Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Technical Analysis
Elliott Wave Analysis by EWF
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="Elliottwave-Forecast, post: 191862, member: 40858"] Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of Hang Seng ( $HSI-HKG), published in members area of the website. As our members know, the index is showing impulsive bullish sequences. We've been calling rally in Hang Seng , recommending members to avoid selling in any proposed pull back and keep buying the dips in 3,7,11 swings. Recently Hang Seng made pull back that has unfolded as Elliott Wave Zig Zag pattern . In the further text we are going to explain the Elliott Wave Pattern and Forecast Before we take a look at the real market example, let’s explain Elliott Wave Zigzag. [B]Elliott Wave Zigzag[/B] is the most popular corrective pattern in Elliott Wave theory . It’s made of 3 swings which have 5-3-5 inner structure. Inner swings are labeled as A,B,C where A =5 waves, B=3 waves and C=5 waves. That means A and C can be either impulsive waves or diagonals. (Leading Diagonal in case of wave A or Ending in case of wave C) . Waves A and C must meet all conditions of being 5 wave structure, such as: having RSI divergency between wave subdivisions, ideal Fibonacci extensions and ideal retracements. [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/02/ZIGZAG-Vlada.jpg'][IMG alt="Hang Seng"]https://elliottwave-forecast.com/wp-content/uploads/2021/02/ZIGZAG-Vlada.jpg[/IMG][/URL] [HEADING=3]Hang Seng Elliott Wave 1 Hour Chart 1.31.2021[/HEADING] Hang Seng remains bullish against the 26004.5 low in first degree. Short term pull back is unfolding as Elliott Wave Zig Zag pattern with inner labeling: ((A))((B))((C)) black. We can see that waves ((A)) and ((C)) shows impulsive 5 waves structures which is characteristic of Zig Zag Patterns. Pull back has already reached its equal legs zone at 28666.9-28075.9 area and we can see turn any moment . We favor the long side from the mentioned zone. As the main trend is bullish we expect buyers to appear for 3 waves bounce at least. As our members know, Blue Boxes are no enemy areas , giving us 85% chance to get a bounce. [I]You can learn more about Elliott Wave Double Three Patterns at our [B]Free Elliott Wave Educational Web Page[/B].[/I] [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/02/Hangseng-31-January-1-Hour-weekend.jpg'][IMG alt="Hang Seng"]https://elliottwave-forecast.com/wp-content/uploads/2021/02/Hangseng-31-January-1-Hour-weekend.jpg[/IMG][/URL] [HEADING=3]Hang Seng Elliott Wave 1 Hour Chart 2.02.2021[/HEADING] The index found buyers at 28666.9-28075.9 buyers zone- the Blue Box area. We got nice reaction from there so far. Pull back ended is counted completed at 2876.5 low as Elliott Wave Zig Zag Pattern. As far as the price stays above that level, we expect to see further. However we would like to see further break above ((5)) peak to confirm next leg up is in progress. [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/02/Hangseng-2-February-1-Hour-London.jpg'][IMG alt="Hang Seng"]https://elliottwave-forecast.com/wp-content/uploads/2021/02/Hangseng-2-February-1-Hour-London.jpg[/IMG][/URL] [HEADING=3]Hang Seng Elliott Wave 1 Hour Chart 2.02.2021[/HEADING] Eventually we got rally toward new highs. The index is now bullish against the 28259 pivot. We expect it to keep finding buyers in 3,7,11 swings ideally. Keep in mind that market is dynamic and presented view could have changed in the mean time. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the [B]Live Trading Room[/B]. You can check most recent charts in the membership area of the site. [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/02/hang-seng-2.18..jpg'][IMG alt="Hang Seng"]https://elliottwave-forecast.com/wp-content/uploads/2021/02/hang-seng-2.18..jpg[/IMG][/URL] [B]Elliott Wave Forecast[/B] Source: [URL]https://elliottwave-forecast.com/elliottwave/hang-seng-hsi-hkg-buying-dips-elliott-wave-zig-zag/[/URL] [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…