FTSE 100 (UK) Elliott Wave Analysis - Trading Lounge Day Chart
FTSE 100 (UK) Elliott Wave Technical Analysis
Function: Bullish Trend
Mode: Impulsive
Structure: Gray Wave 3
Position: Orange Wave 5
Direction: North
Next Higher Degrees: Gray Wave 3 (started)
Details: Gray Wave 2 appears completed. Gray Wave 3 is now active.
Wave Cancelation Level: 7,920.18
The FTSE 100 Elliott Wave Analysis for the daily chart highlights a bullish trend with strong market movement to the upside. The current mode is impulsive, indicating that the market is moving with momentum in line with the dominant bullish trend. Presently, the wave structure in focus is Gray Wave 3, advancing within the broader bullish sequence.
The market is currently situated in Orange Wave 5, which is part of the larger Gray Wave 3 structure. The analysis points to the completion of Gray Wave 2, marking the end of its corrective phase. Gray Wave 3 has now taken over, driving continued upward momentum. In Elliott Wave Theory, Wave 3 is often the most powerful and extended phase within an impulsive trend, suggesting further potential gains in the market.
The next key development is expected in Gray Wave 3, which supports the expectation of sustained bullish momentum. With the market in Orange Wave 5, the analysis suggests that this is an advanced stage of the bullish push.
The critical invalidation level to monitor is 7,920.18. A drop below this point would invalidate the current Elliott Wave analysis, requiring a reassessment of both the wave structure and the overall market trend. This invalidation level is crucial for confirming the ongoing bullish movement.
Summary:
The FTSE 100 Elliott Wave Analysis for the daily chart reflects a bullish trend with Gray Wave 3 and Orange Wave 5 in progress. The market is expected to continue rising, supported by the strength of Wave 3. Traders should keep a close watch on the invalidation level of 7,920.18 to confirm the ongoing bullish trend.
FTSE 100 (UK) Elliott Wave Analysis - Trading Lounge Weekly Chart
FTSE 100 (UK) Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Orange Wave 5
Position: Navy Blue Wave 3
Next Lower Degrees: Navy Blue Wave 4
Details: Orange Wave 4 appears completed. Orange Wave 5 is now in progress.
Wave Cancelation Level: 7,920.18
The FTSE 100 Elliott Wave Analysis for the weekly chart also shows an impulsive trend, pointing to a strong upward movement. The current focus is on the Orange Wave 5, which is progressing within a larger bullish trend. The market is currently positioned in Navy Blue Wave 3, a key phase of this impulsive trend.
Orange Wave 4 is now considered complete, marking the end of its corrective phase. Orange Wave 5 is actively progressing, indicating the continuation of the upward trend. In Elliott Wave Theory, Wave 5 typically signifies the final phase of an impulsive structure, meaning the market may be approaching the end of this bullish cycle. However, this stage can still see significant upward momentum.
Following the completion of Navy Blue Wave 3, the next expected movement is Navy Blue Wave 4, which would introduce a corrective phase before any potential further gains. Until the completion of Wave 5, the market is likely to continue its rise.
The key invalidation level to watch in this analysis is 7,920.18. If the market falls below this level, the current Elliott Wave structure would be invalidated, necessitating a reassessment. This invalidation point is essential for confirming the continuation of the upward trend.
Summary:
The FTSE 100 Elliott Wave Analysis for the weekly chart shows Orange Wave 5 unfolding after the completion of Orange Wave 4. The market is positioned in Navy Blue Wave 3, with further upward movement anticipated. The 7,920.18 invalidation level should be closely monitored to confirm the ongoing bullish trend.
Technical Analyst: Malik Awais
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