According to the theory of Fib Retracement ,
Wave 1's retracement is around 38.2%(from Aug 2018 to May 2019)
Wave 2's retracement is around 38.2%(from May 2019 to Nov 2019)
Therefore, Wave 3's retracement should be also finished on 38.2%, it is around 1598-1602
It also lays on two uptrend support predictions.
However, if the price go down and break 1600...
HSI touched 78.6% Fibonacci retracement and go down. It is expected that the index will replace the gap from 2019 mid Dec around 27000. The next support will be on 50 days MA and 250 days MA.
Form the GBPUSD daily chart, it is found that a completed down trend have been finished with the Elliott's Wave Principle. It is implicated the lowest of GBPUSD appeared in the early September 2019. From the lowest point to draw a support line, it can be found the neutral support will be lined around 1.275-1.280. It is suggested to hold GBP in neutral to long...
