FTSE 100 Elliott Wave Analysis - Trading Lounge day chart.

FTSE 100 (UK) Elliott Wave technical analysis

Function: Bullish Trend.

Mode: Impulsive.

Structure: Gray wave 3.

Position: Orange wave 5.

Direction next higher degrees: Gray wave 3 (continue).

Details: Gray wave 2 is completed. Now gray wave 3 is in play.

Wave cancel invalidation level: 8,178.07.

The FTSE 100 Elliott Wave analysis on the day chart suggests a bullish trend, characterized by an impulsive mode that reflects strong upward momentum. The primary structure in focus is gray wave 3, part of the ongoing upward trend.

Currently, the market is positioned within orange wave 5 of gray wave 3, indicating that the market is advancing in the final phase of this wave sequence. The analysis shows that gray wave 2 has been completed, and now gray wave 3 is actively pushing the market higher.

The next expected phase is the continuation of gray wave 3, pointing to further upward movement in the near term. This phase will likely continue driving the market upward until a corrective phase begins. The wave structure follows the typical Elliott Wave pattern, where impulsive waves drive the market higher, and corrective waves provide brief pullbacks.

The analysis also sets a wave cancellation or invalidation level at 8,178.07. If the market falls below this level, the current Elliott Wave count will be invalidated, necessitating a reassessment of the wave structure. However, as long as the price remains above this threshold, the bullish trend in gray wave 3 is expected to continue.

Summary

  • The FTSE 100 is in a strong bullish phase, with gray wave 3 progressing upward.

  • Orange wave 5 is in play, driving further upward momentum.

  • The invalidation level is set at 8,178.07, with the trend expected to remain intact unless breached.

FTSE

FTSE 100 Elliott Wave Analysis - Trading Lounge weekly chart.

FTSE 100 (UK) Elliott Wave technical analysis

Function: Bullish Trend.

Mode: Impulsive.

Structure: Orange wave 5.

Position: Navy blue wave 3.

Direction next higher degrees: Orange wave 5 (continue).

Details: Orange wave 4 is completed. Now orange wave 5 is in play.

Wave cancellation invalidation level: 7,920.18.

The FTSE 100 weekly Elliott Wave analysis indicates that the market is currently following a bullish trend with an impulsive mode, suggesting strong upward momentum. The primary wave structure under focus is orange wave 5, which is part of the larger bullish wave sequence. The market is positioned in navy blue wave 3, indicating the continuation of this bullish trend.

Orange wave 4 has been completed, and the market has now entered the next phase: orange wave 5. This wave signifies the continuation of the upward trend, with further gains expected as wave 5 progresses.

The analysis highlights that orange wave 5 is actively in play, representing the final leg of this particular wave sequence. As long as the price follows the current wave structure, further upward movement is anticipated. The bullish trend is expected to persist unless the key wave cancellation level is breached. The invalidation level is set at 7,920.18, meaning if the price falls below this level, the current Elliott Wave count would be invalidated, and the market analysis would need to be reassessed.

Summary

  • The FTSE 100 is in a bullish phase, with orange wave 5 in progress, signaling ongoing upward movement.

  • Orange wave 4 is completed, and the market has resumed its bullish trend.

  • The invalidation level is at 7,920.18, with the trend expected to continue unless this level is breached.

Chart

FTSE 100 (UK) Elliott Wave technical analysis [Video]

Share: Feed news

As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.

Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.

The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.

Recommended content


Recommended content

Editors’ Picks

EUR/USD stays near 1.0400 in thin holiday trading

EUR/USD stays near 1.0400 in thin holiday trading

EUR/USD trades with mild losses near 1.0400 on Tuesday. The expectation that the US Federal Reserve will deliver fewer rate cuts in 2025 provides some support for the US Dollar. Trading volumes are likely to remain low heading into the Christmas break.

EUR/USD News
GBP/USD struggles to find direction, holds steady near 1.2550

GBP/USD struggles to find direction, holds steady near 1.2550

GBP/USD consolidates in a range at around 1.2550 on Tuesday after closing in negative territory on Monday. The US Dollar preserves its strength and makes it difficult for the pair to gain traction as trading conditions thin out on Christmas Eve.

GBP/USD News
Gold holds above $2,600, bulls non-committed on hawkish Fed outlook

Gold holds above $2,600, bulls non-committed on hawkish Fed outlook

Gold trades in a narrow channel above $2,600 on Tuesday, albeit lacking strong follow-through buying. Geopolitical tensions and trade war fears lend support to the safe-haven XAU/USD, while the Fed’s hawkish shift acts as a tailwind for the USD and caps the precious metal.

Gold News
IRS says crypto staking should be taxed in response to lawsuit

IRS says crypto staking should be taxed in response to lawsuit

In a filing on Monday, the US International Revenue Service stated that the rewards gotten from staking cryptocurrencies should be taxed, responding to a lawsuit from couple Joshua and Jessica Jarrett.

Read more
2025 outlook: What is next for developed economies and currencies?

2025 outlook: What is next for developed economies and currencies?

As the door closes in 2024, and while the year feels like it has passed in the blink of an eye, a lot has happened. If I had to summarise it all in four words, it would be: ‘a year of surprises’.

Read more
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

Forex MAJORS

Cryptocurrencies

Signatures