BRENT OIL – ELLIOTT WAVE COUNT

Today’s close has now produced a higher high and a higher low which increases the chance of a bullish move unfolding.

Wave (iii)
Today’s close above b of (ii) makes me think we’ve seen the end of the Double Zig-Zag correction from the 127 high
If so, a likely target for wave (iii) will be back near the 127 high as this is also a 161.8% projection from waves (i) and (iii)
Wave (iv)
Wave (ii) retracement was a simple correction (ABC/Zig-Zag) so wave (iv) is likely to be complex (triangle, flat, expanded flat or combinations of)
However wave (ii) was quite deep at 76.8% so wave (iv) could be quite shallow (23.8%) – therefor I’m favouring a complex flat stalling around 121
Wave (v)
61.8% projection from (iv) is around 137
Please note I will need to do cycle analysis to anticipate timing as this EW is purely looking at the projection and retracement ratios as opposed to the timing of these events.
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FTSE100: Harmonic Elliot Waves

Harmonic Elliott Waves is a new method of wave counting by Ian Copsey. He’s modified the original impulsive wave structure by using harmonic ratios of the fibonacci sequence to forecast his wave counts. 
I’m working my way through his new book Harmonic Elliott Wave: The Case For Modification of R. N. Elliotts Impulsive Wave Structure so naturally keen to take apply this to the FTSE and see if I can get even remotely close.
I am by no means a master of his method yet, but will continue to study it as the calls Ian has made using his method are truly staggering, and at times his price forecasts on Indices and FX are within a pip.. months before the event happens! I won’t reveal his methods as they are in his book, he teaches a course and he now offers an analysis service. There’s a free introduction on his website with a pdf and video, and is definitely worth a look if you like count waves. 
Assuming FTSE does continue to decline I feel that the 4971.4 is a crucial swing low, so could prove to be an appropriate target as this is also a 50% retracement level. 

FTSE100: Gann Fractions and Elliot Waves

There is a Gann cluster around the 6474 but at present have no idea  of  how long it will take to get there. I intend to study FTSE cycles to aid this but need access to more data.
FTSE narrowly took out November high but struggled to turn this into support – for the last 3 trading days of last week it was range bound between 5900 and 5850, with Thursday producing a Doji and Friday finishing down with 1.5 billion shares traded. The last time this happened at the end of November it turned out to be a pivotal point, so interested to see if it retraces to one of the red Gann lines before having another go at turning 5900 into support. If it convincingly breaks resistance @ 5917 I’ll be aiming for the Gann cluster around 6474.
FTSE-Gann-Large
FTSE-Gann-Volume-6-month
 ftse-elliot-wave-weekly