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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Yesterday market is pretty slow with no clear direction. One thing to note, 16805 now become another strong resistance level as it's been rejected multiple times from a higher time frame. Thus, it will take a pretty strong volume push before we can start seeing the bullish trend again.
As for sell, since we are still in the middle of a range between 16805 and...
The impact of several Chinese economic indicators has pushed the Hang Seng index higher, albeit with mixed results: while retail sales, industrial production and foreign investment data beat expectations causing the index to correct higher, the unemployment rate showed a slight increase of 0.1% from the previous one. The anticipation of this week's meetings of...
My last analysis for HSI was a bullish call. Since then, the move for Hang Seng up move hasn't been that clean and I thought that it is time for me to publish the bearish alternate count.
As should be clear, I have termed the up move as a triangle, and thus expecting a move down at least to the low made on 22nd Jan.
Note: I have linked my bullish breakout analysis here.
Last week, HK50 finally tapped 17100 level but it retracts back to 16700 level to close the week. This week, based on the 1 hour and 4 hour time frame structure, it looks like we are starting to form a bearish structure with a lower high and lower low. I will need more confirmation that we are heading back down, thus my sell level remains at 16369. Once that level...
As discussed yesterday, the previous daily close right at resistance level of 17101, after a top wick, it ended up close back into the range below 16800. For today analysis, I am skeptical about the continuation of bearish candle. The reason being is because, if looking back at the last time, January 2, when it closed at 17101 and rip back down, the previous...
Yesterday, Unfortunately, it did not drive up as much as I expected to be. The daily actually close right at resistance level of 17106. Overall, I am still bullish for the week, eyeing at least 17400 level.
Trade idea for today, the reason I mentioned to trade with cautious is because it closes right at resistance level. There is a possibility of a gap open to...
Hang Seng Index has been in a downtrend for last 4-5 years. The index bottomed in Oct 2022 when China uplifted the COVID restrictions. It has been correcting the first swing since last one year. The index is approaching a critical Fibonacci level where the wave 2 should end. The level has high correlation with the multi-year trendline as well.
For those that watched my analysis the past couple days, Congratulation! It was a pretty easy set up for a buy once the candle close above 16843. For today, we are finally back to the initial level I mentioned awhile ago.
Whether if HK50 can break and hold above 17100? If it does, then we can sort of say we have now break the bearish trend and can look for more...
