Hang Seng Index - Elliot Wave and Fibonacci Ratio
The primary wave cycle of HSI started from 2003-04-05 (8331.9) and finished on 2008-10-27(10676.3).
1. Impulse
Date: 2003-04-05(8331.9) to 2007-10-30(31958.41)
Measuring the bottom and the top of wave [1], we can approximately acknowledge the top of wave [3] by applying the Fibonacci ratio:
8331.9+ (14058.2-8331.9)*2.618 =23323.3534
On 2007-07-26, HSI had touched the trigger point 23323.3534, and retraced back to 19386.7 on 2007-08-17.
2. Correction
Date: 2007-10-30(31958.41) to 2008-10-27(10676.3)
HSI completed its zigzag form of correction during the aforementioned period.
1. 2007-10-30(31958.41) to 2008-03-18(21041.3)
Primary wave [A] with 5 intermediate wave (1) (2) (3) (4) (5)
2. 2008-03-18(21041.3) to 2008-05-05(26387.4)
Primary wave[B] with 3 intermediate wave (A) (B) (C)
2. 2008-05-05(26387.4) to 2008-10-27(10676.3)
Primary wave [C] with 5 intermediate wave (1) (2) (3) (4) (5)
The primary wave cycle of HSI started from 2003-04-05 (8331.9) and finished on 2008-10-27(10676.3).
1. Impulse
Date: 2003-04-05(8331.9) to 2007-10-30(31958.41)
Measuring the bottom and the top of wave [1], we can approximately acknowledge the top of wave [3] by applying the Fibonacci ratio:
8331.9+ (14058.2-8331.9)*2.618 =23323.3534
On 2007-07-26, HSI had touched the trigger point 23323.3534, and retraced back to 19386.7 on 2007-08-17.
2. Correction
Date: 2007-10-30(31958.41) to 2008-10-27(10676.3)
HSI completed its zigzag form of correction during the aforementioned period.
1. 2007-10-30(31958.41) to 2008-03-18(21041.3)
Primary wave [A] with 5 intermediate wave (1) (2) (3) (4) (5)
2. 2008-03-18(21041.3) to 2008-05-05(26387.4)
Primary wave[B] with 3 intermediate wave (A) (B) (C)
2. 2008-05-05(26387.4) to 2008-10-27(10676.3)
Primary wave [C] with 5 intermediate wave (1) (2) (3) (4) (5)
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.