FTSE Index Archives - Page 3 of 4 - Elliott Wave Forecast

Elliott Wave View: FTSE Can See Another Leg Higher

January 23, 2019 By EWFHendra

Short term Elliott Wave view in FTSE suggests that the decline to 6534.59 ended wave ((A)). Wave ((B)) bounce is in progress as a zigzag Elliott Wave structure. Up from 6534.59, wave (A) ended at 7001.94. The internal of wave (A) unfolded as a 5 waves Impulse Elliott Wave structure. Wave 1 ended at 6752.54, wave 2 ended at 6599.48, wave 3 ended at 6938.31, wave 4 ended at 6860.82 and wave 5 of (A) ended at 7001.94.

Wave (B) is currently in progress to correct cycle from December 27, 2018 low as a Flat Elliott Wave structure. Down from 7001.94, wave A ended at 6841.74 and wave B ended at 6987.93. Wave C remains in progress as a 5 waves where wave ((i)) of C ended at 6880.69. Short term, while wave ((ii)) bounce stays below 6987.93, Index can see more downside to end the 5 waves down in wave C of (B). Potential target for wave (B) is 6646 – 6769, which is 50 – 76.4 Fibonacci retracement from December 27, 2018 low. Afterwards, as far as pivot at 6534.59 low stays intact in the pullback, Index can resume higher again.

FTSE 1 Hour Elliott Wave Chart

FTSE Chart of The Day Video

Elliott Wave View: FTSE should extend higher after 5 waves move

January 16, 2019 By EWFHendra

Short term Elliott Wave view on FTSE suggests that the decline to 6356.3 on Dec 27, 2018 ended wave (3). Index is now doing wave (4) correction higher. The internal of wave (4) is unfolding as a zigzag Elliott Wave structure where rally to 7001.94 ended wave A. Index then pullback to 6840.13, which we label as wave B. For better confirmation on this view, the Index needs to break above wave A at 7001.94 to suggest wave C has started.

Internal of wave A unfolded as 5 waves Elliott Wave impulse structure. Up from 6356.3, wave ((i)) ended at 6752.54, wave ((ii)) ended at 6599.48, wave ((iii)) ended at 6938.31, wave ((iv)) ended at 6860.82, and wave ((v)) of A ended at 7001.94. Wave B unfolded as a zigzag Elliott Wave structure. Wave ((a)) of B ended at 6902.65, wave ((b)) of B ended at 6927.42, and wave ((c)) of B ended at 6840.13.

Near term, while FTSE stays above 6840.13, the Index should extend higher in wave C as another 5 waves. If the Index breaks below 6840.13, then it’s doing a double correction in wave B. Potential target for wave B in a double correction scenario is approximately 6646 – 6768 (50 – 76.4 Fibonacci retracement from 6356.3) before the Index resumes higher.

FTSE 1 Hour Elliott Wave Chart

FTSE Chart of The Day Video

World Indices: Why FTSE Elliott wave sequence favors to keep buying

January 14, 2019 By EWFEric

The World Indices have seen the biggest decline since the lows at 2009. However, despite the size of the decline, it does not affect the overall trend. We at Elliott Wave Forecast always say that knowing the cycles and Market sequences are the key to become a successful trader. Many people believe the Market works in a straight line and of course that is not the case.

We track most of World Indices and over 100 instrument across the World. In addition to analyzing using Elliott Wave technique, we also correlate them to get the edge of the Market. The following chart shows FTSE ($UKX-FTSE) Elliott Wave Grand Super cycle since the all time low. We can see how we have not reached the 100% Blue Box at 10296.34 – 11913.27 which will be a moment when 2 Super cycle degree will reach equal length in price. The first super cycle degree goes from all-time low to 1999, whereas the other one started at 2009.

This suggests that until these two cycles reach 100%, we should keep buying the World Indices. We look at other instrument within the Indices group to discover the next entry levels and the best timing. The $UKX-FTSE chart is showing the Monthly path and it shows an incomplete sequence price wise in red. In addition, it also shows 5 swing incomplete sequence in black from 2009 low which is also a bullish event. The combination of both bullish sequences from two degrees suggest that the Index will likely remain above the 2009 low.

This also means that the Index will continue higher when swing 6 black or swing 2 Blue ends. As we are saying to members, this decline in World Indices is another chance to buy stocks and Indices at very good levels. As always, the social media’s bias of a big market crash will again become another trap. Nothing big will happen at minimum
until year 2020-2022 and it can even pass those times. Until then, keep buying the dips in World Indices in 3-7-11, The ruling trend is still higher.

