UK100 CFD
Index UK100 aiming for Bear -LongBuyLongSellIndicator AnalysisDaily Chart view with LongBuyLongSellIndicator is used for this analysis.All details of this indicator is in my script page.
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The UK100 index following a harmonic pattern of Up and Down that is well matched with LongBuyLongSellIndicator Candle and BackGround colors.
Before moving on this analysis just have a look how the LBLS indicator is working.
Coming to the analysis the Blue marked top is the zone and UK may try to touch this before reversing ,however it may start falling immediately as the Global market trends are weak.
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OANDA:UK100GBP
UK100GBP, We are close to Historical High!!!The price is near the Historical High 7904.4.
A huge chance that it will bounce down.
The best place for Sell entry will be under the High after the false breakout.
Potential profit will be in 3...5 times bigger than risk.
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BT Group - Filled the gapBuy BT Group (BT.A.L)
BT Group plc is a communications services company. The Company is engaged in selling fixed-voice services, broadband, mobile and television products and services, as well as various communications services ranging from phone and broadband to managed networked information technology (IT) solutions and cyber security protection.
Market Cap: £18.96Billion
BT has broken out of a channel pattern on the daily chart. The shares recieved a boost following the Conservative win in the General Election and the shares gapped higher. We have now seen that gap get filled, which should attract fresh buying interest.
Stop: 181.6p
Target 1: 212p
Target 2: 230p
Target 3: 265p
Ready to Short ?The UK100 was trading in a range for the last couple of months and now is trading near the top of the range, we could have a good opportunity to short it at 7420-450 technically we have more than 70% probability for this trade to be accurate
The range is between 7060 and 7425 , and the UK100 is at 7385 right now we could wait a little to short it somewhere between 7400 and 7425 to target 7060 again
My strategy if to short it with a first line now at 7385 and a second line between 7400-7425 with a stop loss at 4760 and a target at 7240 this scenario is invalid if we close above 7450
UK100: Could the slide bellow 7,190 extend?FTSE100 (UK100) index is also an interesting one to watch this week. The index was bounded in a range above 7,000 handle since August. Note that FTSE has been in a loose inverse relation with the pound since the Brexit referendum.
So, in case of a clear Conservative win this Thursday, a strong rally in both the pound and FTSE would be a strong sign of return in investor confidence. Take in mind that the UK elections are held when markets are open, and a new government may be formed on Friday, so volatility could be significant throughout the night and also during all day at Friday.
UK100 index were steady on Monday after posting the biggest weekly loss in 9 weeks last week. A firmer pound prevented more extreme gains as the latest poll showed the Conservatives increasing its lead over Labour by two-digits percentage points.
The UK100 index is trading below the 50-day and 200-day SMAs on 4-hour chart. The RSI indicator is sloping down on both H4 and D time frames. This morning FTSE broke the first support at 7,200. We opened Short position at 7,190 with Stop Loss above 7,250 and Take Profit around 7,130. There is located the lower line of Bollinger Bands on 4-hour chart and since October this level is acting as key support.
On opposite side, the first resistance is the top in the last 3 days at 7,256, followed by H4 50 SMA, middle line of BBs and 200 SMA (on both H4 and daily charts is around 7,320).
Do you trade this index and how?
FTSE Bottoming Pattern on 4 Hour Trade/ British ElectionsJust before I talk about this trade, just a fair warning that the British Elections are this week on Thursday December 12th. So a high risk event, and will be dominated by Brexit promises.
I have spoken about how Central Banks in the Western world are stuck, and they are now attempting to maintain confidence in the system. They want to go back to easing and QE but remember, QE was supposed to be a one time desperate policy to prevent a 1920-30's like great depression. When we go back to QE, people will realize it did not work in the first place. They will use different names to mask QE, but this is the confidence crisis that looms.
These central banks have one role now: to keep assets propped. This will eventually be morphed into buyers of LAST RESORT (instead of lenders of last resort...which was the central banks original mandate when they were first being formed).
I am expecting higher equity prices in the US because there is nowhere to go for yield anymore. Also, many investors know the Fed will support this market. Not to mention the President needs high stock markets if he wants to win the next election using "Keeping America Great" slogan.
Yes, we will have pullbacks, but equity markets will go higher. I speak about why this can be a problem for the Fed and the US Dollar. Post linked below.
In terms of the current FTSE chart, we did make a bottoming/ double bottom pattern at a flip/support zone. From here, we had a nice break above a flip zone marked in blue, a strong break, and now it seems we are making our first higher low which will be confirmed with this current 4 hour candle close.
Target will be the flip zone at 7340 for the trade.
UKX Price Action Analysis | Distribution SchematicThe Distribution Schematic #2, by Richard Wyckoff:
bit.ly
UK100 is currently in Phase D and has already done a Bearish SFP, which indicates a possible downtrend. This seems like a nice example of the Distribution Schematic #2 and also has a fundamental background due to #Brexit. Rest is Risk Management.
Entry: 7390
SL: 7810
TP-1: 6910
TP-2: 6610
TP-3: 6360
R/R: 2.44
Please let me know if you have any suggestions or any ideas to add. I can also give you more detailed explanation for this specific trade setup.
The ideas published here are not financial advices.
FTSE 100 - Can it clear the cluster of resistance?We look to Sell at 7445
Bespoke resistance is located at 7445
Positive overnight flows lead to an expectation of a firm open this morning
We have a 61.8% Fibonacci pullback level of 7432 from 7729 to 7003
Although the anticipated move lower is corrective, it does offer ample risk/reward today
Expect trading to remain mixed and volatile
Stop: 7485
Target 1: 7275
Target 2: 7205