UK100 CFD
FTSE updateThe break happened by the book and going well. Now at small resistance zone, a pullback here would be welcome as we could add another long at the low of the pullback. Going to small time frames to see catch that low. This is the start of the B wave.
End of summer today so many traders and investors will be closing trades. Expected high volatility at the end of London session and New York session.
Good Luck!
FTSE updateWave analysis shows that we could be nearing the end of wave A. Very good support of 61.8% at the key 7000 level. Great opportunity for a long there as GBP sells off on the potential of Parliament being suspended in September-October.
Boris trying to get the government out of the way so that they can not interfere with his Brexit plans.
Also a downtrend line from August 12, respected and confirmed. If it break we could see it going into wave B from there to retest broken level around 7400.
Indicators going back close to oversold, adding more probability for a potential bounce.
Good Luck!
Greatland Gold - Small cap gold miner about to rally?Been watching this lately as it has been appearing in my scans. The trading volume appears to have been quite consistent in recent weeks and trend of higher lows is encouraging.
The close above the 10 EMA is a cue to buy and target the resistance above.
Target: 2.55p
Stop: 1.644p
Howden Joinery - Throw the kitchen sink at it?Technical
Howden Joinery looks interesting on a technical basis. The shares shot higher to new highs following a bullish update to the market. We have since seen the share price unwind to some sensible levels as the overall market continues in this condolidaiton phase. The shares have reached a confluence of Fibonacci support levels, which I have highlighted on the chart. We have seen buying interest emerge and a gap higher in price to break out of a consolidation wedge. The overall trend remains bullish and a move to new highs is expected.
Fundamentals
The UK’s leading manufacturer and supplier of fitted kitchens, appliances and joinery products has been paying dividend yields of around 2.5%. Howden ended the reporting period with net cash of £217.1m, which makes its forward P/E multiples of around 14-15 look attractive.
Stop: 505p
Target: 600p
Ocado - Looking ripe for buying.Technical
Ocado has had a dramatic rise in price over the past 18 months. The breakout level at 1163p has been retested and has so far been well supported. The shares have been in a consolidation phase for the past few weeks, but some signs are emerging that could put an end to the sideways price action. A move back to and above the previous highs is expected from here.
Fundamentals
The company continues to make strides into technology, which offers potential medium-term growth.
Numis reiterated thier 'Buy' rating on the 10th May 2019 with a price target of 1700p
Ocado has announced a string of deals and recently tied up a joint venture with Marks and Spencer.
Stop 1105p
Target 1500p
UK100, BREXIT,BEARISH WOLFE WAVE #RRR of 1:5 (AUTOLINES TEST4)HI BIG PLAYERS,
here I present a new Wolfe Wave in the UK100 chart.
This chart represent the 100 biggest share-companies of Great Britain. In any way we listen about the Brexit and the results of this decision is clear to understand for everbody. A big downtrend will build.
The Wolfe Wave pattern show a bearish incoming side. In addition, the reason for a bearish Wolfe Wave is the rebounce on Fibonacci line 1.382
Acutally the pattern give a Risk-Return-Ratio of 1:5, but this are a weekly chart and shows a longterm bearishtrade.
King regards
NXT2017
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My strength in trading are Wolfe Wave pattern.
FTSE 2 hour ideaSimilar to my Dax idea just posted, a lot of world equities are bouncing...remember central banks can still cut rates and do QE/stimulus which means there will be nowhere to go for yield except the stock markets. The party might not just be over yet.
Similar description to the FTSE as with the DAX, a prolonged downtrend and basing at a support zone. We had a wedge and broke above the resistance zone and even the previous lower high swing.
7375 zone is a flip zone you should watch and then 7575 above.
FTSE100 UKX Long Trader / OpportunityFTSE100 Fell more than 7% from the recent highs from 7700 without any retracement. We can expect this whole move to retrace at least 38% from the bottom towards 7400.
