Lets Go Short – Double Top On The UK100Hi Traders,
Today we are on the UK100
In the 4-hour time frame, we see a nice double top.
My entry was the deepest point of the neckline.
I waited for the price to retrace to the deepest point at the top of the resistance of the neckline.
My short position opened then.
I had confluence from the divergence across the MACD as well as the large bearish volume that occurred during the impulsive break of the neckline.
My target is previous support which gives me a Risk/Reward of 1/2
Have a good Tuesday!
The Vortex Trader
UK100 CFD
UK100 BEARISH PATTERNUK100 CFD had broken the support of the triangle pattern that was formed on the 1H graph. The histogram of MACD indicator is still below the zero line, also confirming a bearish outlook for the instrument.
If the price of the instrument continues its current movement, it might reach levels below 7040. On the other hand, if price reverses, it will most probably test the resistance of the triangle at 7350.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
FTSE100 Turning Time?FTSE100 is not a growth index but value based. We debate inflation but entered in recession talk, for FTSE100 consumer stands strong is very important but UK Govt inject money again but it is not a solution. Index got a big part over 17% OIL shares but Oil can slip at some point.
UK100 13th JUNE 2022100 selected UK big companies that are components of the FTSE 100 index, only 9 stocks record gains, while 91 stocks losses and 1 stock traded unchanged. Bearish trend may end this week. I see a bullish potential, the price is in the weekly strong support area. With a tail tolerance of 4.3% below the support area. Price is possible to be bullish in the future.
Reverse Head and Shoulders - Beautiful ThingThe funny thing about this trade to me was how I traded this so wrong and absolutely got, well I traded this wrong. To read the very next day from a book so close to me about trading. Doh, reverse head and shoulders! And what's even more fun, is the failed reverse head and shoulders (not depicted here). Got me twice. :) Wont get me again. This was the UK100 15 minute.
FTSE - Strength to continue? UK100
Intraday - We look to Buy at 7500 (stop at 7445)
Previous support located at 7550. Previous resistance located at 7620. A lower correction is expected. Risk/Reward would be poor to call a buy from current levels.
Our profit targets will be 7620 and 7650
Resistance: 7620 / 7650 / 7700
Support: 7550 / 7500 / 7450
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LSEG looking leggy - SELLREASONS TO BE BEARISH
Recently lost the 100 week SMA and just re-tested it for resistance
Fell out of the exponential green top zone in March 2021
As far as the RSI is concerned, broke into the bear zone (below 40) and confirmed it for resistance failing to reclaim 60s
Target of 2,700p would coincide with the 0.618 fib retrace of the entire move from March 2009
This would take us back to Jan 2017 levels
Only saviour for the bulls would be to reclaim the 100 week SMA, given we are still in the upper-half of the exponential channel
That said, with only air below, I don't see the mid-point of the channel (at 6,400p) holding in the months ahead...
Not a terrible risk/reward entry for a short from these highs....
FTSE 31st MAY 2022OANDA:UK100GBP have no power to breakout above the highest resistance area Aug 2019 - Jan 2020. Last month UK100 was bearish to the diagonal trendline support, and returned to the horizontal resistance area . However, at the end of 2021 there was a bearish divergence signal. where the price is bullish but the flat indicator value tends to bearish.
Bearish potential on the UK100 Weekly, Check this out :
UK100 Weekly
Timeframe. According to the stochastic 5 3 3, it seems to be back in the overbought area, it will be strengthened to bearish if the indicator crossover.
FTSE100 One of the best index buysThe FTSE100 index is approaching its 2022, a rare feat among the leading global stock indices, the majority of which are making Lower Lows. This strength is technically derived by the bullish dynamics of the Fibonacci Channel Up it has been trading in since 2021, which only broke during March's correction.
The price action since April 10 is similar to the sequence of August 11 - October 11 2021. The bottom on both pattern was made after the 1D MA200 (orange trend-line) broke. The latter sequence went on to make a Higher High on the 1.382 Fibonacci extension. That extension on the current pattern is around 7860 and that is our Target by July.
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UK inflation rise to 9% despite 4 rate hikesUK facing high inflation and it breaking 40 years record, BOE rises 4 rate hike in row but price not going down. Even UK economy is different from US but we see FTSE100 did same like US markets in 2020 -35%, 2008 -48%, 2001 -52%.
It's clearly not investment season and stocks like WMT, TGT also dropped badly other side bonds dropping. We can not say Cash is Trash in this season. I think now holding is cash is only best option and we can expect stocks will available more cheap (20% to 30%) in 2 to 3 months.
UK100 Index Intraday Analysis:UK100 loss all of its gains after the announcement of negative non farm productivity. UK100 took rejection form 7617. My target is support of 7461.
If you like this or if you think the opposite of this or if there is any other opinion, mention it in the comments. I am open to all kind of suggestions and critics
Why I shorted FTSE 1000 upon market openThis is the first time I traded FTSE. I used the same theory as trading FX and here is what I saw.
1) The high of last week was present at 7581
2) There was a nice harmonic pattern to sell
3) M15, M30 and H1 divergence in place.
The pair is now oversold. I have taken half the profit out after learning a tough lesson from the last 3 trades :). Switched to breakeven and hoping for a bigger drop.
04/05/22 DEAL FTSE 100 Cash (SD1) SD SD30.10
Funds: SD10,243.03
UK100 SHORT IDEAPrice has rejected main resistance level, 4H candle just closed as bearish engulfing so I'm expecting to price comes down to the previous low level since the main pattern on Daily and weekly are channel UP I believe it will touched there and bounced back up.
UK100: A Great Buy Setup from the Long-term Uptrend Line UK100 has recently touched its long-term uptrend line, bounced up twice from the line and formed a potential double bottom pattern. We can see that price has touched this uptrend line many times in the past and then reversed by forming reversal patterns. Therefore, we will be looking for buy opportunities at this stage.
Our task now is to wait for a neckline breakout of the double bottom, which is the criteria for a reversal. Once price breaks the neckline, we will put buy limit orders at the neckline to capture the pullback. Our first target is the previous high from where the price has fallen, which is the 7650 level. We can see from the past reversals that when price jumped from the trend line, they all retraced back to the previous high.
FTSE Trading The CorrectionIn this update we review the recent price action in the FTSE and identify the next high probability trading opportunity and price objectives to target.
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FTSE EXPECTED DOWNTURNFTSE might be headed for correction after slowed down growth among supply problems due to the war in Ukraine and the COVID outbreak in China, which is pushing up costs to a levels last seen in 1970s.
FTSE will most likely drop to its previous low of 7339 and from there it might try to test its previous low of 7050. If it decides to reverse, it will most likely test its previous high at 7675.
Both technical indicators MACD and RSI are showing slow down of the bullish trend.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.