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FTSE In Process Of 5 Waves Advance With Pullback Expectation

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Short Term Elliott Wave View in FTSE index shows that the Index breaks to new all-time highs confirming the right side of the market remains bullish. The rally from 12.20.2024 low looks to be extending higher in an impulsive structure within wave 1. While pullback to 8002.28 low ended wave (4) as a triangle consolidation & made new highs supports more strength to continue. Up from wave (4), wave (i) ended at 8152.01 high and wave (ii) pullback ended at 8094.88 low.

The Index resumed higher in wave (iii) which ended at 8270.60 high. Pullback in wave (iv) ended at 8189.50 low. The final leg wave (v) ended at 8326.32 low which also completed wave ((i)) in higher degree. Index then pullback in wave ((ii)) which ended at 8192.31 low. Index has resumed higher again in wave ((iii)). Up from wave ((ii)) low, lesser degree wave (i) ended at 8244.31 high. Pullback in wave (ii) ended at 8193.54 low. Wave (iii) higher ended at 8584.73 high and pullback in wave (iv) ended at 8527.92 low. Then final push higher towards 8586.68 high ended wave (v) thus completed wave ((iii)). Down from there, wave ((iv)) pullback ended at 8462.18 low. Near-term, as far as dips remain above 8462.18 low the index is in process of 3 waves advance with 1 more push higher. Minimum towards 8616.11- 8663.95 area higher to end wave ((v)) of 1. Afterwards, a pullback in wave 2 is expected to take place in 3, 7 or 11 swings before more upside resumes.

FTSE 1-Hour Elliott Wave Chart From 1.29.2025

FTSE In Process Of 5 Waves Advance With Pullback Expectation

FTSE Elliott Wave Video

 

FTSE Elliott Wave View: Pullback Should Continue to Find Buyers

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Short term Elliott wave view in FTSE Index suggests that the rally from February 27 is unfolding as a 5 waves impulse Elliott Wave structure. Up from February 27 low, wave ((i)) ended at 6812.78 and pullback in wave ((ii)) ended at 6619.89. Index has resumed higher in wave ((iii)) with subdivision as another impulse in lesser degree. Up from wave ((ii)) low, wave (i) ended at 6792.23 and dips in wave (ii) ended at 6713.63. Index resumed higher in wave (iii) towards 6949.56 and pullback in wave (iv) ended at 6853.75.

Expect wave (v) to end soon which should complete wave ((iii)) in higher degree. Afterwards, Index should pullback in wave ((iv)) to correct the cycle from March 25 low before the rally resumes higher in wave ((v)). As far as March 25 pivot low at 6619.89 stays intact, expect dips to find support in 3, 7, or 11 swing for further upside. The pullback in wave ((iv)) in 3, 7, or 11 swing should ideally end at 23.6% – 38.2% Fibonacci retracement of wave ((iii)). This area can be measured once wave ((iii)) has ended and pullback has started.

FTSE 1 Hour Elliott Wave Chart

FTSE Elliott wave chartFTSE Elliott Wave Video

FTSE Forecasting The Rally From The Blue Box

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In this technical blog we’re going to take a quick look at the Elliott Wave charts of  FTSE index  published in members area of the Elliottwave-Forecast .  As our members know FTSE reached our target zone in the June cycle at 639.9-5231.02 area  and found buyers.  FTSE  is another instrument that has given us nice rally from the Blue Box area recently.  The index ended cycle from the June 8th peak as  Double Three pattern. Which is also know as 7 swings.  In further text we’re going to explain the forecast and Elliott Wave Pattern.

Before we take a look at the real market example, let’s explain Elliott Wave Double Three pattern.

Elliott Wave Double Three Pattern

Double three is the common pattern in the market these days, also known as 7 swing structure. It’s a reliable pattern which is giving us good trading entries with clearly defined invalidation levels and target areas.
The picture below presents what Elliott Wave Double Three pattern looks like. It has (W),(X),(Y) labeling and 3,3,3 inner structure, which means all of these 3 legs are corrective sequences. Each (W) and (Y) are made of 3 swings , they’re having A,B,C structure in lower degree, or alternatively they could have W,X,Y labeling.

Double Three

FTSE 4 Hour Elliott Wave Analysis 11.02.2020

At the chart below we can see clear 7 swings in the cycle from the 6502.6 high.  Double three pattern has inner labeling: (W)(X)(Y) blue. Each leg of the pull back has corrective structure, when (W) leg has ABC inner labeling, while (Y) leg is double three WXY red.  At this moment we can count clear 7 swings down from the June 8th peak .  Pull back has already reached equal legs zone at 639.9-5231.02 area .  Consequently, turn higher can happen any moment. We don’t recommend selling anymore and expect rally from the blue box to happen soon. Proposed leg down may or may not happen.
As our members know Blue Boxes are no enemy areas , giving us 85% chance to get a bounce.You can learn more about Elliott Wave Double Three Patterns at our Free Elliott Wave Educational Web Page.

FTSE

FTSE 4 Hour Elliott Wave Analysis 11.10.2020

FTSE keep finding buyers and ended cycle from the June peak right at the blue box : 639.9-5231.02 are.   Pull back  ended at 5524.47 as Double Three and we got nice rally. Short term cycle from the 5524.47  low is having impulsive sequences. Consequently we expect further rally once (2) blue pull back completes.

Keep in mind that market is dynamic and presented view could have changed in the mean time.  You can check most recent charts in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room.

