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UK100 trade ideas

Elliott Wave View: FTSE Next Bullish CycleShort Term Elliott Wave View in FTSE suggests rally from 3/7/2022 low is unfolding as a 5 waves impulse Elliott Wave structure. Up from 3/7 low, wave (1) ended at 7669.56 and pullback in wave (2) ended at 7159.19. Internal subdivision of wave (2) unfolded as a double three where wave W ended at 7339.53, wave X ended at 7619.39, and wave Y ended at 7158.53 which completed wave (2). Up from there, wave (3) is currently in progress as another impulsive 5 waves in lesser degree. Index still needs to break above previous peak wave (1) at 7669.56 to confirm the next leg higher has started. Up from wave (2) low, wave ((i)) ended at 7538.68 and pullback in wave ((ii)) ended at 7228.67. Index then resumes higher in wave ((iii)) towards 7648.26, and dips in wave ((iv)) ended at 7529.23. Expect the Index to soon complete wave ((v)) higher which should end wave 1 in higher degree. Then it should pullback in wave 2 to correct cycle from 5/12/2022 low (7159.19) in 3, 7, or 11 swing before the rally resumes. Once the Index breaks above wave (1) at 7669.56, it should open up a bullish sequence from 3/7/2022 low with a 100% – 161.8% Fibonacci extension target of 8039 – 8582.
TVC:UKX
by Elliottwave-Forecast
FTSE 31st MAY 2022OANDA:UK100GBP have no power to breakout above the highest resistance area Aug 2019 - Jan 2020. Last month UK100 was bearish to the diagonal trendline support, and returned to the horizontal resistance area . However, at the end of 2021 there was a bearish divergence signal. where the price is bullish but the flat indicator value tends to bearish. Bearish potential on the UK100 Weekly, Check this out : UK100 Weekly Timeframe. According to the stochastic 5 3 3, it seems to be back in the overbought area, it will be strengthened to bearish if the indicator crossover.
OANDA:UK100GBPShort
by DNP-FX
FTSE100 One of the best index buysThe FTSE100 index is approaching its 2022, a rare feat among the leading global stock indices, the majority of which are making Lower Lows. This strength is technically derived by the bullish dynamics of the Fibonacci Channel Up it has been trading in since 2021, which only broke during March's correction. The price action since April 10 is similar to the sequence of August 11 - October 11 2021. The bottom on both pattern was made after the 1D MA200 (orange trend-line) broke. The latter sequence went on to make a Higher High on the 1.382 Fibonacci extension. That extension on the current pattern is around 7860 and that is our Target by July. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
OANDA:UK100GBPLong
by TradingShot
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