Since March 5, HK50 has been ranging between 16122 to 17101. This is mostly due to the lower volume of trade. Last week it looked like we might finally see a break thru between range; however, it still failed to close below 16122 level.
This week, overall, I am bearish for HK50. However, watch out for the first day of spike up to grab more liquidity. Once the 4h candle starts to close below 16122 level, I will comfortable to enter sell, TP can be roughly 15700 level.
As for buy, it might be little bit tough as we are now forming a lower low low high pattern. Thus, I will need more confirmation before I can enter a buy.
This week, overall, I am bearish for HK50. However, watch out for the first day of spike up to grab more liquidity. Once the 4h candle starts to close below 16122 level, I will comfortable to enter sell, TP can be roughly 15700 level.
As for buy, it might be little bit tough as we are now forming a lower low low high pattern. Thus, I will need more confirmation before I can enter a buy.