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UKX trade ideas

Has FTSE formed a swing low?UK100 - Intraday - Previous support located at 7600. Previous resistance located at 7650. Price action has continued to trend strongly lower and has stalled at the previous support near 7500. Price action looks to be forming a bottom. Risk/Reward would be poor to call a buy from current levels. A move through 7650 will confirm the bullish momentum. We look to Buy at 7521 (stop at 7456) Our profit targets will be 7681 and 7711 Resistance: 7650 / 7700 / 7750 Support: 7600 / 7500 / 7400 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:UK100GBPLong
by OANDA
UK100 GB Weekly DOJI candle, reversal of the trend SHORT Hello fellow traders, This analysis is a continuation of my earlier short position which was closed and waited for the signal to re-open and as you can see weekly Doji candle indicates the reversal of the rising trend, resistance zone above as s/l and support being the target of t/p- Risk reward- 1: 3.6 ! This is just my idea not a trading advise, always protect your losses with a s/l you can handle without tearing your hair :D
OANDA:UK100GBPShort
by lb-counts
1
Impulsive Elliott Wave Decline in FTSE Calling More DownsideFTSE ended cycle from 3.16.2020 low with wave I at 8047.06. The Index is now in the process of correcting this 3 year rally in wave II. The internal subdivision of wave II is unfolding as a zigzag Elliott Wave structure. A zigzag structure is a 5-3-5 structure with ((A))-((B))-((C)) as the label. Wave ((A)) and ((C)) in this case subdivides into 5 waves impulse. In the 1 hour chart below, FTSE is still within wave ((A)) of II with subdivision as 5 waves. Down from wave I, wave 1 ended at 7978.61 and wave 2 ended at 8020.13. The Index then resumes lower in wave 3 towards 7870.39, and wave 4 ended at 7949.97. Final leg lower wave 5 ended at 7854.82 which completed wave (1). Rally in wave (2) ended at 7976.48 with subdivision as a zigzag structure. Up from wave (1), wave A ended at 7950.69 and pullback in wave B ended at 7875.03. Wave C higher ended at 7976.48 which completed wave (2). The Index resumes lower in wave (3). Down from wave (2), wave 1 ended at 7897.45 and rally in wave 2 ended at 7959.77. Expect the Index to extend lower 1 more time to end wave 3, then it should rally in wave 4 and extends lower again. Near term, as far as pivot at 7976.48 high stays intact, expect rally to fail in 3, 7, or 11 swing.
TVC:UKX
by Elliottwave-Forecast