To complete an indices day, my final Finlogix goes to the FTSE 100 index or UK100, representing 100 constituents in the London Stock Exchange.

My first ever analysis in the platform as well.

There are 7 British major economic data releases to keep an eye on this week highlighting CPI year-over-year.

Volatility will be elevated in the markets all throughout the week.

Assessing FTSE100’s high timeframe candles:

Monthly Candle: Green Body with a Longer Tail Wick

Weekly Candle: Previous Close is a Green Body with a Slightly Longer Tail Wick current is developing a Small Green Body

Daily Candle: Last Friday’s close is a Green Shaven Bottom current is developing a Small Green Body

Very strong yearly candle with a dragonfly doji suggesting a powerful buybacks during the January dips.

We can see higher lows since then from February to the current month of March.

It looks like the FTSE 100 index is ready to break above the 8000 resistance which has been a problem since May 2023.

Both the weekly and daily candles also strengthening towards a re-test from last week’s highs.

We can see a strong up wave based on the index’s current 4H price structure after holding the 7630 and good liquidity grabs under its lows.

We can also see a BoS (break of structure) with a holding FVG with an opening gap that supports the current consolidating structure. The recent lows last Thursday has made good liquidity grabs on the sell side leading to the current consolidation.

My plan is to wait and buy the 4H 50-SMA re-touch price.

I set the stop loss on 4H 200-SMA that might challenge the bullish FVG’s complete retracement.

A break on the multi-month 7800 resistance will pave way to the 8000 resistance but for now I focus first on targeting the former for take profit.

FTSE100 Intraday Analysis and Trading Plan For March 18, 2024

Mar 18 2024

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