Hello traders, FTSE 100 (UKX) in daily timeframe , this analysis has been prepared in daily timeframe but has been published for a better view in 2 day timeframe.
All of these counts correspond to a larger wave that may have preceded a correction or triangle.
Based on counting, we are in a zigzag motion, and from this zigzag, waves a and b are over, and now we are inside wave c.
Wave c itself is formed inside a channel or a triangle, and from this pattern, waves 1, 2, 3, and 4 are completed, and now we are inside wave 5.
Wave 5, like the other waves of wave c, is in the form of three waves, and of these three waves, the last wave does not end, and the end of this wave is confirmed when the red circle or trend line or the bottom of the channels is broken.
We do not know the amount of correction at the moment, but it is possible to correct up to around 6550.
If the warning signal range is broken upwards, wave 5 is larger than wave 3, in which case we have to re-examine the waves.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️
All of these counts correspond to a larger wave that may have preceded a correction or triangle.
Based on counting, we are in a zigzag motion, and from this zigzag, waves a and b are over, and now we are inside wave c.
Wave c itself is formed inside a channel or a triangle, and from this pattern, waves 1, 2, 3, and 4 are completed, and now we are inside wave 5.
Wave 5, like the other waves of wave c, is in the form of three waves, and of these three waves, the last wave does not end, and the end of this wave is confirmed when the red circle or trend line or the bottom of the channels is broken.
We do not know the amount of correction at the moment, but it is possible to correct up to around 6550.
If the warning signal range is broken upwards, wave 5 is larger than wave 3, in which case we have to re-examine the waves.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️