FTSE 100, Consolidating, This Scenario Can Alter The Situation!Hello Traders Investors And Community,
Welcome to this analysis where we are looking at the FTSE 100 Index, what it is currently doing, the overall formation, the possibilities when certain confirmations occur, and how to handle upcoming changes. The FTSE is an index which has developed a longer consolidation period after its recovery approach from the corona breakdowns seen this year, the big question as it is also the same in other major indices is if this recovery can sustain further within a healthy unspeculative market environment or if there is more downside ahead especially when an increase in corona shows bearish downside action similarly to those mechanisms seen this year.
Looking at my chart you can watch there that the index is trading in a longer stretched descending parallel channel which is marked in red where it is consolidating slightly to the downside and already touched the upper and lower boundary several times, such formations tend to break out sooner or later and the longer such formations develop the heavier and more volatile the breakout will be. Technically speaking the consolidation can go on more time when there is no positive news event which is altering the situation immediately to the upside, furthermore, the wave count establishing supports this scenario where the final wave E can form over the next times while the upper boundary confirming bearish again this final wave is not far away and within the high possible range. When this happens and the final wave develops the index has some solid support at the Fibonacci-support seen in my chart which is the 50 % level of the whole wave up, this support is also matching with the lower boundary of the channel where a bounce can be given and expected. When the index bounces in this area it can move on to confirm the bull-flag which will activate targets way above the range but the importance is to show up with the confirmation.
This possible bull-flag breakout can confirm a healthy bullish edge but that does not mean the whole index is completely bullish as there are still strong resistance levels and the index is trading way below its all-time-high-condition, therefore we should not keep the bearish scenario fully by side here, the bull-flag can confirm bullishness on the short and long-term but that does not mean it will definitely go up into the long term as well, in this case the bull-flag can be traded on the long-side but it should be seen crucial when it is approaching resistances in the range above.
In this manner, thank you for watching the analysis, support for more market insight, and all the best!
Information provided is only educational and should not be used to take action in the market.
Ftse100
FTSE Elliott Wave Analysis for Tuesday 12/09/2023As expected we went back into the wave X area to take out the previous high. This means we get an additional correction up as a wave X. This correction up does not look complete yet. We need at least one more high. Wave X up should be followed by further downside as a wave Y.
FTSE Elliott Wave Analysis for Monday 11/09/2023 (+ Higher TF)For traders (lower timeframe):
The primary expectation is now that we will go back into the wave X area to take out the previous high. That would mean we get an additional correction up as a wave X. This move should be followed by further downside as a wave Y.
For investors (higher timeframe):
In the higher timeframe, investors should wait till the higher degree WXY correction is finished. It is still early but we are approaching the first relevant areas.
FTSE Buy signalThe FTSE 100 Index (UK100) is consolidating on the 1D MA50 (blue trend-line) for the 5th straight day. This is the first pause to the uptrend that started on the August 18 bottom, right on the 6-month Support Zone.
With the 1D RSI still not close to the overbought barrier and the 1D MACD on a Bullish Cross, this is the last bullish signal towards the Lower Highs trend-line. Our target is 7690, just below the Resistance Zone.
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FTSE100 - Short SetupFTSE100 D1
Moved up a timeframe here for the FTSE100 analysis, we are starting to see some rejections for the second day here. A little different to the play we can see on the DAX, the DAX looking very bullish thus far. That being said, could simply be a second entry/retest offering.
Indices trade and analyse a little different to FX. We base our entries and zones from less confluence and more impulse due to the volatility they bring.