#FTSE #UK100 Trading The CorrectionIn this update we review the recent price action in the FTSE100 and identify the next high probability trading opportunity and price objectives to target
*Past performance not indicative of future results
UK100 trade ideas
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.
FTSE Elliott Wave Analysis for Friday 11/08/2023As proposed yesterday, we sold the wave (x). If the current high does not hold, another short can be initiated. We now wait for more downside. Next step is to buy wave (y) and ((b)).
Regular Bearish Divergence on UK100I am working a strategy that includes divergence. But first I need to be able to IDENTIFY divergence. I will be posting 4 charts of 4 types of divergence. Feel free to give feedback.
These posts will not complete analysis of the instrument.
FTSE Elliott Wave Analysis for Thursday 10/08/2023We are somewhere in between and we have to wait for more upside or downside before entering a trade. In case of more upside, the wave (x) can be sold. In case of more downside, the wave ((b)) can be bought.
FTSE Elliott Wave Analysis for Wednesday 09/08/2023We are somewhere in between and we have to wait for more upside or downside before entering a trade. In case of more upside, the wave (x) can be sold. In case of more downside, the wave ((b)) can be bought.
UK100-BULLISHAs there is a Bullish divergence,
showing a Falling Wedge,
taking entry of buy stop
if last LH breaks,
EP:7570
SL:7484
RISK 1%
LOT:
TP01:7656
TP02:7742
FTSE 100 To continue momentum to the upsideTook a long position on the UK 100 last week as price retested my trendline and respected it as dynamic support. Expecting price to continue to be bullish as long as we continue trading above the bullish order block at 7453.2.
TP - 7903.1
SL - 7436.8
FTSE Elliott Wave Analysis for Tuesday 08/08/2023We are now somewhere in between and we have to wait for a bit more upside or downside before entering a trade. In case of a bit more upside, the wave (x) can be sold. In case of a bit more downside, the wave ((b)) can be bought.
FTSE 100 - Market outlookThe UK stock market continues unstable dynamics against the background of an upward correction in the bond market, which even positive corporate reports cannot compensate for. Thus, the automaker Rolls-Royce Holdings plc recorded revenue growth to 6.950B pounds, exceeding the 6.059B pounds expected by analysts, and earnings per share of 0.0218 pounds compared to -0.0088 pounds earlier.
In turn, pharmaceutical giant Gedeon Richter Ltd. showed a steady increase in revenue to 203.78B forints compared to preliminary estimates of experts at 185.33B forints, while earnings per share amounted to 155.0 forints, which is also higher than the forecasted 143.0 forints.
Meanwhile, local growth is observed in the domestic UK bond market: 10-year securities are trading at a rate of 4.4305%, rising by 1.22% relative to Friday's close, and conservative 20-year ones are trading at 4.678%, adding 1.63%. The upward dynamics is also recorded for 30-year bonds, which are currently held near the key yield level of 4.621%, rising by 1.13% since the beginning of trading.
FTSE Elliott Wave Analysis for Monday 07/08/2023We believe the wave ((b)) to the downside can be finished. If not, it becomes the next buying opportunity. A wave ((c)) to the upside should follow.
FTSE Elliott Wave Analysis Higher Timeframe (06/08/2023)The pullback in the higher timeframe is ongoing. We had 5 waves up as an impulse in the weekly and daily. Investors should wait for the completion of the pullback to buy. Traders should analyze the lower timeframe.
Market Uncertainty Deepens in Europe as Stocks Extend Losses
Stocks extended losses for a third day in Europe on Thursday amid rising uncertainty ahead of key macro data.
Risk appetite continued to fall after the downgrade of the US credit rating combined with the latest batch of mixed earnings reports sparked economic worries. Investors have seized the opportunity to limit their exposure to stocks while waiting for more bullish market drivers ahead of key macro data from the US and Europe.
While all eyes are likely to be on tomorrow's highly awaited US NFP, the focus of investors today is likely to be on the Bank of England's rate decision. While a 25 basis point rate increase is widely expected, there is still some speculation about the possibility of a more hawkish stance in the form of a 50 basis point rate hike, which has weighed on market sentiment.
Traders will closely scrutinise the speech of BoE Governor Bailey to glean insights into the outlook for interest rates and bond sales for the rest of 2023. While there is already speculation about a continuing hawkish stance due to stubbornly high UK inflation, investors remain cautious and await further clarity from the central bank.
The FTSE-100 index is currently testing its 50% Fibonacci retracement at 7,474.0pts, in a sharp bearish price action since the appetite for stocks fell everywhere, and we expect market volatility to increase further with today's and tomorrow's macro announcements.
Pierre Veyret– Technical analyst, ActivTrades
UK stock market weaker after the FITCH downgrade of the USSentiment seems to have taken a hit due to the recent FITCH downgrade of the US. We took a look at the UK stock market (we previously indicated a potential downward correction for the S&P earlier in the week)
What's concerning is the attempt to surpass the 61.8% retracement level, which stood at 7723 based on this year's movement. Unfortunately, it has experienced a clear setback from here. Currently, we find ourselves at the 55-week moving average, which sits at 7521. Should we not find support here, it opens the possibility of testing the 3-year support line at 7275.
