Strong Bearish DivergenceThe UK100 formed a strong bearish divergence and the price is expected to fall since the Trend line liquidity has already been grabbed from a strong resistance zone.
Manage risk accordingly
UK100 trade ideas
FTSE Elliott Wave Analysis for Wednesday 30/08/2023The primary scenario is playing out and we reached the wave X area. There are several indications that a downward reversal is near.
Elliott Wave View: FTSE Rally Expected to Turn LowerFTSE Index shows a bearish sequence from 4.21.2023 high favoring further downside. The decline from 4.21.2023 high is currently unfolding as a double three Elliott Wave structure. Down from 4.21.2023 high, wave (W) ended at 7229.57 and rally in wave (X) ended at 7725.65. The Index has resumed lower in wave (Y). The internal subdivision of wave (Y) is unfolding as another double three in lesser degree. Down from wave (X), wave ((a)) ended at 7437.88 and rally in wave ((b)) ended at 7622.92. The third leg lower wave ((c)) ended at 7215.76 which completed wave W in higher degree.
Wave X rally is now in progress as a double three. Up from wave W, wave ((w)) ended at 7386.08 and pullback in wave ((x)) ended at 7326.48. Expect wave ((y)) to extend higher towards 7493.79 – 7598.57 area and this should complete wave X in higher degree. Afterwards, Index should turn lower in wave Y. Potential target lower is 100% – 161.8% Fibonacci extension from 2.16.2023 high towards 6560 – 7086.2. Near term, as far as pivot at 7725.65 high stays intact, expect rally to fail in 3, 7, or 11 swing for further downside.
FTSE Elliott Wave Analysis for Monday 28/08/2023The primary scenario (in green) assumes more upside in a corrective pattern to finish wave X. The secondary scenario (in red) assumes that we will get an ABC correction and therefore we need another leg down (wave ((v))) to finish wave A.
FTSE Elliott Wave Analysis Higher Timeframe (26/08/2023)In the higher timeframe, investors should wait for the next pullback to buy again. We are approaching the first relevant areas.
uk100 daily overview of key s/r levels buy/hold trade🔸Hello traders, today let's update the 2daily chart for UK100. We are currently testing
weak s/r level near 7300, however I expect the level to break soon and more downside.
🔸Price was rejected off the highs recently and correction in progress now expecting
more losses until we bottom out near 6900, which is a great level to buy/hold for the bulls.
expecting a re-test of mirror s/r level at 7650 points, so this makes this a decent setup
on buy side (10% upside)
🔸recommended strategy bulls: wait for correction to complete near 6900, do not buy/hold
right now, since current s/r level won't hold (weak s/r level) and more losses incoming.
get ready to buy/hold low near 6900 points targeting mirror s/r level at 7650. 10% upside,
low risk entry on buy side. good luck traders!
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FTSE100 Short Term Rebound #WaveAnalysis #UK100
#FTSE100 index reversed from support level 7200
Likely to rise to resistance level 7400
FTSE100 index recently reversed up from the powerful support level 7200 (former multi-month low from March), coinciding with the lower daily Bollinger Band.
The support level 7200 was further strengthened by the nearby support trendline of the wide daily down channel from April.
Given the strength of the support level 7200 and the oversold daily Stochastic, FTSE100 index can be expected to rise further toward the next resistance level 7400.
FTSE Elliott Wave Analysis for Monday 21/08/2023It looks like we will get more downside in the FTSE. We are looking to a short a wave B. If we do not get the wave B, we can go long again after the correction is finished (wave (Y)).
FTSE Elliott Wave Analysis Higher Timeframe (20/08/2023)In the higher timeframe, investors should wait for the next pullback to buy again. We are approaching the first relevant areas.
FTSE, Deviation then a drop?! UK100 / 4H
Hello traders, welcome back to another market breakdown.
FTSE is rallying back again above an old high which can be a run for stops.
I'll be looking for more confirmation with a clean invalidation if it comes back bellow the Mid.
Checkout the chart for the levels and my trigger plan for a swing trade.
Trade safely,
Trader Leo.
FTSE Elliott Wave Analysis for Friday 18/08/2023The wave ((b)) of the abc correction might be finished. We are in the areas where wave c, wave (y), and wave ((b)) should end. From here we can expect a reversal.
FTSE100 short setupSHORT idea
Retracement to supply zone, wait for low timeframe confirmation of market structure break in the OTE zone.
Entry: around 7720 area
Stop at the LTF swing high: 7800
First target: 7570 (2R)
Second target: 7460 (3R)
third target at the swing lows around 7340 (5R)
FTSE Elliott Wave Analysis for Thursday 17/08/2023The wave ((b)) of the abc correction might be finished. We are in the areas where wave c, wave (y), and wave ((b)) should end. From here we can expect a reversal.
FTSE FlirtIf you see the price flirting with one of the curves, it's not what I am looking for. I am more interested in rebounds that might signal the end and the beginning. Of a Wave. No Trading Advice here, but I am still looking forward to see some interesting price action on this drawing.
FTSE Elliott Wave Analysis for Wednesday 16/08/2023The wave ((b)) of the abc correction might be finished. We are in the areas where wave c, wave (y), and wave ((b)) should end. From here we can expect a reversal.
FTSE Elliott Wave Analysis for Tuesday 15/08/2023More downside is expected as an abc correction to finish wave c, wave (y) and ((b)). From there we go long again.
uk100 longI long swing idea is that uk100 will hold above the last year closing price and end the year positive
FTSE Elliott Wave Analysis for Monday 14/08/2023More downside is expected as an abc correction to finish wave (y) and ((b)). From there we go long again. However, if the current wave (x) high does not hold, another short can be initiated.
UK100/FTSEUK100 Longs here, higher lows formed from the bottom (Deeper pullback of a major bull trend on higher TF). Looking for Volume to explode to the upside.
FTSE Elliott Wave Analysis Higher Timeframe (12/08/2023)In the higher timeframe, we are still bearish but currently doing a correction to the upside. For traders, a good short opportunity is coming. Investors should wait for the next pullback to buy again.
