To add to my previous posts on ftse, this chart uses trend lines anchored by a ppp to enhance the idea that ftse is now in decline after reaching the top. I expect ftse to decline to around 7000 soon. Good luck.
Comments
wolfah
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An alternative counting could be: "intermediate"-wave (4) is a (2). "Minor"-wave 1 and 2 are ok and "3" and "4" is a "Minute"-wave "1" and "2" with "3" and "4" as the little spike near 2017-01-13.
"5" could lead to a "Minute" -wave 3. If your counting is correct, the result should be an "Extension5" with target 9371 or an "Impuls" with target 8205. I see UKX in a "Minute" wave b of a "Minor"-wave 4. This would meet perfectly with your target at 0.236 (7000). Good luck!
Geofftv1
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@wolfah, thanks Wolf ah, it is helpful to get a different view on ones idea and I agree that your alternative has merit. If your idea is correct this would mean that ftse has further to rise after Minor wave 4 completes to perhaps exceed the previous high of 7446.
wolfah
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@wolfah, Sorry, the correct reading should be: "5" could then lead to a "Minor"-wave 3.
wolfah
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@wolfah, Yes, UKX should exceed 7446 in a "Minor"-wave 5. Wolf
"5" could lead to a "Minute" -wave 3. If your counting is correct, the result should be an "Extension5" with target 9371 or an "Impuls" with target 8205. I see UKX in a "Minute" wave b of a "Minor"-wave 4. This would meet perfectly with your target at 0.236 (7000). Good luck!