The bears have now pushed Geely stock back below its March low. This confirms our primary scenario that the stock is in the final phase of the overarching gray wave II from the high of the magenta wave (B). This move should now be advanced to the green target zone between HK$7.80 and HK$4.12. With the low placed, the price should then move significantly higher.
The market is STILL BEARISH but, 1) HK50 is now fully oversold. 2) There is a harmonic pattern 3) There is H1 RSI divergence Tight stop loss. We need to ensure to exit quickly as the market is still down.
We take a look at the Daily charts and price action on our Key Indexes. It is important to have a longer term view of the price action and risk levels on the key markets so we will discuss our major markets and what we are looking for in the video. We take a look at the following Key Indexes:- Nasdaq, DOW, DAX, FTSE, ASX200, Hang Seng and the Nikkei. *** Feel...
bearish start to the week, with hawkish central banks and growth fears continue weighing on investor sentiment ahead of a busy week. The theme remained the same, with investor jitters over the economic outlook weighing on investor sentiment. There were no economic indicators from the region to change the mood. Market Overview It was a bearish morning session for...
Nice bounce on HSI, looks like a bottom in 2022 because of an impulse up, now right shoulder at support. China is doing everything to support its economy, but with high rates in other major countries, they just cannot pick up that easily. However, when economy in China will really start picking up that’s when commodity currencies like AUD and NZD can benefit....
Exemplarily, Hang Seng has thumbed our target zone and turned upwards from there. Thus, we classify wave 2 in turquoise as complete. Now, wave 3 in turquoise should carry Hang Seng above the resistance at 21 056 points. The counter movement of wave 4 in turquoise should then push the index back toward this mark before the ascent can be resumed once again. However,...
Many traders apply indicators for their analysis in their next trade. However, indicators formulate with historical price movement to tell us what is happening right now. It is not so much of telling us what is going to happen. The reason is simple, it is like economic policies, can manipulate the economy figure. But it doesn't tell us exactly the expectation...
Hello and thank you for taking the time to read my post. Today, we analyze the Hang Seng Index (HSI) on the weekly scale, focusing on a classic price pattern called the "Inverted Head and Shoulders Pattern." The Hang Seng Index is the leading stock index in Hong Kong and one of the most important in Asia. It tracks the share prices of the 50 largest and most...
Increasing confidence for global economic resilience in 2023. Global growth for 2023 has continued to improve. The U.S. has started the year with a degree of momentum, even if activity could wane as the year progresses. Chinese activity is bouncing back as the economy reopens, while the Eurozone is likely to benefit as energy prices have receded and headline...
HK50 intraday trading alert 3 simple steps to find a quality setup ! Risk Reward Ratio 1: 2 Anyone same idea with me? BUY HK50 Good luck traders..
In this update we review the recent price action in the Hang Seng and identify the next high probability trading opportunities and price objectives tot a
Something bullish is happening in China, potentially primarily due to the reopening and all the liquidity injections by the PBoC. China never raised rates while slowly adding liquidity to markets. We saw a significant capitulation when Xi became emperor for life by removing everyone that could potentially cause trouble to him from the CCP, as well as when we first...
Hang Seng is still busy in the magenta-colored zone between 20 867 and 18 707 points. On the one hand, the index has slowed the descent and could very well have completed wave (4) in magenta by now, readying itself to take off. After all, the requirements for the current movement’s conclusion have already been met by touching at the magenta-colored zone. On the...
HanG Seng came under fire and could see new lows in coming days. The price action recently flushed through resistance at 22416 and is now unwinding longs positions on a move down. A break below 21068 could see a move into 20165.
In this update we review the recent price action in the Hang Seng futures contract and identify the next high probability trading opportunity and price objectives to target
Emerging markets have made some terrific gains in the past month, but I would caution with the path ahead. Take a look at the past year's performance of the Hang Seng, KOSPI, IBOVESPA. I've included a chart of the Tadawul, the Saudi stock index, which is significantly weighted in EEM, the emerging market ETF. These are not healthy charts, and rallies provide...
Large C&H has formed since the break up and out of it's recent medium downtrend. Price is also above the 200SMA (Which explains the Green background) This means, an uptrend is confirmed, 7>21 >200SMA RSI >50 >75 Target 24,637 Bullish
Since early November, when China initially hinted at lifting statewide Covid restrictions, a basket tracking assets linked to the Chinese reopening story has surged by 22%. In the last 11 weeks, the China reopening basket, which is equally weighted with copper , Korean won , Australian dollar , and the Hang Seng index , has outperformed a global stock market...