FTSE Index Archives - Page 2 of 4 - Elliott Wave Forecast

Elliott Wave View: FTSE Bullish Sequence Favors Higher

November 29, 2019 By EWFHendra

FTSE shows a bullish Elliott Wave sequence from October 3, 2019 low favoring further upside. The rally from October 3 low is unfolding as a double three Elliott Wave structure. On the chart below, we can see wave ((w)) ended at 7431.94 and pullback in wave ((x)) ended at 7199.40. Internal structure of wave ((x)) unfolded as a zigzag where wave (a) ended at 7258.46, wave (b) ended at 7404.47, and wave (c) of ((x)) ended at 7197.33. The Index has resumed higher and broken above wave ((w)), suggesting then ext leg higher in wave ((y)) has started.

Weave ((y)) is in progress as a zigzag Elliott Wave structure. Up from 7199.40, wave i ended at 7242.16 and wave ii ended at 7203.23. Index resumes higher in wave iii towards 7421.3, wave iv ended at 7384.96, and wave v of (a) ended at 7446. Index is now in wave (b) pullback to correct the cycle from November 21 low before the rally resumes. We don’t like selling the proposed pullback. As far as pivot at 7199.4 remains intact, expect dips to find support in 3, 7, or 11 swing for further upside. Potential target higher is 100% Fibonacci extension from October 3 low towards 7609 – 7707 area.

FTSE 1 Hour Elliott Wave Chart

FTSE 1 Hour Elliott Wave Video

Elliott Wave View: Impulsive Rally in FTSE Favors Upside

July 30, 2019 By EWFHendra

Elliott Wave view suggests FTSE ended a double three correction in wave ((ii)) on July 25 low (7464.50). We can see from the chart below the internal of wave ((ii)) as a double three. Wave (w) ended at 7475.49, wave (x) ended at 7598.60, and wave (y) of ((ii)) ended at 7464.50. After ending wave ((ii)) pullback, the rally in FTSE from July 25 low (7464.50) is unfolding a 5 waves impulse structure. In addition, the Index also shows an Elliott Wave bullish sequence from June 3 low (7079.71) and December 27, 2018 low (6536.53). This suggests that further upside is favored as far as pivot at 7464.50 low stays intact.

Up from 7464.50 low, wave i ended at 7506.85, wave ii ended at 7486.74, and wave iii ended at 7711.34. Expect Index to pullback in wave iv then do another leg higher in wave v before ending wave (i) in higher degree. Alternatively, wave (i) could have already ended and Index can start wave (ii) pullback already. Wave (ii) pullback should unfold in 3, 7, or 11 swing. As far as pivot at 7464.50 low stays intact, expect Index to see more upside.

FTSE 1 Hour Elliott Wave Chart

FTSE 1 Hour Elliott Wave Video

Elliott Wave View: Short Term Support in FTSE

May 22, 2019 By EWFHendra

Short term Elliott Wave view in FTSE calls the move lower to 7150.9 on May 13 as wave A. This suggests that the move lower from April 23 is unfolding as a zigzag Elliott Wave structure. Wave B bounce is currently in progress to correct cycle from April 23 high before the Index turns lower. Internal of wave B is unfolding as another zigzag Elliott Wave structure in lesser degree.

Up from 7150.9, wave ((a)) ended at 7360.34 and wave ((b)) ended at 7267.84. Wave ((a)) unfolded as 5 waves where wave (i) ended at 7264.18 and wave (ii) ended at 7223.08. Index then resumes higher in wave (iii) which ended at 7353.51, wave (iv) ended at 7307.33. and wave (v) of ((a)) ended at 7360.34. While short term dips stay above 7267.84, expect Index to extend higher. Potential target for wave ((c)) of B comes at 100% – 123.6% extension of ((a)) which is 7480 – 7529. Index also should not break above May 13 at 7528.93 or else it will open further upside. If Index instead breaks below 7267.84, then either wave ((b)) is unfolding as an expanded Flat structure or wave ((c)) of B truncates and Index has turned lower.

