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FTSE
11 years 8 months ago #10709
by diver993
Ok, Daily chart.....
dl.dropboxusercontent.com/u/7238706/FTSE...aily%20july25%29.png [click this link for a better view]
.... I must confess to have gotten a little lost with this in the past week, so I ripped all the lettering from the chart and took a fresh look. The retrace to the recent low at 6643 is 61.8% of the entire move from 6395 on Feb 3rd, thru to the high at 6896 on May 15th. I have provisionally labelled the high as wave A and the retrace as wave B. If the current move develops as expected we should see an eventual high in the blue area between the 100% and 127.2% extensions. Please note, as stated, these are provisional figures only and they could well extend from these projections.
A close-up look at the same chart shows just how much the price reacts to the Fibonacci levels - it never ceases to amaze me
dl.dropboxusercontent.com/u/7238706/FTSE...sh%20%28close%29.png [click this link for a better view]
dl.dropboxusercontent.com/u/7238706/FTSE...aily%20july25%29.png [click this link for a better view]
.... I must confess to have gotten a little lost with this in the past week, so I ripped all the lettering from the chart and took a fresh look. The retrace to the recent low at 6643 is 61.8% of the entire move from 6395 on Feb 3rd, thru to the high at 6896 on May 15th. I have provisionally labelled the high as wave A and the retrace as wave B. If the current move develops as expected we should see an eventual high in the blue area between the 100% and 127.2% extensions. Please note, as stated, these are provisional figures only and they could well extend from these projections.
A close-up look at the same chart shows just how much the price reacts to the Fibonacci levels - it never ceases to amaze me
dl.dropboxusercontent.com/u/7238706/FTSE...sh%20%28close%29.png [click this link for a better view]
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