FTSE Elliott Wave Analysis for Wednesday 18/10/2023The higher timeframe gives us two equally valid scenarios. On the lower timeframe, it looks like wave X is finished and that we are working on wave Y as an ABC up.
UK100 trade ideas
UK100 D1 - Short from 7720UK100 D1
Lots of big daily timeframes here, swing positions are certainly looking attractive across and commodities, indices and FX.
7720 is our anticipated sell zone.
FTSE Elliott Wave Analysis for Tuesday 17/10/2023The higher timeframe gives us two equally valid scenarios. On the lower timeframe, it looks like wave X is finished and that we are working on wave Y as an ABC up.
UK 100 Depicting Weakness. Let's SHORT SELLUK 100 index has shown weakness on hourly chart this is further augmented by the Divergence on RSI indicator. To milk the opportunity a trade plan has been devised. So you may utilize the opportunity.
uk100 sell trade
- The UK economy is weighed down by the weak UK economic data, the dovish Bank of England (BOE), and the political and fiscal risks in the region. The UK inflation remains well above the BOE's target of 2%, while the growth outlook is clouded by the Covid-19 variants, the energy crisis, and the supply chain disruptions. The BOE is expected to maintain its ultra-loose monetary policy and its massive asset purchase program for longer, which would weaken the pound and reduce its yield advantage over other currencies.
- The US Dollar is boosted by the robust US economic data, the hawkish Federal Reserve, and the safe-haven demand amid the global uncertainty. The US inflation remains elevated at 3.7% year-on-year in September, while the growth outlook is supported by the fiscal stimulus, the vaccination progress, and the consumer spending. The Federal Reserve is expected to start tapering its quantitative easing program and raise interest rates sooner than previously anticipated, which would strengthen the dollar and increase its yield advantage over other currencies.
FTSE Elliott Wave Analysis for Monday 16/10/2023 (+ Higher TF)The higher timeframe gives us two equally valid scenarios. On the lower timeframe, it looks like wave X is finished and that we are working on wave Y as an ABC up.
UK300GBPThere is a head and shoulder pattern likely to form. I am waiting for the price to break out at the support zone, then retest it so that we can have a go ahead to place our position.
I anticipate that the price might continue with the bearish momentum.
My intended entry point is 7600, SL at 7630 and TP at 7500, thus R:R is 1:3.
FTSE Elliott Wave Analysis for Friday 13/10/2023The higher timeframe gives us two equally valid scenarios. On the lower timeframe, it looks like wave X is finished and that we are working on wave Y.
FTSE Elliott Wave Analysis for Thursday 12/10/2023The higher timeframe gives us two equally valid scenarios. On the lower timeframe, it looks like wave X is finished and that we are working on wave Y.
UK100 Index Long Trading SignalUK100 Index Long Trading Opportunity
1. The price closed above the Trend Magic Indicator line. Strong long signal.
3. Vortex will cross and indicates strong uptrend signal.
4. Retail trader data shows 64% of traders are net-short. Strong contrarian long signal.
SL - below the Trend Magic Indicator line or Vortex indicator change trend direction signal
TP1- 7750
TP2 - 7920
Keep It Simple and Always Trade With the Trend!
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UK100 H4 | Heading into 50% FiboUK100 is rising towards an overlap resistance and could potentially reverse off this level to drop lower.
Sell entry is at 7551.55 which is an overlap resistance that aligns close to the 50.0% Fibonacci retracement level.
Stop loss is at 7592.01 which is a level that sits above the 61.8% Fibonacci retracement level.
Take profit is at 7465.61 which is a pullback support level.
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FTSE Elliott Wave Analysis for Wednesday 11/10/2023The higher timeframe gives us two equally valid scenarios. On the lower timeframe, it looks like wave X is finished and that we are working on wave Y.
UK100 BULISH IDEAUK100 is getting ready for agin big bull run just go with proper confirmation . good luck
Is the FTSE100 setting itself for a rally?Triple Bottom seems to be forming on FTSE100...
Could it be showing signs that it wants to rally for the rest of the year?
If so, we need to wait for the price to close above the neckline before acting.
Other indicaators also show it's too early, but things can change. So we'll keep our eyes peeled.
Price <200 (Bearish)
21>7 (Bearish)
RSI<50
Target 8,280
UK100 D1 - Short SetupUK100 D1
Little reluctant with stock indices for the moment, but certainly going to push a few forecasts out. 7600 sell zone looks attractive on the basis of this 7600 psychological price, daily resistance and daily supply price.
