It looks like FTSE has completed wave C of the expanded flat correction ar tge 61.8%fib retrace and on diverging momentum. If correct intermediate wave 3 shoukd start soon and pull FTSE way belw 7000. Good Luck.
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FTSE is still rising? BUT the old saying sell in May and go away may be good advice! I think that wave 5 is extending and at 7596 will reach the 78.6% fib retrace from the top and also equal waves sum of waves 1-3. Extended 5th waves usually retrace back very sharply. Good Luck
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Ftse has met my target area, watch out for steep decline next.
Hi Geoff - thanks for sharing. EW question - would it still be a flat if FTSE kept rising to 7800?
Geofftv1
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@VishalShah9, Hi Vishal, the flat idea looks unlikely now with the latest rise and any rise above the previous top would void this completely. My chart of 9th dec shiws ftse in an ending disgonal and tgere are a couple of possibilities at present.
1 . The flat already discussed.
2. An impulse wave representing wave C of wave 5 in the ending diagonal.
3. A zig zag representing wave 2 of the first impluse down.
It is very difficult to tell whuch one is correct now but I beleve that if the fibal top is not already in it is very near. What does Thierry think?
VishalShah9
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@Geofftv1, Still inside Wave C of 2, Both iii and v showing extensions... Topped out at high on Friday. But these extensions have been crazy and totally not expected with GBP rolling over!
VishalShah9
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@VishalShah9, Send me your whatsapp or other contact details... would be easy to talk other stuff I know.
Geofftv1
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@VishalShah9, Hi Vishal, my email is geoff.wild@hotmail.com, look forward to hearing from you.
Geofftv1
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@VishalShah9, Vishal, given the various possibilities I think it will be safer to waut fir a ckear break and close below the trendline on the chart below.
VishalShah9
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Near your target and S&P rallying to complete the pattern too. Need GBP rally else the div next week at 23 ish points could put spanner in the works Geoff!
VishalShah9
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Thank you for sharing... but FTSE stubbornness is really annoying!
VishalShah9
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Nice one Geoff... hopefully FTSE responds to your analysis. This is in sync with Thierry’s but who would have expected 7500+ eh?
Geofftv1
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@VishalShah9, thanjs Vishal, i must admit 7500 plus had me concerned!