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Showing posts with label HSI. Show all posts
Showing posts with label HSI. Show all posts

Thursday, July 18, 2013

Elliott Wave Analysis of Hang Seng Index (HSI)

A great looking example of Elliott Wave in operation, and appears to need some finishing touches to the upside into the target area.

With a 5 wave decline, i suspect this is correcting the decline and I am working a 3 wave corrective ABC bounce.

Currently in a small 4th wave of wave [c], so we ideally get a pop inside the next 24-48 hours and setup for a  reversal to retrace the advance and target back under 19500.

A strong clue of a reversal is a move back under 21000.

Rather than try and front run a reversal conservative traders can wait for a pop then a reversal from the red lined area.

Or wait for a strong reversal under 2100 before putting on shorts.

The HSI is a good marker for the ASX, here we can see that they tend to follow each other, so if the idea shown above works out, it should suggest the ASX will follow, which is in alignment with my ideas on the ASX .

Friday, December 21, 2012

Time to get out? (ASX)

With potential patterns on all 3 markets, AUDUSD, HG (Copper) and ASX now met their objectives, we are seeing a reversal in AUDUSD and Copper, the ASX is a little behind the curve, but you can see how the AUDUSD and HG markets tend to give a little warning 1st

So the question is:

Q: Is now the time to get out of Australian stocks?

A: I think the bulls need to think about taking some $$ of the table, having hit my 4650 target, i would be a seller if i owned Australian stocks and take the $$$ and go and enjoy the New Year and Christmas time without any stress

If the ideas change you can always get back in, but you cant get your $$ back if you see a hard sell off and you are not prepared.

The ASX is getting ahead of itself and the patterns from the 2011 lows in many Asian markets are suggesting a setup to reverse, particularly the Hang Seng (HSI), which has a high correlation with the ASX, as does Copper.

The don't ring the bell at the top, but clues from other markets could be suggesting the time has come to take profits and be cautious.

Sunday, December 2, 2012

Asian Markets ASX, HSI, SET100, NIK-225, KOSPI, SENSEX

I have decided to open the Asian forums for the rest of December. Although i never actually offered a service on these markets, they were provided for members as an "add on" to full members (only full members have access). They were generally requests from members.

I tend to update them when something has either negated the idea, or if a market is nearing a suspected conclusion.

Its built up now to around 6 markets from the Asian area.

Markets included are: ASX, HSI, SET100, NIK-225, KOSPI, SENSEX

They are not updated that regularly, as mentioned i don't offer a service for updating these markets on a regular basis (there does not appear to be enough interest), they are generally for swing traders as most of my clients are from the US and European countries so i focus on those markets from the US and Europe.

But i do occasional requests on stocks or other markets if a member requests it.

Click here: http://www.wavepatterntraders.com/forum/59-asian-australian-stock-markets/


Any questions you can contact me via Twitter or email to: enquires@wavepatterntraders.com 

Tuesday, November 27, 2012

Elliott Wave Analysis of Hang Seng (HSI)

A new high is required to complete this idea short term, as i am working a ABC from the September 2012 lows, the very fact that it has a triangle looking shape for a suspected B wave further supports the idea of a corrective advance and once finished should be fully retraced, so targeting towards 1600 atm min, but likely towards 14000

From 24974 i suspect we need to see a 3 wave decline for a larger B wave before setting up for a move higher, as the advance from the 2008 lows appears as a 3 wave advance, in the 24974 so labeled wave A, and now required a 3 wave decline for wave B

Hence we are actually in [B] of larger B, so anew high is all that is required, but there is a target a bit higher towards  22800 before a larger reversal lower towards 15000 which probably takes the best part of 2013

So as it stands it looks like the bears will be in control of the Hang Seng in 2013