Get started
Geofftv1

FTSE - Falling Wedge?

Short
UK 100 Index (TVC:UKX)  
Geofftv1 Updated   
TVC:UKX   UK 100 Index
Wave Analysis
5
0
waveanalysis
This chart is an alternative to my DZZ ide on 15th Sept and has FTSE in a falling wedge. Currently wave 4 is underway which when complete should lead to final wave 5 finishing at around 7160 sometime next week.
Good Luck
Comment:
FTSE in wave 4 of wedge, should make 7409ish before wave 5 starts.
Comment:
Comment:
The current strength in FTSE has violated the falling wedge idea. If FTSE goes past the end of wave 2 at the red line then it very much looks like the recent rise is in fact an impulse wave. If FSTE falls in a 5 wave decline before reaching the red line then the whole structure may be intact BUT forming an expanding leading diagonal?
Ideas , comments are welcome.
snapshot
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.