Continued from STI Analysis — the next peak and trough ? (112)
FTSE STI closed 3,394.21 on twenty seventh Jan 2023 edging up because the begin of the yr.
Magenta — STI Constructive
FTSE STI closed 3,394.21 on twenty seventh Jan 2023 edging up because the begin of the yr.
Magenta — STI Constructive
As talked about beforehand, this situation presents 2 attainable wave counts. With STI transferring in the direction of the earlier heigh of three,466.23, this does seem like the wave depend bias in the direction of the case 2 wherein STI is in Intermediate wave ((v)) of Major wave 1. Nonetheless, do word that case 1 (STI is in Major wave 2 doing the Intermediate wave ((b)) ) is but to be invalidated. Despite the fact that STI strikes above 3,466.23 going ahead, this nonetheless but to invalidate case 1. It’s because in EW corrective wave, there’s a construction referred to as Expanded Flat (3-3-5 sample) whereby the wave B terminates past the beginning degree of wave A, usually 123.6% of wave…
