2990, 2960 pull back Safe to go around 2880
SHCOMP is currently pulling back off a Double Top formation near July's 3,050 Resistance. The key development here is the potential to have a Golden Cross formation on 4H. Last time this pattern emerged was in mid February 2019, when again the price was pulling back after a Double Top. The result was an aggressive jump of +20%. Medium term investors can wait for...
Those following the previous chart update in Shanghai Composite will know the widely tracked 3,257 highs we called live here all those months ago: Here we are going to dig deeper for the final leg and one more time trade it live, breaking below 2,887 will unlock at least the 2,793. The congestion here will define the nature of the trend, if we break the 61.8%...
In A look many sound, A shares finally opened the rising mode, half day Shanghai and shenzhen stock through into nearly 6 billion, 350 billion transactions, Shanghai index 2 points of the sun line, close to the 60 average, also cut the gap, if can successfully close the above jump vacancy mouth, that long has been ready. It was just Xi & trump" a call”, but the...
We have seen that originally optimistic negotiations, the storm changes, the market will also bear a huge impact. This topic is too sensitive to discuss. But here are a few logical questions to explore. 1. The market responds according to the worst expectation, and the strategy of the institution will not be adjusted at any time. In other words, the trend of the...
The SHCOMP dove rapidly because of the tense trade dispute. But I still hold a positive attitude toward the war. Where will the market stop dropping? From the chart, we can see the 0.618RET of previous rally is at 2764 level. Meanwhile, a very good demand zone locates at 2737-2759 zone. So it is the final target and it is good to buy at this zone as well. ENTRY:...
For those who have a background in waves, you will know we are in the final stages of a 5 wave sequence since the advance from January. Only crumbs remain in the move and for my taste it is too late to buy into any weakness as bulls are eyeballing taking profits around current levels. We should not retrace any further than 2,900 ... however remember that after 5...
Assets being monitored: Gold, Crude Oil, Silver, SHCOMP, SPX500, NDX Time Frame: 2H - 4D XAUUSD: Bearish (Red) on almost all Time Frames XAGUSD: Crazy Sold (Fuchsia) on 16H, 23H, indicates breakdown support, Bearish (Red) on most Time Frames USOIL: Bullish (Green) on almost all Time Frames SHCOMP: Bearish Divergence, Resistance / Overbought on 2H - 8H, a...
Royal bearish pin bar $FXI, $FXP, $CHAD
Unsurprisingly, similar to the currency, the outperformance of the Chinese stock market vs. the S&P 500 falters when the Chinese currency can't be sustained. Not quite as direct of a relationship, but this clearly affects emerging markets, which are highly indebted to the dollar. This is visible if you go back further as well - the broad rolling emerging market...
SELL When: - RSI reaches 90 - Touches the RED Line with RSI reaches 80 - Bearish RSI Divergence occurs BUY When: - Touches the GREEN Line with RSI reaches 35 - Bullish RSI Divergence occurs
Shanghai Composite Index has broken into the weekly Ichimoku clouds and continue to trade well. With policymakers determined to channel credit to the right sector and promote growth, the bears are now in retreat. Time to look for opportunities to get long on any reasonable pullbacks!
The Shanghai Composite Index has seen a considerable rise since the start of the year, which we predicted in December ( ). The parabolic rise on 1D has reached past the overbought zone (RSI hitting 80.000) and as it got close to the 0.500 Fibonacci retracement level (3,015), we should start see it consolidating. The strongest candidate for a pull back however is...
Last June's gap right above price $FXI, $SSEC
The Shanghai Composite reflects the real situation that we are facing up. The S&P 500 completely out of mind in that perspective. Are we approaching a reversal movement in both indexes? Indeed, one of them has a lot of chances rather than the other. Which one is willing to turn over first? Learn how to beat the market as Professional Trader with an ex-insider!...
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