RajDhall
Long

Possible Elliott Wave setup for #LLOY #FTSE100 #UKSHARES

LSE:LLOY   LLOYDS BANKING GROUP PLC ORD 10P
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7
283 10
Long term long bias
Kind regards

Rajan Dhall MSTA
fxdaily.co.uk
RajDhall ,, thanks for your wave analysis ,,much appreciated,, but can you please advise on what's expected after the 5th wave is complete ,, will it be an ABC correction or 5 waves down.

Thanks again

Richie165
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RajDhall ,,, Your wave analysis is much appreciated ,, but could you please advise on whats expected after the 5th wave is completed will it be an ABC correction or 5 waves down.

Thanks againd
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RajDhall richie165
@richie165, No problem I will get this done in the afternoon
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richie165 RajDhall
@RajDhall,

Appreciate that ,,, may I also ask your opinion on one other point. I do believe that we are looking at the correct wave count as Wave 4 is developing into a flat correction wave which would be correct as Wave 2 was a lot sharper. My question is about the expected length of Wave 5 ,,I know you highlighted the 70p area which no doubt will find some resistance but what are your thoughts regarding the strength of Wave 3 which could be interpreted that we can expect Wave 5 to be as strong as Wave 1 (+28%) which would give us a target area of low 80,s .

Many thanks
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RajDhall richie165
@richie165, W.5 could extend to any one of these - 127%, 162%, 200%, 262% of wave 4, the key for me is which one makes the most sense and confluences with support and resistance levels.
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richie165 RajDhall
@RajDhall,

Thanks again for your thought's ,,its going to be really interesting to see how this eventually unfolds.

I must also say that having read your original post/chart its made me dive back into my old notes/references on Elliots and brush up on a few things.


Great thread



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Interesting, thanks. If a wedge then taking the high and low point into account the fall from break should be 3p giving the target of start of wave 4 as you highlighted, 62p. This seems a pivotal point in recent trading with it being the high of 1st Sept & 15th Nov and held as support towards end of Dec. Thanks for sharing and I agree with your sentiment for what it is worth, lol.
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@Capra, Thanks let see the sentiment for banks has been good and Trump removing volker and dodd frank has been good for them, the only thing with this trade is how far will the pull back go?
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Capra RajDhall
@RajDhall, Well a break of 62p would make it invalid would it not??? As wave 4 will be entering zone of wave 1.
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@Capra, Correct
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