Possible Elliott Wave setup for #LLOY #FTSE100 #UKSHARES

282 10
Long term long bias
Kind regards

Rajan Dhall MSTA
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

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

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.
@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?
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.
@Capra, Correct
EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Send feedback Ideas Published Followers Following Private Messages Chat Sign Out