The FOREXCOM:HKXHKD prices had been consolidating for quite a while and not creating any higher highs (HHs). Yesterday was a good setup to short after the compression was done, but I failed to catch it. This morning, I saw another good opportunity to short with a condition that the price will close at 24,190 area. Here is my personal trade opinion : Sell Stop...
Why get subbed to to me on Tradingview? -TOP author on TradingView -15+ years experience in markets -Professional chart break downs -Supply/Demand Zones -TD9 counts / combo review -Key S/R levels -No junk on my charts -Frequent updates -Covering FX/crypto/US stocks -24/7 uptime so constant updates HSI/HK50: 25% correction & best level to RELOAD/BULLS(NEW)...
BEARISH OVERALL BUT BETTER SELLS SHOULD BE ESTABLISHED ON RETRACEMENTS.
I took this reversal trade with 4 confirmations 1 : Price was moving sideways around this area of support 2 : RSI was below 30 indicating oversold 3: Price was rejected by lower bollinger bands 4:Hammer candlestick on weekly chart
Hang Seng has been devastated by the recent negative geopolitical climate, reaching in August the 24,900 1W Support. The rebound that followed on 1D was rejected near the Lower High trend line (dashed) and 1D MA200 (orange line) thus keeping 1W bearish (RSI = 43.695, MACD = -309.550, Highs/Lows = -317.3100). We have had a Death Cross formation on that bottom and...
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...