FTSE

FTSE breakout
Resistance 6830, 6885

dl.dropboxusercontent.com/u/7238706/FTSE...8daily%29april19.png

Well, from the way prices rose over the last four days, it looks like I was being a little too conservative. The move up from 6491 is now looking very much like a possible impulsive move - I won't bore you with the details but I'm looking for 6850 to be bettered with the current wave to validate the impulse....should be a few good days ahead

dl.dropboxusercontent.com/u/7238706/FTSE...20Cash%20%28-%29.png

A possible scenario for the FTSE....

diver993 wrote: Well on IG at 15.10 yesterday, we had a 'fat finger' trade to a high of 6677.5, which IG are try to say was legit. If so this completely screws my 5 way move as wave 4 would overlap wave 1, which we all know is a 'no-no'. Before i 'throw the baby out with the bath water' maybe someone with more salubrious software could confirm or deny this trade please?

Thanks,

Diver

I had price alerts go off too yesterday because of this. Definitely fat finger trade.

Well on IG at 15.10 yesterday, we had a 'fat finger' trade to a high of 6677.5, which IG are try to say was legit. If so this completely screws my 5 way move as wave 4 would overlap wave 1, which we all know is a 'no-no'. Before i 'throw the baby out with the bath water' maybe someone with more salubrious software could confirm or deny this trade please?

Thanks,

Diver

Well the latest action has clearly outstripped the regular 50-61.8% retracement and it now looks like this could be forming a flat. In terms of waves these are of the 3-3-5 variety. We have already had the two 3's so it wouldn't be a surprise for this latest move to be of the 5 way variety.
dl.dropboxusercontent.com/u/7238706/FTSE...sh%20%28daily%29.png

If, and as usual that's a big if, I'm correct, then we have already had waves i and ii, and possibly iii though I'm not at all sure on that as it could extend further. Assuming iii is in, then expect a small pull-back to around 23.6 - 38.2% of wave iii(the blue box labelled iv) before heading further down to make a new low for this swing somewhere below 6350.