FTSE Elliott Wave Sequence Monthly Chart

FTSE Elliott Wave Sequence Video

FTSE Elliott Wave Analysis: Started 7th Swing Lower

September 5, 2018 By Hassan Sheikh

FTSE short-term Elliott Wave view suggests that the rally to 7790.17 high ended intermediate wave (X) bounce. Down from there, intermediate wave (Y) remains in progress with instrument showing a lower low sequence. The internals of that leg lower is taking place as double correction lower due to overlapping price action happening from 7790.17 high thus suggesting that the decline is unfolding in 3 waves corrective sequence.

Down from 7790.17 high, the initial move to 7477.05 low ended Minor wave W of (Y). The internals of that lesser degree decline unfolded as a Zigzag structure where Minute wave ((a)) ended in 5 waves at 7614.48 low. Then the bounce to 7665.24 high ended Minute wave ((b)) bounce. And decline to 7477.05 low ended Minute wave ((c)) of W in another 5 waves structure. Up from there, the bounce higher to 7639.13 high ended Minor wave X of (Y). The internals of that bounce unfolded as double three structure where Minute wave ((w)) ended at 7616.15 high. Minute wave ((x)) ended at 7531.24 low and Minute wave ((y)) of X ended at 7639.13 high. Down from there, the index has made a new low confirming that Minor wave Y of (Y) has started and looking for extension lower towards 7323.99-7250.04, which is 100%-123.6% Fibonacci extension area of W-X. Near-term, while bounces stay below 7639.13 high expect index to extend lower. We don’t like selling it.

FTSE 1 Hour Elliott Wave Chart

FTSE Elliott Wave View: Calling For Another Leg Lower

June 19, 2018 By Hassan Sheikh

FTSE short-term Elliott Wave view suggests that the bounce to 7904.97 high on 5/22/2018 peak ended primary wave ((1)). Below from there, the index is doing a pullback in Primary wave ((2)) in 3, 7 or 11 swings to correct cycle from 3/23/2018 low. Down from 7904.97 high, the decline to 7610.66 low ended the first leg of the pullback in Intermediate wave (W). The internals of Intermediate wave (W) unfolded as Elliott wave Zigzag structure where Minor wave A ended at 7703.26, Minor wave B ended at 7738.46, and Minor wave C of (W) ended at 7610.66. Up from there, the bounce to 7793.45 high ended the correction against 5/22/2018 cycle in Intermediate wave (X). The internals of Intermediate wave (X) unfolded as double three structure where Minor wave W ended at 7772.12, Minor wave X ended at 7637.52 and Minor wave Y of (X) ended at 7793.45.

Then down from there, the index has made a new low below Intermediate wave (W) at 7610.66 low confirming the next leg lower within intermediate wave (Y) of ((2)) has started. Near-term, while below 7793.45 high, the rally is expected to fail in 3, 7 or 11 swings for another leg lower towards 7435.72 – 7504.01, which is 100%-123.6% Fibonacci extension area of Intermediate wave (W)-(X) to complete Primary wave ((2)). Afterwards, the index is expected to find buyer’s either for a new high or for 3 wave bounce at least. We don’t like selling it in the proposed pullback.

FTSE Elliott Wave 1 Hour Chart

FTSE Elliott Wave View: Buying Opportunity Soon

June 6, 2018 By Hassan Sheikh

FTSE short-term Elliott wave view suggests that the rally to 7903.50 high on 5/22/2018 peak ended primary wave ((1)). This rally to 7903.5 starts from 3/23/2018 low and took the form of an impulse Elliott wave structure. The index is currently in Primary wave ((2) pullback to correct cycle from 3/23/2018 low.

So far the decline from the peak shows an overlapping internal structure, suggesting the index is pulling back in corrective sequence i.e either as W,X,Y or W,X,Y,X,Z structure. Down from 7903.5 high, the decline to 7610.66 low ended the first leg of the pullback in Intermediate wave (W). The internals of Intermediate wave (W) unfolded as Elliott wave Zigzag structure where Minor wave A ended at 7703.26, Minor wave B ended at 7738.46, and Minor wave C of (W) ended at 7610.66.

Above from 7610.66, the bounce to 7772.12 high ended Intermediate wave (X). The internals of Intermediate wave (X) unfolded as Elliott wave double three structure where Minor wave W ended at 7727.45, Minor wave X ended at 7651.412, and Minor wave Y of (X) ended at 7772.12. Near-term, while below 7772.12 Intermediate wave (X) high, expect the Index to extend lower in Intermediate wave (Y). Intermediate wave (Y) should see more downside towards 7477.94-7408.77, which is 100%-123.6% Fibonacci extension area of Intermediate wave (W)-(X). This move lower should also end Primary wave ((2)) pullback & Index should resume higher again. We don’t like selling the index.