HK33HKD - 24h expiry
Previous support level of 16014 broken.
This is negative for sentiment and the downtrend has potential to return.
We look for a temporary move higher.
Preferred trade is to sell into rallies.
Further downside is expected although we prefer to sell into rallies close to the 16015 level.
We look to Sell at 16015 (stop at 16195)
Our...
HS50 - 24h expiry
Previous support level of 17587 broken.
Short term bias has turned negative.
The hourly chart technicals suggests further upside before the downtrend returns.
The 200 day moving average should provide resistance at 17845.
Preferred trade is to sell into rallies.
We look to Sell at 17800 (stop at 17960)
Our profit targets will be 17400...
HS50 - 24h expiry - We look to Sell a break of 20150 (stop at 20455)
Previous support located at 20250.
Previous resistance located at 20500.
Price action has stalled at good resistance levels and currently trades just below here (20600).
We expect a reversal in this move.
A move through 20150 will confirm the bearish momentum.
Our profit targets will be...
HS50 - 24h expiry - We look to Sell at 19570 (stop at 19810)
Buying pressure from 18823 resulted in prices rejecting the dip.
The current move higher is expected to continue.
The bias is still for lower levels and we look for any gains to be limited.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Further...
HS50 - 24h expiry - We look to Sell at 19635 (stop at 19901)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
A higher correction is expected.
The medium term bias remains bearish.
We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower.
Further downside is...
HS50 - 24h expiry - We look to Sell a break of 19635 (stop at 19860)
Selling posted in Asia.
Selling pressure dominated price action yesterday and we expect this to continue today.
Previous support located at 19635.
The medium term bias remains bearish.
Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 19635,...
Honk Kong 33 Short Order
Entry: 28,267.8
TP & RR: 27,881.1 (1.5)
Stop Loss: 28,525.9
REASONS FOR THE TRADE
I hate to open a position against the trend, but I believe that the price will respect the upper trendline and reverse to test the lower trendline. The Stop Loss is set just above major resistance, so if we do get hit it's very likely that the price...
HK33HKD is approaching our first resistance at 28975.3(horizontal overlap resistance, 61.8% & 50%Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 27325.9 (38.2% Fibonacci retracement , Horizontal pullback support, 61.8% Fibonacci extension )
Stochastic (89,5,3) is also approaching resistance where...
HK33HKD is approaching our first resistance at 28975.3(horizontal overlap resistance, 61.8% & 50%Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 27325.9 (38.2% Fibonacci retracement , Horizontal pullback support, 61.8% Fibonacci extension )
Stochastic (89,5,3) is also approaching resistance where...
HK33HKD is approaching our first resistance at 28975.3(horizontal overlap resistance, 61.8% & 50%Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 27325.9 (38.2% Fibonacci retracement , Horizontal pullback support, 61.8% Fibonacci extension )
Stochastic (89,5,3) is also approaching resistance where...
HK33HKD is approaching our first resistance at 28975.3(horizontal overlap resistance, 61.8% & 50%Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 27325.9 (38.2% Fibonacci retracement , Horizontal pullback support, 61.8% Fibonacci extension )
Stochastic (89,5,3) is also approaching resistance where...
HK33HKD is approaching our first resistance at 28975.3(horizontal overlap resistance, 61.8% & 50%Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 27325.9 (38.2% Fibonacci retracement , Horizontal pullback support, 61.8% Fibonacci extension)
Stochastic (89,5,3) is also approaching resistance where...
HK33HKD is approaching our first support at 25039 (61.8% Fibonacci extension, 76.4% Fibonacci retracemen, horizontal swing low support) and a strong bounce might occur above this level pushing price up to our major resistance at 28000 (38.2% Fibonacci retracement, Horizontal swing high resistance).
Stochastic (55,5,3) is also approaching support and we might see...
HSI is approaching our first resistance at 27336 (100% fibonacci extension, 78.6% fibonacci retracement, horizontal swing high resistance) and a strong drop might occur pushing price down to our major support at 25050 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, Horizontal swing low support).
Stochastic (89,5,3) is also approaching resistance and we...
HK33 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 (89,5,3) is also approaching resistance and we might...
