XMCX trade ideas
FTSE 250 - bullish 5th wave?Here's a chart that I like (possible kiss of death) for it's apparent adherence to EW theory and bullish outlook, with a nice clear wave count, decent fib measurements and alternation too. With my central bank, the Bank of England, declaring an economic downturn on a scale not seen for 300 years are they are offering a massive contrarian buy signal? I'm with the bullish red count here. I have included a bearish blue count too even though I am really struggling to count 5 waves for it's 5th wave which makes it the weaker option to me......
#FTSE250 comparison with Feb 18 suggests rebound and new lowFTSE 250 compared to Feb 18
Suggests a low of about 1680, recovery to 2040 then a new low in April of 1600. 20% drop is already in.
Extreme bear case where two arrows are equivalent is grey line, implies 800 !
