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 below the wave ((3)) low @ 23124! One cited target area should be around 22505. A break of the 23258 level would strengthen the odds for this view.
An extension of the countertrend could lead into a pattern of an a-b-c-X-a-b-c-pattern, that should end below the possible wave i low @ 24213!
Have a great week...
ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
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 below the wave ((3)) low @ 23124! One cited target area should be around 22505. A break of the 23258 level would strengthen the odds for this view.
An extension of the countertrend could lead into a pattern of an a-b-c-X-a-b-c-pattern, that should end below the possible wave i low @ 24213!
Have a great week...
ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!