FX:HKG33   Hang Seng index of Hong Kong listed shares
2635 5 69
HSI             HIT 1.618 EXT
we can short first
then TP at 20583

then buy again for a 2618 trade
To lean Trading like Jack:
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This looks like it was a good call so far. Been in bear mode this last week
I ended up registering here just to reply to this post. End of the year is usually when the Hang Seng rallies. Right before Chinese New Years is where we usually see a run up in Asian Indexes. This would be quite interesting to see it drop a bit over 10% from here. Quite a few stocks in Hong Kong on the Hang Seng Index are now in bull mode. I will be following this one to see how it plays out.
+1 Reply
Thank you Jack, i can see this to be a VERY long trade, maybe a Christmas present for those who enter??
Jor4hub Batman-oz
@Batman-oz, not wrong
The is a triangle pattern in development on daily / 4hr timeframe. Do you not consider that pattern might break to upside with target around 24600 - 25000 and it would be a confluence with 0.618 fibo retracement of down move from 05/2015 to 02/2016 before will go down ? My general view on direction is same as I have spotted similar structure in past.
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