FCT potential EW running triangle
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FCT started a consolidation pattern that looks like the beginning of an ABCDE Elliott Wave Running Triangle.
If C wave bottoms as expected, let's look at a zigzag formation of the DE wave for confirmation.
Buy target would be at the end of E wave
If C wave bottoms as expected, let's look at a zigzag formation of the DE wave for confirmation.
Buy target would be at the end of E wave
Note
C wave ended, bouncing off support. So far so good...Note
On track, we've double bottomed and now en route to higher grounds. Potential resistances at .111, .118 and .122 where we should see the top of the first shoulderNote
Note
FCT didn't break the downtrend, and a bit early for a shoulder formation. The next leg will tell it allNote
FCT didn't get enough momentum to rise past its downtrend. Pattern is obviosuly broken. Idea closed :/
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