The sharp rise on Friday voided my previous shorter term idea, so back to the drawing board!
I still believe FTSE is in wave C of a FLAT correction of Intermediate wave (1) leading finally to wave (2)
This last wave C is a 5 wave structure which is now in the terminal wave 5. Looking at all the EW possibilities I
can only see an expanding diagonal in construction with wave 3 completed and wave 4 in progress.
Wave 5 must be greater than wave 3 BUT not exceed the previous high of 7600, if correct a fall to around 7490
should happen next followed by one final zig-zag up to wave 5 just under 7600, probably this coming week.
Good Luck.
I still believe FTSE is in wave C of a FLAT correction of Intermediate wave (1) leading finally to wave (2)
This last wave C is a 5 wave structure which is now in the terminal wave 5. Looking at all the EW possibilities I
can only see an expanding diagonal in construction with wave 3 completed and wave 4 in progress.
Wave 5 must be greater than wave 3 BUT not exceed the previous high of 7600, if correct a fall to around 7490
should happen next followed by one final zig-zag up to wave 5 just under 7600, probably this coming week.
Good Luck.
Comment:
FTSE following idea for a final expanding diagonal, I expect fall to around 7490 and then final up leg to just under 7600.
Comment:
FLAt idea violated, looks like impulse wave to complete intermediate (2)
Wave (3) started now.
Wave (3) started now.