TA for SSE (Shanghai)

Wave For Shanghai SE,

In my blog, I try to give you another prospective on traditional charting on Wave theory. As mentioned before, highly subjective and depends on which school of taught that you have learned and apply. In my blog, I research more on Main Wave Theory (which was generalised by all Wave experts) and I incorporated Fibonacci Retracement for the guidance of Main Wave Movement and Retracement movement.

In my week update (requested by viewer), I update the Wave for Shanghai SE index. Where is the Wave direction? 12345 or ABC?

Clearly, it is in Wave 2 (upward trending) but hitting the Support (half way - retracement line of 78.5% or 2574 support). It is definitely not like those of HSI and S&P 500 (downward - Wave B) movement.

In Wave theory, downtrending wave formation is fast and furious. Upward is an long, slow and uphill task.