Sell trade opportunity on the China A50 Index
Despite awful fundamentals,China A50 has broke that long overdue Asymmetrical Triangle and headed north.
Read article here If we look at the chart, we can see that CN50 has break out of the resistance in 2015 at 14,828 on 7 Jul 20 and is now at 15,146.40. From a technical perspective, those who had followed my post here can consider take partial/full profits and let the remaining units run. The key support at 14,969.70 now is crucial as it indicates the future...
Whether we like it or not, behind every decision we made, be it trading or in other aspects of your life, our decisions are always based on a set of emotions. Reasons offer a false sense of control of the situation. We do things because it gives us pleasure (love, being accepted, respected, etc) or if it avoids pain (stress, anger, regrets, anxiety, feelings of...
The China 50 took off like a rocket, leaving behind the DJI and other country indices. This is the CN50's biggest rally in a year. State media agencies talked up the index promising a post-coronavirus boom. Then the China Securities Journal made similar promises. This caused an almost 6% charge north in one day! However, there did not appear to be significant...
Do you love money ? I think you and I do but the Chinese really loves money. Two things that really make them rich, I mean filthy rich in China. One is property and the other is the stock market. And they are risk takers though not necessarily prudent in managing risks. They do not hold back when they think or feel this is the time to go all in. Read article ...
It has reached a high of 13,942 from 8 June to 24 June without able to breakout higher. This calls for a short term sell opportunity. Expect it to break down from the bullish trend line and heads towards 13,337 over the next few weeks. This discount will present a great buying opportunity for those who have yet to come onboard China index.
After three days with the position placed, the price finally is moving downwards. Price action reached a level where I usually close half of the position running and move the S/L to BE. To what is known as a "risk-free" trade. Will keep a close look to find a better place to trail de S/L. I will keep the comments as a trading update.
CHINA A50 found rejection from a critical resistance level from the ascending channel. Price action making a tweezer top candle. MACD is showing diminished bullish momentum, together with a clear divergence for confluence on the bearish bias. Price in consolidation. The order: Type: sell-stop. S/L: 20 pips - R:R | 1:2 - T/P: aiming to the next supply zone +...
You've been told! Get ready. There is trouble in this heading south more likely, than not! Reliable sources in non-mainstream media are picking up the second wave of a virus outbreak in China. This is not fake news! The re-opening (or partial re-opening) was actually fake news. Facilities were actually being built to accommodate more sick and dying people. ...
Chinese stock markets still open today. Lots of indecision at this level but looks bearish to me. Trade the breakout either way.
now perform the w-x-y wave the y wave have complete the b wave now perhaps perform the c wave target see the upper line and the 100% w wave
If this level is cleared, then we have a higher chance of seeing it closing the gap (see triangle) which has yet to be filled up. Think about it , China in a way has to thank Covid-19 as after it has manage to contain the virus issue, it is now becoming the go to expert in terms of medical supplies. That brings jobs and opportunities to the people of China who...
The next wave about to begin down in China? For obvious reasons this is a nice risk reward setup.