A long position has been initiated on UK100 (FTSE 100) from the 78.6% Fibonacci retracement zone, aligned with the higher timeframe (1D) bullish structure.
On the 4-hour timeframe, price shows signs of stabilization and potential reversal after completing a deep pullback. The entry is based on the confluence of:
Strong Fibonacci support (78.6%)
Holding above the key structural low
Early signs of bullish reaction / demand
Trade Idea:
Entry: From 78.6% retracement zone
Bias: Bullish continuation
Target: Previous swing high (0% Fibonacci level)
Invalidation: Break below recent structure low
While momentum remains slightly weak, this setup offers a favorable risk-to-reward opportunity, provided price confirms continuation with bullish structure on lower timeframes.
Conclusion:
This is a counter-momentum but structure-based buy, aiming to capture a continuation of the broader uptrend from a high-probability retracement zone.
On the 4-hour timeframe, price shows signs of stabilization and potential reversal after completing a deep pullback. The entry is based on the confluence of:
Strong Fibonacci support (78.6%)
Holding above the key structural low
Early signs of bullish reaction / demand
Trade Idea:
Entry: From 78.6% retracement zone
Bias: Bullish continuation
Target: Previous swing high (0% Fibonacci level)
Invalidation: Break below recent structure low
While momentum remains slightly weak, this setup offers a favorable risk-to-reward opportunity, provided price confirms continuation with bullish structure on lower timeframes.
Conclusion:
This is a counter-momentum but structure-based buy, aiming to capture a continuation of the broader uptrend from a high-probability retracement zone.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.