Last weekend I suggested that the diagonal that had formed was more likely a leading than ending diagonal and events since then have clarified this.
Minor wave 3 Blue may have finished at the red support line with minor wave 4 also complete yesterday. If correct FTSE will fall to perhaps the second support line at 6618 where intermediate wave 5 would equal wave 3.
FTSE has certainly provided an early xmas present for those that have followed this first wave down since June.!
Sorry Geoff I think I’ve asked this question twice on two different posts mate
Regards
SJWTradingNI
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Hi Geof
Great calls from yourself....so what we have is a 5 wave down to circa 6600 handles in a larger 1 wave count? so and ABC reversal from 6600 (if no black swan crash)
Cheers
Jason
Geofftv1
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@TA-trade, Hi Jason, thanks for comment and i agree with your thoughts.
Chiefstorm
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Hi Geoff thanks for the update, xuks has been showing some nice signs of life lately.
It looks as if next major resistance comes in around 500p.
Paul
Regards