A close in look at the FTSE 100, showing how parallel trend channels were identified, and counts of corrective waves. If you have not reviewed the first video in this channel, it would be helpful to do so before viewing this video. Nothing in this video is to be taken as trading or investment advice. This video is solely to help determine if Elliott Wave theory is useful in actual practice. This work is supplemental to the work on the channel of Max Andronichuk, and you are encouraged to review all of his videos as they really are excellent.
Good question Schweizer. Looks like the only alternative is to put a big "A" on top of 5,400 on 2/23, a big "B" below 5,260 on 2/26 and the current wave is the terminal "C" wave of the correction. Label that "C" wave terminus as (ii), also, This will likely close that pesky gap at S&P 1,115 if the move continues to the U.S. markets.
ElliottTrader 2 years ago
So what is you new count as it did exceed black ii at the open.
Schweizer135 2 years ago