Ftsemib_analysis
FTSE Elliott Wave Analysis Higher Timeframe (22/07/2023)The pullback in the higher timeframe is ongoing. We had 5 waves up as an impulse in the weekly and daily. Investors should wait for the completion of the pullback to buy. Traders should analyze the lower timeframe. There might be a good short opportunity next week.
FTSE Elliott Wave Analysis Higher Timeframe (15/07/2023)The pullback in the higher timeframe is ongoing. We had 5 waves up as an impulse in the weekly and daily. Investors should wait for the completion of the pullback to buy. Traders should analyze the lower timeframe. There might be a good short opportunity next week.
FTSE just broke below two Bearish Patterns -Target 6,981Inverse Rev Cup and Handle has formed on the daily.
And a Symmetrical Triangle too.
Now the Symm Triangle is normally a continuation pattern. But because of the state of the markets world wide, they are bringing down the main indices like FTSE 100.
These are bearish signals along with these indicators.
21>7
Price<200 (Red zone)
RSI<50 (Red zone) and lower highs.
Target 6,981
FTSE Elliott Wave Analysis Higher Timeframe (01/07/2023)A pullback in the higher timeframe seems likely. We have 5 waves up as an impulse in the weekly and daily. However, as divergence in the weekly is not really outspoken, a new high is still possible. Investors should wait for the pullback to buy. Traders should analyze the lower timeframe.