The beginning of an uptrend back to 38p?FBT has been trending down for a long time, is this a false dawn or a turning point? Comments?
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About FIRST TRUST GLOBAL FUNDS PLC NYSE ARCA BIOTECHNOLOGY IDX UT ETF A USD
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May 27, 2020
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IE00BL0L0H60
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FBT.UK FORBIDDEN TECHNOLOGIESGaps may be filled, seems FBT likes gaps filled.
IMO no advice intended do your own research.
BWTFDIK.
Time For an ABC Correction?Elliot Wave Rules:
Rule 1: Wave 2 cannot retrace more than 100% of Wave 1.
Rule 2: Wave 3 can never be the shortest of the three impulse waves.
Rule 3: Wave 4 can never overlap Wave 1.
Postulate
Is it time for an ABC correction? Fibonacci seems to align quite well....
FBTFBT ,I note a head test(red) of the previous inverted head and shoulders (green) these usually play out, ref 2008 crash on US index look for similar pattern but in a bull market eg. invert everything. Russel, SP etc had this formation in the bull market head and shoulders then a test of the head whi
FBT - bullish bat?Harmonics don't often work on small caps & the A-C and X-D angles on here aren't exactly 88.6% BUT it's a pretty good looking bat all the same.
#FBTThis chart is weekly chart showing the overall massive pattern - the smaller patterns are still in play.
In my own opinion this major pattern still favours 38-49p as a target.
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