UKX Hourly - Overhead lateral resistance holds 6700 appears to be the line in the sand for now... Looking for a pullback to the 6650 level. SL at today's high circ 6705
FTSE 100 Index
UKX Hourly - Bullish reversal triggers ST long position There's the hourly bullish reversal we were hoping for this morning. Nice long tail, bounced off support putting in place a higher low. Targets are 6626, 6640 and 6680.
VUKE Daily - VERY slowly averaging back inThis morning we got the gap close we have been waiting for. Using this as an opportunity to slowly start averaging back in (ISA & SIPP portfolios) as I am very underweight (current 21% vs. circ 70% total equities target). Suspect/hoping we still get better levels, but happy to start ticking away here after going underweight early last week.
UKX Hourly - Expecting tug of war at 6600As posted yesterday - we got the gap close and lateral resistance held at 6625/35. We do now have minor support now at 6600 and a flat 20SMA. Trend is still down, but will be keeping an eye to see if we can get a bullish hourly candle here - otherwise back down to sub 6500 we go. Patience required as we wait for confirmation.
UKX Hourly - Consolidating below overhead lateral resistance If this resistance holds - next support levels: 6583.3 (gap close); 6570 (re-test break out); 6490 (lateral support)
UKX Hourly-Looking at poss 6625/35 resistance for short re-entrySeeing a bit of a relief rally following last few days of selling. Trend is still down and we are floating between larger support at 6490 and resistance at 6625. Will be keeping an eye for a potential reversal from the upper 6625 resistance - and potentially even higher to 6635 where the price gapped down this morning - for a potential re-entry of my ST short position. Confirmation will be key.
UKX Daily - Ideally like to see 6600 gap filledWent underweight on Monday following the euphoria (extremely overbought on shorter time frames). Hoping for a pullback to the 6600 region where the price action gapped higher to start scaling back in - will also be a re-test of the breakout. However, there is a potential bull flag developing on the hourly chart (chart to follow). We currently in no-mans land as we await further developments.
FTSE 100 Looking For Long After RetraceThis is making a retrace after spiking 3 days ago. I am looking for an entry around 0.5 Fibonacci as this aligns with some previous resistance although it is best to wait for confirmation as it could drop further. Once we see a rebound target will be at a new high and where it will meet resistance of 7004.
UKX Hourly - Keeping close eye on potential bull flag Would ideally like to see the 6600 gap close (as per daily chart) - however I am monitoring the potential hourly bull flag very closely.
FTSE Enter Long on RetraceFTSE 100 has had a big push higher, want to see a retrace before entering a long. Once it peaks on the current spike look for retrace to around 0.382 Fibonacci for entry. I have set target at a new high of 7004.4 although there will likely be some resistance at the previous high so can also take profit there and re-enter on the retrace from there.
UK100 (UKX ) Global view WAnother 40% crash is about to happen soon. This will be the last phase of big-big consolidation from 2000 (grey zone)
UKX - expecting more upsideInto support - similar structure to H2 2020.
Expecting more upside
Best, HF
UK100! (FTSE)Been holding this short trade since last week Monday and it seems to still be very valid.
6600-6400 seems to be a an area that price is going to find support and once it is found, a massive drive upside could be possible with new ATH for the FTSE.
FTSE100 - UKX - WHERE TO NEXT?FTSE100 UKX - Range Bound - WHERE TO NEXT?
Technical View:
Resistance: 6782.5, 6823.0, 6900.5
Support: 6677.7, 6627.6, 6610.9, 6535.8 (200EMA)
Pattern: Multiple formation Bull Flag / Triangle Formation
How to approach this trade idea:
- Add alerts at key break out areas
- Wait for the break out and trade the pull back
- Check the key Fibs matching S&R Areas
- Don't forget to gain a good R/R
- Add limit orders to break out areas, bit more of risky approach as you don't want be part of fake break out!
Go with what you have written on your trade plan overall.
It's FRIDAY....! On a Friday - I take day trades, review my journal and get ready for the week ahead. It hasn't been bad week very choppy markets we are in range bound areas in most assets apart from Crypto's great momentum towards down side I always say in life and in the markets - What goes up, comes down eventually. Now it doesn't mean you're going to become profitable trader and come down - NO! What I mean is, your performance isn't going to be straight line there will be days up and down and let be honest with you - I don't always trade everyday because I know when I want to be part of the market, be disciplined! It does depends on way you mange your portfolio.
Have a great weekend.
Trade Journal
(Just a trade idea, not a recommendation)
FTSE Has Completed RetraceThis has retraced as expected to previous resistance and 0.5 Fibonacci. I will be waiting to see how this develops before entering a long as this could drop further, watch for the EMA's to cross back over or come very close to. If the price does hold this level then a target TP can be 7031.
FTSE - Retest of 6,200 - 6,150 levelTVC:UKX
- FTSE overextended after a strong break of downtrend channel
- Retest of 6,200-6,150 level needed
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FTSE100 - UKX - Potential short! FTSE100 (UKX) - Technical View:
Simple explanation today -
Pattern wise: Came out of a larger triangle formation towards downside support areas.
At this current moment of time - It is within the range of: Support: 6785 Resistance: 6830
Once broken out of the range below support levels which matches the 200 EMA as a great support area measuring the wedge range formed. If we break towards downside, I expect it to continue towards Fib Retracement area of: 1.618 which matches a nice support area as well as nice trend-line support too!
The way you could play this trade: WAIT for it to break out of the smaller formation of the wedge formed and take the pull back trade to the next support areas or simply feeling more confident add a limit order!
Remember: Follow your own trade plan and execute wisely.
Have a prosperous day ahead,
Trade Journal
(Just a trade idea, not a recommendation)
FTSE to retraceI believe this will retrace to the previous highs between 0.5 and 0.618 of Fibonacci and find support at this level
UK Bullish - Validated trend lines?Hi, folk were too bearish hence my abandonment of my bearish scenario and placement of these bullish trend lines pre-US election. The push up seems to have put many traders onto the wrong side of the trade. These lines look valid, check out how they may be confirmed by the last few weeks of price action at the higher end of the channel.
It's still looking bullish to me. There is always a potential for it to snap back I'm not expecting this (at least until March).Next event to trigger a move will be the EU Deal. This of course will be done but my expectations are:
- Deal may keep UK in range if not further decline
- No Deal potential to drive market to previous highs and beyond
I'm not a fulltime trader and not in a informed position to be making calls about the UK market but been looking at charts long enough to read the markets.
Best, Hard Forky
