Gartley 222 in FTSEWe have an opportunity in the form of a Gartley 222. At the moment all Indeces are under sessling pressure so overal market condition supports.
UK100 trade ideas
UK100: Near-Term Dip, Long-Term BullishHello Everyone,
The UK100 is anticipated to decline to approximately 8042 unless the weekly pivot point serves as a support. Looking ahead, the long-term outlook remains optimistic and is projected to remain bullish.
TradeWithTheTrend3344
UK100 DUMP ITX2 sell postions on UK100 both targets and SL visible. BOS has occurred in a breakdown of the trend line and smaller TF double top allowed for a safer based entry
FTSE 100 : HIGH IN THE SKY- The market still trades above a bullish trend line since mid-February 2024, strongly helped by a decreasing Pound Sterling. The mid-term trend is bullish for UK equities.
- Since the 3rd impact on its bullish trendline at the end of last week, the market has rallied to an hall-time high above 8,000pts.
Since the impact on the 8,200pts mark, we can notice a slowdown of the short-term bullish acceleration. Indeed, new highs are registered with less and less strength, a situation clearly confirmed with the bearish divergence from the MACD indicator.
Very short-term moving averages remain bullish, acting as dynamic support, while the market currently fails to clear the 8,200pts level for a second time in a row.
- The mid-term situation stays bearish for the market. However, on a very short-term view, all leads to a market correction.
The bullish trend slowdown taking place in uncharted territory may be the sign that some investors want to take some profit out.
If that happens to be proven in the next few session, the market will be likely to test the newly established floor around 8,045pts, with 8,152pts and 8,112pts as intermediate support zones, before registering new highs.
Pierre Veyret, Technical Analyst at ActivTrades
The information provided does not constitute investment research. The material has no been prepared in accordance with the legal requirements designed to promote the independence of investment research and such is to be considered to be a marketing communication.
All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
FTSE Target hit. Can it go even higher?FTSE100 (UK100) hit today our 8150 Target, which we set a month ago (March 20, see chart below):
Since last week the 1W candle closed (much) higher than the February 2023 Resistance, we see the pattern continuing its strong resemblance with the October 2022 - February 2023 Bullish Leg. The long-term pattern continues to be a Channel Up and its previous Bullish Leg topped just below the 1.382 Fibonacci extension, making its technical Higher High.
As a result, our Target is 8350 (just below the new 1.382 Fib extension). Note that if that Fib level breaks, we may even see accelerated growth as high as to complete +20% from the bottom.
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UK100 - H&S a potential bearish reversalUK100 was bullish mood so far. But a possible head and shoulder pattern forming at the top might change its mood and reverse the trend. We have a buying opportunity at break of neck line. Lets see how price unfolds!
UK100A double top is a technical chart pattern that signals a potential reversal of an uptrend. It occurs when the price of an asset reaches a high point, retraces, then rallies back to a similar high before reversing downward. The pattern resembles the letter "M" and is formed by two consecutive peaks at approximately the same level, with a trough (the retracement) between them. Traders often interpret the double top as a bearish signal, suggesting that the upward momentum has weakened and that a downward trend may follow. It's essential for traders to look for confirmation through other technical indicators or price action before making trading decisions based solely on the double top pattern.
KOG - FTSE Quick post from us on FTSE. We're looking at these higher levels for a RIP potential, if we can get it we're looking to take this down into our active targets.
We'll update as we go along.
As always, trade safe.
KOG
UK100 index is showing trend reversal.Chart is showing bearish divergence.
Head & shoulder pattern is visible at recent HH which is also a bearish pattern.
So we can take entry at the break of neckline as that point will confirm trend reversal.
FTSE 100 Targets reminder. As it starts it's big moveAs described before
one of the worst index's to have been exposed to for decades
WHILST during rampant #UK inflation
The FTSE did nothing to help you out.
Yet here we are about to see it get sent to 5 figures.
FTSE 100 pushes to record highs The FTSE 100 has reached a new record high after pushing through the bearish sentiment that has taken over global equities in the past few weeks. The index, which is made up of the biggest 100 companies in the UK, closed above the previous high of 8,045 on Monday following a 1.6% rise on the day. The rally gathered strength on Friday when the index saw some whipsaw momentum, dropping 1.45% during the Asian session before bouncing 2.4% and ending the day 0.8% higher.
Concerns about geopolitical tensions have eased slightly over the past few days which has allowed global equities to halt the recent declines and attempt to regain the bullish momentum. But the FTSE 100 has been outshining its major peers, having found its footing earlier than the rest. A weaker pound has been helping, with the latest retail sales data offering more evidence of the weakening state of the UK economy, which increases the pressure on the Bank of England to start seriously considering cutting rates. The central bank is facing a tough balancing act of aiding growth whilst ensuring inflationary pressures do not spike up once again. With UK inflation now below the US for the first time in two years, markets are expecting the BoE to cut rates before the Federal Reserve, weighing on GBP/USD and keeping the FTSE 100 supported.
