we can see how the two markets are related simply by placing them on a single chart.
then we can try to determine what would be the most likely cause(s) for the evident correlation.
there is the common factor of the US dollar index both in terms of CHINA 50 given in terms of USD as well as in the base currency of BTC, the US Dollar.
F. Normandeau
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!!
This is a classical setup, when the A wave is forming an ending diagonal to start the B wave. If we look at the current structure on the lower time frame it's forming a correction we could potential break out to the upside although i think it will touch the trend line then reverse to complete the ending diagonal, we can trade current correction up then the move...
In a nutshell:
Idea is based on the current Momentum and...
...decison of PBOC not to increase interest rates and...
...additional US import tariffs on Chinese gods (USD 50bn); TBC
Trade range within the existing triangle
Keep an eye on the trade volumes (support gets lower around 12,050); would not expect an immediate break of the support, but the...
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.
My friend recently mentioned that China A50 is a strong buy and that prompted me to look into the chart. Indeed, China A50 is really a strong buy - and we are now still at the beginning stage of a new wave up. Note that China breakout is also confirmed by major equities markets breakout like S&P and Nikkei.
We should look at the development in China stock market.
When many people are still in denial stage, we have hit our first TP.
It is due for a decent continuous sell down.
For now, it may rebound back up to 13,221 level but it shall go down a lot further.
I am looking for short only at this moment.
Trade Safe
s0nic
Disclaimer:
The information contained in...
Whilst 11900 longer term uptrend holds on a closing basis then market remains neutral/positive but if that level gives way not much by way of next level support until perhaps 10600
A pretty simplistic count of the China A50 but it sure is a bleak one, for the bulls anyway. If the index breaks down below the yearly pivot I might take this count more seriously as it has the potential to fall a long way. Some pretty obvious things to note are the double top and reversal on the Yearly R1 pivot.
China Market is in the strong pull back mode. It seems to have excess to be trimmed.
I am expecting it will go to 13,221 level easily.
BEAR for now.
Trade Safe
s0nic
Disclaimer:
The information contained in this presentation is solely for educational purposes and does not constitute investment advice.
The risk of trading in securities markets can be...
China A50 index is the top 50 largest listed companies on Shanghai Stock Exchange. Chart shows there is still 15% down space for adjustment for pulling the price back to 12% annual return roadway.
