FTSE100 - UKX - WHERE TO NEXT?Where to next?
Quick trade idea! A break to either direction.
Trade Journal
Disclaimer: Not Financial Advice
UKX trade ideas
6.5k First Target! UK100 / DAILYHere is the supplement to the scenario posted previously. We are forming a big downtrend with an ABCD and bearish flag. Creating new LL in near future.
6500 is the target.
Goodluck.
Preparing for 5k dump?? UK100 / 2HR We have formed a bearish rectangle that should follow with downside and potentially break off below the LL. Shorting from the top.
The final target for the long term is 5k. The most probable is 6500 in the near future.
Goodluck.
UK100 - A Big Test AboveIt's been a highly volatile period in the markets, with equities coming under severe pressure as a result of high inflation, the Russian invasion of Ukraine, and the sanctions against it that followed.
The UK100 has shown more resilience than its European peers during that time, in part as a result of the UK having fewer trade ties - particularly oil and gas - and due to the weight of commodity stocks within the index. Soaring commodity prices are naturally beneficial for those companies, which has to an extent shielded them during the declines.
Of course, they haven't been entirely immune, particularly those with direct exposure to Russia. The weakness in the pound may have also helped given how much revenue from FTSE 100 companies is generated outside of the UK.
That said, the index has still fallen into correction territory during that time and below the 200/233-day SMA band. After seeing support around 6,800 we have seen a partial reversal of those losses, buoyed by talks between Ukraine and Russia which both sides suggest are making positive progress.
It is now running into resistance in a very interesting area on the chart. The 50% Fibonacci retracement - February highs to March lows - falls around the 200/233-day SMA band which is now being tested as resistance, having previously been support. A rejection of this level could be a very bearish signal while a break above here could be quite the opposite.
Ultimately, this is a very headline-driven market and volatility is expected to persist. If we do see a move above, 7,335-7,400 is the next big test, with the 61.8 fib, 55/89-day SMA band and prior resistance combining. A failure at the 50 fib could see attention shift back to 7,000 - a major psychological barrier, prior support and resistance, and roughly the mid-point of the recent lows and highs.
Scalp trade for UK100Hey guys,
I've been scalping for 2 years and decided I woud start sharing my ideas.
Waiting for:
RSI confirmation
EMA confirmation
Trend already acknowledged
Key levels mapped out.
I'm in and out pretty quick, 10-15 pips with a decent lot size. This is just my method and works for me. I wouldn't recommend this if you are new to trading or inexperienced with good entries/exits.
Trading PsychologyA positive mindset is perhaps the most important part of a successful trader's approach to the forex. Of course, developing the proper trading psychology is no easy task. Unless you are one of the chosen few who is not subject to the human element, taking a few tips from the market pros can help you consistently align risk to reward. Trade with no emotion as they say. Master your mind and you master yourself. Keep calm and may the pips be with you! :)
UK100GBP turning bearishEvening folks. I noticed this ascending channel on the UK100GBP which seems to have broke the support line. Could this be a false break out or is UK100 heading towards a bear market. If we get a few closes below the current channels support then we could see price fall. As for my strategy i'll be waiting for the cloud to turn red, a conversion line and base line crossover and price to move under the cloud. This could still take a few weeks but its worth keeping an eye on this one.
Let me know your thoughts or analysis.
cheers.
The Stars are Aligning: FTSEEntered a nice short, anticipate bearish correction with potential for bear market.
What Is The Best Forex Trading Platform?To decide on the best platform we took the following consideration into account:
*Functionality: A solid platform must combine cutting-edge technology with a user-friendly interface. The result is a robust, powerful trading suite.
*Latency: In the contemporary forex market, speed is a commodity. Top-tier platforms eliminate unwarranted latencies in the areas of data-streaming and order entry. In doing so, they enhance the efficiency of the entire trading process.
*Advanced Features: Today's forex trader is more dependent than ever on technical analysis . The best trading software should be equipped with a diverse array of tools and indicators, a multitude of charting alternatives and customization options.
*Cost: Trading platforms should be free or affordable.
How Much Money Do I Need To Trade?Conventional financial wisdom tells us that to make money in the markets, one must first have a small fortune. While this assertion may hold true in real estate or government bonds, forex trading gives individuals of all capitalizations an opportunity to generate consistent profits.
Putting a hard figure on how much money one needs to trade forex is relatively straightforward. It is a function of strategic concerns and expectations, specific to each trader. As long as resources are in line with market-related objectives, success is possible for all account balances, large and small. Remember, you don't need a massive initial deposit to start trading forex. All you need is the three Ds—desire, dedication and discipline!
Ways To Determine Some Of The Best Forex Brokers1. Trading Costs
2. Customer Service
3. Dealing Desk, Or No Dealing Desk
4. Trading Platform
5. Margin
6. Regulation
A variety of choices among forex brokerages has arisen that may make the decision of whom to work with seem daunting. However, if traders follow some basic guidelines in regard to cutting costs and maximising the efficiency and security of their activities, they will be more likely to ensure that their trading will be a positive and profitable experience.
