FTSE Elliott Wave Analysis for Monday 11/09/2023 (+ Higher TF)
For traders (lower timeframe):
The primary expectation is now that we will go back into the wave X area to take out the previous high. That would mean we get an additional correction up as a wave X. This move should be followed by further downside as a wave Y.
For investors (higher timeframe):
In the higher timeframe, investors should wait till the higher degree WXY correction is finished. It is still early but we are approaching the first relevant areas.
The primary expectation is now that we will go back into the wave X area to take out the previous high. That would mean we get an additional correction up as a wave X. This move should be followed by further downside as a wave Y.
For investors (higher timeframe):
In the higher timeframe, investors should wait till the higher degree WXY correction is finished. It is still early but we are approaching the first relevant areas.
