Depressing news | Brexit negotiations | FTSE 100 forecast prediction | 7450

19th June 2017

News is jolly these days – race wars and anarchy, and thats just London. Iran has lobbed some missiles at Syria in response to an attack on them. Brexit negotiations start today and FTSE 100 futures are up. Gold has continued decline now around the 1250 level, while cable is getting closer to moving above 12800 again. We have a bullish 2 hour chart on the FTSE 100 now, following the strong close on Friday near the 7500 level, support now at 7450. The bounce from the 7385 low the other day where we had the bottom of the 20 da Raff has held well and seems to be gaining some traction now.

FTSE 100 Outlook and Prediction

FTSE 100 Prediction Daily Channels
FTSE 100 Prediction Daily Channels

To start with we have resistance at 7535 and an initial spike up to this area may well be worth shorting. We have bull Monday, against an uncertain back drop, however the FTSE 100 looks fairly bullish to start with. If we do get a drop back then the 7450 area is decent support, with 7411 below this. If the bears were to break 7400 then a trip down to 7300 or lower is still on the cards.

If the bulls can push above 7535 today then a retest of the recent high at 7600 is the likely target area, and we have the top of the Raff at 7577 and 7600 at the moment.

The news backdrop isn’t too conducive to a stable situation really, and there was also news that house prices are slowing, and even declining in some parts. Thats will led to further belt tightening I would expect as people tend to do when house prices slow. There are a lot of RSI divergence signals appearing on the 30min chart this morning also, so the rise might have got ahead of itself firth thing, which is why I am thinking that an initial spurt up at the open might well retrace. 7450 looks pretty key for today.

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26 Comments

      1. My feeling is and has been, although last week was very difficult, that we will end up back towards 7600. We have a Dow that just seems to keep pushing with no signs of a let up YET !!!

  3. Had a short order at 7530 this morning, missed by 1 point! I think a grind back up this afternoon when the US hits the buy button again….

  4. Messed up today big time. Lost 300 quid in the morning staking 5, 10 whatever chasing the first lost trade and ended up losing loads cos I needed to go out. I tell you people, if someone calls you, just switch off your phone, cos I was invited to help and tried to make a fast trade profits “in a hurry”, there was no strategy. I just knew it was gonna be long.
    I was annoyed at the meeting, somewhat depressed and when I came home I deposited and won back those 300 on the rises on Dax and Dow, trading both at the same time: Dax cashed in, then Dow cashed in, trading up to £8pp. But got there in the end. On Dow 21438-477, Dax 12868-12895.
    0 profits today, what’s the point of it? I would have taken that long after the visit and had my profits. Instead I’ve got to deal with withdrawal, plus extra charge of 60 quid on MasterCard, which I also had to win.
    I’m switching off my phone in the future. But I was lucky today in the end.

  5. Messed up today big time. Lost 300 quid in the morning staking 5, 10 whatever chasing the first lost trade and ended up losing loads cos I needed to go out. I tell you people, if someone calls you, just switch off your phone, cos I was invited to help and tried to make a fast trade profits “in a hurry”, there was no strategy. I just knew it was gonna be long.
    I was annoyed at the meeting, somewhat depressed and when I came home I deposited and won back those 300 on the rises on Dax and Dow, trading both at the same time: Dax cashed in, then Dow cashed in, trading up to £8pp. But got there in the end. On Dow 21438-477, Dax 12868-12895.
    0 profits today, what’s the point of it? I would have taken that long after the visit and had my profits. Instead I’ve got to deal with withdrawal, plus extra charge of 60 quid on MasterCard, which I also had to win.
    I’m switching off my phone in the future. But I was lucky today in the end.

    1. Hi Jack,somedays it just goes all pear shaped….desperation trades at bigger size than you normally do can easily end in tears…ask me how I know :0)….anyway you got out OK to trade another day…..that’s a great result :0) good luck…

    2. I think it’s the heat, anstel, brain does all sorts. And in general they were correct trades if I held 12850, 12840 longs, I got it on the drop and didn’t understand why the b..d continues falling and then not rising and I needed it by 11 am. And then what I do, I come out and start shorting 37, 44.. when it got to 52 I just closed and separated myself from computer before I did worse. If I left those shorts I can imagine how impressed I would be when I came back. I came back at around 1.30 and starting vigorously longing (Nick said Dow will press the long button so I did 🙂 ). If it drops good, add up etc. Dax, Dow, taking profits, adding up. Up to 3.20 then I was done. Most importantly I didn’t give up and knew what I was doing after 1.30.

  6. Out at 30.3…. Last weeks loss recovered and a healthy gain closed out in addition…..that’s me done for the day……no night shifts for me tonight….good luck all….

  9. Hi all,

    Short on Dow at 500 and sp500 at 50.

    Didn’t want to but hey it’s v v high so….

    Trying to stick to platinum- which has been equally poor today!

    1. Hi Buddy,Thx for your comments on Friday evening :0) I’m short :0) I think I’ve had a bang on the head or something :0) should be recovered by tomorrow hopefully ….

      1. What’s up with me.? Nice bit of icing on tdays cake…..yes that’s right….fumble fingers anstel :0) or predictive txt maybe…..

  11. Evening chaps,

    Concerns are growing for me about this market, Russia are actively threatening the us with outright strikes and yet here we are closing at yet more record highs. The tension will overflow soon and there’ll be a lot of sorry traders. I’m long gold, yen and franc for the moment and that’s it

  12. Agreed…the stability of world relations are growing tense…ATH show no sign of weakening but they will, because they have too. You can’t make money if you never take it out. And when ‘they’ take it out by god it will fall.

    Any doom and gloom aside I’m long heavy on platinum. Almost ATLs and massively undervalued. Gold I think will rise but for me it has a way to drop first. It had its chance of resting 1300 and failed.
    I think 1190 to 1200 is a good long point – IMO.

    I am short heavy on sp500, looking for a cheeky 10pt drop in Asia session?.

    GL

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