Hangsang Index has made major breakdown of 2008 trendline. But at the same time its not made a new low. If price goes above broken trendline and sustain, there might be a reversal sign. There may be great opportunity to invest in it, if there is a reversal.
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Shorter term EMA20 crossing over longer term MA50. Steady recovery for awhile, suggesting that the trans continues until at least the MA200 mark.
Yesterday market is pretty slow with no clear direction. One thing to note, 16805 now become another strong resistance level as it's been rejected multiple times from a higher time frame. Thus, it will take a pretty strong volume push before we can start seeing the bullish trend again. As for sell, since we are still in the middle of a range between 16805 and...
The impact of several Chinese economic indicators has pushed the Hang Seng index higher, albeit with mixed results: while retail sales, industrial production and foreign investment data beat expectations causing the index to correct higher, the unemployment rate showed a slight increase of 0.1% from the previous one. The anticipation of this week's meetings of...
My last analysis for HSI was a bullish call. Since then, the move for Hang Seng up move hasn't been that clean and I thought that it is time for me to publish the bearish alternate count. As should be clear, I have termed the up move as a triangle, and thus expecting a move down at least to the low made on 22nd Jan. Note: I have linked my bullish breakout analysis here.
Last week, HK50 finally tapped 17100 level but it retracts back to 16700 level to close the week. This week, based on the 1 hour and 4 hour time frame structure, it looks like we are starting to form a bearish structure with a lower high and lower low. I will need more confirmation that we are heading back down, thus my sell level remains at 16369. Once that level...
As discussed yesterday, the previous daily close right at resistance level of 17101, after a top wick, it ended up close back into the range below 16800. For today analysis, I am skeptical about the continuation of bearish candle. The reason being is because, if looking back at the last time, January 2, when it closed at 17101 and rip back down, the previous...
Yesterday, Unfortunately, it did not drive up as much as I expected to be. The daily actually close right at resistance level of 17106. Overall, I am still bullish for the week, eyeing at least 17400 level. Trade idea for today, the reason I mentioned to trade with cautious is because it closes right at resistance level. There is a possibility of a gap open to...
Hang Seng Index has been in a downtrend for last 4-5 years. The index bottomed in Oct 2022 when China uplifted the COVID restrictions. It has been correcting the first swing since last one year. The index is approaching a critical Fibonacci level where the wave 2 should end. The level has high correlation with the multi-year trendline as well.
For those that watched my analysis the past couple days, Congratulation! It was a pretty easy set up for a buy once the candle close above 16843. For today, we are finally back to the initial level I mentioned awhile ago. Whether if HK50 can break and hold above 17100? If it does, then we can sort of say we have now break the bearish trend and can look for more...
An inverse head and shoulder has formed and a break above the previous pivot will be the first confirmation that the Hong kong index has bottomed
Yesterday HK50 started off with some ranging candles but finally able to break above toward the end of the session. Today, depends how the first 15 mins candle open, I can see a continuation toward the upside as long as it can close above 16843. For sell, since it is starting to form a bullish trend from a 4 hour time frame, I will only consider sell once it...
HK50 is still ranging between 16843 and 16127 with no clear direction. The past couple days, it closed bearish but respecting 16127. For this week trade idea, I still stick with my last week analysis. For buy, I will consider when the daily starts to close above 16843. Tp can be up to 17565. For sell, once the daily starts to close below 16127-16000, I will...
Get ready for some thrilling opportunities as we dive into the market dynamics of HK50! Let's explore the charts, analyze the trends, and uncover potential pathways for profitable trades. 🚀💰 📈 Higher Timeframe Trend: Zooming out to the higher timeframes (H4 or above), we observe a clear trend in HK50. This sets the stage for exciting possibilities and potential...
So far, HK50 has formed a range in between 16843 and 16127. Overall there is still no clear direction as to whether if we will break out those range as yesterday we close right in the middle of the range. For trading idea, I still stand with my initial analysis. Sell only if the 1 hour candle close below the strong support level of 16127. For buy, proceed when...
HSI bottomed in January after hitting Fibonacci 1:1 in the last corrective leg. Since then, it has made a higher low forming inverse head and shoulder. Today it formed an impulsive run and closed above yesterday's high. Another confirmation that a bottom may have formed.
Yesterday HK 50 close off with a pretty nice bearish candle. Going back to my initial analysis, despite the past few weeks in a roll of bullish candle, as long as HK50 doesn't break any of the key resistance level, this could just a double top back to the downside. For Sell, as long as the hourly candle starting to close below 16000, we can look for a sell back...