Hang Seng Daily Head and Shoulders

INDEX:HSI   Hang Seng Index
45 2 2
Only noting as it confirms my higher time frame bias on the HSI            
We are at major long term resistance with a confluence of long term trend lines and a harmonic pattern
Could it be only top of a major wave 3 and a 4th down to come?
dionvuletich WallStScalper
I don't know BL - it broke a triangle to get here and could retest the breakout level which would confirm this shorter term view,

But my longer time frame posts uploaded 4 days ago suggests it is a major level on the monthly charts, this pattern only confirms the HTF and gives a potentially tighter stop area..
Although these right shoulder stop areas are predictable and quite often run by stop hunters as everybody knows how they are traded

I would much rather short on a Cypher at 28020ish (supply level) with a stop above the head, as the head and shoulders traders get stopped out I will be selling to them and then positioned short with my stop above the swing high at 28595 or so which I think offers slightly better protection

Time will tell... can only show what is there now...
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out