No mater how bad the news around you, look at the gold, it's NOT going for new high!
stay away from it until it reach a 0.618 retracement area, about 1510
however, I expect it runs 3 months and end during Apr 2020. price level will be adjusted with the time frame.
Base on a weekly Gap up, the fast phase of run is in action. logically, it should go 1:1 and hits $16xx , however, from it's starting point of $176.99, 10x would be a great point of guessing, $1769.9!
do not guess top, it would be $17699 if the short squeeze continuous!
HKEX:HSI1! reverse this monday, whenever it filled the bull gap, should head further up.
investor should go in either A50 future, A50 etf HKEX:2823, HK index ETF HKEX:2800 , 2x ETF HKEX:7200...etc
I think we should see 30000 within 6 months, and 33000 within year 2020. This place is great for initial invest with stop...
China Virus should be gone soon, with 4Hours chart reverse from monday, we should see new high with in next month or 2.
for those want to invest in China, buy A50, HKEX:2823, or future in singapore exchange, SGX:CN1!
If you want to double your cap, go for 2823, if you want easy, then the future would be best
Chart pattern is having multiple forms. you see patterns from daily, weekly and monthly.
Chart 1, daily here, $180 upside from $1340, $1520
Chart 2, monthly, $300 +1340, $1640. if it runs twice, it'll be $1640+300 = $1940
buy anywhere from here, at least $1500!
Last wave, I have an additional view. from $395, there's a $39 drop and a gap down with another $39 drop to the bottom.
this time, top at $345, I've already short on 340. so, today, I'm positive a little on hand and opening this idea.
Let's say $345-$39, it'll be around $306.
If you check my last post, you should see the target 2(or B, I forgot what I called...
Idea, everything start from small, looking at an ABC pattern drop.
Target last Low(2801), should be there next week.
Target A, this is the same distance it ran from last low:2801 to recent high:2892 about 91 pts. so, 2801 - 91 pts, is around 2710.
Target B, this is the same distance it ran from all time high:2954 to last low 2801 for about 153pts. so 2801 - 153...
Idea, Wave ABC, we're finished B trace back and now heading up for C to about USD1400
Wave A: 2018 Nov 13 @1196.46 to 2019 Feb 20 @1346.75 for a total of USD150.29
Wave B bottom @1266.42
Wave C = USD1266.42 + USD150.29 = USD1416.71
Note: this isn't a prediction of exact point, a range of +/- USD15 should be consider as target...
Idea: we see 700 top at HKD$395 on May 8, and 4 days later it dropped HKD26 in total, bounced up and wasn't able to bounce back up above EMA30.
as drop ABC, where A is $26, and C expects another HKD$26 drop from May 15 @$378.4 to HKD$352.4
idea, Simple A B C
since HSI dropped broken the 2019/3/8 starting point of 28201, I used 2019/5/3 @30081 as starting point and end on 2019/5/9 @28311 for a total of 1770pts
this 1770pts as A and the C set as the line of 28300. the market sometime jump up or down, but I just use this simple point as starting.
The idea is predicting a range of target, not exact...
to make it simple, using weekly chart and we see a C bounce up to around $54 in the next 6 weeks. However, the monthly 30 EMA is seating on $52.60 this month, don't expect the C bounce back over this.
so, to make this short
Long now, target $52.60 or less in 6 weeks.