FTSE - Stalled just in front of our entry level. Good enough?DAY TRADE - EXPIRES AT 9PM
We were looking for a dip to buy today but the market appears to have stalled in front of our entry level. Is this good enough reason to get long?
Overall we remain bullish.
Trade Idea
The overnight rally has been sold into and there is scope for further bearish pressure going into this morning.
Bespoke support is located at 7465.
Negative overnight flows lead to an expectation of a weaker open this morning.
As this corrective sequence continues we look to set longs on a dip at better risk/reward levels.
Further upside is expected although we prefer to set longs at our bespoke support levels at 7465, resulting in improved risk/reward.
We look to Buy at 7465
Stop: 7425
Target 1: 7545
Target 2: 7600
Ftse100
FTSE100 TO RALLY INTO DAILY HIGHSFTSE100 has recently tested a key demand zone and formed bullish price action.
We can expect this market to continue higher with targets being the daily highs.
The price is also supported by the 20 and 50 EMA pointing upwards with price rejecting
the key demand zone and the 20EMA.
FTSE 100 Breaking Resistance Levels!Last post: June 18th 2019. See chart .
Review: Price had just broken a resistance level.
Update: Another resistance level was broken with a strong breakout.
Conclusion: Price looks strong and we eventually want to see a break of the previous all-time high.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments!
Sublime Trading
FTSE UK Stock Index ( 7,190 is a very strong support)Updated View On FTSE (16 Apr 2019)
Back Ground: The bullish "immediate" momentum has definitely slowed. There may be pullback along the way. Watch out the region of 7,190 regions as it may act as strong support.
Target(s): Neutral
SHTF: It will use 7170 to 7190 as strong support region.
DYODD, all the best and read the disclaimer too.
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FTSE 100 Breaking OutLast post: June 12th 2019. See chart .
Review: Price was around the daily 50 simple moving average.
Update: We have seen a nice move up today, breaking above a previous high.
Conclusion: The FTSE 100 is looking strong and we would like to see it break above the next resistance level.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments!
Sublime Trading
FTSE 100 Bounces Off SupportLast post: May 13th 2019. See chart .
Review: Price was heading towards the support level shown in the last post.
Update: Moves have been made to the upside.
Conclusion: Price is still in consolidation but has shown strength recently which we want to see continue and see further moves to the upside.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments!
Sublime Trading
FTSE 100 Index Chart (UKX) Bullish & Bearish ScenariosHello my dear readers, here we would like to take a look at two different scenarios FTSE 100 Index Chart (UKX).
Let's start with the bearish scenario because this is the one that is in play right now... Feel free to hit like to show your support.
Looking at the chart above, we can notice a huge descending channel (bold brown dashed line) and we have two rising wedges.
The first rising wedge resulted in very strong drop after the FTSE 100 broke below EMA10, this is marked with a red arrow.
The second rising wedge is in play now and the FTSE 100 already broke and closed below on EMA10 (green), EMA50 (magenta) and EMA100 (blue) lines.
Taking this into consideration and the bearish indicators, MACD and RSI, the FTSE 100 Index has high probabilities to continue falling, this is represented with another red arrow. The dashed green and red lines at the bottom represent the last low and strong support.
Conditions for change: Now we take a look at the bullish scenario. If the FTSE 100 (UKX) can break above EMA10, it has the chance to continue going up. Any trading below this indicator and the bearish potential remains.
We believe based on the chart as it is now, that the FTSE 100 can continue falling.
Thanks a lot for reading.
This is Alan Masters.
Namaste.
FTSE100 - Indices Trading | Elliott Wave Structures | Q2 2019*Please support this idea with a LIKE if it helps you. Thanks!
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FTSE100 - Elliott Wave Outlook
Bearish Swings - Patterns:
Flat Structure in Cycle Wave IV (green)
Primary A (turquoise) - Simple Correction
Primary B (turquoise) - Complex Flat
Primary C (turquoise) - Bearish Extension
Bullish Swings - Patterns:
Leading Diagonal in Intermediate (A) (blue)
Next expected swing:
Bearish sequence in Intermediate (B) (blue)
Structure change:
Breach of the lower trend-line could lead towards Intermediate (B) (blue) already in play.
EURO CURRENCY INDEX (EXY) 4-HOUR TIMEFRAME SHORTThe Euro currency index has been moving in a series of lower highs and lower lows following the unsuccessful European Union parliamentary elections and also all the clouds surrounding Mrs. T. May. A break above the 112 price level will invalidate this idea.
Short-sellers can target the 110.5 area, which is the bottom of the descending channel, as a potential profit-taking level.