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Ftse100long

🥊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 :).
TVC:UKX
by BangkokCharts
UK100: Daytrade-SETUP#BUYHey tradomaniacs, welcome to another free signal! Instructions: Wait for the break above the entry and wait for a retest/rejection before you buy! ----------------------------- Type: Daytrade Buy here: 7147,4 Stop-Loss: 7094,8 Target 1: 7200 Target 2: 7227 Target 3: 7269 ----------------------------- LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me. Any questions? PM me. :-)
OANDA:UK100GBPLong
by Trading2ez
UK100: Daytrade-Opportunity! Very nice chance to BUY!Hey tradomaniacs, welcome to another free signal! Important: Bank of England Interest Rate Decision today! Volatility likely! Close your positions or get rid of your risk until then unless you accept the risk to get stopped out! ----------------------------- Type: Daytrade Buy-Stop: 7578,3 Stop-Loss: 7537,9 Target 1: 7623,1 Target 2: 7643,5 ----------------------------- LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me. Any questions? PM me. :-)
OANDA:UK100GBPLong
by Trading2ez
UK100: Day-Swingtrade-OPPORTUNITY#LongHey tradomaniacs, welcome to another free signal! Important: Wait for the rejection at the Trend-FAN and the Breakout above the resistance! ----------------------------- Type: Day-Swingtrade Buy-Limit: 7544 Stop-Loss: 7510 Target 1: 7591,5 Target 2: 7609 Target 3: 7641,2 ----------------------------- LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me. Any questions? PM me. :-)
OANDA:UK100GBPLong
by Trading2ez
Elliott Wave View: Short Term Support in FTSEShort term Elliott Wave view in FTSE calls the move lower to 7150.9 on May 13 as wave A. This suggests that the move lower from April 23 is unfolding as a zigzag Elliott Wave structure. Wave B bounce is currently in progress to correct cycle from April 23 high before the Index turns lower. Internal of wave B is unfolding as another zigzag Elliott Wave structure in lesser degree. Up from 7150.9, wave ((a)) ended at 7360.34 and wave ((b)) ended at 7267.84. Wave ((a)) unfolded as 5 waves where wave (i) ended at 7264.18 and wave (ii) ended at 7223.08. Index then resumes higher in wave (iii) which ended at 7353.51, wave (iv) ended at 7307.33. and wave (v) of ((a)) ended at 7360.34. While short term dips stay above 7269.33, expect Index to extend higher. Potential target for wave ((c)) of B comes at 100% – 123.6% extension of ((a)) which is 7477.9-7527.39. Index also should not break above May 13 at 7528.93 or else it will open further upside. If Index instead breaks below 7267.84, then either wave ((b)) is unfolding as an expanded Flat structure or wave ((c)) of B truncates and Index has turned lower.
TVC:UKXLong
by Elliottwave-Forecast
FTSE Elliott Wave View: Buying Opportunity SoonHello Traders, In this short-term analysis, we will have a look at the FTSE100. FTSE cycle from 3/28 low is proposed to be completed at 7904 high in black wave ((1)), below from there the index is correcting that cycle & expected to find buyers in 7-11 swings provided the pivot at 6867 low in our proprietary distribution system stays intact. Short-term it has ended the cycle from 05/22/18 peak (7904.55) at 05/29/18 low (7609.8) in blue wave (W) and ended the correction to that cycle in blue wave (X) at 06/04/18 peak (7774.2). While pullbacks stay below blue wave (X) peak, it is expected to see more downside to the equal legs - 1.236 extension area of blue ( W ) - ( X ). We don’t like selling it and prefer buying the dips at the extreme areas in 7-11 swings as far as pivot at 3/26 low (6865.8) stays intact.
TVC:UKX
by Elliottwave-Forecast
FTSE finding the floorIdea: This week I have been working on flipping time on my strategy to see how the time taken to complete a trade is effected. I have been working on reducing my time frame from 4hr charts to 15min charts. Entry will be on a small time frame chart and exit on a larger one. The exit will rely on a time target instead of measuring the previous trend and predicting the profit with RSI. Pros: If I can time the exit it will make managing the trade less work intensive & give me more time to look for new trade opportunities in a large variety of other instruments. Cons: The trade has a time limit instead of a profit goal. The p&l is unpredictable at the entry of the trade. I am going to set a 7:1 as a goal and track how it progresses. DISCLAIMER: This is where I practice ideas and work on my trading techniques. Please note I am only providing my own trading information for insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal. Trade at your own risk.
TVC:UKXLong
by fionnablack
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