Simple analysis on UK100Showing you just a simple analysis on buying a long position for UK100
Just find the breakout long candle for entry
Have a good week ahead
UK100 trade ideas
Layup trade in FTSE 100?The FT100 has formed a descending triangle over the past 53 days, with 14 showing the price settling into a small rectangle pattern. The rectangle pattern is my favourite setup, and both patterns are equally significant, making managing entries and stops easy.
A break below 8,110 suggests the stock could drop by 2.6% to 7,899, while a break above 8,284, the upper limit of the rectangle pattern, could lift the price to 8,462. We are looking for a breakout in either direction, ideally confirmed by movements in other stock indices.
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Took off for an ATH?After ranging for a few weeks, it seems it's accumulated enough liquidity to keep the momentum to create a new ATH.
Bearish drop?UK100 is rising towards the pivot which acts as an overlap resistance and could potentially drop to the 1st support which has been identified as a pullback support.
Pivot: 8,221.18
1st Support: 8,135.01
1st Resistance: 8,281.68
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UK100UK100 is trading in range bound with 150 pips range.
some time ranges are the best things to play just buy the support and sell the resistance.
as this one is 100 pips range which can deliver fine risk to reward.
currently the price is at support level and being rejected due to buying pressure.
will the pair head back to resistance area ?
what you guys think of this idea ?
Analysing the FTSE 100's Summer ConsolidationSince mid-May, the FTSE 100 index has been in a consolidation phase. In this analysis, we'll build a picture of this phase by sequentially adding technical indicators to the daily candle chart of the FTSE 100. While technical indicators can provide valuable insights, overloading a chart with too many can be overwhelming. We'll take a methodical approach to enhance clarity and understanding.
Horizontal Support and Resistance
Let’s start with the fundamentals of price action trading – horizontal support and resistance levels. For many traders, these levels are all that is needed to make informed decisions.
Even this minimalistic view of the FTSE provides valuable information about market price action. We can see that the market has started to establish an area of support in recent weeks. During the last month, the FTSE has formed four swing lows around a similar level.
Past performance is not a reliable indicator of future results
Price Pattern Observation
By mapping the recent series of swing highs and lows, we can see a wedge pattern starting to emerge. This wedge suggests that the market is being "funnelled" into an apex, a formation that often precedes significant trending moves.
Past performance is not a reliable indicator of future results
Anchored VWAP
Adding the volume-weighted average price (VWAP) anchored to the April swing lows, which preceded the last trend leg higher, we see that the FTSE is consolidating around the anchored VWAP. The VWAP is moving horizontally, indicating the market has reached a short-term equilibrium.
Past performance is not a reliable indicator of future results
Fibonacci Levels
Adding the 50% Fibonacci retracement of the recent trend from April to May, we find it aligns with the horizontal support levels formed over the last month. This adds depth to our market structure analysis.
Past performance is not a reliable indicator of future results
Volume
Finally, we add a volume histogram to our chart, which shows decreasing volumes in recent weeks – a common summer trend. A breakout above the wedge on rising volume may indicate the FTSE’s long-term uptrend is ready to resume.
Past performance is not a reliable indicator of future results
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UK100 to find support at market price?UK100 - 24h expiry
Price action looks to be forming a bottom.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
Dip buying offers good risk/reward.
We look for a temporary move lower.
Further upside is expected although we prefer to buy into dips close to the 8175 level.
We look to Buy at 8175 (stop at 8135)
Our profit targets will be 8275 and 8295
Resistance: 8480 / 8570 / 8720
Support: 8010 / 7870 / 7725
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Heading into 50% Fibonacci resistance?UK100 is rising towards the pivot which acts as an overlap resistance and could reverse to the 1st support.
