Hello Traders,
Hang Seng has touched the lower boundary of the channel and bounced to the upside (@ 26668) and pulled back again. The overall development from the high @ 27040 does not look complete and my mentioned target (@25484 is still valid!
In this case, the odds would favor a wave ((iv)) and after impulse within a weave 5, that develop as a 1-2-3-4-5 would be next.
Any break of the wave ((i)) high @ 24970would alter the count, `cause wave ((iv)) would break into the territory of wave ((i)).
Keep in mind, that every 1-2-3 could be a wave a-b-c (w-x-y)!
Have a great Sunday.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
Hang Seng has touched the lower boundary of the channel and bounced to the upside (@ 26668) and pulled back again. The overall development from the high @ 27040 does not look complete and my mentioned target (@25484 is still valid!
In this case, the odds would favor a wave ((iv)) and after impulse within a weave 5, that develop as a 1-2-3-4-5 would be next.
Any break of the wave ((i)) high @ 24970would alter the count, `cause wave ((iv)) would break into the territory of wave ((i)).
Keep in mind, that every 1-2-3 could be a wave a-b-c (w-x-y)!
Have a great Sunday.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!