HK50 Wave Analysis The following is a wave analysis of HK50 from the recent swing low of 10th March 2022.
We can see price move off a Double Bottom around 19100 and reach a high at 22300.
This uptrend can be classified into 6 waves - from start to finish of V, I,N,I,N,N.
The downtrend had commenced on the 9th of June , and price can be seen to have developed 3 waves - V , I , N.
The Kihon Suchi time periods seem to reflect nicely the wave durations - 9,17,42.
If the downtrend were to continue and see a complete reversal of this index to the prior swing low, then maybe a mirrored price, wave and time interval could be suggested.
A fourth wave as an I wave down would complete a possible H&S pattern. This is the wave structure that is presently been watched for.