depending on market structure the price is broken the important levels on 4H TimeFrame, when the correction occurring at level 16744 will put a position at level 16621 and the first target at 16320 with suitable stop loss level.
Based on my previous monthly chart, the trend has bottom at the hidden lines, and now switching to weekly chart, the trends has hit upper resistance.
It may be a breakout for HSI to pursue further uptrend if it can maintain above the resistance line.
If referring to Daily chart, the price is almost hit MA200, further up will test resistance at 18100.
TVC:HSI Looking like it will finally break above $17000 on weekly close and make a run to $19,000.
Watch NYSE:BABA $KWEB. Both of them are at the critical pivot area.
China's inflation data Yesterday was not good, but the index shrugged it off. It is a sign that the market might be thinking China has bottomed.
HK33HKD - 24h expiration
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
Trend line support is located at 16530.
Preferred trade is to buy on dips.
Trading within a Corrective Channel formation.
Risk/Reward would be poor to call a buy from current levels.
50 4hour EMA is at 16720....
This week has been a really slow with no clear direction. It closes with a doji candle.
For this week trade idea, It will be roughly the same as last week. Buy above 17101 and sell below 16127. If you want a more aggressive buy, depends how the first 4 hr candle closes, buy above 16906 is also a choice.
We are at a decisive point here as the drop has been at an important support. If it continues to break, we will continue with the downtrend. But the uptrend scenario is still the preferred one: with the leading diagonal and a 3-wave correction. If the bullish scenario is correct, we should have a strong bounce from here. Once it breaks above the resistance, we...
Here is a perfect SELL opportunity for the HK50... You can see the market has not broken pass the trend line to the upside for over ONE YEAR!
The other support trend line has been broken which indicates that the market will continue to head towards the downside...
The current price also rebounded off the 61.8 fibonacci level which is a huge sign that the HK50...
March has been a slow and low volume month. Looking for a weekly chart, we are ranging between 16773 and 16334. There is no clear sign of break thru to the upper or lower side.
For this month trade idea, I will set the range between 16127 and 17101. Once the daily start to close firmly above or below these two level, depends on the candle structure, we can then...
The Hang Seng is nearly unchanged from where it started the year. Some of the strongest gainers of the index in recent days have been JD and Meituan. However, Tencent Holdings, by far the largest constituent, is down around 20% since January. The latest earnings season in China wasn’t stellar although negativity has arguably been overstated in some media this...
I've published the short idea for HSI on 18th Mar and this is how it has gone since. I've updated the counts to what I think are the waves that unfolded since. Simply put, the next move is down.
This is my time cycle analysis on the Hang Seng index. The index is basically dragging along its 30+ year channel bottom, approaching the trough of the green cycle between June-August of this year. This time region is highly likely to produce a tradable bottom, if not 'the' bottom. Unfortunately cycle trough timing zones only give us entry points for swings,...
trend strongly bullish + bullish gartley pattern + price at support level + RSI divergence
expecting the price to retest the 17000 level
PS never risk more than 2% of your capital per trade
Last week, HK50 close back into the range as bearish. This week, pay attention to the two crucial level, 16369 and 16127. Overall structure from weekly is still bullish as long as it doesn't break the two level I mentioned.
For sell, the safest sell will be if 1 hour and 4 hour starts to close below 16127. There is plenty of room to go back down to 15450.
For...
Hangsang Index has made major breakdown of 2008 trendline. But at the same time its not made a new low. If price goes above broken trendline and sustain, there might be a reversal sign. There may be great opportunity to invest in it, if there is a reversal.
Ola Chicos,
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