Manual Elliott Wave example: (Mar 03) FTSE-100® Futures

This example shows how to use the software's interpretation of Elliott wave theory to anticipate the most likely pattern or direction of the next swings in a market.

In the chart below, a manual Elliott wave count had identified a potential Wave (1orA) high ending on Mar 21 2003. Elliott wave theory suggests that a Wave (2orB) correction should unfold and, more importantly, that this Wave (2orB) correction should sub-divide into a minor ABC. Once the Wave (2orB) low is complete, the FTSE should rally in a Wave (3orC) type swing.

Please see the chart below:

Once the Wave (2orB) low is complete, the FTSE should rally in a Wave (3orC) type swing. Therefore, identifying the end of the Wave (2orB) correction would be the ideal place to enter a new long trade.

This was the projection Steve Griffiths made on CNBC Europe on Mar 5. Please click here to see a video clip of this projection.

Let's see how this turned out:

As can be seen from the chart above, the FTSE did indeed make a corrective decline that unfolded as an ABC. With the Wave C stopping at the typical Wave C WPT support level (the pink rectangle) and with a blue (buy) reversal bar (the last bar on the chart above), this had unfolded as a perfect Type 1 trade set-up.

For more information on the Type 1 trade setup, please click here.

Let's move forward in time to see how this set-up progressed:

The FTSE rallied strongly off this Type 1 low. So, the projection made over two weeks in advance worked out exactly as anticipated.

This projection was made on live television. Please click here to see a video clip of this projection.

Does your current trading program allow you identify and evaluate such set-ups in advance, as quickly and decisively as this ?

Manual Elliott Wave example: (Mar 03) FTSE-100® Futures

If not, it is time to invest in the MTPREDICTOR 4.0 series