We could start to see rejections here, failing this, a break upside could lead us to 7700. Another attractive sell zone, which measures 9R from 7700 to 7260.
Has UK100 turned positive?UK100 - 24h expiry
There is no indication that the rally is coming to an end.
Further upside is expected.
Risk/Reward would be poor to call a buy from current levels.
A move through 7550 will confirm the bullish momentum.
The measured move target is 7650.
We look to Buy at 7500 (stop at 7450)
Our profit targets will be 7620 and 7650
Resistance: 7550 / 7600 / 7650
Support: 7525 / 7500 / 7450
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FTSE Elliott Wave Analysis for Tuesday 10/10/2023The higher timeframe gives us two equally valid scenarios. On the lower timeframe, it looks like wave X is finished. However, as long as we see too much overlap in the upward move, we cannot exclude the secondary scenario. The secondary scenario calls for two more swings as a wave (b) and (c).
uk 100 ftse 100 index buy tradeThe RSI is above 50, indicating that the momentum is shifting to the bullish side. The stochastic oscillator is above 70, indicating that the index is overbought and may be due for a pullback. The MACD has crossed above its signal line, generating a bullish crossover signal. The CCI is above 100, indicating that the index is in a strong uptrend.
Moreover, the index has broken above its upper channel line and its 20-day moving average, which could act as support levels in case of a retracement.
FTSE Elliott Wave Analysis for Monday 09/10/2023 (+ Higher TF)The higher timeframe gives us two equally valid scenarios. On the lower timeframe, it looks like wave X is finished. However, as long as we see too much overlap in the upward move, we cannot exclude the secondary scenario. The secondary scenario calls for two more swings as a wave (b) and (c).
FTSE100 Q4 23 and Q1 24 Support and resistance levelsA support and resistance diagram for the FTSE 100 provides a visual representation of key price levels where the index tends to find buying or selling pressure. This tool is widely used by traders and analysts to make informed decisions about their trading strategies. Here's an overview of what such a diagram may look like:
1. **Horizontal Lines**: A support and resistance diagram for the FTSE 100 typically includes horizontal lines at various price levels. These lines represent historical points where the index's price has either stalled (resistance) or rebounded (support).
2. **Support Levels**: Support levels are price points where the FTSE 100 tends to find buying interest. When the index approaches a support level, it often experiences a bounce or a slowdown in its downtrend. Traders often view these levels as potential buying opportunities.
3. **Resistance Levels**: Resistance levels are price points where the FTSE 100 tends to encounter selling pressure. When the index approaches a resistance level, it often struggles to move beyond that point. Traders consider these levels as potential selling opportunities.
4. **Trendlines**: In addition to horizontal lines, trendlines may also be included in the diagram. Trendlines connect the peaks (resistance) and troughs (support) in the FTSE 100's price movement, helping to visualize the prevailing trend.
5. **Historical Data**: The diagram may be plotted based on historical price data, which can be adjusted to reflect different timeframes (e.g., daily, weekly, monthly). The longer the timeframe, the more significant the support and resistance levels tend to be.
6. **Annotations**: Traders often add annotations to the diagram to provide context or highlight specific events or news that may have influenced the FTSE 100's price movements at certain levels.
7. **Volume Indicators**: Some traders incorporate volume indicators into their support and resistance diagrams. Volume can provide additional insights into the strength or weakness of support and resistance levels.
8. **Dynamic Levels**: In dynamic support and resistance diagrams, the lines may shift over time as new price data becomes available. This reflects the evolving nature of financial markets and allows traders to adapt their strategies accordingly.
9. **Psychological Levels**: Certain price levels, such as round numbers or key milestones (e.g., 10,000 points), can have psychological significance and may be included in the diagram as potential support or resistance levels.
10. **Trading Strategies**: Traders use these support and resistance levels to develop trading strategies. For example, a common strategy is to buy near support levels with a stop-loss just below the support, and sell near resistance levels with a stop-loss just above the resistance.
Overall, a support and resistance diagram for the FTSE 100 serves as a valuable tool for technical analysis and helps traders make informed decisions based on historical price behavior. However, it's important to note that these levels are not foolproof, and market conditions can change rapidly, so traders should use them in conjunction with other analysis methods and risk management strategies.
