after closing at 29018 yesterday , the index gaped up with great momentum this morning and broke the high two days ago
now it would only be safe to go short again if the hourly bar closes below 29214 ( 29190 for futures).
if this level holds, hsi could go all the way to 2943x-295xx
Trenches below supporting the price
We have a resistance preventing the price from moving upwards.
Once 5.8 is clear, it would easily fly.
Disclaimer :
This analysis not include personal feeling/opinion, and pure base on technical analysis
Trading foreign currencies can be a challenging and potentially profitable opportunity for investors. However, before...
the index saw resistance and fell back yet still i dont buy the idea that it would go straight down from here
my bet is hsi would go above the 28650 level again before dat wave c happens:)
market rebounded to 285xx and reversed as predicted.
but still i couldnt say this is the start of a much bigger mid term correction
this month s candle very likely to be bearish but its not 100% and todays high shouldnt be breached again for the downtrend to continue
won some fast money these few days :) gonna stay on the sidelines for a while
the index plummeted crazily right after i 'd called the top :)
it should rebound from here back to 285xx before going down again.
Remeber i said this months candle is very likely going to be a bearish one ? ( becuz of the 8 consecutive bullish monthly candle theory)
we opened at 27885 this month. we should go below 27885 before the last trading day of October
the index found support at the range bottom again with the hourly bar closing above it.
We may get another push to the 288xx area before going down again towards the end of the month
index found support at 286xx the range bottom with the hourly bar still closing above it.
we may get another push to the 288xx area before a quick drop towards the end of this month
saw resistance at 288xx. should be heading to 282xx-281xx first.
some interesting finding : after 8 straight bullish candles on monthly. the 9th would be bearish(which was true as we saw last month).
the 10th candle would also be bearish 70% of the time). This month the index opened at 27885,
lets see if there 'd be some fast sell off towards the end of October.
