Following on from my last idea I believe that Wave 2 was complete at the low of 1195 and wave 3 is now in progress. Minor wave (1) looks to be complete with another expanded flat correcting to the fib .236 level at 1239.38 so far WITH a further possible correction to the .382 level OR a thrust upwards to continue wave 3. Good Luck
Following on from my last post the ending diagonal is now complete in my opinion with a clear set of a,b,c waves terminating today at 7444 and on diverging indicators such as momentum,rsi,Macd. Good trading.
I don't normally post on the gold chart but as I am personally long here are my thoughts. Gold looks to have retraced 38.2% of wave 1 and started wave 2 after a long expanded flat correction. Good Luck.
With the Brexit article 50 action imminent I suspect that the FTSE top has already been reached and a deeper correction is near. The Fib ratios on the final wave 5 meet common ratios and the trend lines also stack up. Good Luck trading.
FTSE - Here is my latest EW chart with a wave 4 triangle currently in progress to be followed by a final push to around 7355 hitting the long term 2006 trendline again for a Double Top maybe?
FTSE has been very choppy recently but I think an expanding triangle is nearing completion at around 7180. Small short taken to target level at 7095. Good Luck.
FTSE has hit multi year trendline going back to the PP starting 2006 which has multiple touch points. Note the negative divergence on MACD & Momentum and the huge RSI overbought position! Please apply due diligence if trading.
I have seen a number of FTSE long term charts, here are my own thoughts: 2000-2009 completed a 9 year FLAT, supercycle waves (III) & (IV), supercycle wave (V) has completed an ENDING DIAGONAL in Mid 2015 and is now in the B wave of a final FLAT which should complete in the 7300-7400 area with a following C wave taking FTSE back to 5600 area. The green trend line...
FTSE is topping out with long term RSI overbought and momentum divergence. Expect decline starting Q1 2017.