This idea was first posted on Dec 10 but was hidden as I unknowingly violated one of TV's house rules and the idea was hidden. Reposting for everyone's reference as we get closer to the tgt profit level.
Due to request from user tubeSound, Shanghai Composite was analysed and seem to have turned long midterm.
Having cleared the 2.618 fibo level in the previous midterm bear trend, Shanghai Composite looks to have firmly turned bullish , 1st target profit at 3,360 after crossing the fibo 1.618 level.
With stop loss at 2,730, Risk / Reward ranging from 2.5 - 5X depending on entry level. Possible to add some long now and wait for further retracement to 2,850 to add more.
(Note this is in contrast on trading direction with my view on HSI and you may execute both concurrently to have a equity 'hedge').
Happy trading and please click agree/like on this idea to support my work as well as follow my Tradingview profile to get more trade ideas update.
Due to request from user tubeSound, Shanghai Composite was analysed and seem to have turned long midterm.
Having cleared the 2.618 fibo level in the previous midterm bear trend, Shanghai Composite looks to have firmly turned bullish , 1st target profit at 3,360 after crossing the fibo 1.618 level.
With stop loss at 2,730, Risk / Reward ranging from 2.5 - 5X depending on entry level. Possible to add some long now and wait for further retracement to 2,850 to add more.
(Note this is in contrast on trading direction with my view on HSI and you may execute both concurrently to have a equity 'hedge').
Happy trading and please click agree/like on this idea to support my work as well as follow my Tradingview profile to get more trade ideas update.