Trade Section Uncategorized Elliott Wave Analysis & Forecast, FTSE, M1, 27-Feb-2020

Elliott Wave Analysis & Forecast, FTSE, M1, 27-Feb-2020

If you look at my previous chart, I showed my expectations for the long-term count and as can be seen above it has and is expected to play out perfectly.  In my opinion Blue wave 1 peaked at 7908 in 2018 and wave 2 started which ended at 6500 area.

At the moment price is streaming to complete red wave iii of Blue wave 2. The ideal target of blue wave 2 will be near 5000 – 5100 area where 61% Fibonacci retracement completed. However we cannot rule out the elliot wave rule that wave 2 can retrace up to 100% of wave 1.

Once this blue wave 2 completed we will see big rally towards 10000 or ever much higher in coming years.

Muhiuddin

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