FTSE Elliott Wave Analysis for Tuesday 01/08/2023Data is unclear for now. Ideally, we wait for the end of the upward structure and initiate a short from there.
UK100 trade ideas
FTSE EyesThis is a deduction drawing using the previous highs and lows to create something that might make sense. Potential support and resistance shapes from which the price might bounce again.
A machine learning instrument (AI) would probably detect these math equations and have an eye for the potential future bounces. Traders are usually busy trying to identify flags, channels, and other simple patterns. There might be some intelligence behind the noise that we perceive on the charts. There might be more math than randomness. Doesn't necessarily matter. This is just an experiment.
Elliott wave analysis UK100 indexDue to the completion of the main wave 5
We will expect a wave 5 correction
The correction ahead will be deep and fast
Good luck
FTSE Elliott Wave Analysis for Monday 31/07/2023Data is unclear for now. Ideally, we wait for the end of the upward structure and initiate a short from there.
FTSE Elliott Wave Analysis Higher Timeframe (29/07/2023)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. There might be a good short opportunity next week.
FTSE Ahead of a major bullish break-out.The FTSE 100 Index (UK100) is consolidating above the Support of the 1D MA200 (orange trend-line) with the 1D RSI at 66.250. This is the symmetrical level is was trading at during the November 04 - 09 2022 consolidation. Both near the 1.5 Fibonacci extension level.
That fractal eventually broke upwards, hit the Lower Highs trend-line (the dominant Resistance) and extended to Fib 2.0 even marginally surpassing the Resistance of the last Lower High.
We are going long on that buy signal and target the 7900 (Fib 2.0).
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FTSE Elliott Wave Analysis for Friday 28/07/2023In the higher timeframe, we are doing a pullback. Also, the lower timeframe looks bearish. We are waiting for the end of the upward structure and initiate a short from there.
UK100UK100 is trading at strong supply zone and also created very strong bearish divergence, these confluences putting sell pressure on uk100. as the inclining trendline also waiting for 3rd pivot to trendline. Will UK100 decline to support area ?
#FTSE100 #UK100 Two Way Trading Opportunities In this update we review the recent price action in the FTSE100 and identify some high probability trading opportunities and price objectives to target
*Past performance not indicative of future results
Trade 7692.8 (Long)Only fictional trading and no trading advise should be taken by me as I hold no responsibility but for my own financial investments. NB - I am not a financial advisor
FTSE Elliott Wave Analysis for Thursday 27/07/2023In the higher timeframe, we are doing a pullback. Also, the lower timeframe looks bearish. We are waiting for an ABC correction to the upside and initiate a short from there.
UK 100Buy setup on UK100 following a break of a strong daily resistance leading to the continuation of the larger buy trend.
UK100 looks to give us a move down.UK100 is now forming a bearish divergence and trying to break Neckline and if hourly candle closes below the Neckline, it should confirm the bearish signal towards our Take Profit Target.
FTSE Elliott Wave Analysis for Wednesday 26/07/2023In the higher timeframe, we are doing a pullback. Also, the lower timeframe looks bearish. We are waiting for an ABC correction to the upside and initiate a short from there.
FTSE Elliott Wave Analysis for Tuesday 25/07/2023In the higher timeframe, we are doing a pullback. Also, the lower timeframe looks bearish. We are waiting for an ABC correction to the upside and initiate a short from there.
FTSE Elliott Wave Analysis for Monday 24/07/2023In the higher timeframe, we are doing a pullback. Also, the lower timeframe looks bearish. We are waiting for an ABC correction to the upside and initiate a short from there.
UK100 looking BearishUK100 has formed a bearish divergence on 2 Hourly TF and looks weak at the moment which gives us an opportunity to wait for the right entry point to trigger our short position.
FTSE100 uk100 Short Setup I would like to see the FTSE index push up to the area marked BSL take out the LIQ and make a move to the downside .Potentially giving us a LH and a nice short entry .
FTSE Elliott Wave Analysis Higher Timeframe (22/07/2023)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. There might be a good short opportunity next week.
FTSE Elliott Wave Analysis for Friday 21/07/2023In the higher timeframe, we are doing a pullback. Also, the lower timeframe looks bearish. We are waiting for an ABC correction to the upside and initiate a short from there.
Footsie action - Retracement plzWaiting for FTSE100 to turn Bearish or seek support near bigger accumulation zones
FTSE 100 BOUNCES BACK ON UK INFLATION NEWSParticipants in financial markets were closely watching yesterday the data on inflation in the UK, where it is at the highest level among the G7 countries. The news turned out to be positive:
→ CPI was 7.9% (forecast = 8.2%, last month = 8.7%) in annual terms;
→ core CPI dropped from 31-year high from 7.1% to 6.9%.
Consequently:
→ the price of the British pound fell against the US dollar and other currencies;
→ the price of the FTSE 100 index rose sharply, rising from the July lows by about 5%.
Thus, the quotes demonstrate the expectations of market participants — they suggest that the Bank of England has received a reason to ease the ongoing tight monetary policy aimed at suppressing inflation.
The publication of the decision of the Bank of England is scheduled for August 3, and the interest rate can be raised only by 0.25%, although earlier 0.5% was called more likely.
The sharp rise in the price of the FTSE 100 has led to the fact that the descending channel is broken, as is the resistance level at 7,555. It is possible that after such a sharp impulse, we will witness a consolidation period, which may be limited to the levels of 7,555 and 7,690.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
