HSI closed in a strong support region.
Fourth wave expanded flat is the preferred count as the selloff seems to hv good momentum but caution is required. Under this count, HSI will make a new low below 28000 and then rally towards 30000. ALT. Triangle.
28600-29000 area has seen very heavy volume traded recently. Expect the prices to hover in and around this area...
Hangseng appears to be in wave iv correction with A and B waves both unfolding in 3 waves. Wave C is currently under way.
In case of an expanded flat, it will break below 28000. Target area is 27800-600.
In case of a Triangle, wave C should end around 28550-600 area.
Once completed, wave v should advance to 30000-30300 area.
Price is in an uptrend on the daily and lower timeframes, and has just broken the 29 153.0 ceiling, which represents the previous high. It currently is 23 points (pips) below the 289 432.2 level, which has been tested twice previously ass support, though it was later broken through.
As a trend trader, I would wait for a retest of price towards previous high (29...
View On Hong Kong Stock Index (HSI) (29 Jan 2019)
HSI has hit the TP2 level. Take it slow and do not rush into chasing the market.
But sooner or lower it should be on the way to 28,000 level again.
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Our Analysis
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LONG (entry is valid as long as the price is above 24,200)
SL 24,080
TP1 26,790 (Already Hit)
TP2 27,660 (Already...
1. Still bearish momentum as shown in RSI
2. Pin Bar formed
3. Rejection from 0.618 levels
4. Price action bearish as price could not be maintained above structure.
Hang Seng Index is approaching our first support at 25432 (horizontal swing low support, 61.8% Fibonacci extension , 78.6%, 61.8% fibonacci retracement, horizontal swing low support) where a strong bounce might occur above this level pushing price up to our major resistance at 26327 (100% fibonacci extension , 50% fibonacci retracement, horizontal swing high...
Hang Seng Index is approaching our first resistance at 28029.9 (horizontal swing high resistance, 61.8% Fibonacci extension , 50% Fibonacci retracement where a strong drop might occur below this level pushing price down to our major support at 24437.6 (horizontal swing low support, 100% Fibonacci extension ). Stochastic (21,5,3) is also approaching resistance and...
Hang Seng Futures HSI1!
Next Long Set-Up
This index made a neat exit of the upper parallel - followed by a pip perfect retest of the same line before reversing higher again to test the first line of resistance at 26764, failing just below here after an intraday high at 26694 on futures.
The 26770 level is looking increasingly significant. A break above here...
Again the 3 markets have rebound from recent new low. According to elliott wave and fibonacci structure, the market correction size fall between 38.2% to 61.8%. Shall the current market market to prove as trend reversal? Trader please monitor the following price level.
Dow Jones:
Retracement level at 25203, 25537 and 25871. Higher than 25871 indicate price...
Price is revisiting previous swing high levels. Although resistance is around 26400, price can definitely continue to increase further before coming down. Thus it is only logical to place your Stop Loss above the previous Swing Highs. The Stop Loss level of 26800 is part of my strategy. If you are following this trade, do not adjust the stop loss. Rather, adjust...
Hang Seng rebound strongly with fresh measure announced to ease funding for private companies.
The strong rebound brought price to 26222 level. On the left chart, price reached one third of previous downswing (important fibonacci retracement level), also hovering around previous downward channel line. On the right 60 mins chart, yesterday rebound reached 5...
Indices globally have been in a downturn as the trade tensions between Trump and China heated up however should we expect some short term relief?
The market works in trend and tends to bounce between support and resistance zones. The HK50 (Hang Seng) has reacted from the key weekly support of 25300.00. Looking left you can see how this level has been used...
Indices globally have been in a downturn as the trade tensions between Trump and China heated up however should we expect some short term relief?
The market works in trend and tends to bounce between support and resistance zones. The HK50 (Hang Seng) has reacted from the key weekly support of 25300.00. Looking left you can see how this level has been used...
The sharp declined in indexes market have not make significant come back yet since 11 Oct.
The 3 charts plotted in 60 minitues time frame. From the left
- Dow declined 7.6% from the peak, and rebound to 50% ratracement ( 25510) and trade below.
- FKLI declined 6.7% from the peak, and rebound to slightly higher than 50% ratracement (1738) and retraced.
- Hang...
This will be my views of Hong Kong Stock Index (Oct 2018)
Please make sure to read the "update" comment as there will be changes along the way.
Cheers.
S0nic
Disclaimer:
The information contained in this presentation is solely for educational purposes and does not constitute investment advice. We may or We may not take the trade.
The risk of trading in...