FTSE

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We cover 78 instruments in total, but not every chart is trading recommendation. We present Official Trading Recommendations in Live Trading Room.  If not a member yet,  Sign Up for Free 14 days Trial now and get access to new trading opportunities. Through time we have developed a very respectable trading strategy which defines Entry, Stop Loss and Take Profit levels with high accuracy.

Welcome to Elliott Wave Forecast !

 

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FTSE Selling The Rallies At The Blue Box Area

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Hello fellow traders. In this technical blog we’re going to take a quick look at the charts of FTSE published in members area of the website. As our members know, FTSE is giving us pull back, correcting the cycle from the March low. The price structure from the June 8th peak is incomplete at the moment. It shows lower low sequences which makes it bearish against the 6298.8 peak. We advised clients to avoid buying the Index at this moment,while favoring short side from the Blue Box. In the charts below, we’re going to explain the Elliott Wave structure and trading setup.

FTSE Elliott Wave 1  Hour  Chart 9.14.2020

Current view suggests The Index is correcting the cycle from the 6298.8 peak. Recovery is having form of Elliott Wave Zig Zag Pattern that should ideally complete at 6075.33-6203.45 . Correction is incomplete at the moment, we expect another marginal push up to complete 5 waves in (c) leg.  However we should be aware that sellers zone is already reached at 6075.33 and turn can happen any moment .  At the Blue Box area we expect sellers to appear for decline toward new lows or 3 waves pull back at least.  Invalidation of the sell trade would be break above 1.618 fib extension: 6203.45.  Once the price reaches 50 fibs against the (b) blue low, we should make short positions risk free.As our members know Blue Boxes are no enemy areas , giving us 85% chance to get a bounce.

You can learn more about Elliott Wave Zig Zag Patterns at our Free Elliott Wave Educational Web Page.

FTSE

FTSE Elliott Wave 1  Hour  Chart 9.14.2020

Eventually FTSE gave us another leg up within blue box as expected and complete 5 waves in (c) blue leg. It found sellers right at the blue box area : 6075.33-6203.45 and gave us nice decline from there . At this stage we see wave ((b))) recovery completed at the 6125.8 peak. However it needs to make break of 09/04 low to confirm next leg down is in progress.  Members who sold the index are enjoying profits in risk free positions .

Keep in mind market is dynamic and presented view could have changed in the mean time. You can check most recent charts in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences.We put them in Sequence Report and best among them are shown in the Live Trading Room.

FTSE

Elliott Wave Forecast

We cover 78 instruments in total, but not every chart is trading recommendation. We present Official Trading Recommendations in Live Trading Room.  If not a member yet,  Sign Up for Free 14 days Trial now and get access to new trading opportunities. Through time we have developed a very respectable trading strategy which defines Entry, Stop Loss and Take Profit levels with high accuracy.

Welcome to Elliott Wave Forecast !

 

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Elliott Wave View: FTSE Rally Likely to Find Sellers

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Elliott Wave View of FTSE suggests the Index ended the cycle from August 12 high as wave ((a)) at 5778.40 low. The subdivision of the decline unfolded as 5 waves impulse Elliott Wave Structure. Down from wave X high, wave (i) ended at 6036.13 low. Wave (ii) bounce unfolded as a flat correction and ended at 6173.48 high. Index then resumed lower in wave (iii), which ended at 5824.04 low. Afterwards, the bounce in wave (iv) ended at 5996.24 high. Finally, the push lower in wave (v) ended at 5778.40. This also ended wave ((a)) in higher degree.

Currently, Index is doing a bounce in wave ((b)) to correct the cycle from August 12 high. The bounce is unfolding as zigzag correction. Wave (a) ended at 5985.26 high and wave (b) pullback ended at 5868.87 low. Wave (c) is currently is progress and can do another marginal high before ending wave ((b)) in higher degree. The bounce has reached blue box area, which is 100-161.8% extension of wave (a)-(b) at 6075-6203.  This area should see sellers appear for more downside or 3 waves pullback at least. While below 6298 high, bounce in 3,7 or 11 swings is expected to fail for more downside. The target to the downside for FTSE is the 100-161.8% extension area from June 8 high against August 12 high at 5483-5638.

FTSE 1 Hour Elliott Wave Chart

FTSE 9.15.20 Asia

FTSE Elliott Wave Video

Elliott Wave View: FTSE Resumes Correction

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FTSE 15 minutes chart below shows that the FTSE index has ended the cycle from June 25 low at 6303.40 high as a double three Elliott Wave Structure. Up from June 25 low, wave ((w)) ended at 6262.13 high. Wave ((x)) dip ended at 6087.70 low. The pair then extended higher in wave ((y)), which ended at 6303.40 high. This completed wave 2 in higher degree. The Index has since declined lower from that high.

Down from wave 2 high, the index ended wave ((i)) at 6152.88 low. The internal subdivision of wave ((i)) unfolded as 5 waves impulse Elliott Wave Structure.  The bounce in wave ((ii)) then ended at 6208.43 high.  Wave ((iii)) is currently in progress.  Down from wave ((ii)), wave (i) of ((iii)) ended at 6144.52 low and wave (ii) bounce ended at 6134.37 high.  Wave (iii) is currently in progress and could see another low before a bounce in wave (iv) can be seen.  While below 6303.40 high, expect the bounce in 3,7, or 11 swings to fail for more downside. The downside target for FTSE would be the equal leg area from June 8 high at 5647-5780.

FTSE 15 Minutes Elliott Wave Chart

FTSE 7.10.2020 Asia Update

FTSE Elliott Wave Video