HANG SENG : PULL BACK

  Jason Parker    
  Asian Indices
Just as we expected, the impulsive / pushing wave is over.
Now, Hang Seng PULLING BACK through the Elliott corrective wave, The 5 DAYS short term of Elliott wave is done.

The next destination is the resistance, which located at 20400.
 
The Classic Elliott Wave pattern of 5 waves identifies for us the path for the Hang Seng, which will stop the fall at the support line, located below 19237 points. After that, the Hang Seng will climb and pull back to close the open gap, located at 20440.


After the arrival of the index next destination which is resistance, will come back the pushing wave and push the index to the bottom.
 
This bottom serves as a strong support and shall create a double bottom.
 
Usually after the creation of the double bottom, begins a wave of rising.
Of course there is always the possibility for further declines, so if you'll be in a position - This struggle will require vigilance from your side.
 
Long story short, now is the time to open a LONG POSITION.
 
Stay tuned!





Jan 19 , 5 days ago:

Hang Seng Jan 19


 
Traders that follow and trade using our published signals, could have retired long ago!

For those who have not yet managed to implement any signals, or are just now joining us, we take it a step forward and update the Hang Seng signal with a complex pattern which not everyone can predict.

The Elliott Wave Theory (also known as the Elliot Wave Principle) was originally developed by Ralph Nelson Elliott during the 1930s, as a tool to predict fluctuations in stock market prices. Over time, the theory has been applied in other markets, primarily in the foreign exchange market and, of course, its fits well in very liquid markets such as Hang Seng Index.

We have applied the classic Elliot Wave Principle, which is comprised of five impulsive/pushing waves and three corrective waves, on the Hang Seng Index in the above chart.

The Classic Elliott Wave pattern of 5 waves identifies for us the path for the Hang Seng, which will stop the fall at the support line, located below 19237 points. After that, the Hang Seng will climb and pull back to close the open gap, located at 20440.

This line would serve as a resistance line and will push the movement down to the last bottom, which is located around 19237 points.

Stay Tuned!