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.