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FTSE100 bullish project

FOREXCOM:UKXGBP   UK 100 CFD
Hello everyone!

FTSE100 is forming purple bullish wolfewave project on H4.

Prior to fallback to point V, I expect it to form a rising wedge/triangle (yellow) to retest line II-IV.

Good luck and profitable week!
交易進行: Re-adjusted the shape of the grand bullish wolfewave as yellow bearish minor WW formed higher than expected.

Opened short as the volume for indicated bearish candles is definitely above average and confirming the downtrend.


***
Unfortunately, VOL is not displayed here on UKXGBP.
But it's possible to check it on UK100GBP (oanda)

I didn't put it here as the quotes are a bit different and once I started in UKXGBP, I will avoid using different instruments to prevent confusion.
***

交易進行: Red mini wolfewave was formed on m5

Though it is possible to use it as a short entry signal, I wouldn't recommend so
as such little formation can easily be broken (but not necessarily, these waves work on all time frames)

in this case, I view it as a good additional argument for continuation of current downtrend.

交易進行: Due to severe testing of the line 2-4 (purple) during the first half of the day and thus yellow triangle formation forming higher than expected, WW was re-adjusted.

One more sell position was opened at the newly formed peak (point IV) as the pattern is still valid and RSI was confirming its strength.

Currently, the formation is still standing with its banners proudly waving )

交易結束:目標達成: The bastion remained intact, banners are waving and shorts closed )
取消訂單: The impulse of yellow bearish wave still continues - the price deeply surpassed the bottom line of purple WW and though technically speaking for now this formation is not yet broken (as the price is still in "Sweet zone"), but I definitely wouldn't recommend to count on it anymore and thus consider this pattern broken.
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