sumastardon
Long

Hang Seng Index: Positive to 28017 on a break above 26770

HKEX:HSI1!   HANG SENG INDEX FUTURES (CONTINUOUS: CURRENT CONTRACT IN FRONT)
Hang Seng Futures HSI1!
Next Long Set-Up
This index made a neat exit of the upper parallel - followed by a pip perfect retest of the same line before reversing higher again to test the first line of resistance at 26764, failing just below here after an intraday high at 26694 on futures .

The 26770 level is looking increasingly significant. A break above here should be worth following for close to 5% upside to 28017.

This index really needs a stop of about 100 points - 3 times more than the Dow although they are both the same price pretty much.

It's just the way it is.
So a break above 26770 will need a stop 100 points lower at least, and really it should be under the 26588 level, which is over 180 points of risk against 1200 points of reward.

The range between 26764 and 26588 is creating whipsaw - it's effectively a small band of uncertainty which may crreate a little more whipsaw around the open. But once it's shown it can overcome 26770 it should be worth following long - but be careful with the stop if trading this one.

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Help Center Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out