Elliott Wave Intraday Analysis: FTSE should Continue HigherShort Term Elliott Wave in FTSE suggests that the index has completed a bearish sequence from 5.15.2024 high. The decline made a zig zag Elliott Wave structure. Down from 5.15.2024 high, wave A ended at 8106.79 low. Rally in wave B ended at 8405.24 high with internal subdivision as a expanded flat structure. Up from wave A, wave ((a)) ended at 8279.75 and wave ((b)) ended at 8056.01. Wave ((c)) higher ended at 8405.24 which completed wave B in higher degree.
Then, FTSE turned lower in wave C with internal subdivision as an impulse structure. Down from wave B, wave ((i)) ended at 8158.03 low and wave ((ii)) ended slighly up at 8174.71 high. Wave ((iii)) lower ended at 7972.35 and wave ((iv)) ended at 8024.83 high. Final leg wave ((v)) ended at 7915.94 low which completed wave C and (4) in higher degree. The current rally is in progress expecting to continue higher as wave (5). Near term, we are calling an impulse structure as wave ((i)) from wave (4) low. This wave ((i)) should be completed very soon and we are expecting a retracement in 3, 7 or 11 swings as wave ((ii)) before resuming the rally. The view is valid as price action remains above 7915.94 low.
FTSE 100 Index
Roaring 20's #FTSE100 to meaningfully outperform UK HOUSINGA BOLD prediction --- possibly to some people
But I stand by this chart as a roadmap where I see #UK equities outperforming
against the cash cow that has been UK #Housing
The how's and what's and why's are unimportant
But the key thing is for younger people struggling to get into UK housing
Investing in #Stocks #Technology Innovation #AI and #crypto
will reap HUGE dividends these next few years
I have talked about the roaring 20's echo mania bubble before
but as we see stocks indicies around the world breaking it only confirms my thesis!
FTSE 100 Can 2.5X versus the GBP In Dollar terms.
We have analysed the FTSE100 #UKX the GBPUSD and UK Housing on a big time frame scale before.
Here we have the FTSE 100 and the UK companies which have pricing power
versus #Sterling which we know is heading to sub $1
As we have expectations of the #GBPUSD to target 0.71 in a head and shoulders target close to a 50% drop from current levels!
British citizens are living in a inflationary nightmare.
A potential lifeboat is investing their way out.
NOT SAVING .. as saving in a ever worthless #Pound is only compounding your loss of purchasing power.
FTSE(UK100)My last charts triangle pattern was technically violated.
So here's a new one, which lines up perfectly and make that little bit more sense of what is happening.
As I see it, as long as we stay above 7200-7400 a pump to 8k is a lot more likely as theirs evidently buyers in the market keeping the FTSE floating, where as a break below will send this south (6700 or lower).
FTSE 100, Consolidating, This Scenario Can Alter The Situation!Hello Traders Investors And Community,
Welcome to this analysis where we are looking at the FTSE 100 Index, what it is currently doing, the overall formation, the possibilities when certain confirmations occur, and how to handle upcoming changes. The FTSE is an index which has developed a longer consolidation period after its recovery approach from the corona breakdowns seen this year, the big question as it is also the same in other major indices is if this recovery can sustain further within a healthy unspeculative market environment or if there is more downside ahead especially when an increase in corona shows bearish downside action similarly to those mechanisms seen this year.
Looking at my chart you can watch there that the index is trading in a longer stretched descending parallel channel which is marked in red where it is consolidating slightly to the downside and already touched the upper and lower boundary several times, such formations tend to break out sooner or later and the longer such formations develop the heavier and more volatile the breakout will be. Technically speaking the consolidation can go on more time when there is no positive news event which is altering the situation immediately to the upside, furthermore, the wave count establishing supports this scenario where the final wave E can form over the next times while the upper boundary confirming bearish again this final wave is not far away and within the high possible range. When this happens and the final wave develops the index has some solid support at the Fibonacci-support seen in my chart which is the 50 % level of the whole wave up, this support is also matching with the lower boundary of the channel where a bounce can be given and expected. When the index bounces in this area it can move on to confirm the bull-flag which will activate targets way above the range but the importance is to show up with the confirmation.
This possible bull-flag breakout can confirm a healthy bullish edge but that does not mean the whole index is completely bullish as there are still strong resistance levels and the index is trading way below its all-time-high-condition, therefore we should not keep the bearish scenario fully by side here, the bull-flag can confirm bullishness on the short and long-term but that does not mean it will definitely go up into the long term as well, in this case the bull-flag can be traded on the long-side but it should be seen crucial when it is approaching resistances in the range above.
In this manner, thank you for watching the analysis, support for more market insight, and all the best!
Information provided is only educational and should not be used to take action in the market.
Impulsive Elliott Wave Decline in FTSE Calling More DownsideFTSE ended cycle from 3.16.2020 low with wave I at 8047.06. The Index is now in the process of correcting this 3 year rally in wave II. The internal subdivision of wave II is unfolding as a zigzag Elliott Wave structure. A zigzag structure is a 5-3-5 structure with ((A))-((B))-((C)) as the label. Wave ((A)) and ((C)) in this case subdivides into 5 waves impulse. In the 1 hour chart below, FTSE is still within wave ((A)) of II with subdivision as 5 waves. Down from wave I, wave 1 ended at 7978.61 and wave 2 ended at 8020.13.
