UK100 approaching resistance, potential drop! UK100 is approaching our first resistance at 7225 (horizontal overlap resistance, 38.2%, 50% fibonacci retracement, 100% fibonacci extension) and a strong drop might occur pushing price down to our major support at 6921 (horizontal swing low support, 78.6% fibonacci retracement, 100% fibonacci extension).
Stochastic (34,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
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Losses can exceed the initial investment so please ensure you fully understand the risks.
UK100 CFD
UK100 Approaching Support, Potential Bounce!UK100 is approaching its support at 6860 (23.6% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 7193 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing high resistance). Stochastic (55,5,3) is approaching its support at 8.7% where a corresponding bounce could occur.
UK100 Approaching Resistance, Potential ReversalUK100 is approaching its resistance at 7235 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal pullback resistance) where it could potentially fall to its support at 7044 (50% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal could occur.
UK100 Testing Support, Potential Bounce!UK100 is testing its support at 6870.5 (61.8% Fibonacci extension, 76.4% & 38.2% Fibonacci retracement, horizontal swing low support) where it could potentially rise to its resistance at 7236 (50% Fibonacci retracement, horizontal pullback resistance).
Stochastic (55, 5, 3) bounced off its support and a bullish divergence with price has been identified.
UK100 Bounced Off Support, Potential To Rise Further!UK100 bounced off its support at at 6873 (61.8% Fibonacci extension, 76.4%, 50% & 38.2% Fibonacci retracement, horizontal swing low support) where it could potentially rise to its resistance at 7236 (50% Fibonacci retracement, horizontal pullback resistance).
Stochastic (55, 5, 3) bounced off its support at 2.7%.
UK100 Possible Inverse H&S 1hr long setup [BTFD]just an idea
buying the likely dip
if price goes under 6993 then the pattern will be invalid
there is some bullish divergence growing
if it breaks the neckline we can get a probability of going further upwards in price and using the moving averages or fib levels to exit quickly and use the LT velocity indicator for the stoploss, which is that last little green dot to the left of the right shoulder
not many hours left in this market week, possible late rally here, good trades to you all
FTSE Testing Support, Potential Bounce!UK100GBP is testing its support at 7231 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support, channel support) where it could potentially bounce up to its resistance at 7423 (61.8% Fibonacci retracement, horizontal overlap resistance).
Stochastic (55, 5, 3) is testing its support at 3.1% where a corresponding bounce could occur.
FTSE UK Stock Index (18 Sept 2018) This will be my views of FTSE UK Stock Index (18 Sept 2018)
Please make sure to read the "update" comment as there will be changes along the way.
Cheers.
S0nic
Disclaimer:
The information contained in this presentation is solely for educational purposes and does not constitute investment advice. We may or We may not take the trade.
The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation.
We, Sonicr Mastery dot com is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
UK100Unum Capital: Technical Trade Ideas - FTSE100 and GBPUSD
Dear Trader
This morning the UK's FTSE 100 Index Future and GBP/USD feature among my trade ideas.
FTSE 100 Index Future (Buy/Long)
Over last few weeks the British Pound has rallied on the back of positive developments in the UK around Brexit. We have also seen some positive data being released which include: (1) GDP higher by 0.6% as well as (2) average earnings including bonuses increasing by 2.6%. While this has been positive for the currency, the FTSE has come under pressure as a result of large capitalization multi-nationals being dragged down as earnings and revenue expectations diminish on the back of a stronger Pound.
With the index now looking oversold and finding support on the channel trend line and at the 61.8% Fibonacci level, traders could look to take a buy/long position on a potential rebound.
These are the trade levels:
Buy/Long FTSE100 Future at current levels 7280
Stop-loss: 7235
Take Profit Target: 7400
FTSE Elliott Wave Analysis: Started Another Extension LowerHello Traders,
FTSE short-term Elliott Wave view suggests that the rally to 7790.17 high ended blue wave (X) bounce. Down from there, blue wave (Y) remains in progress with instrument showing a lower low sequence. The internals of that leg lower is taking place as double correction lower due to overlapping price action happening from 7790.17 high thus suggesting that the decline is unfolding in 3 waves corrective sequence.
Down from 7790.17 high, the initial move to 7477.05 low ended red wave W of (Y). The internals of that lesser degree decline unfolded as a Zigzag structure where black wave ((a)) ended in 5 waves at 7614.48 low. Then the bounce to 7665.24 high ended black wave ((b)) bounce. And decline to 7477.05 low ended black wave ((c)) of W in another 5 waves structure.
Up from there, the bounce higher to 7639.13 high ended red wave X of (Y). The internals of that bounce unfolded as double three structure where black wave ((w)) ended at 7616.15 high. Black wave ((x)) ended at 7531.24 low and black wave ((y)) of red X ended at 7639.13 high.
Down from there, the index has made a new low confirming that red wave Y of (Y) has started and looking for extension lower towards 7323.99-7250.04, which is 100%-123.6% Fibonacci extension area of red W-X. Near-term, while bounces stay below 7639.13 high expect index to extend lower. We don’t like selling it.
FTSE UK Stock Index (Aug 2018)This will be my views of FTSE UK Stock Index (Aug 2018)
Please make sure to read the "update" comment as there will be changes along the way.
Cheers.
S0nic
Disclaimer:
The information contained in this presentation is solely for educational purposes and does not constitute investment advice. We may or We may not take the trade.
The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation.
We, Sonicr Mastery dot com is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
(LIVE) UK100 INTRADAY COVERAGE - SEE UPDATES SECTIONJust like the title suggests I will be tracking the UK100 futures live throughout the day with updates regarding entries, stops, targets etc.
Make sure to stay tuned and pay attention to the updates.
Like and comment if you find this helpful.
Disclaimer:
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.