Hello Traders, Hang Seng broke below 26861 and has declined to 24748 area on July 27! This could be a good portion of wave 3 as visualized at chart! An open target is at 2358x area, where wave 3 is a 1.618-Extension of wave 1. It needs a break of the 28218 level to change the outlook. Seasonally spoken, we enter a time of „weak-perfomance“ in the coming month...
Hello Traders, another week has gone and N50 has worked his way down to my lower targets. Yet, it failed to break below 15582 area on a daily and weekly close; the candle on July 28 was a „hammer-candle“, a bullish reversal match! Since the high on June 15, N50 has moved sideways, what look like a „pause“ in an uptrend! As before, it needs a break on the upside...
Hello Traders, Hang Seng is on track to break below the July 9 low @ 26861! If so to come, it would open the door to 25939. More bearish potential exist! I have visualized the path for my idea! A break off the possible wave (2) level @ 28218 would be a first sign, that the correction could be done. It should open the door to the wave X high at 294xx zone and a...
Hello Traders, since the possible wave 4 low, N50 has risen to 15899.50 on Friday, where it found resistance as to see at the hourly and daily chart. It needs a break of these levels to rise to new high's again. The area at 16110 is still a good area for this scenario! The move from 15578 look like a „five-up“ and it could retrace a good portion of this move. A...
Hello Traders, Hang Seng has broke out of the flag and declined to 26861 on July 9! This decline was a 0.618 Fibonacci of wave a/w! In rare cases, this could be all off the correction in a wave c/w! But as long as HS is trading below 28833 level I favor the odds for a wave c or y which is not done to the downside. A break of the July 9 low would open the door to...
Hello Traders, as per my latest analysis N50 gaped to the upside on July 12 and touched the price territory of wave 1. So a wave 4 pullback was off the table, it could be a new waves 1-2. The following decline to ~15645 area was a wave 2. At the opening session on July 13 it gaped again to the upside and made it possible, that a wave 1 of 3 has started. In this...
Hello Traders, NIFTY 50 hasn't made any progress the latter week! It moved „sideways“ in a „consolidation mode“! I am not sure about the next move, so I try to show you my thoughts. Using the 15 m chart, I have painted the numbers 1-2-3-4-5 to count the structure. As you notice, the count is not complete, and it is possible, that new lows will occur at Monday's...
Hello Traders, Hang Seng has had 4 strong down days and declined to 28310 (closing). The move as counted at the hourly chart could not be another waves 1-2, becomes it retraced to deep (below the 0.786 Fib). So, the alternate comes to forefront and a wave 2 should retrace deeper to ~28086 level. Closing below 27718 would make the bullish forecast invalid. An...
Hello Traders, NIFTY50 declined to 15729 (weekly close) and is in a corrective mode. The move from the possible wave 3 high at 15901.60 is a wave 4 moves. Either developing as a running-flat, what means wave y will end above the wave w low. Or it will transform as a flat, where waves c=a! The trend for next week should be to the downside, with making N50 new...
Hello Traders, Hang Seng has risen to 29288.23 and has found support at ~ 28282 area (blue trend line) -->Daily chart! A rise above the possible wave ((b)) high at 29490 would open the door to 29620 and 29880. Note the open gap left by trading on March 3rd! This would be closed at 30074.18! It needs a decline below the support area of 28282 to become more...
Hello Traders, N50 has failed to make a new ATH this week. Monday's high was at 15895.75, just 6 points below the high from June 21! The move from the possible wave c of 4 low is clearly a „three-up“! So, either a corrective move or a double 1-2? For short term trading it needs a rise above 15895.75 to stay bullish, and as long N50 is rising within the bullish...
Hello Traders, Not much new to add for Hang Seng! The flag-pattern is dominating the chart since many weeks. All the moves look to me like a corrective, overlapping structure! So, I guess a break to the downside and below 27505 area should not surprise! The more important chart is the daily, where I was counting wave's ((a)) and ((b))! A break of the 27700-27505...
Hello Traders, NIFTY50 has touched the 15400 area at Friday's trading. The low was at 154450.90. This could be all of waves c of 4 (1h chart)! Probably one more low has to occur, before trend reverse to the upside again!? However. At the hourly chart, we can see very nicely the three-wave pattern. It has retraced closed to the 0.382 Fibonacci level of waves 2 and...
Hello Traders, NIFTY50 is moving as forecasted to new high's. The main trend is placed best into a wave (3) of lower degree and could be rise to ~ 16110 area. Short term correction could be of lower degree as a wave 4 for example. Note that wave 4 corrections could take more time. At the hourly chart I have visualized my idea for the coming hours. N50 could end...
Hello Traders, Hang Seng is trading in a flag. Today (2021-06-03) it touched the upper boundary of the channel and reversed. This could be all wave ((b)) and the next move is to the downside, first to the middle line of the channel. A rise above the high at 29405 will weaken the bearish view. At the hourly chart you will observe the break below the rising trend...
Hello Traders, NIFTY50 topped on Tuesday @ 15660 with a bearish candle. Today it opened at 15520 and reversed to close at 15576.20. The picture is not clear as it seams. So it could be, that at yesterdays top a corrective pattern has endet, may be a wave x and the next move is to the downside within a wave y! On the other hand. The decline from Tuesday to today`s...
Hello Traders, NIFTY50 has risen to new high's in the past week. It achieved both, on a closing and an intraday-high! The forecast is still valid, while N50 is on track to 160000 area! On a daily basis I have counted the move from the possible wave z of ((iv)) low at 14151 as waves one and two, where wave two was developing as an w-x-y pattern, a running flat,...
Hello Traders, Hang Seng has traded in a narrow range of 328 point past week! It shows an „inside-candle“! The level of the possible wave ((iv)) area of 27505 is key! (all data at weekly, left-hand chart) On the daily chart (middle chart) you will notice, that HS is trading within the „bearish-flag“, but still rising to the middle line of it! A break of this...