FTSE - Idea Update:

TVC:UKX   UK 100 Index
My idea from 21st Aug is following my predicted path with FTSE now in the middle of a 3rd wave decline.
My target for intermediate wave (3) black is at least 7147 but probably lower if the US indices turn.
Good Luck to all my followers.
Morning Geoff, Am I correct in saying that by this count we are mid way through wave 3 of a five wave structure down to make up wave A of the Bear Market and the complete downward structure will ultimately be the following? :

5 waves down for Wave A
3 waves up for Wave B
5 waves down for Wave C to end the Bear Market

I hope my understanding is correct lol

Thanks, Paul
Chiefstorm Chiefstorm
Sorry I have my degree of trend wrong above it should be:

5 waves down for Wave a
3 waves up for Wave b
5 waves down for Wave c to complete the larger degree WAVE A of the Bear Market with of course the large WAVE B and C still to come to complete the Bear Market.

Am I correct?

Thanks Paul
Geofftv1 Chiefstorm
@Chiefstorm, Hi Paul < I think it is too early to tell what structure the correction will take yet as we have not had a
supercycle FTSE correction before to compare against!

In theory the correction could be a zig-zag, flat or triangle but my own gut feeling is a very deep zig-zag lasting years.

Chiefstorm Geofftv1
@Geofftv1, Thanks for your reply Geoff; I was simply looking back at the Bear Markets since 1999 and these were relatively short affairs.
If this is indeed to be a Supercycle correction it could well be of massive proportions and it makes me wonder just how far the market could fall.
We will have to watch closely as the structure unfolds.
As per usual Geoff ive sold to early mate
Nice call Geoff
Geofftv1 Ta-Trade
@Ta-Trade, Thanks, hope you are riding this wave?
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