1. Fibonacci
As shown in this chart, we can see the retracements to 0.618 or 0.786 level.
So, i will wait to touch the point.
# Don't be serious on my chart. #
Seldom apply Wyckoff Method on Indexes. However, we seeing distribution characteristics that are hard to ignore on the TVC:KOSPI (Weekly). The characteristics provided technical evidence that the index has completed its Distribution phase and is expected to enter the Mark Down phase. Applying Fibo to project downside target objectives.
Is the Kospi about to embark on a 5th wave here or has this complex correction got some more twists and turns? It will be interesting to me what this index does at it's yearly pivot (2347) and I will be keeping an eye on this one for clues. At the moment it is too early to tell, for me at least, but I reckon I can see 5 waves down to possibly complete a c wave and...
Classic chart pattern. Impulsive move down followed by overlapping upmove to 61% Fib = another sharp leg down to follow in 3 or C.
Classic H+S top pattern formation. Divergent RSI.
Sell current 2410, stop 2550. Looking for 2100 target area coming few months. (risk 140 for profit 310).
One of the four asia dragons, South Korea isn't doing any good compare to JPN and CHN.
It just had one big bear flag, and now another one developing plus the fact that price was rejected by 200ema twice.
Due to insufficient date, the support region is extended from 2011.
Will Korea follow the footstep of Jpn & Chn to reduce rates or their version of QE to avert...
![KOSPI: [KOSPI] KOSPI RESISTANCE - SHORT](https://s3.tradingview.com/a/atxkgX06_mid.png "[KOSPI] KOSPI RESISTANCE - SHORT")
