Hello Traders, my latter call for a countertrend in Hang Seng was to early. It took some more down-up sequences to complete the structure of a wave ((3)) decline. This structure was done on September 25 @ 23124.30. Then, the countertrend did occur and push HS to a high @ 23780 area. Today`s decline should be part of wave ((v)) which will bring HS to fresh new lows...
Hello Traders, NIFTY 50 has advanced into the cited target area of 11259. Todays High was @ 11305.40, the a/d-ratio closed at 0.78. Today`s high retraced a 0.618 Fibonacci of the decline from 11618-10790 what would strengthen the odds, that not a wave 4 was done today, but a wave 2 is done or close to do so. So the next potential move should be to the downside...
Hello Traders, XIAOMI, the Chinese electrics company went public in August 2018 (longest available chart history)! After a good start, the stock fell hard from a top @ HK$ 22.20 to a low @ HK$ 8.28, build a weeks-long bottom, and reversed trend after in a strong advance. This formation looks to me as a „cup and handle“-pattern, with the handle to develop. If so to...
Hello Traders, yesterday's decline finished a wave ((5)) of iii @ 10790.20. Today`s advance is part of a wave iv of lesser degree and should develop into a flat, a variation thereof, or a triangle. The latter opportunity will give a good forecast of what should be next. While a triangle is always a pattern, that leads to a final „thrust“ of this pattern, we would...
Hello traders, NIFTY50 gaped down this morning, closed the day @ 10821.35, intraday low @ 10794.40. This level is just 14 points above the area, were wave c is a 1.382 Fibonacci Extension of wave a. So it could be that the decline is initially done for short term or it needs one more down sequence. Any extension of the weakness would lead N50 to the level...
Hello Traders, Hang Seng declined too, today`s low @ 23560 could be a wave 3 of an impulsive move. If so, the next move is countertrend and develop as a „three-up“. A possible target range is at or around the 23900 level, were an open gap is left at chart and above to 24036 area, the 0.382 Fibonacci of the decline. On rule for Elliott wave is, that a wave 4 can...
Hello Traders, NIFTY50 declined to an intraday low @ 11024.40, in line with my forecast. It also touches the down-sloping trendline of the LDT-pattern, which connects waves 1 and 3. From here N50 rebounded. This rebound could be a small fourth wave of lesser degree which would lead to the area at or around 11251-11259. Here a wave 4 and the 0.382 Fibonacci of the...
Hello Traders, BYD made a low on the week of March 23 in 2020 @ 33.5 and advanced strongly since. This low could be a wave „((X))“ with a wave „((Y))“ to follow. Why do I think that? Well, the first leg of advance, starting end of September 2005 is clearly a „three-up“! This indicates a „corrective“ advance as I mentioned before. The move that developed from the...
Hello Traders, NIO topped on September 02 (intraday @ 21.03) and declined to 15.62 to finish the move in an a-b-c pattern. The move since that low could be a series of „one`s and two`s“ within the final move in wave 5. If so to come, a possible target range could be around the 26.23 area, where wave 3 is the 1.618 extension of wave 1. As to observe on the weekly...
Hello Traders, at my latter analysis I wrote this: „If the upward push is not complete, and HS need some more up-divisions, a target range should be at or around 24830-24852 level were the move has to retrace a 0.382 Fibonacci of the decline from 25847 and it is the 1.382 Fibonacci extension of wave „a“. Exactly this scenario played out after. Hang Seng achieved...
Hello Traders, since my latter analysis, N50 declined to 11515.90 on September18! This move should be part of acceleration on declining prices in the coming days. A push above the level of 11618.10, the high on September 16 should lead to a higher level, maybe around the 11767.30 area. From this level, a change of trend needs to occur, to keep this analysis...
Hello Traders, the high on August 31 (@11794.25) is wave 5 of (Y) of ((2)). It completes a countertrend rally from the March lows @ 7511 (intraday low) and 7801.05 (closing price)! The next waves should draw N50 to 10882.25, a wave 4 of two lesser degrees. More bearish potential exists! Any push above the August 31 high make this forecast invalid and tells us,...
Hello Traders, NIO, the Chinese EV-maker is moving sideways since it made a high @ $21.03 on September 2! The structure since the low @ $15.62 shows overlapping moves, indicating a corrective, upside countertrend. NIO can move for some more hours within the trend channel (blue lines) to higher prices still. But a break of the lower boundary @ ~$17.- area on an...
Hello Traders, the weakness for NIFTY 50 since the high @ 11794 is so far a „three-down“, indicating either a flat is done @ 11185 and the next significant move is to new highs above the 11794 level or the „correction“ will extend into next week. On the 15 min chart (left-hand corner) you can see, that @ 11251 N50 has finished a wave „(i)“ of lesser degree, and...
Hello Traders, since my latter analysis, Hang Seng has declined nearly 1000 points but failed to show an impulsive decline. The move since yesterday's low @ 24220 is either a small „three-up“ that is complete or it is part of a larger structure with higher price to come in the next hours. In the first case, HS will decline in the coming session to lows below the...
Hello Traders, one lower low was to come for NIFTY 50 after my last analysis. It declined to 11251.70 to complete the first „five-down“ of wave 3. The countertrend after that move is clear three waves, and is either all of wave (ii)) or it is wave „a“ of (ii)). You can observe that the countertrend finally terminates in the range of a wave „4“ of lesser degree....
Hello Traders, NIO made a new high at 21.03 on September 2, just 6 Cent above the August 26 high! It declined since then in a „three-down“ which has to develop into „five-down“ to become an impulsive structure and make it possible to call out the end of an impulse! A break of the 18.36 level (arrow) should imply that more selling pressure has to come and NIO will...
Hello Traders, NIFTY50 topped on August 31 @ 11794.25 and closed the day lower with a loss of 260 points (intraday basis) It left a „bearish-engulfing“ at chart and the three following trading days, the marked could just retrace shy above the 0.5 Fibonacci of the decline. Today N50 gaped to the downside and made new lows below the August 31 low. This is a bearish...