FTSE Bullish break-out taking place. Target 8650.Almost 2 months ago (August 30, see chart below) we called for a rejection of FTSE 100 (UK100) back to the Symmetrical Support Zone (SSZ), where our next buy entry would be:
As you can see, the price action duly delivered and the price has been gradually rising off the SSZ to the point where last week it broke above the Lower Highs trend-line. The 1W RSI is also about to make a bullish break-out above its own Channel Down.
We have seen this kind of pattern during the previous two Bullish Legs since late 2022. Every time they broke above the Resistance Zone, the price peaked around the 1.382 Fibonacci extension. As a resut, our new long-term Target is 8650.
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UK100GBP trade ideas
UK100 Tests Key Support, Bullish Rebound LikelyHello,
CAPITALCOM:UK100 has dropped below the 1M/1W/1D price point, with further declines expected in the near term. This bearish movement could potentially challenge the entire 1M support structure. If the price settles below 8130.8235, we may see additional drops. However, confidence remains strong that it will rebound from the initial 1M support and resume its bullish trend.
TradeWithTheTrend3344
UK100 Bearish : Potential Breakdown Below Key Support LevelThe UK100 is showing signs of potential bearish momentum. On the 4-hour chart, we can observe a clear rejection from the 8,325 resistance level, followed by a strong downward move, indicating increased selling pressure. The price is now approaching a critical support zone near 8,200.
UK100 - been waiting 8 hours for the price to formTeam, we have been waiting for the UK to hit our price to short
short price at 8392-97
STOP LOSS AT 8415
Target at 8676
Target at 8353
Target at 8336-27
Once it hit our first target - take 70% profit, the remaining bring stop loss to BE if you plan to target further.
The Best Way To Trade A Ranging Index (FTSE100)Many Indices will range from time to time, often as the direction for that particular economic zone becomes less clear.
That is typical for the FTSE, and at the moment worries around the highly anticipated UK budget are keeping it stalled.
This range has been repeated for a long period of time and gives you a gauge of the acceptable value of the Index right now amongst the vast amount of traders/investors alike.
It must be understood that an eventual break is likely, either up on risk on, or down on risk off (either globally, or specific to the FTSE and it's investor confidence levels).
For me, I like to look short nearer highs, long nearer lows. The longer this goes on, the lower the risk level must be as an inevitable break will come.
This is better as oppose to trying to 'guess' where investment will go in, or out of the FTSE. This strategy similarly can be applied to any other index when it stalls or indeed when it is in clear up/downtrend.
FTSE 100 H4 | Potential bullish breakoutThe FTSE 100 (UK100) is trading within a symmetrical triangle chart pattern and could potentially break above it to rise higher.
Buy entry is at 8,266.17 which is a potential breakout level.
Stop loss is at 8,210.00 which is a level that lies underneath a multi-swing-low support.
Take profit is at 8,331.28 which is a multi-swing-high resistance.
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Stable Position Above 1W PP Signals Bullish ContinuationHello,
The CAPITALCOM:UK100 appears to be heading towards a bearish phase in the short term, but the long-term trend remains firmly bullish. Despite the current price action, most investors still anticipate a bullish continuation. A stable position above the weekly pivot point would indicate a bullish continuation.
TradeWithTheTrend3344
UK100, what are we planning for todayTeam, after the US30/DOW data came out last Friday, we think the market is continuing to show some bullish momentum.
We are planning to trade on the UK market. First; the set-up is waiting for confirmation.
We will post the entry price and stop loss once the price is confirmed.
STAY TUNE.