consolidated, now in a compressed wedge, ready to rocket (HODLER)
Uk100 Negative Divergence Setup, another try!
Wedge forming and possible 3 point drive with breakout to upside... methink!
Bounce and held at 50% Fib line.. Good for buy to new highs.
Following negative momentum divergence, ABC correction in play to be confirmed by resistance at 50% Fib level. Good for short term long, sort stop and then short to complete C wave which should be similar length to A wave which just happens to point to next support level. Should Rocket form here!
Waiting for a touch around 13050 accompanied by momentum divergence to trigger a buy signal. Short stop with expected TP at projected 61.8 fib line (1st) and wait for more formations.
Gearing Up for that impulse, awaiting a wave B finish to open some longs "between fib level" 5950 and 5920
Possible Bearish Cypher, R/R looking good so going to give it a crack anyway!!
In correction, still waiting to long entry took a small lot short to 1.075 from 1.0865 then long again for wave 3 impulse up!
FTSE low bounce to 50% fib indicating wave 4 (expected deep from strong bullish divergence) is complete, ive taken shorts from 6268 with target at lower tram line. One can hope cant they.
From T1, parallel to T2 which was confirm by "kiss" for a nice short position to a parallel channel down to target 6130. (TP1 was 50% fib, 50% of position closed) Personally, this was my biggest ever profit - timescale. Now we are on T3, i would like to see another test of this lower channel line to confirm its validity and up it should go. Stops just below 61.8%...
Waiting for completion to validate, will take long position around 1900 with 25 point stop