FTSE 100 (UK) Elliott Wave Analysis Trading Lounge Day Chart
FTSE 100 (UK) Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Orange wave 5
Position: Navy Blue Wave 3
Direction Next Lower Degrees: Navy blue wave 4
Details: Orange wave 4 appears completed. Orange wave 5 of navy blue wave 3 is now in play.
Wave Cancel Invalid Level: 7760.18
The FTSE 100 Elliott Wave Analysis for the day chart offers a detailed examination of the current market trend using Elliott Wave Theory. This analysis is focused on identifying and predicting the market trend's direction and stages. The function identified is trend, indicating a clear directional path rather than sideways movement or correction.
The trend mode is impulsive, meaning the market is experiencing a strong and sustained movement in one direction, indicating bullish or bearish momentum. The specific wave structure under analysis is orange wave 5, part of the larger wave sequence known as navy blue wave 3. This positioning suggests the market is in an advanced stage of an upward trend.
Currently, the market is within navy blue wave 3, with orange wave 4 completed. This completion marks the end of a corrective phase within the broader upward trend. The market is now in orange wave 5, part of navy blue wave 3, typically marking a continuation of the strong upward movement and suggesting further bullish momentum.
The direction for the next lower degrees points to navy blue wave 4, implying that once orange wave 5 completes, the market may enter a corrective phase corresponding to navy blue wave 4. This subsequent wave will likely result in a temporary pullback or consolidation before resuming the overall trend.
A critical detail in this analysis is the wave cancel invalid level at 7760.18. This level acts as a threshold; if breached, it would invalidate the current wave count, necessitating a reevaluation of the wave structure. Maintaining the market above this level is essential for the current Elliott Wave count to remain valid and for the anticipated trends to play out as expected.
In summary, the FTSE 100 Elliott Wave Analysis on the day chart shows a strong, impulsive trend within orange wave 5 of navy blue wave 3. With the completion of orange wave 4, the market is expected to continue its upward momentum. The wave cancel invalid level at 7760.18 is a crucial marker for maintaining this wave count's validity, guiding traders in their strategic decision-making based on Elliott Wave Theory principles.
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
Direction Next Lower Degrees: Navy blue wave 4
Details: Orange wave 4 appears completed. Orange wave 5 of navy blue wave 3 is now in play.
Wave Cancel Invalid Level: 7760.18
The FTSE 100 Elliott Wave Analysis for the weekly chart provides an in-depth look at the market's current trend using Elliott Wave Theory, which helps in identifying and predicting market movements. This analysis indicates the function of the market trend is to follow a clear directional path, with the mode being impulsive. An impulsive mode suggests a strong and sustained movement in one direction, indicating a robust market trend.
The specific wave structure under analysis is orange wave 5, part of a larger wave sequence identified as navy blue wave 3. This positioning indicates the market is in an advanced stage of an upward trend within the larger context of navy blue wave 3. The completion of orange wave 4 has been observed, signaling the end of a corrective phase within the ongoing upward trend. Consequently, the market is now in the phase of orange wave 5, part of navy blue wave 3. This phase typically continues the strong upward movement, suggesting further bullish momentum in the market.
The direction for the next lower degrees points towards navy blue wave 4, implying that once orange wave 5 completes, the market may enter a corrective phase corresponding to navy blue wave 4. This anticipated corrective phase might lead to a temporary pullback or consolidation before the market resumes its overall upward trend.
A critical detail in this analysis is the wave cancel invalid level at 7760.18. This level serves as a threshold; if breached, it would invalidate the current wave count, requiring a reevaluation of the wave structure. It is crucial for the market to stay above this level to maintain the validity of the current Elliott Wave count and for the expected trends to unfold as predicted.
In summary, the FTSE 100 Elliott Wave Analysis on the weekly chart shows a strong, impulsive trend within orange wave 5 of navy blue wave 3. With the completion of orange wave 4, the market is anticipated to continue its upward momentum. The wave cancel invalid level at 7760.18 is essential for maintaining the current wave count's validity, guiding traders in their strategic decisions based on Elliott Wave Theory principles.
Technical Analyst: Malik Awais
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