In this analysis, I talk about how I used Elliott Waves to count the moves of Hang Seng Index from Jan 2018 to 24th Nov 2023. The main points to take note are these: 1. The corrective move down in 2023 is over. 2. We are still in a minor corrective move down. 3. But a wave 3 up is round the corner and that it will be an explosive one. 4. The risk is low for this...
A quick update to the HSI Elliott Wave counts that could potentially signal the end of the entire down move.
We made a new high in the DOW JONES and this has some implications. The wave ((2)) low could be in after a triple three correction or WXYXZ structure. This would mean that we are now working on an impulse. The upward structure is strong but so far we are only seeing three waves. Therefore, we cannot exclude the possibility that the upward move is corrective. As...
Clearly seen on this chart is the cup and handle that lasted for 12 years and now we are going into a wave 3 of 3.
The wave (4) as a WXYXZ structure in the primary scenario was confirmed as we took out the wave (3) high. On the one hand, this is bullish as we are now working on a wave (5). On the other hand, we have to be careful with the expectations for this fifth wave. With the current data, we favor some more upside but we do not expect a huge wave (5) bull run.
In the higher time frame, we are working on a wave ((2)) correction down. This wave ((2)) is unfolding as a WXY with an expanded flat as wave X. The secondary scenario assumes that the wave ((2)) low is in after a triple three correction. As long as we do not take out the 31/07/23 high, we are reluctant to make this our primary scenario.
The S&P 500 reacted strongly from the extreme boundary of the wave (4) area. The main question is now if this reaction is impulsive or corrective. With the current data, it still looks corrective.
In the higher time frame, we are working on a wave ((2)) correction down. This wave ((2)) is unfolding as an ABC and we are currently working on the wave B. In the lower time frame, wave B is unfolding as a WXY structure.
As explained in the video, I explained how I break down the TSLA stock prices into Elliott Waves and why I am bullish on this stock. I also explained why the alternate bearish counts are unlikely.
We are still working on the wave (2) as an ABC structure. The wave B is unfolding as an ABC pattern. As we came close to the wave (2) area and based on the NASDAQ and S&P 500 analyses, the alternative scenario calls for the end of wave (2) as a WXYXZ structure. Price action in the lower time frame will further guide us in these two scenarios. If we start to turn...
Motherson sumi chart analysis for investment and trading positional trading
Sorry for the low-quality sound, my mic was not plugged in. The wave (4) as a WXYXZ structure in the primary scenario was confirmed last week as we took out the wave (3) high. On the one hand, this is bullish as we are now working on a wave (5). On the other hand, we have to be careful with the expectations for this fifth wave. With the current data, we favor...
The S&P 500 reacted strongly from the extreme boundary of the wave (4) area. The main question is now if this reaction is impulsive or corrective. With the current data, it still looks corrective.
In the higher time frame, we are working on a wave ((2)) correction down. This wave ((2)) is unfolding as an ABC and we are currently working on the wave B. In the lower time frame, wave B is unfolding as a WXY structure.
The wave (4) as a WXYXZ structure in the primary scenario was confirmed last week as we took out the wave (3) high. At the one hand this is bullish as we are now working on a wave (5). At the other hand, we have to be carefull with the expectations for this fifth wave. With the current data, we favor some more upside but we do not expect a huge wave (5) bull run.
The S&P 500 reacted strongly from the extreme boundary of the wave (4) area. The main question is now if this reaction is impulsive or corrective. With the current data, it still looks corrective.
In the higher time frame, we are working on a wave ((2)) correction down. This wave ((2)) is unfolding as an ABC and we are currently working on the wave B. In the lower time frame, wave B is unfolding as a WXY structure.
First video on how I analyze the Nasdaq 100 using Elliott Waves, Fibonacci extension levels, support and resistances, and technical indicators. Apologies first if it's not up to standards. I did this impromptu and didn't really prepare that much. Will do better next time :) Here's a summary on why I think it is bullish: 1. Cup and Handle 2. Wave counts...