The Index then resumes lower in wave 3 towards 7870.39, and wave 4 ended at 7949.97. Final leg lower wave 5 ended at 7854.82 which completed wave (1). Rally in wave (2) ended at 7976.48 with subdivision as a zigzag structure. Up from wave (1), wave A ended at 7950.69 and pullback in wave B ended at 7875.03. Wave C higher ended at 7976.48 which completed wave (2). The Index resumes lower in wave (3). Down from wave (2), wave 1 ended at 7897.45 and rally in wave 2 ended at 7959.77. Expect the Index to extend lower 1 more time to end wave 3, then it should rally in wave 4 and extends lower again. Near term, as far as pivot at 7976.48 high stays intact, expect rally to fail in 3, 7, or 11 swing.
UKX to 9090?FTSE100 (UK100, UK stocks index) been laggard for many years in comparison with many of it's peers. Now it seems the UKX will finally make new all-time high🍾 and will go even higher. I think we are in continuation move up after breaking out of the consolidation in form of triangle. Target @ 9090 being measured move - height of the triangle projected from midpoint of local range. Invalidation would be the local range low @ 4791 which is too far away meaning unfavourable reward risk ratio but this idea is rather about directional bias. Bear in mind this is monthly chart so the move will not happen over night obviously.
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UKX - Neckline BO analysisComment :
1) UK100 has fell below Neckline A and closed the week at 7018.61. Although UK100 has BO the neckline for several times before, but those one still able to close above the neckline. Unless UK100 could rebound to above Neckline A, else it would face another round of downturn below the neckline.
Support & Resistance :
R : 6355 +/-
DISCLAIMER :
Analysis above SOLELY for case study purpose, not a PROFESSIONAL ADVISE. This analysis does not provide any trading advise and buy or sell. Trade at your own risk. Trade only after you have acknowledged and accepted the risks involved.
FTSE 100 Cup & Handle at 15 min timeframe?FTSE 100 has recently experienced golden cross on 1-day charts. Resistance in 7600s was surprisingly easily bypassed Friday / Monday, and 7700+ was comfortably reached again post uneventful JP speech. Is this a bullish cup & handle on 15 minute, suggesting push towards 7800? Or will the FTSE face trouble with upcoming earnings this week, given last nights data outline sales haven’t outstripped inflation. Technicals and fundamentals appear divergent, as do RSI / price. Extensive resistance exists ~7775-7800, and above too where ATH sits. Is a turnaround nigh, or a new ATH. Thoughts?
FTSE100 - Further downside is expected UK100 - Intraday - We look to Sell at 7425 (stop at 7500)
Previous support located at 7300. Previous resistance located at 7400. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 7425, resulting in improved risk/reward. A move through 7300 will confirm the bearish momentum.
Our profit targets will be 7250 and 7200
Resistance: 7400 / 7425 / 7500
Support: 7300 / 7250 / 7200
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FTSE pulls back into support zone, bullish trend remains strongAn interesting setup may have formed on the FTSE 100 daily chart. It has seen a strong rally from its October low and since produced a relatively shallow pullback from the 7600 resistance zone. The RSI (2) was oversold on Thursday and curled higher on Friday, which closed the day with a Spinning Top Doji candle to suggest a swing ow has formed. Furthermore, the 50-day EMA and monthly pivot point are supporting the pullback, so we’re now looking for a bullish swing trade and for the market to move higher.
Take note of the plethora of UK data released shortly, and the UK are set to release employment data tomorrow, inflation data on Wednesday and the BOE announce their monetary policy decision on Thursday.
UK 100 remains range bound in larger perspectiveAll those who love to trade UK100 need to see the range bound activity of index between 6700 to 7700. For a very long period of time it has been moving with in 1000 points range and this could be the signal of any big move in coming period if it moves in any direction with big volumes .
But until unless it doesn't clear out this area best strategy to trade is buy at 6700 and sell at 7700 and wait for major breakout .
Joe Gun2Head Trade - Will the major support at 6822 hold?Trade Idea: Selling FTSE100
Reasoning: Intraday Bullish Flag on CADCHF
Entry Level: 6853
Take Profit Level: 6700
Stop Loss: 6928
Risk/Reward: 2.04:1
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MAJOR INDICES in USD / WORLD GDPFormula: (Major Indices/USDxxx)/World GDP (Gross Domestic Product)
Indices: USA, Germany, Japan, UK, China. (all converted to USD)
After the 2008-2009 bottom, USA performed much better than other countries. So, what's next? We can expect other countries to perform better even a bit from now on. But that dosen't mean that the stock markets will rise. It's a bit confusing, because there are high differences between them, as seen. If we focus on USA, we can say that the stock market is expensive. But others don't tell the same. We will see...
U.K. 10 Year Gilt UK10Y-GB
We are overall at key area but just like EUR I see no fundamental reasons short/medium term on why and who would realistically going into Gilt at this moment of time. Inflation running hot, could estimated by this yr at 13-15%, recession, housing crises and last of all political instability.
UK Recession voices and FTSE100UK inflation in double digit and it never been easy to cool down inflation above 5% or sticky for long, Winter approaching and peoples rising hands against Energy, Electricity bills while or easy money gone. Globally we can face hard time for two years while central banks saying everything ok.
Now world is more synchronize compare to 2000 and any bad news from any country effects whole markets.
BP - Make or break for the UK Oil giantBP. (BP.)
Short Term
We look to Buy at 390.00 (stop at 373.30)
The medium term bias remains bullish. The trend of higher lows is located at 377.50. Dips continue to attract buyers. Our overall sentiment remains bullish looking for higher levels.
Our profit targets will be 455.50 and 480.00
Resistance: 396.00 / 419.35 / 456.00
Support: 377.50 / 364.10 / 338.05
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