Pivot: 8,234.64
1st Support: 8,165.20
1st Resistance: 8,272.91
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
FTSE 100 Index Behaves Bullishly Amid ElectionsFTSE 100 Index Behaves Bullishly Amid Elections
On Friday, the FTSE 100 index rose by 0.4% to 8273 points, continuing its 0.9% rise on Thursday. According to Trading Economics, the centre-left Labour Party, as expected, won the parliamentary elections and secured a majority, ousting the Conservative Party after 14 years in power.
The Labour Party emphasised the importance of economic stability in its decisions and committed to strict budgetary spending rules.
Prime Minister Sunak conceded defeat, and the UK stock market positively received the official election results. As shown by the chart, the FTSE 100 index (UK 100 on FXOpen) has risen by approximately 1.9% from the July 2nd low.
However, the situation remains unfavourable for the bulls.
According to the technical analysis of the FTSE 100 (UK 100 on FXOpen) chart:
→ the market has formed an upward trend (shown in blue), but its relevance remains in question;
→ the B→C rise constitutes 50% of the A→B downward impulse – a bearish sign;
→ in June, the price formed a range zone (shown with red lines), within which it currently resides.
In a favourable scenario, the bulls may break the upper boundary of the red range to return within the long-term channel.
Otherwise, the long-term blue channel will lose its relevance, and the Labour Party may experience a period of decline in the FTSE 100 index (UK 100 on FXOpen) early in their term.
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FTSE Losing Steam (Next Moves)Previous long zones have presented themselves repeatedly around the current area, and lower highs have brought a continuous return to these areas.
This is because the long side bias that existed for so long around UK Stocks has started to fade.
Buying, therefore, comes with caution. Would not be shocked if you get lower nearer 8060.
Only RE-shorting on pushes back up to continue lower high structure.
FTSE 100 Inverted Cup-And-Handle Hints at Bearish BreakLike Germany's DAX that we highlighted earlier today, the UK's FTSE 100 is also on the verge of a bearish break down after a strong start to 2024.
The UK index has formed a clear inverted cup-and-handle pattern over the last 10 weeks. Akin to the "head" and "right shoulder" of a head-and-shoulders pattern, this setup shows fading buying pressure and a potential reversal of an established bullish trend if the neckline, in this case at 8110, gives way. In that scenario, the UK index could erase much of the Q2 gain and retreat toward the 200-day MA around 7800.
FTSE-100 : SELLERS TAKE CONTROL- The market is trading above a bullish trendline since February-2024 ; the long-term trend is then bullish.
- However, recently the upcoming general election has risen a lot of uncertainty in the UK.
And with such a blurry political outlook, many investors have chosen to readjust their portfolio's exposure, which led to a pull back in prices.
This pull-back led the market back to its mid-term bullish trend line for a fifth impact.
The RSI indicator has already broken-out its own bullish-trend line, confirming that sellers are now in control.
Both moving averages have registered a bearish cross and reversal, which also supports the case of a bearish continuation.
- The anticipated bearish break-out registered by the RSI, combined with the current political uncertainty, tends to allow us to expect the bullish trend to be invalidated soon.
We expect the market to remain volatile on the short-term basis, while next support levels can be located around 8,075pts, 4,945pts and 7,820pts by extension.
Pierre Veyret, Technical Analyst at ActivTrades.
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All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
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UK100 FTSE100 - ABC Correction Uderway?Hello Guys,
The yearly Candle is slightly Bullish - but we did not see a break on a closing base of the crucial 7900 area -> ATH.
A Retest of this area would constitute a Bullish setup - which I would be happy to be part of after the last rallye.
Q2 Close - Doji -> might see a consolidation phase from here with a sideways to down mentality - considering the recent gains the bulls had.
The monthly Bias is Bearish. A Bearish Engulfing Pattern (Although a small one) has been formed. The Stochastic confirms a Bearish Bias - not totally contradicting the higher Timeframes! So Bulls be prepared for some drop… Just an idea from my side. A Double Top at 8400 would be a strong sign of Bears being back.
-> For the bulls 7900 has to hold - for the bears 8400.
Thats all for now…
Thanks for reading
