and I would like to leave you with the below thoughts from our good friend, which summarises the good old days (pre COVID-19) perfectly..... "We're the middle children of history, man. No purpose or place. We have no Great War. No Great Depression. Our Great War's a spiritual war... our Great Depression is our lives. We've all been raised on television to believe that one day we'd all be millionaires, and movie gods, and rock stars. But we won't. And we're slowly learning that fact. And we're very, very pissed off" - Tyler Durden
TVC:UKXShort
by PavanUK