The China A50 index (CN50) has been trading within a Falling Wedge pattern since July 2022 and more recently in particular hasn't been able to break above the 1D MA50 (blue trend-line) since September 08. That bearish sentiment may be coming to an end as the 1D MACD is about to form a new Bullish Cross in the same order as the November 01 2022 Low.
This could be...
On 4hr chart divergence is forming. I still think it's an opportunity to buy.
RSI on daily chart is 27 - very low.
We might be here for a while because of low volatility during Christmas holiday.
I don't usually trade CHINA50, when it comes to China I prefer HK50, but this is an interesting set up/amazing buying opportunity:
- RSI is very low - 29 on daily chart, RSI was 24 few days ago.
- 11000-11100 is a strong support level. Even in March 2020 the index found support at 11500
- I'm aware of economic situation, but I still believe that recession will hit...
RSI very low
Market record low since March 2020
Fantastic opportunity to buy, TP 11700-11750 max - anything above this in my opinion is risky
This is not a trading advice. Always do your own analysis before entering the market.
To summarize:
1. We are currently in the 5th wave down. The last wave.
2. Potentially a sharp drop for the last 2 weeks of Dec 2023.
3. Price might follow the same pattern as Dec 2018.
4. Target 10130-10145.
CN50USD - 24h expiry
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
Posted a Bullish Hammer Bottom on the 4 hour chart.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
Although the anticipated move higher is corrective, it does...
CHN50 - 24h expiry
Buying pressure from 11171 resulted in prices rejecting the dip.
The current move higher is expected to continue.
The bias is still for lower levels and we look for any gains to be limited.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Further downside is expected although we prefer to...
No matter how much China is trying to support its markets, whether it is monetary or fiscal stimulus measures in recent months, the equity markets have been very weak. Today's EDGE chart of the Day is the China A50 is a stock market index by FTSE which illustrates how weak some of the top A share stocks are in the Shanghai and Shenzhen exchanges are. We are...
Sometimes simple is best. And we may have found a simple setup on the China A50 index.
Sure, the daily chart remains within a downtrend, but it shows the potential to extend its countertrend move higher by at least one more leg in our view.
The index saw a decent rally from the 11,600 area before retracing 50%. A 3-bar bullish reversal pattern has formed...
the detail is shown in the above Idea.
I made this Idea based on Candlestick Analysis and Fibonacci Tool.
buyers are burned in black rectangle (0.5- 0.618 golden level retracement )
therefore we can expect that CHN50 index decrease step by step to 1.27 F or 1.618 F.
CN50USD - 24h expiry
Buying pressure from 11908 resulted in prices rejecting the dip.
The current move higher is expected to continue.
Short term bias is mildly bullish.
The trend of higher lows is located at 11908.
Preferred trade is to buy on dips.
We look to Buy at 12035 (stop at 11985)
Our profit targets will be 12155 and 12195
Resistance: 12245 /...
The China A50 index (CN50) is trading within a Falling Wedge pattern and on the larger picture a Channel Up with its Higher Highs being on June 09 2015 and February 16 2021. The price is now closer to the Channel Up bottom and the pricing of a new long-term Higher Low (bottom), which already makes it a great buy opportunity. Of course the most optimal level to...
The China A50 index reached today the LH trendline of the August 1st top and turned neutral on the 1D technical outlook (RSI = 50.831, MACD = -120.000, ADX = 25.828). The 1D MACD Bullish Cross that was just formed on such a low level, makes the third time this year but we need further confirmation to buy for an extension as the March 23rd Bullish Cross failed to...
CN50USD - 24h expiry
Buying pressure from 11548 resulted in prices rejecting the dip.
The current move higher is expected to continue.
The bias is still for lower levels and we look for any gains to be limited.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Further downside is expected although we prefer...
CN50USD - 24h expiry
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
A higher correction is expected.
The bias is still for lower levels and we look for any gains to be limited.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Further downside is expected...
CHN50 - 24h expiry - We look to Buy at 12340 (stop at 12220)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
Price action looks to be forming a bottom.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
Indecisive price action has...
CHN50 - 24h expiry
Selling posted in Asia.
We are trading at oversold extremes.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
The current move lower is expected to continue.
Previous support located at 12279.
Although the anticipated move higher is corrective, it does offer ample...
