Chart pattern is having multiple forms. you see patterns from daily, weekly and monthly.
Chart 1, daily here, $180 upside from $1340, $1520
Chart 2, monthly, $300 +1340, $1640. if it runs twice, it'll be $1640+300 = $1940
buy anywhere from here, at least $1500!
Last wave, I have an additional view. from $395, there's a $39 drop and a gap down with another $39 drop to the bottom.
this time, top at $345, I've already short on 340. so, today, I'm positive a little on hand and opening this idea.
Let's say $345-$39, it'll be around $306.
If you check my last post, you should see the target 2(or B, I forgot what I called...
Idea, everything start from small, looking at an ABC pattern drop.
Target last Low(2801), should be there next week.
Target A, this is the same distance it ran from last low:2801 to recent high:2892 about 91 pts. so, 2801 - 91 pts, is around 2710.
Target B, this is the same distance it ran from all time high:2954 to last low 2801 for about 153pts. so 2801 - 153...
Idea, Wave ABC, we're finished B trace back and now heading up for C to about USD1400
Wave A: 2018 Nov 13 @1196.46 to 2019 Feb 20 @1346.75 for a total of USD150.29
Wave B bottom @1266.42
Wave C = USD1266.42 + USD150.29 = USD1416.71
Note: this isn't a prediction of exact point, a range of +/- USD15 should be consider as target...
Idea: we see 700 top at HKD$395 on May 8, and 4 days later it dropped HKD26 in total, bounced up and wasn't able to bounce back up above EMA30.
as drop ABC, where A is $26, and C expects another HKD$26 drop from May 15 @$378.4 to HKD$352.4
idea, Simple A B C
since HSI dropped broken the 2019/3/8 starting point of 28201, I used 2019/5/3 @30081 as starting point and end on 2019/5/9 @28311 for a total of 1770pts
this 1770pts as A and the C set as the line of 28300. the market sometime jump up or down, but I just use this simple point as starting.
The idea is predicting a range of target, not exact...
to make it simple, using weekly chart and we see a C bounce up to around $54 in the next 6 weeks. However, the monthly 30 EMA is seating on $52.60 this month, don't expect the C bounce back over this.
so, to make this short
Long now, target $52.60 or less in 6 weeks.