Hello Traders,
Hang Seng set a gap-down this morning and made an intraday low @ 27925.62, closing low at 28097.76!
While the strucure of this decline is a „five-down“, of cours it is possible to count a complete wave „v“ of ((y)) that finished either wave „a“ or it is all of the correction within a wave ((ii))! A close of the open gap @28600 is a strong hint that the correction is done.HS has also retraced a 0.382 fibonacci of the advance from 24896, which, at strong markets, sometimes is adequate for a wave „ii“ correction.
On the other hand. Any decline below todays low at 28072 and the intraday low at 27925 will open the door for the alternate interpretaion of the wave structure.
This means, that a series of „one`s and two`s“ is underway and it has the necessity to switch the count from corrective to impulsiv down.
As the week progress, the more possibilities will be eliminate by traders behavior.
We will discuss any news 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 set a gap-down this morning and made an intraday low @ 27925.62, closing low at 28097.76!
While the strucure of this decline is a „five-down“, of cours it is possible to count a complete wave „v“ of ((y)) that finished either wave „a“ or it is all of the correction within a wave ((ii))! A close of the open gap @28600 is a strong hint that the correction is done.HS has also retraced a 0.382 fibonacci of the advance from 24896, which, at strong markets, sometimes is adequate for a wave „ii“ correction.
On the other hand. Any decline below todays low at 28072 and the intraday low at 27925 will open the door for the alternate interpretaion of the wave structure.
This means, that a series of „one`s and two`s“ is underway and it has the necessity to switch the count from corrective to impulsiv down.
As the week progress, the more possibilities will be eliminate by traders behavior.
We will discuss any news here at this pages.
Have a great week...
ruebennase
Feel free to ask or comment.
Trading this analyze is at your own risk!