For the first time in a least a year, I am seeing a bullish daily pattern developing in the Chinese stock market.
As posted 2 days ago, the Chinese market was forming a bullish triangle, for the first time in months. Today, it broke above it. This breakout could move their market much higher.
CHN50 - 24h expiry There is no indication that the selloff is coming to an end. Further downside is expected. Short term RSI is moving lower. Risk/Reward would be poor to call a sell from current levels. A move through 11000 will confirm the bearish momentum. We look to Sell at 11100 (stop at 11200) Our profit targets will be 10850 and 10800 Resistance:...
China markets struggling to stay out of bear market territory. They were the first to correct that led to many markets hitting resistance and chop. China has now formed a solid bear Flag. A drop here could have broader global market implications. Always important to listen to the message of the markets and let them tell you what is going on instead of guessing....
waiting for a short setup against China A50 and a long setup on Nikkei 225. Let'see how it goes. Traders who did the Long Japan/ Short China trades last year earned a lot. Will this combo still be the most beneficial trade for equity traders? Currency these 2 economies are gonna cut their rate. The difference is China's gonna cut their rate regardless of...
Looks like a good bottom pattern. 4h trend starts. Decent risk reward ratio.
BEARS BEAR BEARS or should i say PANDA PANDA PANDA nah sounds like desiiigner that being said i see the potentiality of more bears this coming wave considering how i expect more power from dxy soon as u see below usdcny gets stronger HSC weaker and vice versa is true after looking at usdcny im going with the white route And remember kid you can make a million
The past four years have not been friendly to China's economic outlook and the stock market reflects this. Several economic, legal, geopolitical, and social challenges have negatively affected investor confidence and triggered a mass migration of investors out of China. However, China plays a vital role in keeping the global economy running and this will remain...
CHN50 - 24h expiry Buying pressure from 11103 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...
Solid trend reversal signal on a monthly chart being currently tested. Keeping eyes on market open in 1 minute. 1:6 RR - GL :)
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.
#China and #Palladium. Still in the bad zone, has been for a while now.
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...