DAX 30 FTSE 100 Technical Analysis Elliott Wave 4 December 2019
DAX 30 FTSE 100 Technical Analysis Elliott Wave
Overview: Corrective Wave 4
Elliott Wave DAX 30: Wave 4 Structure can be completed as an a) b) c) correction at the current low. That said the 38.2% retracement level is still lower at 12,800, but while the current low holds the corrective pattern can be completed. To confirm the low, the DAX 30 needs to complete an impulse wave upwards (five waves). This video examines the current upwards Elliott wave structure using 100 ticks and points out where the market should top and where to trade long from.
Overview: The UK100 is in a more bearish situation than the DAX and if the retest of 7200 fails then expect the market lower at 7100 and 7000.
FTSE100 Elliott Wave: Wave (iv) of iii) The resistance for the current small rally off the current lows is 7200 - 7230 as wave four. The next target lower is 7100.
FSTE100 Trading Strategy: Currently short at 7387 and will continue to hold short and will only exit if 7230 becomes the tested support.
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Education: Elliott Wave Structures
Elliott degrees in order: Grand Super cycle wave, Super cycle wave, Cycle wave, Primary wave, Intermediate wave, Minor wave, Minute wave, Minuette wave and Subminuette wave.
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