With regards to its constituents, Primark owner Associated British Foods (ABF) has been leading the gains this morning as it posted strong half-year results. Improving margins for its retail sector has boosted its share price to a new five-and-a-half-year high. Online supermarket Ocado is also on the list of biggest movers boosted in part by being named the fastest-growing firm in the Kantar supermarket data, but also pressured by investors to consider moving its listing to the US.
Technically, the bias remains upward in the medium term, with the weekly Relative Strength Index (RSI) still below 70. That said, the RSI is currently hovering around the level where pullbacks have started in the past, suggesting further pullbacks could still be on the cards. The weekly moving averages continue to be stacked in descending order, supporting continued bullish momentum, backed by the fact that the price has managed to push and hold above its long-term resistance of around 7,760.
UK100-FTSE-LongHello Traders
I'm looking at the ftse since the start of the week but wasn't able to catch a good setup, now it seem like one.
If the risk environment stays positive we can see more upside but this is a decent short term trade as well TP1 at asian session high
Elliott Wave Calling for FTSE to Extend HigherShort Term Elliott Wave view on FTSE suggests that rally from 8.18.2023 low is unfolding as a 5 waves impulse. Up from 8.18.2023 low, wave 1 ended at 7745.82 and pullback in wave 2 ended at 7279.86. Up from there, wave ((i)) ended at 7764.37 and wave ((ii)) pullback ended at 7404.08. The Index then extended higher in wave ((iii)) towards 8015.63 as the 1 hour chart below shows. Wave ((iv)) pullback ended at 7882.68 and wave ((v)) ended at 8044.98. This completed wave 3 in higher degree.
Pullback in wave 4 took the form of Elliott Wave zigzag structure. Down from wave 3, wave ((a)) ended at 7952.12 and wave ((b)) rally ended at 8009.52. Final leg wave ((c)) lower ended at 7791.84 which completed wave 4. The Index has resumed higher again in wave 5. Up from wave 4, wave (i) ended at 7898.77 and wave (ii) ended at 7809.68. Wave (iii) higher ended at 8076.52 and pullback in wave (iv) ended at 8021.67. Expect the Index to extend higher in wave (v) of ((i)). It then should pullback in wave ((ii)) to correct cycle from 4.16.2024 low before it resumes higher. Near term, as far as pivot at 7791.84 low stays intact, expect dips to find buyers in 3, 7, or 11 swing for further upside.
Breakout Alert: FTSE 100 Hits Record HighWith the FTSE 100 closing at a record high on Monday, let’s take a closer look at the breakout and the catalysts behind it.
Catalysts Behind the Breakout
The FTSE 100's breakout can be attributed to several key catalysts:
Expectations of UK Interest Rate Cuts: Anticipation of interest rate cuts from the Bank of England has weakened the pound, boosting the FTSE’s exporters. Many companies in the index generate a significant portion of their revenue in foreign currencies, so a weaker pound increases their earnings when converted back into sterling.
Shift from Tech Stocks to Commodities: Investors have been moving away from high-flying technology stocks and into commodities, benefiting many large-cap stocks within the FTSE 100.
Diverging Interest Rate Expectations: The discrepancy in interest rate expectations between the US and the UK has played a role. While the US Federal Reserve is expected to maintain relatively higher interest rates, the Bank of England is anticipated to implement rate cuts. This difference in monetary policy outlooks has driven GBP/USD lower, further boosting the FTSE 100's performance.
Resilience in Energy and Financial Sectors: Rising oil prices have buoyed energy companies, while signs of economic resilience in the UK have positively impacted financial institutions. Both sectors have seen strong performance, contributing significantly to the overall gains of the FTSE 100.
FTSE 100 Daily Candle Chart
Past performance is not a reliable indicator of future results
A Closer Look
Zooming into the FTSE’s daily candle chart and adding volume and Relative Strength Index (RSI) indicators, we gain a deeper understanding of the price action behind the breakout…
A failed breakout attempt earlier this month was followed by a volatile retracement, during which the index retested a key level of broken resistance – using it as support and forming a large bullish hammer candle backed by high volume. The hammer candle revealed the strength of buying pressure in the market and was followed by a swift breakout move on Monday.
Momentum traders should always be wary of false breakouts, but so far, the FTSE’s breakout looks sustainable:
RSI Signals Strength: The RSI is sloping upwards and in the high 60s – indicating strong momentum without being excessive.
Preceding Consolidation: Prior to the breakout, the FTSE had spent more than three weeks consolidating sideways in a choppy range. This preceding consolidation increases the likelihood of the breakout holding.
FTSE 100 Daily Candle Chart
Past performance is not a reliable indicator of future results
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UK100 - Short Signal UK100 H4
Sat on a key level of resistance, this 8000 price offer a whole/psychological number, H4 resistance and H4 demand, totalling our 3 confluences to signal.
I’d love to see some price action confirmation, but often with these stock indices, it’s not worth waiting for.
UK100 on the ropes despite good resultsWe have had a week full of negative news that has forced the FTSE100 index (Ticker AT: UK100) to cut its price from Monday to the Asian open by -3.70% and now at the European open it has rebounded by 1.36%. A possible military escalation between Iran and Israel has put the spotlight on the alert warnings in all markets and the Asian market experienced with a downbeat sentiment a possible affection for the technology and commodity market, on which the London index is so dependent. Gold prices fell by 3% in Asia-Pacific trading today and it is clear that commodities are having, never better said, "their golden moment" with so much military drama around the Middle East and Eastern Europe.