We can go long on this if FTSE gets above 7200 after stock market open. Stops 6990 target 200pts
UK100/GBP Could aim higherThe UK100/GBP pair has been appreciating in an ascending channel pattern since the beginning of June. The pair reversed north from the lower boundary of the channel pattern at 7088.8 on June 3.
The 200-hour simple moving average was providing support for the pair at 7481.0 during the morning hours of today's trading session, while the 50– and 100-hour SMAs were providing resistance at 7539.1.
Most likely, The UK 100 index could continue its upward swing during next week's trading sessions. The potential target for bullish traders would be near the weekly R2 at 7640.2.
However, the resistance cluster formed by the 50– and 100-hour SMAs might provide resistance for the pair in the nearest future.
UK100 - Remains under pressureOANDA:UK100GBP FX:UK100
UK100 - Intraday - We look to Sell at 7500 (stop at 7525)
The previous day's bearish engulfing candle led to further selling yesterday. Previous support level of 7475 broken. The overnight dip has been bought into and there is scope for further bullish pressure going into this morning. The reaction higher is positive, however, we view this as an opportunity to set shorts in line with the overall bearish move lower. Further selling is expected to follow with the hourly Ichimoku cloud and our bespoke resistance (7500) offering incentive.
Our profit targets will be 7425 and 7400
Resistance: 7500 / 7525 / 7540
Support: 7460 / 7425 / 7400
FTSE 100 - Long We are currently long the FTSE 100 which has dropped over the past day on the back of Boris Johnson's appointment and the subsequent strengthening of the pound. The pound strengthened as the market hopes that initial comments by Michel Barnier the European Union's Chief Negotiator would open the door to positive negotiations between the UK and the EU. However, we believe that with the UK set to leave the EU on the 31st of October there will be pressure on sterling in particularly GBP/USD which would be positive for the FTSE100 as a large proportion of profits for FTSE 100 companies are made in dollars. Therefore we are long and will look to add to our long position just above the 7298 Fibonacci level with a view towards starting to take profit above 7700.
UKX FTSE100 1hr rejection from 7600FTSE 100 has rejected 7600-7590 area in the 1hr time frame, 3 consecutive times suggesting that a correction is possible.
If FTSE100 breaks below 7550 (23% fib level) we can see a correction upto 60% Fib levels at 7440-7430 levels.
But FTSE needs to break below 7550 to trigger this trade.
Stops should be above the recent highs.
FTSE100 TO RALLY INTO DAILY HIGHSFTSE100 has recently tested a key demand zone and formed bullish price action.
We can expect this market to continue higher with targets being the daily highs.
The price is also supported by the 20 and 50 EMA pointing upwards with price rejecting
the key demand zone and the 20EMA.
UK100 // DAX30 - LIVE TRADING - STAY TUNED FOR THE UPDATES Pay attention to the updates section as I will be posting when I will be entering my trade.
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The analysis is made based on order flow using Volume Profile + EW.
**THIS POST IS PURELY FOR EDUCATIONAL PURPOSES AND MY TRADING DECISIONS ARE NOT TO BE TAKEN AS PERSONAL TRADING / INVESTMENT ADVICE
FTSE - Buying dips to trend supportTrade Idea
The medium term bias remains bullish.
Bespoke support is located at 7470.
We look for a re-test of the upward trending support.
There is scope for mild selling at the open but losses should be limited.
Preferred trade is to buy on dips.
We look to Buy at 7470
Stop: 7440
Target 1: 7560
Target 2: 7650
Trade ideas & daily market report July 9th 2019
Market highlights
Reduced expectations of aggressive Fed easing continued to support the US currency during Monday, although ranges were narrow.
Equity markets lost ground as expectations of aggressive Fed rate cuts declined further.
Demand for the yen and Swiss franc weakened slightly as US bond yields edged higher with the Euro also unable to make headway.
Gold prices also declined as bond yields increased and the dollar maintained a firm tone.
Oil prices gained some support from Iran tensions, but failed to hold gains.
Commodity currencies were unable to make headway amid a solid US currency tone with Sterling also losing ground.
Bitcoin pushed above $12,000 which helped trigger further buying.