For second week in a row, we sold on Thursday anticipating a selloff on Friday but both times it happened on Monday. We sold in good areas but timing was off by a day. I am not comfortable holding a trade over the weekend unless well in profit. It can be argued that trades should be given enough room and time. Valid point but Gaps are a common theme in HSI...
Expecting HSI to top at 27100-250 area and make its way down within next few days. 26750-800 is the key support. Distribution as of now does not support a broader selloff. If you are new, i update regularly throughout the week within this post as the action unfolds.
Little does it matter. Long term policies of USA won't change whoever wins meanwhile markets will continue to do their own thing. There has been accumulation happening for last 2 months which should see HSI rally towards 26k post elections with Ant's ipo carrying it higher still from there. Euphoria won't last for very Long as the market movers will use these 2...
I updated on Friday in my last week's post but it was late so putting it here again. Short term bottom might be in and we can see price make its way towards 23500-600 from here. We are seeing third batch of accumulation between 23400-200 with first being between 24500-200 and a rather brief one between 23750-600. Expect price to spend most of the time between...
Covid 19 crash saw huge volume on 20 straight days. While volume reflected on intraday time frames was higher than average, it was no way near as much as the cumulative daily volume shown on a Daily chart. Upon noticing similar thing happening in last 5 days, i dig it up a bit and found this, " Charts that utilize a periodicity of "Daily" will show a different...
HSI isn't very popular on this platform as i rarely use to get 100 views on my posts but last week post was close to 500 so many of you were checking back as i was updating in the comment section during the week. I will post once on the weekend from now on and update in the comment section during the week as things develop. Couple of things i want to put...
I posted on Wednesday morning to be not deceived by the strong support at 24850-800. At that time, i was expecting the down move to accelerate real soon but then as i updated in the comment section, i noticed high volume every time price came near 24900. That had me second guessing as it was odd for this early in the move. I prefer to be happy with one bird in...
Not entirely convinced that it has legs for 26k. It might still keep crawling towards 26k but big drop can start any day now. 25800-850 seems good place to sell.
Volume spikes in NY session usually precede big swings, often in both directions. Don't expect market to go anywhere for next few days, probably couple of weeks. Buy near 24k and Sell above 26k. Leave the middle part to big whales and let them do their thing. Be Patient.
As i am getting a lot of questions, i decided to present the thought process of my recent analysis. I hv very little PC knowledge so i can't present analysis in a very professional way. If you have any question, i will be glad to help.