Inflation INFLATION ! Lately Decried
Though HK Debt Yields, They Do Not Lie
A Gentleman's Market, You Can Be Sure
Honest Of All, Though Somewhat A Bore
Detailed Variants of Idea Chart Below 🖼️🎨
When the Whole world needs to take some breather , Hong kong is an exeption.
Elliot wave count is somewhat tricky but I tried my best.
Wave Y (double zigzag) completed on Feb2018 . This index took 2 years time to form its first leg of correction(wave a of 'X' wave) The proceeding Wave b,will have a time target of July 2021
Recently Hang Seng Index reversed on a strong monthly Supply Zone finishing it's external bullish cycle
The price decided make an external bearish cycle.. now it's advised to SELL at long term basis.
A) DEMAND (26908.14 - 26021.63)
Here price need to decide: if reverse in order to back to SUPPLY (32004.32 - 31126.20) OR BREAKOUT ,...
HSI gained on the first trading day of the Year of the Ox, overcame the year high of 2019. Heading to 33484, the year high of 2018, would be the only way out. HSI is strong. It broke the long term down trend in the end of 2020, and broke the ascending channel in January 2021 successively. All moving averages are bullish. Keep 100% long.
Uptrend, first target 30277 , the previous high and the high at 2019. All moving averages are in bullish. Since the breakthrough of the long term down trend Q4 last year, the situation has improved a lot.
After rejecting the weekly resistance at 30,000 big number, the weekly timeframe printed a bearish engulfing candlestick that suggest a possible reversal is coming. Daily looks like just a pullback but with an aggressive decline. 4H timeframe formed a double top with bearish momentum divergence.
If price pulled back in a corrective manner we could possible see...
An interesting example from the Hong Kong Stock Exchange that exemplifies a long term uptrending stock under going a correction in the short and medium term.
Long term trend is still up as long as the supertrend line at 57.40 holds during pullback.
Wait for the test and rebound of 57.40 before considering entry.
Medium trend start 190818 and ended on 071220...
Honk Kong 33 Short Order
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...
View On Hong Kong Stock Index (19 Oct 2020)
The demonstration in HK is over for now and it didn't have the outcome that some people want it to be.
So, the stability is back in HK for now and we shall see it's stock market trying to do some catch to their peer.
23K level shall be a decent and strong support for now, it can rise further on the UPside.
Hong Kong is going through some troubling times right now. To summarize very briefly, Hong Kong has been its own entity for some time with its own legal systems, boarders and rights but due to legal agreements China wants to take back Hong Kong as part of China. This is a crude summary of events.
This is causing friction between Hong Kong and...
View On Hong Kong Stock Index (3 March 2020)
We are in the rebound mode and it will likely take some time.
HSI is in the grind support region and it can climb up slowly. 26,800 shall be reachable, soon.
But I see the whole thing as a dead-cat bounce phenomenon.
Whatever method you use if you do not follow the proper rule of risk management, it will have...
I'm reducing risk and taking a few positions off the table on the HK Market. We have a great run in the last few weeks.
Price is at the top of the channel and I cannot see much upside from here. 29,000 at max.
On Friday, it is the Hong Kong Retail Sales YoY data, I am expecting it to be negative because of the Hong Kong Protest.
Source - Trade Economic.