FTSE 100 (UK100): Fakeout Followed by Flawless Support Test – WaUK 100CAPITALCOM:UK100ChartPro_Data### 🔄 Macro Technical Update & Wave 3 Projection (Ref: UK100_2026-06-08_18-58-11.png) Our last analysis nailed the structural behavior of the UK 100 Index (FTSE 100) with absolute precision. We explicitly anticipated that the initial attempt to break out of the multi-month symmetrical triangle would fail, forcing price action back inside the structure to sweep internal liquidity. ### Structural Recap & Flawless Support Hit: * **The Symmetrical Triangle Trap:** As predicted, the market executed a textbook fakeout at the upper descending trendline, followed by a clean markdown to capture sell-side liquidity at the absolute floor of the pattern. * **The Current Micro Consolidation:** Price has tightly coiled on top of the rising **72-period Exponential Moving Average (red line at 10,336.7)**, forming a very narrow consolidation range right at the apex of the structure. ### The Wave 3 Bullish Expansion Blueprint: This multi-week sequence of structural rejections has laid the groundwork for a highly aggressive impulsive phase: 1. **The Short-Term Trigger:** A clean daily close above this immediate micro-consolidation will validate the definitive breakout out of the larger symmetrical triangle. 2. **The Wave 3 Target Matrix (The Red Arrow):** Once the breakout is verified, the institutional order flow is primed to drive an impulsive Wave 3 expansion. Our mathematical Fibonacci matrix maps out the upcoming hurdles: * **Immediate Hurdle:** The major horizontal resistance line sitting at **10,559.7** (overlapping with the 0.50 Fibonacci level at 10,620.9). * **The Primary Wave 3 Objective (The Red Arrow Area):** If the breakout sustains momentum, the prime target sits at the golden cluster between **0.618 Fib (10,740.6)** and **0.786 Fib (10,911.2)**, pointing directly toward the previous historical peaks. ### Tactical Execution Playbook: We are holding a strong bullish bias. Risk is now highly defined right below the recent dynamic support cluster and the EMA 72 baseline. Watch the upcoming daily candle closes closely—acceptance outside of this tight consolidation zone marks the official ignition point for the Wave 3 macro rally. --- 📊 **ChartPro Data** | By Rogerio Zaglia *Systematic Market Structure, Wave Geometry & Quantitative Research.* ⚠️ **Disclaimer:** For educational and informational purposes only. This technical chart study represents a personal trading model and does not constitute financial, legal, or investment advice.