From the begining of November our Elliott Wave analysis for FTSE suggested rally from 6452.48- 6424.00 zone toward 6693.47 area.
Now, after two weeks of trading, FTSE has reached our target. Index gave us the rally that we forecasted and presented in Elliott Wave Setup Video from the 3th November.
You can watch the video here :
Now, let’s take a look at H1 Elliott Wave charts, to see how we were guiding our members as it all unfolded.
FTSE November 04/2014 (NY Update) Another extension lower is expected toward 50-61.8 Fibonacci area to complete ((x)) pull back ater which we expect the rally to resume. No change in plan.
FTSE November 05/2014 (Asia Update) The price is entering 50-61.8 Fibonacci area ( potential buying zone). We continue to favour the long side and like buying dips between 6452 – 6424 area as against 6334 pivot.
FTSE November 05/2014 (London Update) Index is bouncing from highlighted area as expected. Need more data to see if next leg higher has started…
FTSE November 05/2014 (Mid- day NY Update) Pull back ((x)) is in place at 6445.86 and the price is pushing higher in wave (w) of ((y)).
FTSE November 06/2014 (Mid- day NY Update) Currently the price is doing (x) short term pull back- correcting the (w) cycle from the 6445.86 low.
FTSE November 07/2014 (London Update) Short term pull back (x) is in place at 6525.14 and price is giving us more strength in (y) of ((y)).
FTSE November 11/2014 (Mid- day NY Update) We got another short term pull back in red x and continuation higher …
FTSE November 12/2014 (London Update) cycle from the 6445.86 has been changed in triple three structure. We’re about to complete second (x) connector before another leg higher take us toward equal legs zone.
FTSE November 18/2014 (Mid- day NY Update) Index has reached our target of 100% extension of W-X at 6693. Minimum requirements have been met, test of 1.236 ext (6779) still can’t be ruled out.
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