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FTSE: Elliottwave Structure suggests more upside

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Dec 2, 2015.

  1. Sandra S.

    Sandra S. Forum Member

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    Short term reading of the Elliott Wave cycle suggests the rally from wave (4) low at 6079.8 is unfolding in a double three structure where wave W ended at 6366.8, wave X ended at 6221.04, and wave Y is in progress. Internal of wave Y is unfolding also in a double three where wave (w) ended at 6395.3, wave (x) ended at 6329.9, and pair has resumed higher. As far as wave X pivot at 6221.04 stays intact, the Index is expected to resume higher in wave (y) of Y towards 6506 - 6574.5.

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