The FTSE 100 (UKX) could be in the final wave of a gigantic Elliott Wave -Ending Diagonal Triangle (EDT) that began in 2009. If so, this could be the largest EDT ever recorded. UKX has just bounced off the rising weekly trend line while the weekly RSI and Stochastic have reached oversold levels that correspond with the low made at the last correction. If this count is correct the UKX could reach 8000 in just a few weeks, which could be the termination point of the EDT. A break below the rising trend line could be very bearish and would imply the EDT is incorrect.
I published an ending diagonal idea for FTSE back in late 2017 and have been momitiring it since. The main difference to your idea is that I believe tge 7900 top in May marks the end of the diagonal and the fall since is the start of a bear market in FTSE. Will be interesting to see what transpires.