In this video I do trend and cycle analysis on the Hang Seng index and explain my thoughts on why I think big opportunities are just around the corner.
Note: my opinions, though supported by multiple levels of technical analysis, are still just my opinions and should not be taken as facts as there is no guarantee that what I think will happen will play out.
Preference for wave 3 to extend. Using various fibonacci extension levels, I would imagine that HSI will ultimately move down to 14480 around 2nd Feb 2024.
Please note that the last 20 seconds of this video is me trying to figure out which tab is my recording on in order to stop the video (LOL).
Anyway, this is an update to HSI and that I expect it to fall even more this coming week. I expect the trendline to break and move down to ultimate target of 15000-15100 over the next 2 weeks.
My previous analysis of the Hang Seng Index was invalidated. And now I've done a revamp of the wave counts for 2023.
This is the summary:
1. Hang Seng will continue to fall either till Christmas or EOY.
2. Target support, or end of correction, will be 14980-15100. Look out for this support zone.
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...
Trap was there
Key lesson: Degree of sharpness of consolidation moves in and around trap structure affects pullback depth. More sharp reactions --> less pullback depth and vice versa
Ok location
HTF flow didn't align as well
Micro trade management could have been better
Need to get into high confidence backed by reasoning and data mode.
Allow me to protect my reputation
by saying that you should not
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buy what i tell you
to buy or sell what i tell you to sell
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Am not an expert in trading
i just have a high interest
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Please do your own research
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Now in this video, i explain to you
why its a good time to
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trade USDJPY
also as a BONUS
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in the video, i show you another Forex pair you...
Risk control mindset check
Trap evidence check
Logical buyer location
In-line with broader trend, no sign of genuine reversal, rollover of pullback and logical target
The Nikkei and Hang Seng along with my local ASX200 are well under pressure today and may see further downside in coming sessions. In the video I take a look at the daily charts for my major Indexes and discuss where I see the risk and how I will look to trade any downside if this weakness continues.
Hope this idea will inspire some of you !
Don't forget to hit the like/follow button if you feel like this post deserves it ;)
That's the best way to support me and help pushing this content to other users.
Kindly,
Phil
Hope this idea will inspire some of you !
Don't forget to hit the like/follow button if you feel like this post deserves it ;)
That's the best way to support me and help pushing this content to other users.
Kindly,
Phil
Here is our forecasting report for HangSeng Index (HSI) on 6 February 2018. Enjoy.
Good trading
NinjaSingapore
6 February 2018
DISCLAIMER
Our research materials are provided for information purposes only. They should not be used or considered as an offer to sell or a solicitation of an offer to buy any securities. The research materials are prepared for...
Hope this idea will inspire some of you !
Don't forget to hit the like/follow button if you feel like this post deserves it ;)
Indicators used in this forecast are PRO Sinewave & PRO Momentum .
You can check my indicators via my TradingView's Profile : @PRO_Indicators
Kindly,
Phil
If you want to learn more about the basic rules to trade with my...
