The Chinese index may not have reached the BOTTOM yet, from a technical point of view, a wave (5) is working with TARGET around 10,600. With this in mind, we will try to take a short position as shown on the H1 chart. If you think this analysis can be useful and you want to receive new updates about this idea, leave a your comment or your LIKE! Thank you for...
On Friday the 3rd August 2018 Chinese stocks ceded their ranking as the second-largest equity market in the world amid an elevation in trade tensions after the Trump administration said it was considering increasing the initial proposed tariff. Buying the dip: Considering Chinese markets are at almost a one year low and under a temporary trade war, a knee jerk...
China SH composite is approaching 2016 low at 2638. Adding the background the BOC raised the forward reserve requirement for foreign exchange and RMB surged. If look at the down side, 70 pips to drop/-2.5%, will possibly see a resistance showed at the 2016 retracement low @ 2638. Personally also considered it as the psychological support of investors. Hope the...
All explained in detail on the graph but the simplification of the economic dynamic: Major world market index over the last 12 Months have been highly correlated with BTC (exceptions do take place). On Friday the 3rd August 2018 Chinese stocks ceded their ranking as the second-largest equity market in the world amid an elevation in trade tensions after the...
Hang Seng index has been correcting since late January along with other stock markets. I consider the first drop to 29000 levels as wave A, the later triangle pattern as wave B and the latest break of the triangle as Wave C of the Eliott wave ABC pattern. IF this wave count is correct, then Hang Seng could drop to 24000 levels in Wave C (if wave C = 1.62 times...
the Chinees markets took a step back cause of trumps extra tarrifs on chinees products. in the coming week the chinees president is going to meet up with Kim Jung Un that should be good news!! also the RSI on the 4 hour charts is real low and is starting a rebound. good luck!!
Potential Short Setup. 1. Rising wedge Awaiting 2. DESCENDING Triangle. Wait for the breakout from DESCENDING Triangle before taking SHORT position. PS: Ignore typo - I actually meant 'Descending Triangle' on the chart.