UKX trade ideas
Turmoils in the UKThe British benchmark index is in a rapid decline.
However, the market tends to simply "slip through" only in exceptional conditions, which I do not currently see in the overall market. There is a chance that there will be a short-term reversal at the March 2023 lows .
We place the SL a bit below the low so that we get a reasonable CRV of 3:1 .
In the longer term, it is likely that the FTSE will head for the area around 6,850 . There is a lot of liquidity down there and it wants to be cleared.
Therefore, there is also a short setup in the chart.
UK100 Long Trade AnalysisPlace buy stop above trendline on UK100 or wait for trnsline to break to get entry.
Manage your risk accoring to account size.
FTSE Elliott Wave Analysis Higher Timeframe (07/07/2023)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.
FTSE one shotThis won't be interesting. I need just one good entry point out of this. Spikes or candlestick patterns near the shapes. Continuation confirmation, or reversal. Breakout or fallout.
UK pumpI hope it's not too much, I know there are many drawings in this picture. I also hope, that once the future happens, everything will make much more sense. This is a vision inspired by what would or should or might. Happen.
FTSE, An opportinity for a lower high setupUK100 / 4H
Hello traders, welcome back to another market breakdown.
FTSE has been reversing making new lows, the price is in pull-back mode now which is an opportinity to get on the current trend. I'll be studying a position around the sell zone showen
on the chart.
Trade safely,
Trader Leo.
FTSE 100 Drops Below June LowEarlier we wrote about the reasons for the weak behavior of the UK stock market.
Firstly, it is the highest inflation among the G7 countries.
Yesterday JP Morgan analysts suggested that the base rate in the UK could be raised to 7% under certain scenarios. And the likelihood of a hard landing for the British economy next year is rising due to the impact of rising borrowing costs on business confidence and rising unemployment.
Secondly, this is a decline in commodity prices, which is important for the FTSE 100 index, where the share of oil and mining companies is relatively large. Commodity prices reflect expectations of a global economic growth outlook that has been overshadowed by news from China. There, according to the latest data, activity in the services sector in June grew at the slowest pace in 5 months.
At the same time, the FTSE 100 chart gives hope to the bulls, as the price of the index is at the level of the lower line of the descending channel (shown in red), which, it is possible, will show support properties for the FTSE 100, which may lead to a slowdown in the fall or even a short-term rebound.
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FTSE Elliott Wave Analysis for Thursday 06/07/2023In the higher timeframe, we are probably doing a pullback. Also, the lower timeframe looks bearish. For today, we do not see a trade. Traders should wait for the next ABC up and then initiate a short.
FTSE Elliott Wave Analysis for Wednesday 05/07/2023In the higher timeframe, we are probably doing a pullback. Also, the lower timeframe looks bearish. For today, we see an opportunity to go short (with the main direction). Traders should wait for a clear ABC up and then initiate a short.
FTSE Elliott Wave Analysis for Tuesday 04/07/2023In the higher timeframe, we are probably doing a pullback. Also, the lower timeframe looks bearish. For today, we see an opportunity to go short (with the main direction). Traders should wait for a clear ABC up and then initiate a short.
FTSE Elliott Wave Analysis for Monday 03/07/2023In the higher timeframe, we are probably doing a pullback. Also, the lower timeframe looks bearish. For today, we see an opportunity to go short (with the main direction). Traders should wait for a clear ABC up and then initiate a short.
uk100Uk 100
Let's waiting patiently for the price to push to our entry point
And collect few pips
Entry
Sl
And tp provided
FTSE Elliott Wave Analysis Higher Timeframe (01/07/2023)A pullback in the higher timeframe seems likely. We have 5 waves up as an impulse in the weekly and daily. However, as divergence in the weekly is not really outspoken, a new high is still possible. Investors should wait for the pullback to buy. Traders should analyze the lower timeframe.
FTSE Elliott Wave Analysis for Friday 30/06/2023In the higher timeframe, we are probably doing a pullback. Also, the lower timeframe looks bearish. For today, we see an opportunity to go short (with the main direction). Traders should wait for a clear ABC up and then initiate a short.
FTSE Elliott Wave Analysis for Thursday 29/06/2023In the higher timeframe, we are probably doing a pullback. Also, the lower timeframe looks bearish. For today, we see an opportunity to go short (with the main direction). Traders should wait for a clear ABC up and then initiate a short.
Consolidation today | 7467 7440 support | 7521 7540 resistanceA strong showing from the S&P500 yesterday also helped the FTSE100 climb well off the 7405 daily support level, after a brief move down below the 7430 support as well. Today may well see some consolidation, particularly for the S&P500, and also probably the FTSE 100 which now looks like it’s on its way to test the upper daily resistance levels at 7520 and 7545.
Initially today we have support at the 7467 level with the daily pivot ad the now green30m coral here, and as such we may well see a hold of this level to tee up a climb to the 7520 level.
If the bears were to break below this level then the 7440 offers the next key support with the Hull MA here on the 2h, and also S1 for today. 7421 below this is the key fib. That said I think we will more likely see a flat to slightly bullish day and an expecting more upside over the following sessions. Do bear in mind that seasonality again which had the weakness for the second half of June before resuming the bullishness to start July.
Worst case though below 7440 is the S2 level at 7398 and round number here too. The daily candles this week have long tails which shows there is good buying pressure at the moment.
And onto the bullish side of the coin, 7520 and 7545 as mentioned are the main levels to look out for today and a test of the 7520 looks quite likely. 7540 might well be a stronger stumbling block as we have have R2 and the top of the 10d Raff here, and it would also be a decent profit point for those long form the 7405 daily support yesterday.
FTSE Elliott Wave Analysis for Wednesday 28/06/2023In the higher timeframe, we are probably doing a pullback. Also, the lower timeframe looks bearish. For today, we see an opportunity to go short (with the main direction). Traders should wait for a clear ABC up and then initiate a short.
UK 100 FORECAST Hi there,
Looking at UK100 index which is approaching a MAJOR support level OB.
Uk100 has currently wicked some liquidity below the Lows of 1 june and forming some bullish hammer candles. But we want to see some big hammer candle or bullish engulfing candle to enter for longs as well as change of character on the trend.
4hr time frame = bearish
1hr time frame = bearish = shorting between from 7530 or 7500 range to major support
15mins time frame = bearish = shorting from 7500 to 7450
daily frame = 100pts from major support.
RSI showing small convergence.
UK100UK100 was trading in bearish parallel channel and finally breakout of channel with strong bullish impulse and also produced bullish on 4H TF. Will these confluences help the instrument for its bullish trajectory?
#FTSE100 #UK100 Targeting A The Weekly Trendline TestIn this update we review the recent price action in the FTSE and identify the next high probability trading opportunities and price objectives to target
*Past performance not indicative of future results
FTSE Elliott Wave Analysis for Tuesday 27/06/2023In the higher timeframe we are probably doing a pullback. Also the lower timeframe looks bearish. For today, we see an opportunity to go short (with the main direction). Traders should wait for a clear ABC up and then initiatie a short.
