FTSE Elliott Wave Analysis for Thursday 14/09/2023We made a new high and this supports the scenario of another corrective leg up as forecasted. This means we can see some more upside to finish wave X, before reversing down as a wave Y.
UK100 trade ideas
UK100 Short Call!!!UK100 is currently experiencing strong resistance levels in the market. To take advantage of the potential market scenario, we can consider opening a short position with a stop loss set at the resistance level. This will enable us to confidently anticipate a strong rejection and make the necessary trading decisions accordingly.
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.
FTSE Elliott Wave Analysis for Wednesday 13/09/2023As expected we took out the high and the correction up looks complete now. This means wave X can be finished and we should see more downside as a wave Y. However, aligned with the US indices, we expect another corrective leg up.
FTSE Elliott Wave Analysis for Tuesday 12/09/2023As expected we went back into the wave X area to take out the previous high. This means we get an additional correction up as a wave X. This correction up does not look complete yet. We need at least one more high. Wave X up should be followed by further downside as a wave Y.
UK100 Bullish SeptemberDaily chart of UK100 is expected to Break up weekly resistance and trendline to follow a Bullish September Seasonal behaviour. Take Long positions after retest and new orderblock formation
Dow theory HHs HLs: Bullish
Candlestick Pattern : Bullish forming three soldiers
Support &Resistance: Orange line formed on Weekly chark
Trendline: Resistance approaching expected to breakup
Fibonacci: Bullish Touched 50% on daily
Seasonals: Bullish
Divergence: Bullish on 4hr
Pattern: Bullish Penant on Daily
FTSE Elliott Wave Analysis for Monday 11/09/2023 (+ Higher TF)For traders (lower timeframe):
The primary expectation is now that we will go back into the wave X area to take out the previous high. That would mean we get an additional correction up as a wave X. This move should be followed by further downside as a wave Y.
For investors (higher timeframe):
In the higher timeframe, investors should wait till the higher degree WXY correction is finished. It is still early but we are approaching the first relevant areas.
Decoding FTSE 100: Key Levels RevealedFTSE 100 Technical Outlook
This week's FTSE price action illustrates traders' sensitivity to interest rate expectations on both sides of the Atlantic.
On Tuesday, the FTSE experienced a post-bank holiday rebound, driven by weaker U.S. job numbers that were perceived to alleviate pressure on the Fed to raise interest rates further. Notably, Tuesday's rally resulted in the FTSE breaking and closing above the descending trendline formed by the lower swing highs from earlier this month.
However, the rally lost momentum when it encountered a short-term resistance zone around 7,500, mainly due to stronger-than-expected European inflation data that raised the likelihood of the ECB maintaining higher interest rates for a longer period.
Wednesday's reversal now presents a short-term resistance area that traders can monitor as we approach this afternoon's U.S. non-farm payrolls data.
A second failure at Wednesday's high would be bearish, potentially setting the stage for a decline toward the 7,200 support level (see chart below). Conversely, a decisive breakthrough above Wednesday's high might pave the way for an extended rally towards 7,625.
FTSE 100 Daily Candle Chart:
Support
S1 = 7,227
S2 = 7,204
S3 = 6,825
Resistance
R1 = 7,509
R2 = 7,625
R3 = 7,724
Risk management:
US non-farm payrolls is an event which has the potential to cause outsized market volatility.
Support and resistance levels should be used as a guide and are not guaranteed to hold.
Disclaimer: This is for information and learning purposes only. The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.
FTSE Elliott Wave Analysis for Friday 08/09/2023It looks like the primary scenario is playing out and we are reversing from the wave X area. We expect more downside as an ABC structure to finish wave Y.
Uk100 fx anticipated prediction kdfgoitjhi, fiovhoidhbiuho, ionviutgn9obe, vijnubv, fjviebutbtbutr,vbuitur, viubtubtr, vfiubr, jbveier
FTSE Elliott Wave Analysis for Thursday 07/09/2023It looks like the primary scenario is playing out and we are reversing from the wave X area. We expect more downside as an ABC structure to finish wave Y.
FTSE Elliott Wave Analysis for Wednesday 06/09/2023It looks like the primary scenario is playing out and we are reversing from the wave X area. We expect more downside as an ABC structure to finish wave Y.
FTSE Buy signalThe FTSE 100 Index (UK100) is consolidating on the 1D MA50 (blue trend-line) for the 5th straight day. This is the first pause to the uptrend that started on the August 18 bottom, right on the 6-month Support Zone.
With the 1D RSI still not close to the overbought barrier and the 1D MACD on a Bullish Cross, this is the last bullish signal towards the Lower Highs trend-line. Our target is 7690, just below the Resistance Zone.
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FTSE Elliott Wave Analysis for Tuesday 05/09/2023The primary scenario is playing out and we reached the wave X area. There are several indications that a reversal to the downside is near.
FTSE Elliott Wave Analysis for Monday 04/09/2023The primary scenario is playing out and we reached the wave X area. There are several indications that a reversal to the downside is near.
Strong Bull After RetracementThe UK100 Had been trying to pass this resistance for the couple of days and it keeps hitting this point multiple times but no if we saw a retracement above the resistance, I thing it will be a beautiful bull trade.
FTSE Elliott Wave Analysis Higher Timeframe (02/09/2023)In the higher timeframe, investors should wait for the next pullback to buy again. We are approaching the first relevant areas.
Bullish Daily Index Trading Analysis: FTSE vs. US Tech100To enhance the FTSE forecast and vary the wording, you could say:
"In the longer-term perspective, it's advisable for investors to exercise patience and wait for the upcoming retracement before considering new buying opportunities. We are approaching key support/resistance levels, which will play a pivotal role in our trading decisions."
Decoding FTSE 100: Key Levels RevealedFTSE 100 Technical Outlook
This week's FTSE price action illustrates traders' sensitivity to interest rate expectations on both sides of the Atlantic.
On Tuesday, the FTSE experienced a post-bank holiday rebound, driven by weaker U.S. job numbers that were perceived to alleviate pressure on the Fed to raise interest rates further. Notably, Tuesday's rally resulted in the FTSE breaking and closing above the descending trendline formed by the lower swing highs from earlier this month.
However, the rally lost momentum when it encountered a short-term resistance zone around 7,500, mainly due to stronger-than-expected European inflation data that raised the likelihood of the ECB maintaining higher interest rates for a longer period.
Wednesday's reversal now presents a short-term resistance area that traders can monitor as we approach this afternoon's U.S. non-farm payrolls data.
A second failure at Wednesday's high would be bearish, potentially setting the stage for a decline toward the 7,200 support level (see chart below). Conversely, a decisive breakthrough above Wednesday's high might pave the way for an extended rally towards 7,625.
FTSE 100 Daily Candle Chart:
Support
S1 = 7,227
S2 = 7,204
S3 = 6,825
Resistance
R1 = 7,509
R2 = 7,625
R3 = 7,724
Risk management:
US non-farm payrolls is an event which has the potential to cause outsized market volatility.
Support and resistance levels should be used as a guide and are not guaranteed to hold.
Disclaimer: This is for information and learning purposes only. The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.
FTSE Elliott Wave Analysis for Friday 01/09/2023The primary scenario is playing out and we reached the wave X area. There are several indications that a downward reversal is near.
FTSE Elliott Wave Analysis for Thursday 31/08/2023The primary scenario is playing out and we reached the wave X area. There are several indications that a downward reversal is near.
