bearish butterfly completed SL:3175 TP1:3013 TP2:2917 TP3:2761 INDEX:XGY0
Reason: third wave is in formation. Closure of the development of this sideways to continue final downmove. Timeframe : Before first week June 2016.
China's stock market can resurgence again? I'm all positions, How about you?
10th of July, downtrend will be over for shanghai A index.
Shanghai class A index is coming to a resistance level at around 3166~3280. It also meets a resistance from the bearish trend line. From EW analysis the previous ABC correction might be part of the DIAGONAL TRIANGLES. It will be a good opportunity to go long after the wave E is finished which might go back to 2650~2750. After finishing the wave E, it might bounce...
The Shanghai Class A index is showing some bearish signals at the moment. Even then, there's still a chance to resume the daily uptrend if price marches back up above the recent 12 bar price level at 3140.86. Ideally, we'd see a loss of bearish momentum in the next 3 bars, and then a breakout to the upside firmly closing above 3232.329 ideally, as the first...
Bounce or die. Seems consolidating as did in the past. Take care. Happy trading.
If bear flag equal leg, can see slightly below 2,000