The British index has a high bearish sentiment on a technical level among investors after the early morning. Today the UK government will issue retail sales and fuel sales releases with Bank of England (BoE) Governor Dave Ramsden's speech at midday. Currently the Bank Rate is at 5.25% and the inflation rate is at 3.2% aiming for the 2% target. It is very likely that the central bank will keep its rate as it is given that the inflation cut target seems to be working well and the change of governor will not take place until July 1st, so a continuation of policy is likely.
The corporate data facilitated the upward adjustment during yesterday's session and it is possible that it will try to recover that zone again today and next week looking for the most traded zone of the bell which is at 7,953.35 points, currently the price is at 7,831.70 points so there is still a range to recover the middle zone of last week. Its RSI is oversold at 45.20% so it would not be unusual to see another bullish attempt as we say today and during the next week.
Ion Jauregui - AT Analyst
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The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and such should be considered a marketing communication.
All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
2:1 FTSE Short1. Double top all time resistance high
2. Daily Break of Structure (BOS)
3. H4 50 & 100 EMA Crossover potential (i.e. turning down)
4. Price action retest of EMAs crossover
UK100 Share Index Rises as UK Inflation SlowsUK100 Share Index Rises as UK Inflation Slows
Yesterday, the UK Office for National Statistics (ONS) reported that the CPI stood at 3.2% in March. According to ForexFactory, analysts expected 3.1%, and a month ago the index was 3.4%.
Grant Fitzner, chief economist at the ONS, said: “Once again, food prices were the main reason for the fall, with prices rising by less than we saw a year ago. Similarly to last month, we saw a partial offset from rising fuel prices.”
Thus, actual inflation in the UK fell to its lowest level in two and a half years. According to Yahoo Finance, this weakening of inflation could influence the Bank of England to start cutting interest rates from the current level of 5.25% in June.
In anticipation of an easing of monetary policy, the values of the UK stock index UK100 increased yesterday. Today it is above the 7,900 level.
Technical analysis of the UK100 chart today shows that:
→ the price forms an ascending channel (shown in blue);
→ the rise in the price of UK100 from the current week’s low forms a rebound from the support block, which is formed by the lower border of this channel and the former resistance 7,800.
At the same time, the bearish arguments remain powerful:
→ pay attention to the sharp rate of decline in A→B;
→ the UK100 price has broken down the intermediate trend line (shown in black).
Will the market be able to resume the rally indicated by the blue channel? Important information about the seriousness of bullish sentiment in the UK stock market can be provided by the behavior of the UK100 price, namely its ability to rise above the median line of the channel and above the level of 50% of the decline (A→B).
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
📈 FTSE 100 Index Double-Top: Corrective Crash To ~6,000➖ Back in May 2018 the UKX produced a peak that led to a major crash a few years later, this was the All-Time High at the time.
➖ The ATH came in May 2018 followed by a long-term lower high January 2020.
➖ The lower high January 2020 signaled the start of the biggest corrective crash since 2008.
We have a similar situation when it comes to price action and chart patterns, as well as many signals to look at pointing toward a major, strong, hard correction.
➖ The UKX All-Time High came in February 2023.
This is marked on the chart with a rounded top pattern.
➖ Just last week, April 2024, the UKX produced a long-term lower high (more than a year long). This lower high can also be read as a double-top and this wouldn't change what the chart is saying; down!
➖ All the action since mid-2021 can be considered a consolidation phase.
➖ When the market crashes, we can say the entire period was a distribution phase.
➖ This week, active session, the UKX went full red and deleted three weeks of growth.
The bearish momentum is really strong and right now the UKX is hanging on support as EMA10.
➖ The RSI peaked in 2006, giving us an 18 years long bearish divergence; actually, it goes further back. The RSI hit an ATH in September 1989, giving us a 35 years long bearish divergence.
👉 The first, main and easy target sits around 7,150.
👉 The second target sits around 6,000.
Thank you for reading.
Namaste.
UK Stock Market Post Inflation Data, Where Next?UK Inflation readings just came in and the UK govt is raving about it. Well needed gratification is in order due to the current dire political situation (we won't talk politics)..
Their promise was to halve inflation and their positive sentiment/rhetoric along with US news yesterday is creating bullish atmosphere within the UK main Stock Market, the FTSE 100.
I mentioned previously about long entries, of which have progressed to the upside significantly:
This relied heavily on a Technical view with other Fundamental aspects in mind. Price Action in Markets must always be used as a means of identifying where traders and investors alike are entering and exiting the Market.
That's because if you are joining them it gives weight to your entries and their potential direction and movement further. This couples well with Market Sentiment which ultimately rules the Financial Markets and leads people to buy and sell.
The current rise is also giving way to technical approaches and sentiment, or Market Mood persists to the upside.
Looking for further entries and exits as stated in this video.
Watch to learn.