FTSE 1 Hour Elliott Wave Chart

1 hour FTSE Elliott Wave Video

Elliott Wave View: Further Strength in FTSE

April 9, 2019 By EWFHendra

Elliott Wave view on FTSE calls the rally from February 28, 2019 low (7041) as an impulse Elliott Wave structure. An impulse is a 5 waves structure with wave 1, 3, and 5 all subdivide in 5 waves of lesser degree. Up from 7041 low, wave 1 ended at 7370.6 and wave 2 ended at 7146.29. Wave 3 remains in progress and subdivides as 5 waves of lesser degree. Up from 7146.29, wave ((i)) ended at 7222.64, wave ((ii)) pullback ended at 7160.14. Index resumes rally in wave ((iii)) at 7461.39, and wave ((iv)) ended at 7420.41. Short term, Index has scope to extend higher 1 more time in wave ((v)) before ending wave 3.

Afterwards, Index should pullback in wave 4 before the rally resumes in wave 5. Wave 4 should correct wave 3 rally from 7146.29 low and expected to complete at 23.6-38.2 Fibonacci retracement. Once wave 3 is complete, we can then project wave 4 potential area. We don’t like selling the Index and expect buyers to appear to buy dips in 3, 7, or 11 swing as far as pivot at 7146.29 low stays intact.

1 Hour FTSE Elliott Wave Chart Asia Update

1 Hour FTSE Elliott Wave Video

Elliott Wave View Suggest FTSE Close To Reaching Extreme

February 7, 2019 By Hassan Sheikh

FTSE short-term Elliott wave view suggests that a rally from 12/27/2018 low (6536.53) is unfolding as a zigzag structure where initial rally to 7001.94 high ended wave A in 5 waves structure. Down from there, wave B unfolded as a Flat correction where wave ((a)) ended at 6841.74 low. Wave ((b)) bounce ended at 6987.93 high in lesser degree flat correction. Wave ((c)) ended in lesser degree 5 waves at 6732.33 low, which also completed wave B pullback. After reaching the blue box area at 6785.66-6658.34 100%-161.8% Fibonacci extension area of ((a))-((b)).

Up from there, wave C remain in progress as impulse structure where wave ((i)) ended at 6994.88 high. Wave ((ii)) pullback ended at 6945.05 low and ((iii)) remain in progress looking for more upside towards 7191.16-7473.95 100%-161.8% Fibonacci extension area of wave A-B to reach the extreme from 12/27/2018 low. Afterwards, index is expected to resume the downside or should do a 3 wave pullback at least. Near-term cycle from 12/27/2018 low is mature already with a minimum number of swings in place but as far as a pivot from 6732.33 low expect index to extend higher.

FTSE 1 Hour Elliott Wave Chart

FTSE Chart Of The Day Video

FTSE Found Buyers In Blue Box And Rallied

February 1, 2019 By EWF Vlada

Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of FTSE. FTSE was correcting the cycle from the 6530.6 low,when the pull back was unfolding as Elliott Wave FLAT pattern. We expected FTSE to trade higher due to 5 waves rally in the cycle from the December 27th 2018 low. In addition, we have incomplete bullish sequences in European indices like DAX and IBEX, suggesting that FTSE will be supported as well. In the following article, we’re going to explain the Elliott wave structure and Forecast.

FTSE 1 Hour Elliott Wave Analysis 1.28.2019

As we can see on the chart below , the Index made 5 waves structure in the rally from the 6530.64 low. So we believe that can be only the first leg of the ABC Zig Zag recovery. Pull back against the 6530.64 low is unfolding as Elliott Wave Flat, when we can now be in the last leg wave (v) of ((c)) of B red Flat. FTSE should ideally find buyers at 6783.5-6656.18 before giving us another leg higher ideally to allow DAX and IBEX to reach their extremes in the cycles from the 12/27 2018 lows. Price has reached the blue box, but there is no sign yet that the pull back is done. FTSE still can extend lower in short term within blue box as shown on the chart. We don’t recommend selling the index at this stage and expect buyers to appear any moment.

FTSE 1 Hour Elliott Wave Analysis 1.28.2019

Buyers appeared right at the blue box when Elliott Wave Flat completed at 6734.84 low. Recently we got a new short term high with a break above 01/11 low, confirming next leg up C red is in progress. At this stage FTSE is bullish against the 6734.84 pivot, suggesting more upside toward 7197 area. Now as far as 6734.84 pivot holds, intraday pull backs should ideally find buyers in 3,7,11 swings for proposed rally or 3 wave bounce at least.

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