this channel contains an Elliott wave in five waves and the recent high is the top of wave 4. If however wave 4 takes the shape of a triangle, the recent high is wave (a) inside wave 4. In this scenario the FTSE will bounce back to the upper line as the current decline is wave (b) and the bounce will be wave (c). A break above the upper line ans above 6765 would be bullish as this would imply a trend reversal.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.