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Update of Hong Kong Hang Seng Index Analysis
August 4, 2015 Hong Kong Hang Seng Index
Further to last week analysis, overlay of Gartley Strategy for price action near top. For Hang Seng the sell may be over. However, the price action still resisted by River, and River still point down at 4 o’clock direction – still bearish bias.
False signals
Be aware of false signals. Like any forecasting algorithm, either River or Gartley can generate false signals. A false negative, for example, would be a bullish bias truely. A false negative would be a situation where there was price action below River, yet the price action accelerated suddenly upwards.
A prudent strategy may be to apply a filter, wait for confirmation.
Analysts use a variety of approaches to filter out false signals and confirm true ones. In our case, we look out for price action near support and completion of bullish chart pattern.
August 5, 2015 Hang Seng Index
Thanks for visiting the website.
Moses
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