When checking the Hang Seng Index HSI monthly chart, you can see the HSI has finished the wave 1 to 5 and starts to go from wave A - C. HSI is now testing the strong resistance at aound 29,000 to 29,100. If this resistance cannot be breakthrough, it is likely that HSI will start to go in wave C. According to the Fib, the first target will be 22843 which is 0.5...
The price is back above the EMA200 on daily time frame after 9 months of downtrend. In fact, since the index has scored new absolute highs above 33000 points, the price has started to fall until the support around 24500 points and from here it has restarted.
Technically the price is now above the new dynamic support (identified by...
1. RSI overbought
2. MACD bearish reversal for shorter and middle term
3. KDJ overbought, bearish reversal for shorter term
Ichimoku for this rally:
1. conversion line up-crossing the base line well below the cloud
2. candle up-crossing the conversion line below the cloud, and the baseline in the middle of the cloud
3. relatively small candle...
HSI is approaching our first resistance at 28057(horizontal swing high resistance, 38.2% Fibonacci retracement , 61.8% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 26592 (50% Fibonacci retracement , 61.8% Fibonacci extension)
Stochastic (34,5,3) is also approaching resistance where we might see...
HSI is approaching our first resistance at 29081(horizontal pullback resistance, 50% & 61.8% Fibonacci retracement ) where a strong drop might occur below this level pushing price down to our major support at 27135 (50% Fibonacci retracement , horizontal pullback support)
Stochastic (55,5,3) is also approaching resistance where we might see a corresponding drop in price.
In bearish market, starting from Q2 of 2018, the Hang Seng Index (HSI) enters bearish market. According to EW Theory, bearish waves either move in 5 or 3 smaller waves. Waves are impulsive if they move in 5, or corrective if they move in 3. In 5, we will denote the waves in 1-5, while ABC are used for corrective waves. I am betting the HSI will have 5 waves to...
1. Good RR with stoploss above structure
2. Pin bar rejection from the fibb level
3. Volume is low on the pullback
4. Rejection from trend line.
5. Lower close of previous low in 1hour time frame. Good reason for entry
Hang Seng Index HSI over the last 18 years looks generally Rangy.
We have seen a recent failure DOUBLE TOP movement at its all-time high level near 32,000
Current price action looks trending in bearish momentum, the Global stock market is also recently taken a hit since the price no longer
makes higher low and higher high of what it feels like bull market over...
As Per My Views On HSI:HSI:
Patterns On Day Chart:
1.Support From Upward Trend line
2.Head And Shoulder Pattern
3.Strong Horizontal Support At 27200
Breakout above 26940 on daily charts will be bullish for hang Seng index traders can go long above that with target of 28400 with stop of 26570
The Hang Seng index should have a sharp wave 4 rebound as wave 2 is a sideway movement. we should aim for 27200-28000 target.
then a wave 5 again. so wait for the sweet spot for sell or buy into to the rebound now.
The Hang Seng Stock Index (Hong Kong) is trading better recently. It is currently testing the daily ichimoku cloud, and will be a strong positive sign should it manage a close above the cloud. Is this just shortcovering ahead of the meeting between Trump and Xi at the G20 Summit or is it something more?
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...
Looks like we choose the wrong market to get involved in.
"The sharper the move up the slower the downfall". Might be some truth to that...
Sure, "simple people" got extra excited and a huge adrenaline rush 1 year ago, but after 1 year, the chemicals left their bodies?
Are these "simple people like you and me that drive a tractor" so "simple and down to earth"...