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Hangsengindex

Update on Hang Seng Index Analysis on Weekly timeframeDuring last week, HSI has successfully broken 28,075 short term support level and dropped over 1,500 points to our target near 26,505. Currently, HSI is retesting the previous low at that level. We are expecting the market to break the 26,505 structure level and if it does, we would be looking at a retest of structure in the lower timeframe for our entry. Potential target could be near the next low which is around 24,500. Gordon @GoreStreetTrading Previous Analyis
HKEX:HSI1!Short
by Gordon_Chow
Hang Seng Index Analysis on Weekly timeframeHSI has retraced roughly 75% from the top 33,516 (January 2019) since the uptrend started on 28 December 2018. In April, we have seen HSI spike up to the 30,200 level where price was rejected. Recently, price has formed a short term support near 28,075 level since mid-June. Price has now printed a higher low and a lower high which therefore is not clear where the market is heading in the long run. This means we need to see a breakout of either higher low or lower high to see a clear direction. In the short run, we would expect the market to hold up near 28,075 level and try to push through the upper bound (downward trendline). If price could break and close above the most recent LH 30,220, the market may retest previous 31,500 resistance zone. On the other hand, if we see price push and close below 28,075 short term support level, we would look for a short term retest on lower timeframe of 28,075 for a potential short position down to 26,700 (most recent low),. The reason we have two possibilities is due to the current market conditions. We need to see a break out one way or the other to make a directional judgement. Gordon @GoreStreetTrading
HKEX:HSI1!Long
by Gordon_Chow
Hang Seng (HSI) Buy Trade 2H TimeframePrice 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 (29 143 area). That area is almost in confluence with the upward trendline, which can also be used as a buying level, once price gets close to it.
TVC:HSILong
by munyaelliott