Just spent 1.5 day to reach the top of the ascending channel. Keep long positions and think about covered call to hedge it. Make 0.1-0.2 delta should be a right way.
HKEX:HSI1!
HSI1! 2021 Jan 18 Week
Red Greed zones = preferred entry levels
Grey box = price rotation
Price rejection observed at 28675 - 28620
Price rotation observed (grey box)
For a long trade the bottom of Bar A should not be broken.
Intermediate support = 28313 - 28371
Resistant2 = 28970 - 29000
Resistant1 = 28620 - 28675
Support1 = 28168 -...
After the breakthrough on two weeks before, HSI is heading to the top of the ascending channel, it doesn’t mean try to short, like, just short call to make a cover call strategy or wait for some pull back for a long chance
50% of the cash long today around daylow which is near to middle of the ascending channel. Could long the second 50% at the bottom of the channel while reach.
Is it about to reverse or go bazooka?
Trend is up and there hasn't been convincing distribution in approach to the current levels.
Only things favouring a selloff from here is low volume and the red trendline.
Failure to reverse here can see it shoot up 30k. Reversal from here can see it quickly drop to 26k. Real difficult to call this one.
What do you think?
HKEX:HSI1!
HSI1! 2021 Jan 06 Midweek update
Post Monday 4 Jan's observation
Price if continues on an uptrend, I will look to buy
if I see a Ultra High Volume wide spread
down bar has formed, examples marked by red triangle.
Remember to look for entry on a lower timeframe.
Resistant3 = 28619 - 28755
Resistant2 = 28318 - 28379
Resistant1 = 27901 -...
For second week in a row, we sold on Thursday anticipating a selloff on Friday but both times it happened on Monday. We sold in good areas but timing was off by a day. I am not comfortable holding a trade over the weekend unless well in profit. It can be argued that trades should be given enough room and time. Valid point but Gaps are a common theme in HSI...
HS1!
Scenario - Short
Short from Resistant 1
Target 1 = 50% of range
Target 2 = 26680
Extended target = Support 1
Support 2 = critical support
Scenario - Long
Would prefer to long at support zone
Target 1 = 50% of range
Looks to me like the Chinese were responsible for the EOD pump, HSI and KOSPI are both up .6%.
HSI has a long way to go until it hits 2018 peak, so don't be surprised if you see more random pumps like we had Tuesday. Also note that they love NQ, which is green right now while ES, RTY, and YM are all red. Asians love to pump tech.
Expecting HSI to top at 27100-250 area and make its way down within next few days.
26750-800 is the key support. Distribution as of now does not support a broader selloff.
If you are new, i update regularly throughout the week within this post as the action unfolds.
