Jump to content

FTSE 100 post Brexit


Mercury

Recommended Posts

If the Large Cap US stock indices post a new all time high then the FTSE will catch a bid.  There has been the expected overreaction to the Leave vote but in the context of the start of the pre vote rally (from June 16 lows) the market is actually up (weird right!).  As Carney announces his packages of support and the Fed joins in I see a rally up to a Wave 2 retrace (see weekly chart).

 

However I can't yet say for sure if the wave B (Pink) has been posted.  If it has then we should see a retrace back down in 1-2 form before a rally up but if not then a fresh low to complete the Wave B (Pink) could see the market hit the 5500 level.  Having said that the price hit perfectly on the Daily chart down tram (red) and a set of parallel trams shows the area of a possible Wave 2 high (purple).  Ideally I would like to see a bottom on the key indicators to coincide with Wave B (Pink so a close further low could be the resolution to this before a strong rally.  Key will be what the US markets do in my view.

 

 

 

 

Link to comment

Archived

This topic is now archived and is closed to further replies.

  • General Statistics

    • Total Topics
      23,564
    • Total Posts
      96,863
    • Total Members
      44,138
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    avocadotoast
    Joined 29/11/23 04:20
  • Posts

    • I do have similar experience and found a lasting solution to my impatience, yeah cos that's what cost us this kinda costly mistakes. 
    • Elliott Wave Analysis TradingLounge Daily Chart, 29 November 23, XRP/ U.S. dollar(XRPUSD) XRPUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Triangle Position: Wave ((E)) Direction Next higher Degrees: wave 4 of Impulse Wave Cancel invalid level: Details: the Movement within a triangle pattern XRP/ U.S. dollar(XRPUSD)Trading Strategy: Zigzag pattern correction, we have Wave A completed and prices developing in Wave B before entering a downside move in Wave C, which is likely to test the 0.42987 level. XRP/ U.S. dollar(XRPUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, Wave Oscillators a Bearish Momentum. TradingLounge Analyst: Kittiampon Somboonsod, CEWA Source : TradingLounge.com get trial here!         Elliott Wave Analysis TradingLounge 4H Chart, 29 November 23, XRP/ U.S. dollar(XRPUSD) XRPUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Zigzag Position: Wave C Direction Next higher Degrees: wave (Z) of triple Corrective Wave Cancel invalid level: 0.52954 Details: : the five-wave decline in Wave c XRP/ U.S. dollar(XRPUSD)Trading Strategy: Zigzag pattern correction, we have Wave A completed and prices developing in Wave B before entering a downside move in Wave C, which is likely to test the 0.42987 level. XRP/ U.S. dollar(XRPUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, Wave Oscillators a Bearish Momentum.      
    • TradingLounge's Commodity Market Update: Favorable Trading Opportunities in Gold and Silver Persist; We Maintain and Expand Our Positions in These Markets. Uranium Shows Upward Movement in Wave 3, Indicating a Substantial Bullish Trend for Long-Term Investment. Natural Gas Continues Its Downward Trend, While Crude Oil Prices Face Restraints Due to Saudi Arabia's Strategy for Higher Prices. Our Long Trade in Crude Oil is Now in a Promising Position with Reduced Risks. The USD DXY Approaches its 61.8% Retracement Level, Expected to Find Support. Yields Could Have Reached a Peak as TLT Bonds Show an Inverse Low. Video Chapters 00:00 Bitcoin (BTC)  08:40 US Dollar Index, DXY 11:15 TLT Bonds. US Gov Bonds 10 Yr Yields 15:50 Precious Metals: Spot Gold  / US Spot Silver / XGD and Gold Stocks US / ASX 25:19 Base Metals: XME ETF, Iron Ore, Copper. Uranium URA. 31:08 Energy: XLE ETF / Crude Oil / Natural Gas  40:15 End Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817 Source: tradinglounge.com  Access Trial here  
×
×
  • Create New...
us