We have been talking for a long time about bullish UK stock market index FTSE100 a.k.a. Footsie. We also shared the chart with our members more than a year ago, where we were tracking wave 4 correction within an ongoing five-wave bullish impulse.
After a longer sideways consolidation, it turned out to be a bullish triangle pattern in wave 4, but as you can see,...
This is a Thread, so Follow for Technical Analysis performed with TrapZone Pro & UMVD Indicators.
* Trend is Based on TrapZone Color
* Bar Colors give us Momentum Green from strong Up Moves. Red Bars point to strong Down Moves.
* Red UMVD = Selling Pressure & Green UMVD = Buying Pressure. Purple is for Divergence = Battle of Supply &...
The FTSE has lagged other major indices since the March lows but could now be set to play catch up.
Price still around the 50% retracement level and in a narrow 300 point range for the past month or so.
8/21 EMAs positive and a clean break above 6290 would pave the way for a breakout.
Possible targets the 61.8% fib at 6520 or the 78.6% at 7007.
I like long...
