FTSE Elliott Wave View: Buying Opportunity Soon
Hello Traders,
In this short-term analysis, we will have a look at the FTSE100.
FTSE cycle from 3/28 low is proposed to be completed at 7904 high in black wave ((1)), below from there the index is correcting that cycle & expected to find buyers in 7-11 swings provided the pivot at 6867 low in our proprietary distribution system stays intact.
Short-term it has ended the cycle from 05/22/18 peak (7904.55) at 05/29/18 low (7609.8) in blue wave (W) and ended the correction to that cycle in blue wave (X) at 06/04/18 peak (7774.2). While pullbacks stay below blue wave (X) peak, it is expected to see more downside to the equal legs - 1.236 extension area of blue ( W ) - ( X ).
We don’t like selling it and prefer buying the dips at the extreme areas in 7-11 swings as far as pivot at 3/26 low (6865.8) stays intact.
In this short-term analysis, we will have a look at the FTSE100.
FTSE cycle from 3/28 low is proposed to be completed at 7904 high in black wave ((1)), below from there the index is correcting that cycle & expected to find buyers in 7-11 swings provided the pivot at 6867 low in our proprietary distribution system stays intact.
Short-term it has ended the cycle from 05/22/18 peak (7904.55) at 05/29/18 low (7609.8) in blue wave (W) and ended the correction to that cycle in blue wave (X) at 06/04/18 peak (7774.2). While pullbacks stay below blue wave (X) peak, it is expected to see more downside to the equal legs - 1.236 extension area of blue ( W ) - ( X ).
We don’t like selling it and prefer buying the dips at the extreme areas in 7-11 swings as far as pivot at 3/26 low (6865.8) stays intact.
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