Get started

UK100 CFD

FTSE - Fading gains, more downside expected. UK100 is Bearish - We look to Sell at 5860 ▪️ Overnight price action has drifted lower and remains pressured by the medium term bearish bias. ▪️ Levels close to the 61.8% pullback level of 6000 found sellers. ▪️ Broken out of the channel formation to the downside. ▪️ We look for a re-test of the upward trending resistance. ▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 5860, resulting in improved risk/reward. ▪️ Expect trading to remain mixed and volatile. Stop: 5890 Target1: 5665 Target2: 5630
FOREXCOM:UK100Short
by Signal_Centre
FTSE - Selling a re-test of the channel UK100 is Bearish - We look to Sell at 5965 ▪️ Overnight price action has drifted lower and remains pressured by the medium term bearish bias. ▪️ Levels close to the 61.8% pullback level of 6000 found sellers. ▪️ Broken out of the channel formation to the downside. ▪️ We look for a re-test of the upward trending resistance. ▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 5965, resulting in improved risk/reward. ▪️ Expect trading to remain mixed and volatile. Stop: 6015 Target1: 5665 Target2: 5500
FOREXCOM:UK100Short
by Signal_Centre
FTSE - Selling a re-test of the broken channel UK100 is Bearish - We look to Sell at 5933 ▪️ Broken out of the channel formation to the downside. ▪️ We have a 50% Fibonacci pullback level of 5936 from 6209 to 5665. ▪️ Positive overnight flows lead to an expectation of a firm open this morning. ▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 5933, resulting in improved risk/reward. ▪️ Expect trading to remain mixed and volatile. Stop: 5983 Target1: 5665 Target2: 5627
FOREXCOM:UK100Short
by Signal_Centre
UK100 - Correction May Not Be Over Just YetThere's an interesting battle building up in the FTSE 100 (UK100), after which we should have a much better idea of whether this rebound has legs or they're going to be sweeped from underneath it. The charts were starting to look quite promising. We had a clear uptrend and price broke back above the 200/233 period simple moving average band on the 4-hour chart. Then we ran into our first obstacle on the daily chart, the 55-day SMA, which is when the profit taking kicked in. This took us back below the 55/89 SMA band on the 4-hour chart where we're now testing the 200/233 band. So far, the 38.2 fib is holding within the first band but that doesn't mean much yet. A break back through 5,800 would add some promise, especially if combined with a significant close above the 55/89 SMA band (4 hour chart). Obviously, that doesn't necessarily been it's correction over but it's a major hurdle overcome. Given the initial trend line break, failure of 55-SMA (daily) and immediate resistance around the 55/89 SMA (4hour) band, I fear more pain may be in store for the FTSE. This still looks like more of a corrective move but maybe one that has a little more to run. The area around the 50 and 61.8 fibs may appeal more, should the 38.2 fib and 200/233 band fall.
OANDA:UK100GBP
by OANDA