Hello Traders,
Hang Seng start the week with a gap up, that has been closed immediatly after it was opened. The structure of this move, started at the high @ 30232.83, is a „three-down“, indicating a „expanding-flat“, which would make the move from 28435 -30232 a wave „i“ and the following correction a wave „ii“ of Micro degree.
If so, the next will be a massive run to new highs in a wave „iii“, always the strongest wave in an impulse move.
In line with this possible move is that Hang Seng Vola is dropping down to a level of 15.35 today.
Note that the pullback from 30232 – 29665 was just a 0.236 Fibonacci, which is normally to shallow for a wave ii of any degree, but still valid.
So I think that any decline below this low is still in line with a rally, as long as the level of 29427 is not touched. At this level wave „c“ of ((2)) would extend wave „a“ of ((2)) more than a 1.618 Fibonacci, which is still allowed, but rarely the fact.
We will discuss any change of movements here at this pages.
Have a great week...
ruebennase
Feel free to ask or comment.
Trading this analyze is at your own risk!
Hang Seng start the week with a gap up, that has been closed immediatly after it was opened. The structure of this move, started at the high @ 30232.83, is a „three-down“, indicating a „expanding-flat“, which would make the move from 28435 -30232 a wave „i“ and the following correction a wave „ii“ of Micro degree.
If so, the next will be a massive run to new highs in a wave „iii“, always the strongest wave in an impulse move.
In line with this possible move is that Hang Seng Vola is dropping down to a level of 15.35 today.
Note that the pullback from 30232 – 29665 was just a 0.236 Fibonacci, which is normally to shallow for a wave ii of any degree, but still valid.
So I think that any decline below this low is still in line with a rally, as long as the level of 29427 is not touched. At this level wave „c“ of ((2)) would extend wave „a“ of ((2)) more than a 1.618 Fibonacci, which is still allowed, but rarely the fact.
We will discuss any change of movements here at this pages.
Have a great week...
ruebennase
Feel free to ask or comment.
Trading this analyze is at your own risk!