Is Forex Profitable?As the world's largest financial market, the forex attracts millions of participants from around the globe on a daily basis. The result is a highly liquid, diverse trading venue that caters to the needs of retail and institutional investors alike. Whether you're a forex market newcomer or professional, the ultimate goal of active trade is the same: sustain consistent profitability.
So, is it possible to actually make money trading currencies on the forex marketplace? The answer is yes. Although succeeding as a foreign exchange trader is not easy, it is done every day by people from all walks of life. Given the proper resources and understanding of risk management, forex trading can be a profitable endeavor.
Is Forex Trading a Good Career?For anyone interested in beginning a forex trading career, it's important to thoroughly evaluate the advantages and disadvantages listed above. If the cons of forex outweigh the pros for you, then it may be better to search for a more suitable line of work.
However, it is possible that people could build a career in the foreign exchange market. The freedom to conduct forex trading autonomously and remotely is truly life-changing for those up to the challenge. Given adequate risk capital, connectivity and a solid forex brokerage service, it is possible to make a good living trading major, minor, or exotic currency pairs.
So, is forex trading a good career? The answer to that question depends upon one's resources, aptitude and interest. If you have the three Ds―desire, discipline and dedication―then yes, forex trading can be a profitable and gratifying way to make a living.
Advantages And Disadvantages Of LeverageAdvantages
*Enhances Capital Efficiency: In forex, capital efficiency is the comparison of how much money is being risked relative to potential profits. High degrees of leverage help traders maximize the potential of their risk capital and turn minimal investments into substantially larger returns.
*Extraordinary Profits: The greater the applied leverage, the greater the potential profits. Through opening inherently large positions in the market, beneficial moves in pricing can produce extraordinarily positive returns.
Disadvantages
*Risk: Make no mistake—applying leverage exponentially increases the trader's risk exposure. As position sizes grow larger, per PIP values also grow. In the case of sudden volatility , capital drawdowns on heavily leveraged positions may be severe. If margin requirements aren't able to be met due to unrealized losses, margin calls and premature position liquidations are possible.
*Stress: The physical and mental stress associated with trading highly leveraged forex positions can be intense. As leverage is increased, the "stakes" of each trade go up dramatically. Subsequently, trader psychology often changes, with big profits leading to a state of euphoria while sizable losses prompt desperation. When in a euphoric or desperate state, traders are more inclined to make emotional decisions rather than strategic ones.
UK100 Index Sell IdeaThis is going to be a amazing trade.
Details are on the chart but price is making huge lows and huge lower highs and huge lower lows on the hour 4 time frame.
So there is a confirmation to sell.
Can You Trade Forex And Have A Day Job?For many, working a full-time job is a non-negotiable part of life. Sustaining an existence, no matter how meager or lavish, often requires the dedication of most of our waking hours. Expenses such as rent, a mortgage, utilities, food and transportation are obligations that must be satisfied. While there are exceptions, meeting these challenges typically requires securing full-time employment, Monday through Friday.
Regardless of one's chosen profession, working hours typically represent a major portion of our lives. For those who secure employment in the financial markets, the scenario is certainly no different. However, the extent of time spent at work does vary depending upon location, culture and industry.
Therein lies one of the biggest advantages to trading currencies on the forex: flexibility. No matter where one lives, or what one does for a living, it is possible to trade the forex. The only prerequisites to trade on a full or part-time basis is desire, an internet connection, computing power and a broker. If you have these assets, then you can become a forex trader.
Forex Day TradingThe forex market is often viewed as a day trader's dream. Frequent opportunity coupled with the availability of financial leverage are attractive characteristics to anyone interested in pursuing a career as a professional day trader. No matter if one is an intraday scalper, momentum, or breakout trader, the forex market has a suitable currency pair for the endeavor.
Unfortunately, common pitfalls such as overtrading and the improper use of leverage can lead to substantial capital loss. Although the development of a comprehensive trading plan can help mitigate these issues, short-term trading remains a formidable challenge not suitable for everyone. However, through the implementation of strong analytics, as well as prudent risk and money management principles, it is possible to consistently make money trading forex.
Bullish Harmonic Pattern! UK100 / 1HRAcross many EU indices, we are seeing the formation of a bullish harmonic (shark).
Goodluck.
Bullish EngulfingBullish Engulfing on UK100, we keep our LONG position targeting the upperside of the green block. Target is calculated with the fib extension tool.
Stoploss placed below the red block.
Attention: This is not financial advice, we only share our trades on Tradingview and we do not encourage you do take action. Please always do your own analyses.
FTSE ANALYSISTHE Bulls bought strong enough to push the market at higher prices with the bullish channel so its a long swing opportunity for who trade THE FTSE INDEX
Uk100 sell ideaHoping to see a nice rejection from the fib level then hopefully a nice ride down to the last low, hitting areas of resistance from previous lows.
Uk100 Sell Setup Highs and Lows getting lower, Retesting previous low, Bearish Flag and ABCD formation
