Hang Seng index of Hong Kong listed shares

FXCM

:

HKG33

This rather optimistic count for the Hang Seng would be invalidated with any break below the 24537 level.

let's see from the DayChart in Milking...

D1|HKG33 Elliott Wave Following.

H2|HKG33 EW Analysis.

H1|HKG33 EW Analysis.

Hang Seng Index will fall in either way

Possible Triangle Continuation figure

HKG33 waiting for a little rebond to enter long

The bearish AB=CD pattern is completing at 24432 level and the Supply Zone also locates at 24442-24489 levels. Meanwhile the RSI has been overbought. So it is good to sell at 24440-24490 levels when the price action gives signals in the PRZ. SL:above 24490 TP1:24170 TP2:24000 and further more

HSI is trading in a small tunnel after reaching 0.618.

HKG33,W

HKG33,M

SHORT FOR WAVE 2

SETUP - HKG33 in a wave 4 channel. Break to the up sidde will suggest 5 of 3.

I believe that the 2009 crash was a wave 1 of what should now become a bear market. The corrective nature of the rise since that time is in 3 waves with wave C being much weaker than wave A. We should now expect to see a wave 3 down for what one can assume is wave A of a larger correction.

SETUP - The break of the blue dashed will indicate the start of the impulse. Looks to me that wave 1 and 2 of 5 might be finished.Strong move up expected.

Accumulate longs in the low 20,000s.

Go long in box. We could be forming a major perma-bottom