FREE

$FTSE buying the dips using Elliott Wave Sequence

Previously on 8^th of September 2016, Our Strategy of the Day Video presented to the clients viewed the pullback in the $FTSE as a potential long opportunity in the index, back then index reached the 7 swings extreme from February 2016 lows already in 7 swing sequence. But other Global indices were showing incomplete bullish sequence from February 2016 lows suggesting the move can extend higher as 11 swings sequence ( which is known as Triple three structure in Elliott wave language) to allow other indices to reach the extreme from February 2016 lows before cycle ends in the index. So our strategy was to buy the dips in the index in sequence of 3, 7 or 11 swings as far as pivot from June 24.2016 low remains intact for more upside in the index.

September 8^th 2016 1 hour New York Midday updated chart: suggesting while below 9/02 peak (6929) it was expected that it should do extension lower to reach 100% Fibonacci extension area from August 15 peak around 6693 in 7 swing sequence before buyer’s appear again in the index for continued strength higher for new highs above August 15 peak (6955) or bounce in 3 waves at least. Index reached a low of 6654.82 on 9/15 triggering the longs at 6693 area. Since then index made the bounced strongly as expected & thus allow our member’s to create a risk free position.

October 31. 2016 1 hour New York Midday updated chart: suggesting index bounced strongly & broke to new highs above August 15 (6955) & now has become incomplete bullish sequence from February 2016 lows i.e. showing 9 swings & as far as it is above 9/15 lows has scope to resume higher. Since then index reached the 100% extension area (6973-7124) from 9/15 low (6654) area, Which is another pullback area, currently index is correcting the cycle from 9/15 low (6654) in 7 swing sequence & expected to find buyer’s at (6868-6744) 100% extension area from 10/11 peak (7136) for ideal extension higher to complete the 11 swings sequence from February lows as far as pivot from 9/15 low remains intact or a 3 swing bounce at least.

Keep in mind that market is dynamic and the view could change in mean time. Success in trading requires proper risk/money management, so does understanding of Elliott Wave theory, Cycle and Correlation analysis. We have developed a very responsive trading strategy which defines Entry, Stop Loss and Take Profit levels with high accuracy and allows you to make position Risk Free, shortly after taking it by protecting your portfolio. If you want to learn all about it and become a professional Trader, sign up now and get Try free 14 day trial.

You will get access to Professional Elliott Wave analysis in 4 different time frames, Daily Elliott Wave Setup Videos, Live Trading Room and 2 live Analysis Session done by our Expert Analysts every day, 24 hour chat room support, market overview, weekly technical videos and much more. If you are not member yet, use this opportunity and Sign up for free Trial.