UK100 D1: BEST Level to SHORT IT +15%/+30% gains(SL/TP)(NEW)Why get subbed to me on Tradingview?
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UK100 D1: BEST Level to SHORT IT +15%/+30% gains(SL/TP)(NEW)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.
Tagged as SHORT because I expect massive
reversal from overhead soon.
🔸 Summary and potential trade setup
::: UK100 1day/candle chart review
::: market disconnected from reality
::: huge surge in COVID cases
::: massive lockdowns
::: economy melting down fast
::: BREXIT talks failing big time
::: bearish fractal in progress now
::: speculative XABCD setup
::: point C 6920 points
::: short-term bullish /more gains
::: HOWEVER heavy resistance overhead
::: 6900/6940 points heavy/final resistance
::: get ready to SHORT from overhead
::: BEARS will take over soon
::: lower risk setup is SHORT
::: get ready to SHORT HIGH later
::: once we hit resistance at 6900/6940
::: TP BEARS TP1 +15% gains TP2 +30% gains
::: SHORT/HOLD setup with great risk:reward
::: BEARS TP FINAL is 4700 points
::: recommend to SHORT/HOLD
::: recommended strategy: SHORT/HOLD
::: 6900/6940 reversal level to SHORT IT
::: SWING trade setup do not expect
::: fast/miracle overnights gains here
::: good luck traders
🔸 Supply/Demand Zones
::: 4700 fresh demand zone
::: 6900/6940 fresh supply zone
🔸 Other noteworthy technicals/fundies
::: TD9 /Combo update: N/A
::: Sentiment short-term: BULLS
::: Sentiment outlook mid-term: BEARS
Ftse100
ALL STOCKS ARE ABOUT TO CRASHHello all
DuncanForex here with a trade idea - with no advertising about anything so the post will stay active.
With the power move during February 2020 (The AB Move) and then a slower retrace to the previous area of support which is now resistance.
The FTSE broke out of its downward consolidation long and is now progressing higher over the past few weeks to the 61.8 Fib retrace.
Don't be fooled by this Bullish move, once it reaches 6600 area, it will consolidate again and i still think based on my analysis, the CD move will be completed and the FTSE will ultimately go to 3500 area.
You can see where i will be looking to short the market in the picture.
I do expect a bit of sideways movement, also some stop hunting, however my analysis for me suggests all stocks are going to plummet very soon.
Stay safe and safe trading
Duncan
07/12/2020 #FTSE $FTSE StrongTrend(Daily/Weekly/Monthly): Up/Up/Up
Depsite the selling in US futures, #FTSE remain resilient. But as the heading says, price is overextended. A pullback before further up is healthy. I will be looking at 6495-6507 and 6583-93 these 2 zones today.
Possible scenarios:
1) Price opens in RTH, rally to 6583-93 and fail, goes down to 6495-507. Watch for reaction.
2) Price opens in RTH, dips to 6537, get supported and rally. 6583-93 can still fail but probably less likely.
Support and resistance levels are indicated on the charts. Watch reaction around the levels and trade accordingly
FTSE to 6850?FTSE 100 cleared out the June peak at 6511 and holds gains this morning - a close at post-pandemic highs today would be bullish and calls for return to 6850 area, big multi-year Fibonacci level and early March swing high failure zone. Fundamentals are looking much more positive on UK equities now. As per Goldman Sachs this week the UK is a ‘buy’ is fast becoming the consensus view.
UK100- To break up?FTSE100 is consolidating just under important resistance that lies around 6500.
I believe this resistance will be broken to the upside and UK index could see a new all-time high.
A buy around 6400 would be ideal for this anticipated break and, with a 100 points SL could easily reach 1:3 R:R
ridethepig | FTSE Fundamental FlowsHere we are more or less back to square one as to where we were in July and testing away at the resistance.
Buyers are showing a lack of tenacity!
If after the Brexit fact (does not really matter if its a deal or hard brexit deal) we can see the possible outflow pressure really start to make itself felt. The strong counter here should immediately come under pressure with the initial loss of market access and broader global slowdown.
Once again (and with slow and steady pace) start to build some sell side exposure, abandon the overweight UK equities position and employ the following manoeuvres. A test of the centre looks rolled up and ready to take. Make excellent use of the flow towards 5,600.
Thanks as usual for keeping the feedback coming 👍 or 👎
$UKX Hourly - Bounce but no follow through Index bounced off lateral support following the hidden bullish RSI divergence identified yesterday, but has lacked any meaningful following through. Fundamentally I still think this index is overstretched and happy to put on a decent RR short trade here on the backtest of the broken upward channel. Yesterday we saw the first signs of a possible change in trend. 20 SMA flat lining, price below, and a break and backtest of upward channel. First target = next lateral support around 6205. SL = close above 20SMA around 6380.
$UKX Hourly - Yesterday's headline rally lacking momentumDidn't chase yesterday's rally following vaccine headline news - as said I don't like chasing price breaks on headlines and this was confirmed with the RSI divergence. Still trading within an uptrend. No position and continue to watch and wait for higher RR set ups
$UKX Hourly - Been a monster move, how long can momentum lastWould like to see a pullback around these levels. Fundamentally I feel move has been overdone and technicals are starting to show signs of agreement - lateral resistance and RSI divergence. ISAs in cash waiting for better levels to buy back in.
FTSE 100 FLYING!! **3 X TP'S HIT / OPEN +10.8% GAIN!**OPEN TRADE IF FOLLOWING TREND BASED ON 1% RISK IS RUNNING + 10.8%
OUR STRATEGY EXPLAINED:
The entry price, SL and multiple TPs are shown on the chart.
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We just have to do what Percy does.
Please see our related ideas below for more information to explain what we do and how it can help you.
FTSE100 continuing down? The FTSE100 has been trading in a downward channel since June, the daily timeframe shows price is weakening approaching the top of this channel and has given us an indecision candle. We can see on lower timeframes, 1h + 4h there is RSI divergence signalling potential for a bearish move. Will look for entry on 1h