Hi all,
I posted in mid June that this one is very worth monitoring.
Now, not only it broke the blue line, it also make higher high right after with real volume.
So, it is still fine to follow or if it retrace, just go long.
TraderApprentice PP
QuanTechTrader PP
The China A50 trades within a bearish channel on the daily chart, although we strongly suspect it wants to break out of it to the upside.
If you look at the steady stream of weak data coming out of China over the past few months, why is the China A50 not breaking to new lows? In fact, each time the market has pulled back to the 12,400 area since early June...
DJ News Wire:
The country's top decision-making body signaled it would step up economic stimulus, including possible measures to aid the property sector. The memo released Monday by China's Politburo "essentially acknowledged the current property woes and opened the door further for a policy shift from stabilizing to at least modestly stimulating,"
Hopes for...
Like Hong Kong 50(See the Idea here
bearish start to the week, with hawkish central banks and growth fears continue weighing on investor sentiment ahead of a busy week.
The theme remained the same, with investor jitters over the economic outlook weighing on investor sentiment.
There were no economic indicators from the region to change the mood.
Market...
CHN50 - 24h expiry - We look to Buy at 12425 (stop at 12345)
Bespoke support is located at 12420.
12400 continues to hold back the bears.
Expect trading to remain mixed and volatile.
The medium term bias is neutral.
We look for a temporary move lower.
Our profit targets will be 12625 and 12665
Resistance: 12570 / 12630 / 12670
Support: 12500 / 12480 /...
CHN50 - 24h expiry - We look to Sell at 12720 (stop at 12805)
Buying pressure from 12375 resulted in prices rejecting the dip.
The current move higher is expected to continue.
Indecisive price action has resulted in sideways congestion on the intraday chart.
Preferred trade is to sell into rallies.
Previous resistance located at 12733.
Our profit targets...
CHN50 - 24h expiry - We look to Buy at 12565 (stop at 12465)
Posted a Double Bottom formation.
Neckline support is 12565.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
A lower correction is expected.
Further upside is expected although we prefer to set longs at our bespoke support levels at 12565,...
Hi all,
This might be a good investment opportunity for any of us.
Though we still need to wait, we better start monitor this.
As long as it can break the medium downtrend line, we should get ready to enter long position.
QuanTraderPP
CHN50 - 24h expiry - We look to Buy at 12570 (stop at 12490)
We are trading at oversold extremes.
Short term bias has turned positive.
This is positive for sentiment and the uptrend has potential to return.
We have a 61.8% Fibonacci pullback level of 12570 from 12244 to 13098.
Preferred trade is to buy on dips.
Our profit targets will be 12770 and 12810...
China stocks eased 0.01%, while Hong Kong's Hang Seng Index
HSI opened up 0.3%. China's sputtering post-COVID-19 economic recovery has weighed on stocks, with investors pinning their hopes on more policy stimulus as weak manufacturing and exports hurt the broader outlook this year.
CHN50 - 24h expiry
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
The hourly chart technicals suggests further downside before the uptrend returns.
Further upside is expected...
hello dear trader
this price action of (chinaA50)
FTSE China A50 Index is a stock market index by FTSE Group, the components were chosen from Shanghai Stock Exchange and Shenzhen Stock Exchange, which issue A-share; B-share were not included. Other similar product were CSI 300 Index by China Securities Index Company and "Dow Jones China 88 Index" by S&P Dow Jones...
CHN50 - 24h expiry - We look to Sell at 12650 (stop at 12730)
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...
It seems that the Chinese stock market index is forming a descending harmonic cipher pattern in the one-hour time frame, and therefore it is likely that the rate will increase in an upward rally to the resistance of 13366.
