FTSE

Ftse played out perfect for the week....

yesterday close - nice and simple chart.

todays close was 6381 apporx.. ...

dl.dropboxusercontent.com/u/40497882/FTSE_daily%20simple.JPG

dl.dropboxusercontent.com/u/40497882/FTS...y%20simplecandle.JPG

Textbook stuff so far....

A = 6213
B = current - complete minor A @ 6424, minor B @ 6224 minor (Hl) c @ .618 approx ~6421-47
C = A @ ~6080

also if you observe the 4hour chart inv H&S with neckline in @ approx 6355... projected move if breaks out would come in @ 6421-47

but before that some key numbers to get through 6355 / 91 / 412... the latter being tough to crack.... all imho

6355 & 6335 important for today

here's today chart, played out nicely...

where to next i wonder....

dl.dropboxusercontent.com/u/40497882/FTSE100_24April13_2hr.JPG

WaveSurfer wrote: A = 6213
B = current - complete minor A @ 6424, minor B @ 6224 minor (Hl) c @ .618 approx ~6421-47
C = A @ ~6080

also if you observe the 4hour chart inv H&S with neckline in @ approx 6355... projected move if breaks out would come in @ 6421-47

but before that some key numbers to get through 6355 / 91 / 412... the latter being tough to crack.... all imho

6355 & 6335 important for today

A close above 6424 (previous high) on FTSE (it has already made a high of 6437 today)would mean the current correction on FTSE is over.
Daily chart was weak and hence the correction but weekly chart still looks well with good strength in the uptrend.
I wouldn't short this until 6534 unless it shows some clear bearish candlestick signal.

Thanks RC - im short now as of this morning pumpo... will pop chart later.