Jordan analyzes the FTSE 100 on multiple timeframes, identifying a potential Elliott wave 5 breakout on the 5-15 minute charts. He outlines entry points, stop-loss placement, and target zones around the 7,000 psychological level, plus a second trade setup on the pullback.
What's up everyone, this is Jordan and today we're going to talk about, uh, FTSE, the UK 100 index. I do believe we're about to see a push up. Today's opportunity is going to be basically an opportunity of kind of short-term scale, okay. So our higher time frame at that point is going to be the 4-hour chart. And on the 4-hour chart, we can see we have a level. This level, um, that being the bottom and that being somewhere in the middle of it, was tested, was rejected. Now the price is pushing upwards with a fantastic momentum. On the 1-hour chart, I do see a reversal pattern Or maybe we should say the 15-30 minute chart because this is where we're heading now. Um, the reversal pattern I'm referring to is right here, and right now, as we can see, this breakout is holding. The price came, tested, and it's holding. So if I drop to even 5-minute or 15-minute chart, I'm able to see here a potential impulsive structure, and this is exactly where I would like to be Getting involved now. First of all, we have for this specific time frame we're dropping lower. Now we can start looking at these intraday levels. We have the seven K right over here. This and this is a natural support resistance level, a psychological level. But in general, this is the structure I'm looking for. So one way to trade this opportunity is find a way to. Trade leg number 5, or what we expect to be developed as leg number 5 here, which for me it would be kind of simple, right? I will be looking for something like that as long as this high is holding, whether we're going to, uh, see here some sort of a range or maybe ABC pushing deeper to the downside, then looking for this 5th wave if it goes and breaks immediately from that point on. And it simply jumps up, then I will be waiting for this entire structure to be completed, right, the 15-minute chart structure. And then I will be looking for the buys. Can we do both? Yeah, of course. I mean, why not? If everything that we have in terms of setup, scenario, idea, right, expectation from the market, from the market, if that happens and is being delivered, why not trade both of them? So let's say you get something like this. You trade the fifth wave, you get out. Then the market starts giving you the pullback. The structures look good, and then you're looking for the next buy opportunity. Definitely, definitely doable. This is the best case scenario, right? So let's see where it takes us. Again, this is an intraday opportunity. You can follow up one hour chart, fifteen minute chart levels on the way up and down. And once the price reaches these very important levels, it might be a good idea for you to go ahead and manage if you're around, or simply, um, work out the setup and the entry that you're going to enter in a way that these levels fit with your targets, right? The risk-reward ratio and everything fits. Because let's say you're entering, I don't know where, let's say here. And you have for some reason larger stop loss, then if this is your first target— let's do it this way, right? If this is your first target and it's coming slightly above this zone, it's not very good, right? You don't want to be, um, collecting targets above these resistances or below the supports. You want to do it before that. So we want to be doing it somewhere in here, maybe at best in the middle of it, up to the middle of it, right? But not above, because then you're risking to see this, which is not good. Anyhow, uh, if you have any questions, let us know, guys, and we'll get back to you as soon as possible. Have a good one. Bye.
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